Benchmark sponge iron (P-DRI) prices increased by INR 100/t to INR 25,600/t exw Raipur, central India, following gains in billet price which moved up by INR 400/t, d-o-d. About 3,000 t confirmed deals were reported at INR 25,500-600/t exw Raipur, while around 1,500 t deals have been reported from Raigarh at INR 25,800-26,000/t FoR Raipur. Meanwhile, few of plants in Raipur are holding offers and eyeing to trade at around INR 25,800-26,000/t. However, due to the association’s decision on maintaining the same price for a week, they are holding their sales.
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