Indian Sponge Iron prices hold firm on Thursday despite limited buying activities in the market. Trading volumes have not been very high as buyers prefer to take limited position in highly volatile market.
Sponge Iron price at Raipur is stable at Rs 22,400-500/MT (Basic price). Whereas, it is being offered in the range of Rs 21,900-22,100/tMT (Basic price) at Raigarh.
Market sources also report about Pellet Sponge Iron offered by MSP that has come down to Rs 20,50/MT (Ex-Raigarh).
With limited availability of scrap and low production of Sponge Iron, manufacturers prefer to keep offers unchanged.
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