Sponge iron prices continued to rally in Raipur due to supply shortage in spot market followed by improved sourcing by Jindal Steel due to technical glitches in their couple of sponge iron kilns. About 2,500-3,000t P-DRI deals were reported at INR 15,700-900/t by majority of Raipur based producers, after which offers have been increased to INR 16,000-16,100/t, EXW.
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