Author: Manish Vasdev

Albeit, sponge iron prices have hit rock bottom, buyers are still cautious to take position at current levels of INR 11,500-13,000/MT (78-80 FeM C-DRI) due to declining MS billet prices. In a week, MS billet prices have fallen by INR 800-1,000/MT and sponge prices by INR 500-800/MT. Market participants expect that there is limited scope…