Sponge prices up by Rs 500/t on shortgae of pellets as two major pellet plants are under maintenance, reported local sponge manufacturers based in Koppal and Bellary.
Sponge made from Pellet is quoted at Rs 21,500 (Basic), where as sponge made from Iron is offered at Rs 22,000 (Basic).
Sponge prices in other parts of India remain unchanged with buying sentiments weak. Though high input cost will support prices according to market participants.
Raipur remains at Rs 23,200-300 (Basic), Raigarh at Rs 22,500 (Basic), Rourkela at Rs 21,700-800/t (Basic) and Girdih (Jharkhand) at Rs 26,000 (Inc All).
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