Indian sponge price breaches 3-months high; expected to go up further

Sponge prices across India are rising high to breach three months high. Prices have gone up Rs 500-700 per tonne in a weeks time.

” There is acute shortage of sponge iron in the market due to unavailability of iron ore  and crisis is expected to deepen further in the short term.  Most of the plants are non operational which has created a short supply.” said an integrated manufacturer based in Durgapur.

Current sponge prices:

Raipur-23200-300++

Raigarh-22800++

Durgapur-24500*

Rourkela-21800++

Bellary-20800-21000++

* Prices incld taxes

++ Basic prices (ED + Taxes ext)