SteelMint’s benchmark sponge P-DRI (FeM 80%) prices fell slightly by INR 100/t on 9 Jun’21 to INR 30,400/t, exw Raipur. Trades pick up today with improvement in billet trade. However, sources believe sponge iron prices are likely to remain under pressure on expectations of easing supply from Raigarh in the coming days where furnaces are currently under shutdown.
- About 5,000 t deals for P-DRI were reported at INR 30,300-400/t against offers of INR 30,400-500/t, exw and FoR Raipur.
- Offers for DR-CLO grade sponge iron are at INR 33,000-33,200/t, while deals of around 2,500 t were reported at around INR 32,800-900/t exw Raipur.
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