India: Jharkhand mills conclude over 5,000 t billet, sponge iron deals

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Jharkhand-based steel mills concluded 1,500 t of billet deals in the range of INR 46,500-46,600/t exw-Ramgarh.
2,400 t of P-DRI and 1,300 t of C-DRI (FeM 78%) deals were confirmed at INR 30,500-30,800/t and INR 33,200-33,400/t exw-Ramgarh, respectively.
Average transactions took place as buyers remained quiet and preferred to wait and watch until Chhat Puja festival. Market participants are expecting demand to pick up from next week.

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