India: Jharkhand mills conclude 4,500 t billets, sponge iron deals

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Jharkhand-based mills sold 1,700 t of billets in a price range of INR 47,700-48,000/t exw-Ramgarh.
1,500 t of P-DRI and 1,300 t of C-DRI (FeM 78%) deals were confirmed at INR 31,800-32,000/t and INR 34,000-34,200/t exw respectively.
The market witnessed slow demand throughout the day. While sponge iron offers corrected slightly, billet offers remained unchanged. Participants expect demand to recover only if raw material prices go down further.

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