Author: Manish Vasdev

Indian sponge industry is currently suffering with low conversion gap as conversion spread from iron pellet to pellet sponge (P-DRI) fell below INR 8,000/MT levels; narrowed by INR 1,000/MT M-o-M. This situation happens due to sharp fall in lump prices, which led to continuous decline in sponge iron (C-DRI) prices in domestic market. Whereas, iron…