Sponge iron (DRI) offers continue to move down in southern India on slow off take and weak demand on account of Telangana issue in Andhra Pradesh. Manufacturers cut their offers further by Rs 200-300 per tonne.
Pellet sponge of 75 FeM being offered at Rs 17,000 per tonne (Ex- Bellary, Basic) where as pellet sponge of 78 FeM being offered at around Rs 17,500/t (Ex- Bellary, Basic).
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