Intel Details

India: Raipur sponge prices soften on expected supply improvement

Sponge Iron
20 Aug 2021, 19:09 IST
Steel Mint Intel

SteelMint's price assessment for sponge P-DRI (FeM 80%) dropped by INR 150/t to INR 31,700/t exw-Raipur on 20 Aug'21. Prices softened on expectations of a further drop in offers on improving supply in the coming days. Meanwhile, overall trends remain sluggish due to declining pellet offers in Raipur.

  • About 4,500 t of P-DRI deals were confirmed at INR 31,550-31,700/t on exw and FoR Raipur basis. However, a few major buyers were heard placing bids at INR 31,400-31,500/t, although no deals were confirmed at these levels till the publication of this daily assessment.
  • Bids for DR CLO grade sponge iron dropped to INR 34,600-700/t versus offers at INR 34,800-35,000/t exw.

20 Aug 2021, 19:09 IST
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