Despite weak demand, Sponge iron prices are firm on sufficient supply, low iron ore prices and rise in scrap and pig iron offers overseas.
Chief Marketing Manager of Tata Sponge Iron Ltd, Jamshedpur – Mr. M.K. Sheshadri told SteelMint, “2012 was fairly good and offers have stabilized from mid of Dec, that were high due to low production earlier.
I foresee a rise of 10-20% in prices as government will soon take the major steps towards huge investment planned for infrastructural development.
Demand should be good in the first half of 2013 as prices stay range bound during monsoons. Our current offers are at Rs 21,000/MT (Ex Jamshedpur).
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