Sponge iron demand weakened today due to sharp surge in prices amid unclear market trends. Majority of Raipur based billet makers have held fresh bookings, hence limited trades were reported for the day. The plants floated P-DRI offers at INR 25,400-500/t exw (up by INR 900/t, d-o-d), of which, merely 2,000 t deals were reported in Raipur & about 1,500 t deals from Raigarh at INR 25,300-500/t on FoR Raipur basis. Amid rising pellet & iron ore prices, sponge prices are expected to remain strong, despite no major inquiries.
Leave a Reply