SteelMint's benchmark sponge P-DRI (FeM 80%) prices plunged by INR 300/t to INR 30,800/t, exw Raipur, on 7 Jun'21. The prices fell due to low bids on falling billet prices. In addition, roll-over in NMDC's Jun'21 iron ore prices has affected trade as buyers are expecting further drop in sponge prices.
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