India: Renewed buying lifts sponge iron prices in Raipur

SteelMint’s assessment for pellet-based DRI (P-DRI) rose by INR 300/t to INR 28,800/t exw-Raipur, for FeM 80%. Sponge iron trades improved today following recovery in billet demand.

• About 6,000 t of P-DRI deals were confirmed in the range of INR 28,500-28,800/t on exw and DAP basis, for FeM 79-80%.
• Also, 1,000 t deals of DR-CLO grade sponge iron were reported at INR 32,600-32,700/t exw.