A leading sponge iron manufacturer based in Jharkhand’s has reportedly sold around 3,500-3,700 t of sponge (FeM 78%, mix of 60% lump and 40% fines) at an average price of INR 29,700/t exw. The plant, known to be a price-setter in the Jharkhand market, has capacity of around 2,000 tonnes/day. Sponge iron prices rose slightly on 15 Jul’21 following gains in the billet market. Sources informed that robust demand has resulted in a rise in sponge iron sales while producers are looking for exports, too.
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