“Sponge Iron demand subdued in Quarter 2 and 3. Buying is
to improve in the 4th Quarter, and reduced supply of iron ore in Goa, Karnataka and
Odisha should support Sponge Iron prices”, said Mr. Amitabh Mudgal, Senior VP for Marketing and Corporate Affairs at MIEL, New Delhi.
“Sponge Iron demand will rise due to increase in capital goods production,
which saw a fall of 7-8% and has recovered by around 3%.
Though, there is fear of steel imports from
Korea and Japan, industrial index production (IIP) data is showing positive signs”, added the official.
Pellet prices in domestic market have also gone up recently on tight supply of ore.
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