MS Ingot at Mandi Gobindgarh has gained about Rs 2000/MT in past few days over shortage of scrap and rising sponge iron prices.
” Availability of Scrap is a serious problem, as imports have been low this month and domestic availability is limited. Induction manufactures are shifting to sponge iron from Central India.” said Mr Deepak Agrawal a scrap trader based at Ludhiana, Punjab.
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