Indian sponge iron (DRI) offered lower by Rs 100-200/t

Sponge iron (DRI) prices in Indian market offered lower by Rs 100-200/t, manufacturers wait for NMDC's iron ore prices (to be declared in Feb) for further direction. Most of brokers feel prices have bottomed out and may find support on higher scrap offers in global market.

Current Offers for Sponge iron across India

Raipur= Rs 20,400 (79 FeM, Basic)

Raigarh= Rs 19,500-19,600/t (79 FeM, Basic)

Rourkela= Rs 18,800-18,900/t (78 FeM, Basic)

Bellary= Rs 18,600/t (75 FeM, Basic)

Bellary(Pellet Sponge)= Rs 17,200/t (75 FeM, Basic)

Durgapur= Rs 20,400/t (79 FeM, Basic)