Indian Sponge iron prices slightly raised by INR 100-200/MT. Manufacturers struggle to source Iron ore from merchant market.
Domestic Sponge iron prices have shown some strength and uptick by INR 100-200/MT. Trade participants have mentioned that despite falling Re-bar & Billet prices in the domestic market, Sponge manufacturers have managed to hold their offers at a constant level owing to short supply of Iron ore.
Sponge iron (C-DRI) at Raipur, India’s one of the largest merchant market of Sponge, is offered at INR 22,000/MT for 79-80 FeM mixed material (50 % Fines, 50% Lumps) on ex-plant basis.
Sponge pellet (P-DRI) prices remain stable at INR 20,300/MT for 80 FeM Lumps on ex-Raipur basis.
City-wise Sponge Iron Offers as on 11 Aug, 2014
|
Place |
Grade |
C-DRI |
P-DRI |
Remarks |
|
Rourkela |
78-80 |
19,600 |
– |
Sponge prices gain by INR 200/MT. Whereas, Ingot prices reduce by INR 600/MT W-o-W |
|
Jharsugda |
79-80 |
– |
19,200 |
– |
|
Raigarh |
79-80 |
21,300 |
19,700 |
Limited sellers of Sponge iron in the market |
|
Raipur |
80 |
22,000 |
20,300 |
Sponge iron (50% Fines, 50% Lumps) sold at INR 22,000/MT |
|
Durgapur |
78 |
21,200 |
19,300 |
Freight charges to Mandi reduced by INR 200/MT to INR 2,400/MT |
|
Bellary |
77-78 |
20,400 |
18,500 |
Freight charges from Bellary to Jalna by road at INR 1,400/MT |
|
Hyderabad |
77 |
– |
19,200 |
Sponge & Ingot offers are stable from last 3-4 days |
Basic prices in INR/MT for next day/advance payment
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