Active demand for sponge iron was reported in Raipur, Chhattisgarh despite sharp surge in prices by INR 800-900/t d-o-d. About 3,000-3,500 t sponge P-DRI deals were reported by a couple of manufacturers at around INR 20,100-20,300/t while few of them revised offers to INR 20,300-20,500/t exw. Sources believe that rising billet prices may support sponge iron prices in near term.
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