Disparity between bids & offers have resulted in less trades from the Raipur based major sponge manufacturers. Today, the offers were floated at INR 19,100-300/t, while majority of bids were reported at INR 18,800-18,900/t exw. However, a couple of trades (about 1,000 t) were reported by brokers at INR 19,000/t exw. Participants are of the opinion that if demand remains weak, sponge prices may fall further due to limited orders.
Leave a Reply