Indian sponge prices continue to trade high on better demand from Ingot manufacturers. Manufacturers raise their offers by Rs 100-200/t on Monday morning.
” Demand has improved as compared to last week, buyers are willing to place fresh orders as they anticipate further hike in coming days.” said a sponge broker based in Raipur.
” Lots of steel mills based in UP are buying sponge from Raigarh and Rourkela on low availability of scrap (due to elections).” said a sponge manufacturer based in Raigarh.
Current Prices
Raipur= Rs 23800++
Rourkela= Rs 22500++
Hyderabad=Rs 22000++
Bellary=Rs 20800-21000++
Durgapur=Rs 26200*
++ Basic prices, excise and taxes extra
* Prices incld all
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