Author: Manish Vasdev
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Sponge Trade Weakens Post MIP Hike and Report High Inventory
Post MIP MS billet buying has surged to some extent however demand of Sponge Iron reported weak proportion. Sponge Price increases by INR 800-1,500/MT compared to last week price after imposition of MIP. However demand at this level were literally absent reported many sellers based in Raipur, Rourkela, and Durgapur. Sponge Iron Manufacturing Association (SIMA)…