SteelMint’s benchmark sponge iron price remains stable, trades improve

SteelMint’s benchmark sponge iron (P-DRI) prices today remained stable at INR 25,500/t exw Raipur, central India, however trade volumes doubled. Local plants in Raipur reported 3,000-4,000 t confirmed deals while about 1,500 t deals have been reported from Raigarh at INR 25,600-700/t FoR Raipur. After sufficient deals, few suppliers from outside have raised offers to INR 25,800-900/t FoR Raipur, however, no deals happened at this range. There are expectations that prices may remain strong due to active demand & costlier raw materials.