Indian Sponge Iron prices might fall on power cost increase

Sponge Iron prices are anticipated to show downtrend on power price rise.

Raigarh Sponge Iron prices increased by Rs 200/MT and trades at Rs 23,200/MT (Basic price, payment next day) due to higher power tariff while that of Rourkela came down by Rs 200/MT to Rs 21,800/MT (Basic price, payment next day) on account of weak demand.

Pellet Sponge Iron prices of some Mandis' are as shown below.

Raipur: 22,700/MT 

Raigarh: 22,500/MT  

Rourkela: 21,200/MT  

Durgapur: 26,400/MT (Including all, payment next day)   

Bellary: 20,000-200/MT 

(All prices are Basic, payment next day)