SteelMint’s price assessment for benchmark pellet sponge (P-DRI, FeM 80%) in Raipur went up by INR 100/t to INR 31,000/t exw. Prices bounced back on improved demand along with slight upward corrections in billet prices seen in the second half of the day (9 Aug’21). Sources expect sponge iron prices to remain strong as suppliers have sufficient orders in hand amidst prevailing supply crunch in the spot market which may keep delivery positions tight.
- About 4,000 t of P-DRI deals were reported at around INR 30,900-31,000/t as against offers at INR 31,000-31,200/t on exw and FoR Raipur basis.
- Offers for DR CLO grade sponge iron stood at INR 34,000-34,200/t, while a few deals for C-DRI mix material were reported at INR 32,900-33,000/t exw.
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