Benchmark sponge iron (P-DRI) prices increased by INR 200/t to INR 25,900/t exw Raipur (central India). A total of around 3,000 t P-DRI deals were reported at INR 25,800-900/t as against offers of INR 25,900-26,000/t exw Raipur. Few buyers have resumed purchases on expectation of positive trend in Jan’21 amidst strengthening billet prices, sources shared with SteelMint. Meanwhile, sponge iron offers from Raigarh remains unchanged at INR 26,100/t FoR Raipur with no fresh deals.
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