Indian sponge iron prices remained unchanged after rising up to Rs 1,000/t the last week. Manufacturers see NMDC to raise January prices on improved demand and rising iron ore prices in global market.
“Last 3-months NMDC has cut its ore prices up to 15%.Since global iron ore prices are surging high, we are expecting that NMDC will also follow the trend. Current offers from NMDC are Rs 5,400/t (Base Price, 64% Fe) for iron ore lumps and Rs 2,600/t (Base price, 64% Fe).” said a purchase manager with big steel manufacturer based in Raipur (Chattisgarh).
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