Benchmark sponge iron (P-DRI) prices slightly dropped by INR 50/t to INR 28,750/t ($388), exw Raipur, Central India. After hefty volumes booked in the last 2 days, the inquiries have fallen today, as a result no major deals happened. A few plants are reportedly undertaking maintenance of their kilens, which seems to be positive in terms of sponge iron price movements in the coming days.
- Sponge P-DRI offers were floated at INR 28,800-29,000/t exw. A few deals have been reported at INR 28,700-800/t on exw & FoR Raipur basis from the local & outside plants.
- Sponge DR CLO grade assessment remained unchanged today at INR 30,800/t exw, due to limited suppliers in the spot market.
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