Indian small and medium sponge iron (DRI) units which had been shut for long on factors like expensive and unavailability of iron ore. Sources report SteelMint that many of these units have started operations in recent time over falling ore prices in Odisha.
” Iron ore prices corrected almost Rs 1,000 per tonne in last 2-3 months though sponge iron prices did not fall to a great extent. Sponge units will definitely benefit. Scope of steep rise in prices are difficult in near term.” said a sponge broker based in India.
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