The sponge P-DRI prices in Southern India – Bellary (Karnataka) rebounded by INR 500/t to INR 22,500-700/t exw following improved demand from furnace owners. Officials from BMM Ispat, one of the major sponge producers, have stated about 3,000 t deals, while other mid-sized plants confirmed deals of around 2,000 t today. This resulted in an increase in sponge prices on a d-o-d basis. Further, it is expected to remain supported, SteelMint learned from trade sources.
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