Author: Rounak Gairarey
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Supply shortage triggers sponge price spike in South India
Karnataka-based BMM has raised sponge P-DRI offers by INR 1,000/t, as per SteelMint reports. Prevailing shortage of pellets due to limited offers by suppliers coupled with active demand for sponge iron has resulted in a sharp surge in offers. SteelMint’s assessment for Bellary sponge iron has increased by INR 700-800/t, in today’s trade. About 3,200…