SteelMint’s benchmark sponge iron (P-DRI) price remained stable today at INR 24,100/t ($330) exw Raipur (central India) due to less number of sellers in spot market and limited demand, after having concluded some healthy deals last week. Today, around 2,500 t confirmed deals have been reported at INR 24,000-24,100/t on exw & INR 24,100-200/t on FoR Raipur basis. Further, a major sponge supplier in Raipur has reported maintenance shutdown in one of its kilns (500-600 tpd) for next few days which may tighten supplies in the Raipur spot market.
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