Burdened with dull demand and weak steel prices, sponge iron makers have requested for a supply policy of iron ore on cost plus profit basis.
Going forward with this, a joint delegation comprising of sponge iron manufacturers from states namely Karnataka, Andhra Pradesh and West Bengal led by Chhattisgarh Sponge Association met the steel minister yesterday (i.e. 25 Nov’15).
An official from Sponge Iron Manufacturers Association of India shared ” A joint delegation of sponge iron makers in Karnataka, Andhra Pradesh and West Bengal led by Chhattisgarh Sponge Association met him yesterday and has requested for a policy for iron ore on cost plus profit basis supply.”
Earlier in Aug’15, sponge iron makers from various major states of India had pitched for an urgent need to help increase iron ore supply at economical price.
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