Eastern India plant offers sponge iron to Raipur at lower rates

An official from Kharagpur, Eastern India based plant has reported sponge P-DRI (FeM 78-79%) offers for Raipur, Central India at around INR 30,000/t FoR, whereas local sponge manufacturers in Raipur have floated offers at INR 30,800-31,000/t exw, for FeM 80%. Yesterday, the plants located in Raipur & outside, sold P-DRI at INR 30,200-400/t on exw & FoR basis. The sponge iron prices in Raipur gained by INR 1,500-2,000/t in the last 2 days, on account of sharp surge in Iron ore prices by NMDC by INR 500-1,280/t.