Strong demand, limited supply along with anticipated surge in prices have collectively resulted in firming up sponge iron prices in the country.
SteelMint’s assessment for pellet sponge (P-DRI, FeM 80%) in Raipur rose by INR 300/t to INR 30,100/t exw on 28 Jul’21.
About 4,000 t of P-DRI deals were reported at INR 29,800-30,100/t on exw and FoR Raipur basis. However, a few plants have kept offers on hold with planned price hikes in coming days on expected supply shortage.
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