Benchmark sponge iron (P-DRI) prices increased by INR 300/t to INR 26,600/t exw Raipur (central India). A total of around 1,000-1,500 t P-DRI deals were reported at INR 26,500-600/t as against offers of INR 26,600-26,800/t exw Raipur. Also, a few trades have been reported from Raigarh & Odisha at INR 26,700/t FoR Raipur. Following a surge in billet prices, the sponge iron makers are raising their prices despite limited trades, trade sources reported to SteelMint.
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