Market has witnessed sluggish demand on factors such as power cut in states like Punjab, Bengal and Uttar Pradesh and slow down in construction activities.Sponge Iron prices have fallen in the range of Rs 500-1,000/MT in the last few days.
Sponge Iron prices generally stay firm during monsoons as production comes down. But this year it has happened the other way round probably offers were already high. Improved supply of iron ore and falling steel prices in secondary markets supported the fall.Our offers stand at 21,700/MT (Ex-Works).
Reported senior official at Tata Sponge
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