Author: Manish Vasdev
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India: Lower bids weigh on Raipur sponge iron market
SteelMint’s assessment for pellet-based DRI (P-DRI) fell by INR 100/t to INR 30,700/t exw-Raipur, for FeM 80% material. Lower bids amidst decline in billet prices resulted in a marginal decrease in sponge prices. About 1,500 t of FeM 79% P-DRI deals were confirmed at around INR 30,400-30,500/t on DAP Raipur basis. Offers of FeM 80%…