India: Jharkhand mills conclude 5,300 t billets, sponge iron deals

  • Jharkhand-based steel mills concluded 2,200 t of billets deals in a price range of INR 44,400-44,800/t exw-Ramgarh.
  • 1,700 t of P-DRI and 1,400 t of C-DRI (FeM 78%) deals were confirmed at INR 29,900-30,000/t and INR 32,300-32,500/t exw-Ramgarh, respectively.
  • Trade volume has improved a bit by 8% as against 4,900 t on Friday. Market participants seemed confused by the unpredictable price movement. Hence, lack of buying confidence was noticed.

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