Indian sponge iron prices fall by Rs 800-1000/t M-o-M

Sponge iron DRI prices in Indian market correct over Rs 800-1000 per tonne in last one month on falling ingot and billet prices. Although market brokers and manufacturers believe that higher costs of imported scrap will support sponge iron prices in near term.

Current Offers for Sponge iron across India

Raipur= Rs 20,200 (79 FeM, Basic)

Raigarh= Rs 19,300/t (79 FeM, Basic)

Rourkela= Rs 18,300 (78 FeM, Basic)

Bellary(Pellet Sponge)= Rs 16,800/t (75 FeM, Basic)

Durgapur= Rs 23,500/t (79 FeM, Incld all )