Central India: Sponge iron prices hit 20-month high

Sponge iron prices in Raipur hit the highest since Feb’19 with the hike of INR 500/t, d-o-d in recent deals, as per SteelMint’s sources. Today, a total of 5,000 t confirmed P-DRI deals were reported by 4-5 plants at INR 21,300-21,600/t against offers of INR 21,700-900/t exw, for P-DRI. As the majority of plants are packed with healthy orders, the offers are likely to remain strong for the near-term. Also, there was good demand for billet in Raipur with about 5,240 t being traded today, as per daily Index.