The major sponge manufacturers in Raipur reported no fresh deals today, against decent bookings seen in beginning of week. The producers have offered P-DRI at INR 19,400-600/t exw, however few quantities (upto 1,000 t) traded by outside suppliers at INR 19,400-500/t on FoR Raipur basis. There are less chances of sharp decline in sponge prices, considering today’s NMDC’s price hike by INR 200-240/t for Oct’20 deliveries.
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