India: Raipur sponge prices witness slight correction despite firm demand

SteelMint’s price assessment for sponge P-DRI (FeM 80%) dropped slightly by INR 50/t to INR 31,850/t exw-Raipur on 19 Aug’21.

• About 3,000 t of P-DRI deals were confirmed at around INR 31,700-31,900/t on exw and FoR Raipur basis. Local plants floated offers at INR 32,000-32,100/t exw.
• Offers for DR CLO grade sponge iron stand at INR 34,900-35,000/t exw. Inline, offers for C-DRI mix material were assessed at INR 34,000/t FoR Raipur through an Odisha-based plant.