“Sponge prices likely to remain intact”- Monnet Ispat

Sponge prices are seen stabilizing in near term over various global and domestic factors.Sponge prices have gained about Rs 700-800 per tonne in last few days and likely to remain firm in near term says industry experts.

” We expect sponge iron prices to remain firm in short term as scrap imports have been less on depreciating rupee and rising prices in International market.” said a senior official at Monnet Ispat, one of the leading manufacturers of sponge iron.

Currently sponge iron prices at Raipur are hovering around Rs 23,000-23,200 per tonne, he further added.