Sponge iron (DRI) prices in India continue to decline owing to lower demand and easing of raw material supply. Prices have corrected further by INR 100-300/MT on Wednesday, with offers ranging from INR 18,400-19,400/MT for 78-80 FeM Sponge iron (C-DRI) and INR 17,200-18,200/MT for 79-80 FeM Pellet Sponge (P-DRI).
Key Highlights
- Sponge iron prices in Durgapur have corrected by INR 300 /MT. Current offer for C-DRI is INR 19,000/MT and INR 17,500/MT for P-DRI
- Iron Pellet prices for Fe 63 grade material is prevailing in the range of INR 6,800-7,300/MT (USD 108-115/MT) across India
- Steel grade Pig iron prices are being assessed at INR 20,500-21,500/MT (USD 325-340/MT) across India
- Imported Scrap demand is stagnant on falling Sponge iron prices. HMS 1&2 offers were assessed at USD 310-315/MT, CIF India
C-DRI & Pig Iron Weekly Price Change
| Markets | C-DRI (78-80 FeM) | Weekly Change | Pig Iron (Steel Grade) |
Weekly Changes |
| Raipur | 19,400 | – 150 | 21,900 | – 200 |
| Durgapur | 19,000 | – 1,250 | 20,800 | – 400 |
| Jharsugda | 18,700 | – 200 | 20,700 | – 300 |
| Bellary | 18,800 | – 350 | – | – |
Basic prices in INR/MT on ex-works basis
Taxes as applicable
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