SteelMint’s benchmark sponge iron (P-DRI) price has increased today by INR 100/t to INR 27,100/t ($372), exw Raipur, Central India. Spot trades have gained momentum following a surge in billet prices. SteelMint confirmed about 4,000 t P-DRI deals today at INR 27,000-27,200/t on exw & FoR basis. Also, demand was strong for DR CLO grade sponge & majority of deals have been reported at INR 28,800-29,000/t as against floated offers at INR 29,100-29,200/t exw. Market sources expect prices to remain volatile on expectations of subdued demand.
Leave a Reply