Indian sponge prices hold firm on lesser imports of scrap 

1.Sponge prices in India hold firm on lesser imports of scrap as Rupee falls to all time low of 56.12 against dollar.

2.Rupee fall has led to lesser imports, impact will be seen after 15-20 days, when imported scrap will exhaust in Indian market.

3.Manufacturers raise offers by RS 200-300/MT. Sponge iron prices will remain strong say industry experts. 

4.Scrap prices in domestic market move up by Rs 300-500/MT; demand improves from Punjab and UP.

5.Sponge prices at mandis' in South are likely to go up on limited supply and improved demand. Bellary trades at Rs 20,500 (Basic) for Pellet Sponge.

7.Imported offers from US, UK falls by $10-12 on low demand from South Asian Countries. HMS 80:20 being quoted at around $440/MT CFR Mumbai.