India: Rising offers hit sponge iron demand in Raipur

SteelMint’s assessment for pellet-based DRI (P-DRI) rose by INR 500/t to INR 29,900/t exw-Raipur, for FeM 80% material. Rising billet prices amidst tight sponge supply continued to support prices. However, major buyers opt to wait and watch due to lack of confidence on prevailing offers.

• About 3,000 t of P-DRI deals were confirmed in the range of INR 29,700-30,000/t on exw and DAP basis for FeM 79-80% material.