Indian DRI prices stable at $370-400/t Ex-Works 

Indian sponge iron (DRI) prices remained stable at around $370-400/t ex-works on low production.Prices likely to be range bound in short term.Factors affecting prices are-

Power: Short supply in Andhra, Tamil Nadu and West Bengal and recent increase in power prices in Maharastra,Gujarat and Punjab has weighed on sponge demand and prices.

Raw Material:Increased availability of iron ore from Odisha has given some relief to manufacturers in Central and Eastern India, but mining situation in Karnataka is still uncertain has resulted decrease in availability of iron lumps.