India: Raipur sponge iron offers stable despite lower bids

Raipur sponge iron, P-DRI, offers remained stable today at INR 30,800/t exw. Suppliers opted to hold offers amidst sufficient deals yesterday.

• 1,000 t of P-DRI deals were reported at INR 30,600-30,800/t against offers floated at INR 30,900-31,200/t exw and FOR Raipur.
• A majority of the bids were reported at INR 30,500/t. However, no confirmed deals were reported till publication of this assessment.