Raipur Sponge Iron Market Hits Two-Year High Amid Rising Coal Costs
1 report, 1 independent
Updated Sep 1
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What happened
The domestic sponge iron market in Raipur has reached its highest level in two years, with prices continuing to climb into mid-September. The market movement is primarily driven by producers passing on higher costs associated with inputs, specifically thermal coal. Prices for Raipur PDRI sponge iron reached a two-year high of 309 USD/tonne (29,700 INR/tonne) EXW on August 31.
Why it matters
The price increases are predominantly cost-driven, reflecting the impact of rising thermal coal costs on production. This market trend is showing a speculative element alongside the cost-push factors.
Who's involved
- RaipurMarket location where sponge iron prices are currently trending upwards.