Author: Rounak Gairarey
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Indian sponge iron prices less likely to fall further – SteelMint Analysis
After hitting over 3 years low, the domestic sponge iron prices rebounded yesterday by INR 200-500/t in major locations on account of improved demand and rally in billet prices. As per SteelMint analysis, sponge prices are less likely to fall drastically looking at high production cost versus prevailing offers of sponge. The margins (conversion spread)…