SteelMint’s benchmark pellet sponge (P-DRI, FeM 80%) prices fell by INR 100/t to INR 29,700/t exw Raipur on 23 Jul’21. Prices dropped slightly as bids were lower today along with soft buying interest due to the plunge in ingot and billet prices by up to INR 450/t d-o-d.
About 2,000 t of P-DRI deals were reported at INR 29,600-29,700/t as against offers at INR 29,800-30,000/t exw and FoR Raipur. A few bids were reported at INR 29,500/t but the deals couldn’t be confirmed till the time of publication.
Prices of DR CLO grade sponge iron stayed firm owing to limited supplies and the trade reference price stood at INR 32,700-800/t as against floated offers at around INR 33,000/t exw.
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