Author: Manish Vasdev

Central India: Improved supply keeps sponge prices under pressure

Apr 27, 2021

—

by

Manish Vasdev

in Sponge Iron

SteelMint’s benchmark sponge iron (P-DRI) price dropped further by INR 300/t to INR 28,500/t ($382), exw Raipur, Central India. Demand remained weak due to slowdown in furnaces production, while sponge iron supply remain healthy. This resulted in mismatch in supply and demand, leading to a constant drop in sponge prices. The Raipur based plants floated…