Benchmark sponge iron (P-DRI) prices fell further by INR 400/t to INR 26,000/t exw Raipur (central India). Few deals & bids were reported by SteelMint at INR 26,000/t as against offers of INR 26,300-26,500/t exw Raipur. Also, offers from Raigarh based plants remained on the higher side at INR 26,400-500/t FoR Raipur but no deals were heard. Looking at decent availability of sponge iron, the major buyers have kept themselves away from making purchases and are eyeing for softening in offers.
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