MS Ingot prices in Mandi Gobindgarh have increased by INR 300/MT on yesterday (29 Apr, 2014) trade. Similarly, prices in Central & Eastern region have moved up by INR 100-300/MT in Raipur, Rourkela & Durgapur on moderate buying volume.
SteelMint learned, prices are soaring up regularly by INR 200-400/MT owing to feasibility of material supplied from Durgapur, Rourkela & Raigarh to the region. Durgapur has supplied MS Billet at INR 34,500-34,700/MT, Rourkela offered at INR 34,800-35,000/MT and Raigarh at INR 35,100/MT delivered Mandi Gobindgarh. It’s also been heard that Durgapur is supplying material to Mandi at good quantity.
Similarly, Raipur & Rourkela are selling Sponge iron to Maharashtra continuously as manufacturers of semi finish & finished steel prefer to consume Sponge over Scrap as its shortage and high price remain concern. Imported Scrap offer from Dubai increased by USD 15-20/MT (INR 900-1,200/MT) CFR Mumbai.
Sponge Offer for Other Location
- Raipur’s Sponge (Lumps; 79-80 FeM) is being offered at INR 24,400/MT FOR Jalna
- Rourkela’s Sponge (Lumps; 78 FeM) offered at INR 23,500/M FOR Jalna
- Bellary’s Sponge Pellet (77 FeM) is being offered at INR 21,800/MT FOR Wada(Mumbai)
- Bellary’s Sponge Pellet (77 FeM) offered at INR 21,500/MT FOR Jalna
[su_quote]Manufacturers commented, “Demand in local market remains volatile that divert the material to other states. Low cost of electricity, availability of Sponge iron & easy transportation increases the competency of Central & Eastern India to supply material at discount of INR 500-800/MT to other states.[/su_quote]
Note: Prices are inclusive of freight & CST; advance payment/next day payment.
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