Sponge iron prices in Bellary corrected over Rs 500/t in last one week and upto Rs 1,000/t in last 1-month.With on going power cuts in neighboring states like Tamil Nadu and A.P. ,demand has come down, reported local mill owners.
Currently sponge made from pellets is being offered at Rs 20,000-200/t (Ex- Bellary 78% FeM). Where as sponge processed from Iron Ore are quoted at Rs 20,600-20,800/t (Ex Works Bellary).
Sponge prices in other parts of India remained stable amid low production and high input cost.
Raipur=23,000/t ++
Raigarh=21,900/t ++
Rourkela=21,500/t++
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