DRI prices - direct reduced iron - Indian exports.

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DRI Prices.

Steelmaking input costs - Direct Reduced Iron


DRI export prices, $ / metric tonne
YearMonthIndian exports
20111412
20112428
20113465
20114454
20115462
20116464
20117470
20118478
20119487
201110625
201111678
201112442
20121453
20122531
20123494
20124476
20125467
20126466
20127449
20128428
20129377
201210392
201211607
201212409
20131408
20132418
20133431
20134407
20135409
20136369
20137371
20138389
20139323
201310341
201311346
201312369
20141365
20142353
20143341
20144381
20145359
20146376
20147376
20148372
20149376
201410384
201411363
201412339
20151355
20152340
20153327
20154304
20155308
20156297
20157268
20158261
20159251
201510252
201511233
201512211
20161204
20162202
20163211
20164217
20165217
20166211
20167217
20168209
20169207
201610216
201611227
201612240
20171243
20172242
20173255
20174261
20175282
20176285
20177259
20178261
20179278
201710287
201711281
201712269
20181276
20182332
20183358
20184351
20185338
20186338
20187330
20188313
20189316
201810334
201811344
201812330
20191313
20192307
20193304
20194296
20195298
20196297
20197281
20198312
20199246
201910243
201911240
201912242
20201254
20202275
20203266
20204256
20205245
20206254
20207230
20208236
20209257
202010264
202011278
202012326
20211356
20212352
20213350
20214377
20215398
20216407
20217417
20218425
20219415
202110435
202111449
202112430
20221417
20222454
20223470
20224510
20225485
20226442
20227415
20228432
20229431
202210436
202211408
202212394
20231396
20232409
20233413
20234401
20235392
20236366
20237361

Table last updated: 8th November 2023. Next update: ~ 10th January 2024.


Notes and definitions

1) Figures above are average monthly fob export [not spot prices] for direct reduced iron shipped from India. All prices are expressed in US dollars per metric tonne.

2) The price data is for harmonised system code #720310 which is defined as ferrous products obtained by direct reduction of iron ore.

3) Note that latest price points (the last one or two months in particular) may change, as additional customs data becomes available.

Further information

Direct reduced iron (DRI), also called sponge iron, is produced from the direct reduction of iron ore (in the form of lumps, pellets, or fines) to iron by a reducing gas or carbon produced from natural gas or coal. Its main use is as raw material feedstock for electric furnaces in mini mills, where DRI can be used as a scrap substitute.

Hot briquetted iron (or HBI) is direct reduced iron that has been briquetted under very high pressure and at an elevated temperature to form dense briquettes that are much less porous than DRI and therefore much less reactive to the atmosphere. Oxidisation of DRI generates heat, which in bulk cargoes of DRI can be significant and represent a real hazard. Oxidation of DRI is furthermore is accelerated in the presence of moisture and is substantially increased if the water contains dissolved chlorides, as is the case with seawater. Sea transport of DRI in the form of HBI is thus often preferred, because of safety considerations.

Because direct-reduced iron has about the same iron content as pig iron (typically 90–94%) it is an excellent feedstock for the electric arc furnace. It can also be used in the blast furnace with benefits such as reduced coke rates and higher blast furnace productivity.



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