Sponge iron demand remains active in Raipur despite sharp surge in prices. About 4,000-5,000 t sponge P-DRI deals were reported by 3-4 major manufacturers at INR 18,200-400/ex-plant, following which they closed sales for today. Few mid sized plants were looking to deal above INR 18,500/t ex-plant. As per SteelMint’s assessment, prices rallied by INR 1,000/t in last 2-3 days. Sources expect prices to remain supported due to sufficient orders with suppliers & increase in offers due to shortage of raw material.
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