India: Raipur sponge iron prices register marginal decline on limited bids

SteelMint’s benchmark sponge P-DRI (FeM 80%) prices dropped slightly by INR 50/t to INR 30,550/t, exw Raipur, on 18 Jun’21. Prices fell marginally as inquiries remained slightly low amid sufficient supply of sponge iron in the spot market.

• About 2,500 t of P-DRI deals were reported at around INR 30,500-600/t exw and FoR, against offers of INR 30,600-30,800/t, exw-Raipur.
• Offers for DR-CLO grade sponge iron were reported at INR 33,200-33,400/t, while bids remained firm at INR 33,000-33,100/t, exw.