Saturday, September 4,
Iron ore prices in India show an upward trend for past few days due to unavailabilty. Prices have gone up to Rs Rs 400-600/Mt in last ten days. This is majorly due to unavailability of ore in the market, recently Orissa govt has suspended 14 mines in the region for violation of forest laws.
Fews mines which are operating have raised their prices by Rs 600/MT last week.
“Iron ore prices at these levels are not sustainable for sponge plant manufacturers, though steel market has recovered a bit.” said sponge iron manufacturer based in West Bengal.
Despite high sponge prices ,most of the sponge units have stopped their production due to unavailability of ore.
Reported by Richa Sharma (Richa@steelmint.com)
Leave a Reply