India: Sponge iron prices in Raipur rise on active demand, supply shortage

Pellet-based DRI (P-DRI, FeM 80%) prices rose by INR 700/t to INR 31,200/t exw-Raipur today, as per SteelMint’s assessment. Prices remain strong on slight supply shortage, active demand and surge in coal & billet offers.

• About 4,000 t of P-DRI (FeM 79-80%) deals were reported at INR 30,900-31,200/t versus offers of INR 31,200-31,400/t on exw and DAP Raipur basis.
• DR-CLO grade sponge iron deals were confirmed at INR 34,000-34,200/t exw.