Sponge Iron prices in Karnataka move up by Rs 300-400/MT

Sponge Iron prices move up by Rs
300-400/MT. Pellet Sponge Iron of 78 FeM is being offered at Rs 20,800/MT. Whereas, Sponge Iron made
from iron ore is being quoted at Rs 21,300-400/MT.

“Prices have gone up on improved
demand and short supply of pellets in the market. Currently, pellet prices are
being quoted at Rs 8,400-500/MT. Also, on limited availability of iron ore in
e-auction, plants have limited option to buy iron ore” said sources.

Sponge Iron prices are steady in other parts
of India as well. In Raipur, it is being traded at Rs 23,300/MT. Raigarh offers are at Rs  22,900/MT and Sponge Iron in Rourkela is being offered at Rs 21,600-800/MT. (All prices are Basic, Next day payment).