Sponge iron prices have shot up further by INR 300-500/t d-o-d amidst supply shortage in Raipur and Raigarh spot markets. The major sponge players stayed out of the market due to low production and increased captive consumption amidst good orders in hand. This resulted in a continuous surge in prices. Today, a few deals have been reported for sponge P-DRI at INR 25,300-500/t exw Raipur, however the suppliers closed sales after sufficient orders. Sources believe sponge prices may remain strong on demand-supply mismatch.
Leave a Reply