SteelMint’s benchmark sponge iron (P-DRI) price has declined further by INR 100/t to INR 27,100/t ($372), exw Raipur, Central India, however trade volumes improved. Trade sources confirmed around 3,500 t deals concluded in the range of INR 27,000-27,200/t on exw & FoR basis. In addition, DR CLO grade sponge was traded at INR 28,800-29,000/t as against floated offers at INR 29,000-29,200/t exw. Market sources are expecting a slight rise in offers following improved spot trades of sponge iron & billets along with higher pellet & silico manganese prices.
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