SteelMint’s benchmark sponge iron price drops slightly on less inquiries

SteelMint’s price assessment for sponge iron dropped by INR 50-100/t (d-o-d) in Raipur (central India). The local producers in Raipur floated P-DRI offers at INR 25,000-25,200/t, while a few buying inquiries were reported at around INR 24,800/t exw. Also, Odisha & Raigarh based plants floated offers at INR 25,100-200/t FoR Raipur, but no major trades have been reported. Inquiries were limited at lower price as buyers stayed away from taking positions on account of healthy bookings yesterday and with slight fall in billet price today, sources highlighted.