Indian sponge iron prices continue to move down on low pig iron offers

Sponge iron (DRI) prices in Indian market slips down by another Rs 100-200/t. Market participants say cheaper offers for pig iron has subdued the demand for sponge iron (DRI).

NINL has kept pig iron prices unchanged for rest of the month. 

Current Offers for Sponge iron across India

Raipur= Rs 20,300 (79 FeM, Basic)

Raigarh= Rs 19,200/t-19,300/t (79 FeM, Basic)

Rourkela= Rs 18,600-18,700/t (78 FeM, Basic)

Bellary= Rs 18,500/t (75 FeM, Basic)

Bellary(Pellet Sponge)= Rs 17,000/t (75 FeM, Basic)

Durgapur= Rs 20,300/t (79 FeM, Basic)