Indian sponge prices trade in the same range.Trading volumes have been good as buyers anticipate further shortage of imported scrap.With monsoons approaching Indian coasts, sponge production will be low and buyers are not hesitant to take positions.
1. Sponge prices at Raipur hovering at Rs 23,300/t (Basic), where as Raigarh offered at Rs 22,800/t (Basic) and Rourkela at Rs 21,700/t (Basic).
2. Sponge prices in Karnataka loose some shine amid power crisis in southern part on India. Prices are hovering in the range of Rs 20,800-21,200/t (Basic).
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