Indian sponge prices remain unchanged on Friday. Market participants expect prices should stabilize at these levels.
There is some good news for sponge iron manufacturers based in South India, where Supreme court has allowed 'A' category miners to re-start mining.
Industry experts say this is a positive move for steel industry in South, though it might still take 2 months from now to actually start mining.
Sponge prices at Raipur being quoted at Rs 23,600/t where as Raigarh remain unchanged at Rs 22,700/t and Rourkela at Rs 22,500/t.
Prices at Bellary being offered at Rs 20,000-20,200 for sponge made from pellets, where as sponge made from iron ore being offered at Rs 20,800-21,000/t.
Note: All prices are Basic
Leave a Reply