India: Raipur sponge iron prices hit one-month high

SteelMint’s assessment for pellet-based DRI (P-DRI) rose by INR 1,300/t to INR 31,200/t exw-Raipur, for FeM 80% material. Rising billet prices continued to support sponge prices. However, buyers remained cautious and are booking as per requirement.

• About 2,000 t of FeM 80% P-DRI deals were confirmed in the range of INR 31,100-31,300/t on exw basis, while 1,000 t of FeM 78-79% material was traded from outside at INR 30,800-31,000/t on FoR Raipur basis.