India: Sponge iron demand remains active in Raipur, prices rise

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SteelMint’s price assessment for sponge P-DRI (FeM 80%) inched up by INR 200/t to INR 30,800/t exw-Raipur.
About 4,300 t of deals for FeM 80% P-DRI were reported at INR 30,750-30,900/t exw, while around 1,000 t of FeM 78% material was traded at INR 30,500-30,700/t on DAP Raipur basis.
Sponge iron demand remained active following the rise in billet prices. In addition, there is a slight shortage of the material for immediate deliveries, soures informed SteelMint.

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