Sponge manufacturers at Bellary (Karnataka,India's southern region) continued to keep their offers unchanged although buying sentiments are not that strong, highlight market participants.
Offers for 75 FeM pellet sponge are stands at Rs 17,400/t (Ex-Works Bellary), where as Sponge iron of 75 FeM being offered at Rs 18,800/t (Ex Works Bellary). Steel plants are hopeful that Supreme Court will clear mines which fall under category 'B, which will give some improvement on supply of iron ore.
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