Saturday, May 28
Sponge iron prices across India went up by RS 200-300/mt on Saturday after Deputy Director of mines Joda (Orissa) suspended 107 trading licences.
These licences have been suspended over irregularities in return submitted on monthly basis by traders and sponge manufacturing plants.
Mining authorities in Joda sector have stopped issuing permits till matter is cleared with Indian Bureau of Mines.
This will restrict supply of Iron ore from orissa sector and sponge prices are likely to go up further said sources.
Leave a Reply