“Sponge Iron demand is weak as and buying is taking place in small quantities only. Construction activities are less due to which finished products are not being sold. Ultimately, the demand in raw material has also come down.
Markets in South are facing power availability issues from a long period.
Scrap is costlier and there is shortage of Iron ore. Coal is cheaper but as rupee is down, we have to pay more if we are importing coal.
Sponge Iron consumption is anticipated to increase keeping prices unchanged.
Even if prices go down, it will be in the range of Rs 100-200/MT in the first week of the next month only.
Bellary Sponge Iron is being offered at unchanged at Rs 21,000/MT (Basic price),” reports a manufacturer from Bellary.
Raipur Sponge Iron is being offered at Rs 23,600/MT (Basic price) and Durgapur quotes its prices at Rs 27,100/MT (Including all).
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