Author: Manish Vasdev

Sponge iron prices drop by INR 600/t in Central India on low bids, falling billet prices

May 18, 2021

—

by

Manish Vasdev

in Sponge Iron

SteelMint’s benchmark sponge iron (P-DRI) prices plunged by INR 600/t to INR 30,400/t ($416) exw Raipur, Central India. Falling billet prices and lower bids fetched were key factors behind the price plunge. Plants in Raipur floated P-DRI (FeM 80%) offers at INR 30,500-30,700/t exw. However, deals were reported at INR 30,300-400/t exw and FoR Raipur.…