Intel Details

India: Low bids weigh on sponge iron prices in Raipur

Sponge Iron
25 Aug 2021, 18:52 IST
Steel Mint Intel

Sponge P-DRI (FeM 80%) prices in Raipur fell slightly today by INR 100/t to INR 30,100/t exw. Prices dropped due to lower bids along with expectation of a further fall in offers following softening raw material prices. Hence, bids remained low by around INR 300-500/t compared to prevailing offers.

  • Around 1,500 t of P-DRI deals were confirmed at INR 30,000-30,200/t versus offers of INR 30,300-30,400/t on exw-Raipur basis.
  • DR CLO grade sponge iron offers stand at INR 33,400-33,600/t; however, no major deals were reported, while counter offers through Jalna-based buyers were reported at INR 33,100-33,200/t exw Raipur.

25 Aug 2021, 18:52 IST
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