Sponge iron offered across India has been stable from last few days on improved demand and rising scrap prices, said market traders and brokers.
“Sponge iron prices hovered at around Rs 21,000-22,500/MT (basic price) and expected to remain stable in short to medium term”, said a sponge broker based at Raipur.
Falling rupee has made imported scrap expensive by around Rs 700-800/MT as compared to last week, he added.
Sponge Iron Prices
Raipur = Rs 22, 400/MT + Excise + Tax
Raigarh = Rs 21, 800/MT + Excise + Tax
Rourkela = Rs 21, 000/MT + Excise + Tax
Hyderabad = Rs 20, 500/MT + Excise + Tax
Bellary = Rs 20, 100/MT + Excise + Tax
Durgapur = Rs 25, 000/MT (Incld all)
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