India: Supply shortage, active demand lift sponge iron prices in Raipur

SteelMint’s assessment for sponge iron, P-DRI (FeM 80%), rose by INR 600/t to INR 27,600/t exw-Raipur. Prices rose on active demand and temporary supply issues in the spot market due to shutdown of kilns at a few plants.

• 6,000 t of P-DRI deals were confirmed at INR 27,200-27,700/t on exw and DAP basis.
• Sponge iron of DR CLO grade traded at around INR 31,300-31,400/t exw.