Sponge prices in Indian market remained almost at same levels despite NMDC ,India's largest iron ore producer raised prices up to Rs 600/t.
“Offers stand at same levels from sponge manufacturers as they have option of buying cheaper iron ore from Odisha. This move from NMDC was very unexpected and we do not see many plants would be interested in buying iron ore from them.” said a sponge manufacturer based in Raipur (Chattisgarh).
Higher power cost and low demand can not absorb this hike, he further added.
Leave a Reply