“Power cuts in
Durgapur have affected Sponge Iron demand and prices. Demand from
Induction furnaces is weak as they are not running in full capacity on power availability problems. There is sort of excess availability of Sponge Iron in
the eastern region due to weak buying”, said a senior official at Tata Sponge.
“Supply of Iron Ore and Pellets is
ok presently. Hence, Sponge Iron
prices might stabilize in near term. Our present offers
is in the range of Rs 20,600-21,000/t (Ex plant). We are expecting prices to rise once
markets in Durgapur and Mandi picks up”, he added.
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