BMM Ispat slashes sponge offers by INR 800/t on weak demand, falling pellet prices

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Karnataka, Bellary-based BMM Ispat has decreased pellet based sponge iron (P-DRI) offers by INR 800/t to INR 28,500/t, exw.
Offers have been reduced due to limited buying along with falling raw material (pellet) offers, which dropped recently by INR 150/t to INR 13,850/t, exw Bellary.
Billet prices in Hyderabad remain stable at INR 43,000/t, exw.
BMM Ispat sponge iron plant has a production capacity of 2,300 t per day (equivalent to 0.7 mn t per annum). The company is the largest sponge iron producer in south India and supplies material mostly to western India as well as neighbouring states.

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