Rising costs forcing many small sponge iron units to sell out

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  • Published On: June 17, 2011
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Small scale steel and sponge iron units are finding it difficult to survive. As input costs skyrocket, capital becomes expensive and margins get squeezed, many are reeling under piles of debt looking to sell out. The recent example of this was the sick Nova Iron selling an additional stake to Bhushan Steel and Power.

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