Benchmark sponge iron (P-DRI) prices declined by INR 200/t to INR 26,400/t exw Raipur (central India). A total of around 1,000 t P-DRI deals were reported at INR 26,400-500/t as against offers of INR 26,500-26,800/t exw Raipur. Also, a few deals were reported from outside suppliers at INR 26,500-600/t FoR Raipur. As per billet makers, availability of sponge iron has improved in Raipur, hence prices are less likely to rise further, despite price hike for iron ore by NMDC.
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