SteelMint’s benchmark sponge iron (P-DRI) price increased today by INR 200/t to INR 23,200/t ($318) exw Raipur (central India). The prices have gained as demand remains active following recent rise in billet price. SteelMint confirmed about 3,500 t deals from the local & outside based plants at the range of INR 23,100-23,300/t on exw & FoR basis. Meanwhile, a few plants have also offered at INR 23,500/t exw, however no confirmed deals have been reported till the time of publishing. Sources are expecting further support in offers due to sufficient orders with suppliers.
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