Strong demand and low production helped sponge iron (DRI) prices in India move up to Rs 1,000/t in last one week. Current offers prevail in the range of Rs 19,000-21,000/t (Basic prices, $345-380/t, excise of 12.36% extra).
Market participants expect upward trend to continue and prices move up further in coming weeks.
Current offers across India are as follows
Rourkela:(78 FeM)= Rs 19,000/t, Basic Prices
Raigarh:(78 FeM)= Rs 20,000/t, Basic Prices
Raipur:(78 FeM)= Rs 20,600/t, Basic Prices
Bellary:(75 FeM, Pellet Sponge)= Rs 17,200/t, Basic Prices
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