Sponge prices dropped slightly on 27 May’21 tracking low bids and falling billet prices in the country even as supplies continued to recover. SteelMint’s benchmark assessment for P-DRI (FeM 80%) today dropped by INR 50/t to INR 28,450/t, exw.
- A few trades for P-DRI (FeM 80%) were reported at INR 28,400-28,500/t as against offers of INR 28,600-800/t, exw-Raipur. However, a few sources reported deals from the outside plants at INR 28,300-400/t, FoR. However, these deals were not confirmed by SteelMint.
- Sponge C-DRI (0-20mm) trades were reported at INR 29,800-30,000/t, exw.
- Bids for DR-CLO grade sponge iron were at INR 30,500-700/t against offers of INR 30,800-31,000/t, exw.
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