SteelMint’s price assessment for sponge iron dropped by INR 100-200/t (d-o-d) in Raipur (central India), however trade volumes improved significantly on lower offers. The local producers in Raipur floated P-DRI offers at INR 24,500-24,700/t exw & a total of about 6,000 t deals were confirmed. Also, around 2,000 t were sold by Raigarh/Odisha based plants at INR 24,600-700/t on FoR Raipur basis. It is expected that Raipur based manufacturers may raise offers by INR 200-300/t, due to healthy bookings today.
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