Central India: Raipur sponge iron prices rise further by INR 200/t in recent bookings

Sponge prices in Raipur continued to rally on active demand. Today, major plants have reported a total of 4,000-5,000 t P-DRI deals at INR 19,300-500/t exw. Also, few deals of about 1,000 t in total were assessed from the outside suppliers at around INR 19,400-600/t on FoR Raipur basis. Meanwhile, the local plants in Raipur expect prices to remain strong, which depends more on billet price movements.