Tag: Sponge Prices

Domestic sponge market has improved steeply as prices jumped upto INR 1,300/MT, trading at 1-month high. INR depreciating 66 per USD, which kept scrap importers away from market, and expected imposition of safeguard duty have acted as catalysts strengthening sponge prices in market. Sharp hike in prices has given an opportunity to manufacturers for bulk…