India: Sponge iron prices rise by INR 250/t in Raipur as billet offers surge

SteelMint’s assessment for pellet-based DRI (P-DRI) rose by INR 250/t to INR 30,950/t exw-Raipur for FeM 80% material. Prices stayed strong on a surge in billet offers by INR 450/t, d-o-d.

• About 3,000 t of FeM 79-80% P-DRI deals were confirmed at around INR 30,750-31,000/t on exw and DAP Raipur basis.