India: Falling offers weigh on billets, sponge iron buying enquiries in Jharkhand

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Jharkhand-based mills sold 1,100 t of billets at INR 47,700-47,900/t exw-Ramgarh.
1,700 t of P-DRI and 1,300 t of C-DRI (FeM 78%) deals were confirmed at INR 32,000-32,300/t and INR 34,000-34,300/t exw-Ramgarh respectively.
Buying enquiries slowed down amid a sharp fall in billets and sponge iron prices. An expectation of a further drop in prices have kept buyers on the side lines.

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