Author: Manish Vasdev
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India: Sponge iron prices stable despite rally in billet prices
SteelMint’s assessment for pellet-based DRI (P-DRI) remains stable today at INR 30,700/t exw-Raipur for FeM 80% material. Prices stayed firm on bid-offer disparity, even though billet offers rallied on improved demand. About 3,500 t of FeM 79-80% P-DRI deals were confirmed at around INR 30,400-30,700/t on exw and DAP Raipur basis.