Author: Rounak Gairarey
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India: Sponge iron offers drop sharply in eastern India as furnaces’ curtail production
Sponge iron prices in eastern India (Durgapur) have dropped sharply by INR 1,000/t ($14) w-o-w. However in the same duration it plunged by INR 100-600/t in other key markets of the country. SteelMint learned that, sponge iron consumption has come down in major locations due to curtailed furnaces/hot rolling mills production, resulting in sufficient availability…