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Indian steel industry, despite all the cyclical movements, gives altered picture on band of 1 year.
Despite all the talks of depressed finished demand culminating in slow off take, input cost has eroded the bottom lines of re-rollers. Price of sponge iron has shown hike at all locations up to INR1000 per tonne.
Production shortage on issues related to iron ore production and freight hike have played stellar role in keeping the sponge iron prices buoyant.
Sponge Iron
| Location |
Change |
| Kolkata |
1000 |
| Raipur |
950 |
| Bellary |
700 |
| Raigarh |
800 |
| Rourkela |
700 |
Change is on 31st March 2014 as compared to 1st April 2013
Change in INR per tonne