India: Raipur sponge demand improves, over 6,000 t of deals reported

SteelMint’s assessment for Raipur sponge P-DRI (FeM 80%) rose by INR 300/t to INR 30,800/t exw. Active demand on rising billet prices and a positive outlook continued to support sponge prices across locations.

• Around 6,100 t of P-DRI deals were reported at INR 30,500-30,800/t on exw and FOR Raipur basis. Furthermore, suppliers forecast a surge in offers tomorrow as sufficient orders had been bagged today.