India: Raipur sponge iron demand weakens on higher offers

P-DRI (FeM 80%) prices in Raipur rose by INR 200/t to INR 35,500/t exw today. Buying interest remained limited on floated offers of Raipur based plants. Suppliers, however, are optimistic about the price trend due to shortage and higher coal prices along with sufficient orders in hand.

  • Deals were reported at INR 35,300-35,600/t on exw and FOR basis against offers at INR 35,600-36,000/t exw-Raipur.

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