Sponge Iron prices that
corrected by Rs 200-300/MT in last trade slip further by Rs 300/MT. However, ingot manufacturers are still reluctant to buy material as ingot has come down by
Rs 500-600/MT in the last couple of days.
“Shortage of iron ore and poor quality of coal will keep sponge iron prices higher in near term,” said a Raipur based sponge iron manufacturer on tuesday.
“Coal prices were down in SECL auction as the quality of coal is degrading
in mines due to which our coal cost has increased by Rs 300/MT,” he added.
Raipur sponge iron (100%
lumps) of 300 kiln is being quoted at Rs 23,700/MT (Basic price, payment next day) where sponge iron (Fines) trades at Rs 23,300/MT (Basic price, payment next day). Sponge iron pellets prices in Raipur is being offered at Rs 23,200/MT (Basic price, payment next day), down by Rs 300/MT as
buyers negotiate.
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