India: Sponge iron prices rise further on active buying in Raipur

Pellet-based DRI (P-DRI, FeM 80%) prices rose by INR 400/t to INR 32,500/t exw Raipur today, as per SteelMint’s assessment. Prices rallied on active demand amidst slight supply shortage and rising billet prices.

• 4,000 t of P-DRI deals were reported at INR 32,400-32,500/t on exw and DAP Raipur basis.
• DR CLO grade sponge iron traded at INR 35,400-500/t exw. After sufficient orders, the major suppliers closed sales for today.