Sponge Iron prices have shot more than Rs
500/MT in the first week of April on power hike and high Iron Ore prices. Industry
experts feel that demand is likely to remain positive on better construction
activity.
“I am
optimistic regarding the demand part for Sponge Iron. Demand will be better
compared to the last quarter i.e. Jan, Feb and March. As inflation has come
down, the five year plan (Budget) is announced and Government has come up with
new spending, therefore construction sector is anticipated to pick up fast.
The first quarter of financial year 2012-13
i.e. April, May and June seems to show good deals of Sponge Iron as this is the
peak season for construction activities to boom. Monnet Ispat is quoting its
Sponge Iron prices at Rs 24,500/MT (Basic price) at Raigarh,” quoted a Senior
official at Monnet Ispat.
Sponge Iron in Raipur is trading at Rs 24,200/MT
(Basic price, payment next day), down by Rs 200/MT and Bellary is offering
Sponge Iron at Rs 20,500-700/MT (Basic price).
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