India: Bid-offer disparity puts pressure on Raipur sponge iron prices

P-DRI (FeM 80%) prices in Raipur fell by INR 200/t to INR 35,100/t exw today. Lower bids and competitive offers by resellers were the key factors behind the price correction.

• Deals were reported at INR 35,000-35,200/t against offers at INR 35,500/t on exw and FOR Raipur basis. Although sources claimed to have purchased material at INR 34,700-34,800/t exw, SteelMint couldn’t verify these deals before publication.