India: Sponge iron prices in Raipur rise to a two-month high

Pellet-based DRI (P-DRI, FeM 80%) prices rose by INR 500/t to INR 31,700/t exw-Raipur today – a two-month high, as per SteelMint’s assessment. Prices rose on slight supply shortage, active demand and higher coal and billet prices.

• 5,000 t of P-DRI (FeM 79-80%) deals were reported at INR 31,300-31,800/t versus offers at INR 31,800-31,900/t on exw and DAP Raipur basis.