Indian Sponge iron prices moved up significantly over strong demand and restricted supply of ore from Odisha (due to elections). Sponge iron (DRI) prices have boosted to INR 800-1,000/MT in last one week at major markets like Durgapur, Rourkela & Raipur. However, prices have moved up by INR 400-500/MT in southern region.
Raipur: Offers at Raipur stands at INR 21,800-22,000/MT for C-DRI (Sponge iron) of grade FeM 80 and P-DRI (Pellet sponge) at INR 20,300/MT.
Durgapur: Prices have shot up significantly at Durgapur by INR 1,000/MT.
Bellary: Current offers for P-DRI (Pellet Sponge) of FeM 75% at INR 18,700 /MT and FeM 77% at INR 19,200-19,300/MT. Manufacturers are offering C-DRI (Sponge iron) of grade 75% FeM at INR 19,600/MT.
Market participants highlighted that Iron ore supply situation will continue to remain critical in Odisha till the completion of elections on 17 Apr, 2014. Recently, Pellet manufacturers have raised offers in Odisha by INR 300-400/MT.
Indian C-DRI (Sponge Iron) & P-DRI (Pellet Sponge) Prices as on 15 Apr, 2014
|
Region |
Particular |
Grade (FeM) |
C-DRI |
W-o-W |
P-DRI |
W-o-W |
|
North India |
Mandi Gobindgarh |
78-80 |
23,300 |
+ 600 |
– |
– |
|
East India |
Rourkela* |
78-80 |
19,800 |
+ 800 |
19,000 |
– |
|
Durgapur* |
78-80 |
21,400 |
+ 1,100 |
20,200 |
+ 1,100 |
|
|
Central India |
Raipur* |
80 |
21,900 |
+ 550 |
20,300 |
+ 100 |
|
Raigarh* |
79-80 |
21,100 |
+ 800 |
19,700 |
+ 800 |
|
|
South India |
Bellary |
75 |
19,600 |
+ 300 |
18,700 |
+ 400 |
|
Hyderabad |
77 |
– |
– |
20,000 |
+ 800 |
Basic Prices in INR/MT; ED @12.36%; VAT as applicable
*Payment advance
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