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Central India: sponge iron price dips on less steel output

The majority of hot rolling mills in Raipur have confirmed SteelMint that they have curtailed output by over 30% in the last 15 days. These mills contribute 20-30% of finished steel production of the secondary mills in Raipur.
Hence, with a fall in finished steel & billet output, sponge iron demand weakened considerably as no bulk bookings have been reported by the mid-sized sponge plants. This led to drop in sponge iron prices by INR 1,000/t ($14), w-o-w in Raipur. On average, the hot rolling mills or standalone furnaces

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