Sponge Iron prices have corrected by over Rs 1,000/MT in last few days due to falling steel prices and production cut by manufacturers based in Raipur.
” Sponge iron prices have corrected beyond expectations. It should not fall sharply from the current levels until any bad news hits the market sentiments. Scarcity of iron ore and rising coal prices should lend support to sponge iron prices at the current level”, said a sponge iron trader based in Raipur.
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