Indian Sponge Iron Prices at INR 19,300-21,300/MT

Place

Sponge

M-o-M

Market Sentiments

Mandi

      23,300

     600

Sponge prices rise in line with rise in Scrap prices. Induction furnaces prefer Scrap over Sponge

Rourkela

      19,250

  850

Sponge prices rise with increase in demand from domestic market. Sponge production capacity is around 8 MnT

Durgapur

         20,500

        100

Sponge prices remain subdued over weak demand in finished steel. Market sources say, prices may fall in coming weeks

Raipur

 21,400

   1,150

Sponge prices move up in a week’s time as some Sponge units went for maintenance

Raigarh

         20,300

  600

Sponge prices fluctuating by INR 100-200/MT in domestic market. Domestic users have option of importing it from Odisha.

Bellary

         19,400

     100

Bellary Sponge prices should remain stable on high Iron ore prices in Karnataka’s E-auction