India’s one of the largest sponge producing region, Raipur is facing supply crunch of the metallic material due to maintenance shutdown at a few plants. About 3 major producers confirmed that their kilns (one each) are on maintenance since the last 2 days thereby affecting daily production of around 1,500 t. Operations are expected to resume post-Diwali. Sponge prices in Raipur rose by INR 600-700/t, d-o-d, on 11th Nov’20, as per SteelMint’s assessment.
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