Eastern India-based mill sells sponge iron to Raipur at competitive price

A mill in eastern India sold P-DRI (FeM 78%) to Raipur at around INR 38,000-38,200/t FOR, whereas sponge iron manufacturers in Raipur floated offers at around INR 41,000-41,200/t exw for FeM 80% material. Competitive offers from mills based outside Chhattisgarh have put pressure on sponge iron prices in Raipur amid falling billet prices. SteelMint’s assessment for sponge P-DRI in Raipur stands at INR 40,000/t exw.