India: Sponge iron demand recovers in Raipur, around 12,000 t deals concluded

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SteelMint’s price assessment for sponge P-DRI (FeM 80%) in Raipur inched up by INR 100/t to INR 34,000/t exw.
12,200 t of FeM 78-80% P-DRI deals were recorded today, 55% of which were concluded by Raigarh and Odisha-based plants at INR 33,500-34,000/t DAP Raipur. Meanwhile, Raipur-based plants sold at around INR 33,900-34,100/t exw basis.
Demand recovery in finished steel products prompted hot charging mills to secure the raw material.

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