Sponge iron (DRI) prices in India have moved up by Rs
400-600/MT after Orissa mining authorities stopped issuing permits to
sponge iron manufacturers outside the state till November first week.
DDM (deputy director of mines, Joda) have asked all sponge iron manufacturers to submit their audited balance sheet for last 4 yrs along
with procurement details.
“There are no permits being issued and supply of iron
ore will be tight in short term. Sponge prices are expected to remain high.
Most of the manufacturers have diverted their purchases to scrap.” said Mr
Mundra, an integrated steel plant owner based at Raipur.
Sponge iron prices in
India
Raipur- Rs 24,000/MT
Raigarh- Rs 23,400/MT
Rourkela -Rs 22,000/MT
Basic prices, taxes and excise extra
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