A West Bengal (Eastern India) based renowned plant has floated sponge P-DRI (FeM 78-79%) offer at INR 25,400/t exw (equivalent to INR 27,000/t FoR Raipur), while local sponge manufacturers in Raipur have floated offers at INR 27,400-27,500/t exw, for FeM 80%. Resellers are taking advantage of this & the same is being offered to the furnaces. However, with limited response from local plants in Raipur, the sponge iron prices have remained stable despite strengthening billet prices.
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