Intel Details

India: Raipur sponge prices drop, further downside limited

Sponge Iron
6 Aug 2021, 19:15 IST
Steel Mint Intel

SteelMint's assessment for benchmark pellet sponge (P-DRI, FeM 80%) prices in Raipur fell by INR 100/t to INR 31,000/t exw. Prices dropped slightly today on limited bids as well as declining billet prices by INR 150/t d-o-d. However, the likelihood of further fall in prices seems limited, as suppliers are holding on to offers, unwilling to cut prices on account of sufficient orders amid limited supply.

  • A few P-DRI deals were reported at around INR 31,000/t as against offers at INR 31,100-31,200/t on exw and FoR Raipur basis.
  • Offers for DR CLO grade sponge iron stayed firm at INR 34,200-34,400/t, while bids dropped slightly to around INR 34,000-34,100/t exw.

6 Aug 2021, 19:15 IST
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