SteelMint’s benchmark sponge iron price up by INR 200-300/t on improved inquiries

SteelMint’s price assessment for sponge iron increased by INR 200-300/t (d-o-d) in Raipur (central India). Trades improved by 60% d-o-d, following surge in billet price. Total of around 3,000 t P-DRI trades have been reported by local plants at INR 25,000-25,200/t exw in Raipur. Meanwhile, about 1,500 t deals were reported from Raigarh & Odisha at INR 25,200-25,400/t on FoR Raipur basis. Sources mentioned that prices are less likely to rise sharply as trade volumes are not up to the mark.