Pellet-based sponge iron, P-DRI (FeM 80%), prices fell by INR 400/t to INR 28,500/t exw-Raipur today. Such low levels of INR 28,450/t were last seen towards end-May.
- 4,000 t of P-DRI deals were reported at INR 28,300-28,600/t against offers at INR 28,600-28,800/t on exw & DAP Raipur basis.
- Market participants are expecting prices to drift higher on active demand and, most importantly, the rebound in coal prices.
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