February 21, 2012: Indian sponge prices continue to trade high on better demand from ingot manufacturers, market sources told ISMW.

Manufacturers raised their offers by Rs 100-200/ton.

Lots of steel mills based in UP are buying sponge from Raigarh and Rourkela on low availability of scrap due to elections, sources said.

Current prices
Raipur - Rs 23,800/ton
Rourkela - Rs 22500/ton
Durgapur - Rs 23,500/ton
Source: ISMW