Prices of sponge iron in the Indian markets showed a volatile trend in the week ending March 12, taking a cue from the sudden jump in scrap prices in the international markets, sources said.
Prices moved up by Rs 50-400 per ton in various markets, including Jaipur and Raipur.
However, prices were down by Rs 100 per ton in Mandi Govindgarh, Rs 600 per ton in Durgapur and Rs 350 per ton in Rourkela.
“The markets were moving in line with the uncertainty in the scrap market which has a relation with the sponge market,” sources said.
Prices of sponge iron in various markets during the past six months (Rs/ton)
NAME OF THE MARKET |
Price Rs./Ton as on |
Price Rs./Ton as on |
Price Rs./Ton as on |
Price Rs./Ton as on |
Price Rs./Ton as on |
12-Mar-16 |
11-Mar-16 |
5-Mar-16 |
11-Feb-16 |
14-Sep-15 |
|
MANDI GOVINDGARH |
16,300 |
16,300 |
16,400 |
- |
18,500 |
DURGAPUR |
12,700 |
13,100 |
13,300 |
14,000 |
15,300 |
JAIPUR |
15,800 |
15,800 |
15,400 |
16,100 |
- |
RAIGARH |
12,550 |
12,700 |
12,550 |
13,000 |
15,000 |
RAIPUR |
13,450 |
13,700 |
13,400 |
13,900 |
16,200 |
ROURKELA |
11,650 |
11,750 |
12,000 |
12,500 |
14,400 |
Source: Compilation from various sources & ISMW data