Sponge prices in Indian market recorded an all time low since the year of 2010. Increased availability of iron ore and sluggish market trend across the globe are the major reasons behind price corrections in domestic market.
78-80 FeM C-DRI offers were lowest recorded in the end of Jan’16 at INR 11,500/MT ex-Raipur, INR 11,000/MT ex-Durgapur, INR 10,300/MT ex-Rourkela and INR 11,000/MT ex-Bellary. While, highest prices were touched in last week of May’12 at INR 23,400/MT ex-Raipur, INR 27,400/MT ex-Durgapur and INR 21,700/MT ex-Rourkela.
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