India: Raipur sponge iron buyers procure from Odisha on higher local offers

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SteelMint’s price assessment for sponge P-DRI (FeM 80%) in Raipur rose by INR 200/t to INR 35,700/t exw.
4,500 t of FeM 78-80% P-DRI deals were concluded at INR 35,300-35,700/t on DAP Raipur. About 80% of deals were confirmed from Odisha-based plants to Raipur. However, buyers resisted purchases on higher offers floated by Raipur-based local plants.
Sponge iron prices are expected to remain strong in Raipur amidst slight supply shortage.

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