Sponge iron prices were up by Rs 600 to Rs 2,500 per ton in six major markets for which data were immediately available. There was no decline in prices reported from any of these markets during the week under review.
The highest gainer was Durgapur where prices soared by Rs 2,500 per ton during the week. This was followed by Raipur (up by Rs 1,900), Jaipur (Rs 1,800) and Rourkela (Rs 1,550). In Mandi Govindgarh, prices increased by Rs 600 per ton.
The market finds this weekly gain as a welcome break from the monotonous declining trend being witnessed for quite some time now.
Earlier, during the preceding week ended January 30, prices declined in various markets by Rs 500 to Rs 1,000 per ton. Raipur and Jaipur markets were worst sufferer of the declining trend.
Following table gives indicative prices of sponge iron in various markets during the past one year:
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 |
6-Feb-16 |
30-Jan-16 |
7-Jan-16 |
12-Jul-15 |
7-Feb-15 |
|
MANDI GOVINDGARH |
15,200 |
14,600 |
16,000 |
- |
- |
DURGAPUR |
13,500 |
11,000 |
12,800 |
15,800 |
18,000 |
JAIPUR |
15,800 |
14,000 |
15,500 |
- |
- |
RAIGARH |
12,200 |
11,000 |
12,400 |
15,500 |
18,300 |
RAIPUR |
13,500 |
11,600 |
14,000 |
16,400 |
18,400 |
ROURKELA |
11,800 |
10,250 |
12,200 |
14,500 |
17,000 |
Source: Traders