SteelMint’s benchmark sponge P-DRI (FeM 80%) prices fell by INR 500/t to INR 29,300/t, exw Raipur, on 29 Jun’21. Prices dropped further as major buyers postponed bookings on planned production cuts and sufficient stocks at mills.
- A few deals for P-DRI were reported at around INR 29,200-29,300/t against offers at INR 29,500-700/t, exw and FoR Raipur. Meanwhile, a few buyers claimed to have booked material at INR 29,000/t, exw. However, SteelMint could not confirm these transactions.
- Offers for DR-CLO grade sponge iron dropped by INR 300/t to INR 32,000-32,200/t, exw; however, a few bids were heard at around INR 31,800/t, exw.
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