Author: Manish Vasdev
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Falling Prices Dent Margins of Indian Sponge Makers
With falling steel prices, the sponge iron margins mainly of standalone sponge makers have reduced as the raw material prices have witnessed comparatively less decline. As per SteelMint analysis, monthly average price gap between iron pellets to sponge P-DRI has dropped sharply to INR 11,300/MT in Mar’20 as against INR 12,300-12,400/MT in Feb’20, considering eastern…