India: Lower bids weigh on Raipur sponge iron prices

SteelMint’s benchmark price assessment for Raipur sponge P-DRI (FeM 80%) fell by INR 100/t to INR 30,300/t exw. Lower bids have kept prices southwards on today’s trade.

• About 4,000 t of P-DRI deals were reported at INR 30,200-30,300/t against offers at INR 30,300-30,500/t on exw and FOR Raipur basis. A few plants also claimed strong demand for prompt delivery but due to tight dispatch they haven’t take bookings.