A major merchant sponge supplier in Raipur reported limited demand despite decline in offers by INR 200/t, D-o-D. Officials reported, about 2,000t sponge P-DRI has been sold at INR 15,500-600/t EXW, while the target was quite high as there were no major orders since the beginning of this week. Sources expect prices to remain under pressure in central & eastern India on demand-supply mismatch & fall in billet prices.
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