Central India: Raipur based sponge mills reduce price by INR 1,500/t

Raipur based major sponge iron manufacturers today reduced P-DRI prices by INR 1,400-1,500/t to INR 20,000-20,100/t exw. These sponge mills account for about 25-30% of total sponge iron spot sale. Significant fall in billet prices (around INR 1,000/t d-o-d) & limited inquiries resulted in price cut, sources reported to SteelMint.