India: Sponge iron demand firm in Raipur amid price fluctuation

Sponge P-DRI (FeM 80%) prices in Raipur rose slightly by INR 100/t to INR 29,900/t exw on 2 Sept’21. However, demand stays flat. Demand was observed mainly for rapid deliveries and a majority of suppliers are packed with orders – keeping prices strong for the moment.

• SteelMint confirmed around 3,000 t of P-DRI deals at INR 29,800-30,000/t as against offers at INR 30,000-30,100/t on exw and FoR Raipur basis.
• Inline DR CLO grade sponge iron offers ranged between INR 33,000/t and INR 33,500/t, while SteelMint’s price assessment was stable at INR 32,900/t exw.