The major sponge iron manufacturers in Raipur have reported limited deals today, despite drop in offers by INR 100/t. Offers were floated at INR 19,000-19,200/t exw, while few deals of 1,500-2,000 t were reported at INR 19,000/t exw. The majority of buyers are waiting for price corrections which has resulted in poor inquiries since last couple of days. Meanwhile, billet offers rose today by INR 200/t.
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