SteelMint’s benchmark sponge iron (P-DRI) price increased today by INR 100/t to INR 24,100/t ($330) exw Raipur (central India). The prices remained supported on account of improved trades as about 6,000-7,000 t confirmed deals have been reported from the manufacturers in Raipur & outside (Raigarh & Odisha) at INR 24,000-24,200/t on exw & FoR Raipur basis. As sponge makers have sufficient orders in hand, they are planning to hike prices further for next orders.
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