Sponge iron makers in Bellary have raised their offers following a constant rally in pellet prices due to shortage of pellets and iron ore in the spot market. As per assessment, pellet prices in Bellary rose by INR 2,000/t m-o-m. This has pushed sponge prices to an all-time high since the data maintained by SteelMint from Nov ‘2016. Fresh offer of P-DRI stands at INR 25,500-25,700/t exw, up by INR 3,500/t, m-o-m.
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