Coal news and updates

Sponge iron prices edge up on higher procurement

Sponge iron offers firmed up marginally on increased procurement by end-users, as per information available with ISMW.
 

Slow trading activity during Christmas impacted prices, sources said.  

Current offers for sponge iron were quoted in a range of Rs 12,600 – 16,700 per ton. 

Prices in Mandi Govingarh stood at Rs 16,700 per ton and in Durgapur at Rs 13,500 per ton.

According to sources, the annual capacity of the sponge iron industry at present is 50 million tons but it is currently operating at only 30% of its total capacity, producing a mere 17-20 million tons due to lack of demand. 

In April-November, 2015-16, sponge iron production fell 11.6% to 12.25 mt, down from 13.86 mt in the same period last year. 

Following are sponge iron offers in the domestic markets:
 

Source: Traders