Sponge iron prices hit all-time high in Raipur, central India

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Pellet-based DRI (P-DRI, FeM 80%) prices rose by INR 500/t to INR 35,700/t exw Raipur today. Prices hit an all-time high since SteelMint started maintaining data from Jul’12.
5,500 t of P-DRI deals were reported in which FeM 78-79% material was sold at INR 35,200-300/t DAP Raipur, while FeM 79-80% was traded at INR 35,500-800/t on exw Raipur basis.
Prices are expected to remain strong.

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