Sponge iron trades remained on an average basis, however supply shortage led to a surge in SteelMint’s benchmark price range by INR 600-700/t, d-o-d in Raipur. As per 4-5 sponge manufacturers, a total of about 3,000 t P-DRI deals have been concluded today at the range of INR 22,500-23,000/t, of which 80% of the material have been sold at INR 22,700-23,000/t exw. There are assumptions that prices may remain strong due to sufficient deals today as well as falling supply & continuous rise in raw pellet offers.
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