Indian sponge iron
prices have gained about Rs. 1,000-1,200/t in last one month on account of
higher steel prices by the primary producers like JSW , SAIL, Jindal and TATA,
expensive iron ore, the rising scrap prices in the International market
and weakening rupee against dollar.
“Earlier I had an
impression that prices might not rise up, but due to the increase in coal, iron
ore and freight charges, sponge iron prices are expected to remain firm. Till
the month of June, prices will remain same with whatsoever changes take place,
but only after monsoon we can anticipate further changes in prices of sponge
iron. The change in prices, if so happens, will be not more than Rs.
500-1000/t. We are waiting for the Union budget also to give direction to
market,” said an official from Tata Sponge.
Tata Sponge has quoted
its Sponge Iron price at Rs 24,000/t (Ex-works) whereas Raipur Sponge iron
prices is trading at Rs. 25,000/t (Basic Price). Sponge Iron Raigarh is quoted at
Rs. 24,000/t (Ex-Works) and that of Rourkela is trading at Rs. 23,500 (Basic Price).
Leave a Reply