Central India: Sponge iron prices in Raipur up by INR 100/t on tight supplies

Raipur based sponge manufacturers have further raised offers to INR 20,300-20,400/t exw. However, buying inquiries were not upto the mark and deals of only 1,500-2,000 t were reported at INR 20,200-300/t exw. SteelMint from its credible sources learned that, prices likely to remain strong due to expected tighter supply of raw material & sponge iron along with sufficient orders with sponge makers.