Central India: Limited sponge iron trades reported on falling billet prices

Sponge iron trades have slowed down following continuous drop in billet prices. A total of around 2,500 t deals have been concluded at INR 22,500-600/t on exw & FoR basis, of which about 1,000 t were sold by Raigarh based plants, SteelMint learned in a conversation with plant owners. However, there is limited scope for further fall in price range as supply is expected to remain tight with scheduled maintenance of sponge iron kilns by a couple of plants in Raipur, sources said.