India: Raipur sponge iron prices likely to remain strong

SteelMint’s assessment for Raipur sponge P-DRI (FeM 80%) rose by INR 400/t to INR 31,200/t exw. Suppliers are eyeing a further gain in fresh deals, citing healthy orders, active demand and rise in coal prices.

• Around 5,000 t of P-DRI deals were reported at INR 31,000-31,300/t on exw and FOR Raipur basis. DR-CLO grade sponge offers were in the range of INR 34,200-34,500/t exw.