India: Raipur sponge iron prices fall on bid-offer disparity

SteelMint’s assessment for sponge iron, P-DRI (FeM 80%), fell by INR 100/t to INR 28,900/t exw-Raipur on lower bids and limited buying interest.

• A few bids/deals were reported at INR 28,700-28,900/t versus offers at INR 29,000-29,200/t on exw and FoR Raipur basis.
• Sponge DR CLO grade offers fell to around INR 32,500-32,700/t exw. However, no major deals were reported.