The mid-sized sponge plants have raised their offers significantly due to a surge in iron ore prices along with a temporary supply shortage of sponge iron and strong export demand. The fresh offer of sponge C-DRI stand at INR 25,000-25,200/t exw Rourkela, which is 26 months high. Officials from Odisha based largest sponge plant reported that their domestic sales are on hold due to the maintenance shutdown of 500 TPD kiln in Joda. Hence fresh offers are likely to be quoted in Dec.
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