SteelMint’s benchmark sponge iron prices remain stable on moderate demand

SteelMint’s benchmark sponge iron (P-DRI) prices remained range-bound today at INR 27,200/t ($375), exw Raipur, Central India, due to moderate demand. About 2,000 t confirmed deals for P-DRI have been reported at INR 27,000-27,200/t on exw & FoR basis against the floated offers at INR 27,200-400/t exw. In line, few trades as well as bids have been reported for DR CLO grade sponge at INR 29,000-29,200/t exw. Sources expect prices to fluctuate amid average demand-supply & marginal change in pellet prices.