SteelMint’s benchmark sponge P-DRI (FeM 80%) prices fell by INR 200/t to INR 29,200/t, exw Raipur, on 1 Jul’21. Prices dropped owing to limited trades as well lower bids compared to the offers that were floated today.
- About 2,500 t of deals for P-DRI were reported at around INR 29,200-29,300/t against offers at INR 29,400-29,500/t, exw and FoR Raipur.
- Bids for DR-CLO grade sponge iron remained stable at around INR 31,800/t as against offers of INR 32,200-32,400/t, exw.
Amidst curtailment in production by furnaces (including hot rolling mills) in major locations, demand for sponge iron remains sluggish and prices continue to remain under pressure.
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