Sponge Iron manufacturers at Raipur reluctant to cut offers 

Sponge Iron prices at
Raipur have not corrected much in comparison to Ingot and Billet prices.

Production of Sponge
Iron has been low. Ideally, Sponge Iron prices should correct as power prices
in Chhattisgarh have gone up. 

“Manufacturers of
Sponge Iron are booked for the next few days and are unwilling to cut their
offers,” said Sponge Iron brokers.

Sponge Iron prices
have not reacted much in other states as well compared to correction in Ingot
and Re-bar prices.

Raigarh Sponge Iron
prices correct by Rs 400/MT at Rs 22,800/MT (Basic, next day) whereas Rourkela Sponge Iron trades at Rs 21,300/MT (Basic, next day), down by Rs 500/MT. Prices have not changed much in proportion to Ingot and Billet offers.

Bellary Pellets Sponge Iron is being quoted at Rs 20,000/MT (Basic price).