- SteelMint’s price assessment for P-DRI (FeM 80%) fell by INR 700/t to INR 28,200/t exw-Raipur. Prices have dropped to 8-months low as the same range was last seen in Mar’21. Falling raw material prices amidst the sluggish trend weighed on sponge iron prices.
- About 3,500 t deals were reported at INR 28,100-28,200/t versus offers of INR 28,300-28,400/t on exw and DAP Raipur. A few sources claimed deals happening at INR 28,000/t but it was unconfirmed till the time of publication.
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