Sponge iron prices in Southern states of India show downward trend on falling ingot prices.Prices fell as much as Rs 200-300/t reported local sources.
Pellets sponge at Bellary is being offered at Rs 19,800-20,000/t (Basic, 78 FeM) down by Rs 200/t. Sponge prices in Goa hovers around 20,900/t (Basic 75 FeM), down by Rs 200/t. Hyderabad sponge market has also noticed a correction of Rs 200-300/t in last few days.
Sponge prices in Central and Eastern India hold firm on short supply and expensive raw material.Sponge iron at Raipur trades at Rs 22,900/t (Basic, 80 FeM)
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