Sponge iron prices in Raipur, India’s one of the largest Sponge iron market, has seen a downfall of INR 100-300/MT. Prices, which were unchanged for quite some time owing to scarcity of Iron ore, have corrected on the ground of weak demand.
At present state of affairs, Sponge iron (50% Fines; 50% Lump) is hovering in the range of INR 21,600-21,700/MT and 100% Lump is being offered at INR 21,800-22,000/MT. Meanwhile, DR CLO Sponge is at INR 22,300/MT and 100% Fines is offered in the range of INR 21,000-21,100/MT. Pellet sponge is now at INR 20,000/MT (all prices on ex-works basis).
Market participants mentioned that despite tight supply of Iron ore, prices have corrected owing to production cut by Ingot & Billet manufacturers.
Prices in other parts of the country have also noticed some correction.
Current Offers for Sponge Iron on Ex-Works Basis
|
Region |
City |
Grade (FeM) |
Price (Basic) |
W-o-W |
|
North India |
Mandi Gobindgarh |
78-80 |
24,200 |
– 400 |
|
East India |
Rourkela |
78-80 |
20,600 |
– 300 |
|
Durgapur |
78-80 |
21,000 |
– 400 |
|
|
|
Raigarh |
79-80 |
21,600 |
– 900 |
|
South India |
Bellary |
75 |
19,600 |
+ 400 |
Basic prices in INR/MT; Payment next day/advance
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