SteelMint’s benchmark assessment for pellet sponge (P-DRI, FeM 80%) in Raipur fell by INR 200/t to INR 29,800/t exw on 27 Jul’21, following a somewhat similar drop in billet prices. In terms of outlook as well demand-supply, a majority of sponge makers have sufficient orders in hand and supply has also lessened. Hence, a major fall in prices can be safely ruled out.
About 1,500 t of P-DRI deals were reported at INR 29,800-29,900/t on exw and FoR Raipur basis.
Prices of DR CLO grade sponge iron remained strong and were recorded as stable with offers at around INR 33,000-33,200/t exw.
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