Indian sponge prices which had been stable for last few weeks on low production and tight supply of iron ore has now shown some sign of correction.
“Demand has been extremely poor, we will be left with no other option but to sell at discounted price. We can not store it for a long time during monsoons.” said a sponge manufacturer based in Raigarh (Chattisgarh)
Current offers
Raipur= Rs 22800/t (Baisc, 80 FeM)
Raigarh= Rs 21700/t (Baisc, 80 FeM)
Rourkela= Rs 21300/t (Baisc, 78 FeM)
Bellary= Rs 19800/t (Baisc, 78 FeM, Pellet Sponge)
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