SteelMint’s benchmark sponge iron (P-DRI) prices remained stable today at INR 27,000/t ($372), exw Raipur, Central India, despite fall in billet prices. Demand remained supported due to moderate availability of sponge iron with furnaces. About 3,000 t deals were confirmed for P-DRI, which local plants traded at INR 27,000/t exw, while outside plants traded the same at INR 27,000-27,100/t on FoR Raipur basis. In line, deals of sponge DR CLO grade were reported at around INR 29,000/t exw, against offers at INR 29,100-200/t exw. Prices are expected to change slightly on account of active demand & higher raw material prices i.e Pellets & Coal.
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