Central India: Sponge iron prices hit two-month’s high on supply concerns

Sponge prices in Raipur have hit two-month’s with hike in offers by INR 300/t, d-o-d. The major producers are holding sales due to supply concerns. A total of 1,500-2,000 t P-DRI deals were recorded today by SteelMint at INR 20,600-800/t exw. Prices are expected to rise further tomorrow due to demand-supply mismatch.