Sponge iron trades slowed down following weakening demand of billet & finished long steel. Today, Raipur based plants have kept offers unchanged for sponge P-DRI at INR 24,400-500/t exw, however no major deals reported. Meanwhile, a few deals (up to 1,000 t) were learned from outside suppliers at nearly INR 24,500/t on FoR Raipur basis. Participants are optimistic about future forecasts, however uncertain market trends remain a concern.
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