India: Over 2,500 t of sponge iron sold by Jharkhand-based producer

A leading sponge iron manufacturer based in Jharkhand’s Chailma has reportedly sold around 2,500-2,600 t of sponge iron (FeM 78%, mix of 60% lump and 40% fines) at an average price of INR 29,800/t exw. The plant, known as as a price-setter in the Jharkhand market, has a capacity of around 2,000 tonnes/day. Sponge iron prices increased today by up to INR 800/t in the major markets of central, east and south India due to active demand following a surge in billet prices.