Sponge offers are continuously on downtrend owing to improved supply & falling billet prices. This has led to rise in disparity between bids & offers as few deals by Raipur based small size plants were learned at INR 14,600/t EXW Raipur while major secondary mills are not willing to deal below INR 14,700-800/t EXW for P-DRI. Major buyers are interested to book volumes at below INR 14,500/t EXW.
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