Author: Manish Vasdev
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India: Raipur sponge iron prices rise despite declining billet prices
Sponge iron prices remained strong across markets, even though steel billet prices declined in today’s trade. SteelMint’s assessment for pellet sponge (P-DRI, FeM 80%) rose by INR 100/t to INR 30,800/t exw-Raipur. Manufacturers reported that sponge iron prices would depend on NMDC’s price revision, which is still awaited. Meanwhile, a majority of plants were not…