Improved demand and re-stocking of finished steel in Indian market have shown improvement in sponge iron demand as well, highlight market participants.
“There are signs of improved demand for sponge iron.With plants running at low capacities, it should support prices in near term. Although prices have not gone up in same proportion as finished steel prices have gone up. But certainly we see strong demand if finished steel prices continue to move up.” said a sponge broker based in Chattisgarh.
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