Sponge iron prices move up; sellers unwilling to sell at lower levels

Mandi: Sponge iron prices at Mandi Gobindgarh moved up by Rs
200-300/MT. According to a trader based in Mandi, “Sponge iron yesterday was
sold at around Rs 29,800/MT. Looking at the high cost of raw material, prices
should remain firm at present and  Ingot
should go to the level of Rs 35,000/MT”.

Raigarh: “Demand for sponge iron is good.  Sellers are quoting sponge iron Rs 22,900-23,000/MT
but are able to sell it at Rs 22,800/MT

Rourkela:  “Sponge iron
is quoted at Rs 21,500-22,000/MT. Sellers are not willing to sell at lower
level”.