Indian sponge prices kept stable on Friday.Manufacturers unwilling to cut offers looking at increasing problem of limited supply of imported scrap and concerns of falling Rupee.
1. Rourkela sponge manufacturers offer 78% FeM at Rs 22,000/t (Basic).
2. Raigarh prices hover around at Rs 23,000/t (Basic) for 80 FeM.
3. Raipur prices also remain unchanged at Rs 23,500-600/t
4. Durgapur sponge prices trade around Rs 27,300/t (Inc All)
5. Sponge prices at Girdih (Jharkhand) moves up by Rs 200/t at Rs 25,700/t (Inc all).
6. Indian scrap importers wait for foreign offers to cut by at least $15-20/t.
7. HMS 80:20 offered from UK suppliers at $ 450/t CFR Mumbai.
8. Rupee recovers from all time low, currently trading at 55.40 / USD.
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