Author: Abhishek Bhalla
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India: Furnaces Increase Sponge Consumption to Reduce Input Cost
Electric arc furnaces or Induction furnaces based in coastal India are more inclined towards melting sponge iron rather than high cost scrap to reduce input cost. As per SteelMint’s assessment, in a month’s duration Indian Sponge iron prices fell by INR 1,500-2,500/MT (USD 21-36), however melting scrap prices in coastal regions (south & western India)…