Sponge iron manufacturers raise offers anticipating higher prices

Sponge iron manufacturers raised their offers by Rs 200-300 per tonne across India due to rising short supply of of iron ore and ferrous scrap.

“There is decent demand of sponge iron across India. Big manufacturers are holding their stock anticipating rise in prices in the near term.” said a sponge iron broker based in Raipur.

Current sponge iron prices

Raipur: Rs 23500++

Raigarh: Rs 22700++

Rourkela: Rs 22000++

Hyderabad: Rs 21000++

Bellary: Rs 21500++

++ – Basic prices per tonne , Excise and Taxes extra