India: Sponge iron offers rise by INR 600/t in Raipur on strong demand

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Pellet-based DRI (P-DRI, FeM 80%) prices rose by INR 600/t to INR 34,400/t exw Raipur today.
6,300 t of P-DRI (FeM 79-80%) deals were reported at INR 34,000-34,400/t on exw and DAP Raipur basis.
Prices are expected to surge further due to sufficient orders with suppliers along with strong demand and higher raw material prices, SteelMint notes.

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