Sponge iron trades in Raipur remained slow with about 1,000 t P-DRI deals concluded in Raipur at INR 25,300-400/t on exw & FoR basis. Trade sources reported that buyers have turned skeptical & held back major bookings. It was majorly due to hearsay of postponement of hearing related to liquidation of Odisha iron ore stocks. Industry sources believe that demand as well price movement of sponge iron will depend on the court’s verdict.
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