Sponge iron (DRI) prices in Central India,largest sponge producing state in the country, have gone up by Rs 1,000/t in last one week on improved demand. Currently sponge iron of FeM 78-80 is being offered at around Rs 19,700-19,800/t (Ex- Raipur).
Although other parts of the country have not noticed such sharp rise and offers are quite same at around Rs 17,700-19,800/t Ex- Works.
Industry participants highlight that over all demand has not been very strong though prices look to have bottomed out.
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