SteelMint's benchmark sponge iron (P-DRI) price fell by INR 100/t to INR 23,700/t ($325) exw Raipur, Central India. This slight correction in prices was due to competitive offers from outside suppliers as well as lower bids. SteelMint confirmed about 1,500 t deals at around INR 23,700/t FoR Raipur, whereas Raipur based plants were offering at INR 24,000-24,200/t exw. Hence, no major deals happened today through the local plants. Sources are expecting trade activities to resume next week as healthy deals have been concluded this week.
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