Sponge iron (DRI) prices in Indian market have shown signs of improvement in last one week primarily due to rising re-bar and structural prices in Indian domestic market.
Current offers for 78-80 FeM sponge iron is being offered in the range of Rs 18,300-20,300/t (Ex-Works) across India.Another reason sought for rising prices is higher offers for imported scrap and depreciating Rupee against USD. This has made imports slightly expensive in last one week.
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