Sponge demand in Andhra Pradesh has improved on better supply of electricity in the state.According to sources steel production will increase on new norms given by state electricity board.
“New guidelines will certainly help increasing the production though weak demand will keep prices subdued in next few months.” said a sponge supplier.
Current offers vary in the range of Rs 19100-19200/t (Basic, 75-76 FeM Pellet Sponge), he further added.
Where as 78 FeM pellet sponge is offered in the rarnge of Rs 19,400-19,500/t (Basic).
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