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2010-1-5 Indian local sponge iron prices may soon hit $430 Indian domestic sponge iron price may hit Rs 20,000 ($430) per tonne soon despite a dip in prices this week, said market participants. Prices fell Rs 1,000 to Rs 17,000-17,500 per tonne ex-plant on lower raw material costs and a dip in buying over the festive weekend.
3) Note that latest price points (the last one or two months in particular) may change, as additional customs data becomes available. Further information Direct reduced iron (DRI), also called sponge iron, is produced from the direct reduction of iron ore (in the form of lumps, pellets, or fines) to iron by a reducing gas or carbon produced
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Prices for iron ore cargoes with a 63.5% iron content for delivery into Tianjin bounced back above $192 a tonne from an over 1-month low of $183 hit on May 26th boosted by China's revved-up campaign to limit steel output to reduce carbon emissions. Iron ore prices rallied to a record high of $229 on May 13th buoyed by strong demand from the steel industry and have since fallen in the aftermath
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