Indian sponge iron prices remained under pressure owing to production cut by induction furnaces in major markets. Furnaces have cut down their production on low demand and power cuts. Current C-DRI prices are assessed at INR 16,500/MT (Ex-Raipur, 80 FeM), INR 16,000/MT (Ex- Durgapur, 78 FeM) and INR 15,000/MT (Ex-Bellary, 78 FeM).
Key Highlights
1. Few Pellet sponge deals from Raipur to Punjab concluded at INR 14,500-14,600/MT ex-works
2. Power shortage problem in Raipur may resolve till last week of this month – Sources
3. Odisha based miners are likely to reduce Iron ore prices- Reports
4. Pellet prices in Odisha & Karnataka down INR 200/MT W-o-W
5. Pig iron prices are declining continuously across India; corrected by INR 800/MT and INR 1,200/MT in central and eastern India respectively in a month
Semi Finish Prices as on 15 June’15
| Particular | C-DRI (FeM) | W-o-W | M-o-M | P-DRI | W-o-W | M-o-M |
| Raipur | 16,500 (80) | – 300 | – 400 | 14,550 (80) | – 50 | – 350 |
| Durgapur | 16,050 (78) | – 200 | – 350 | 14,100 (78) | – 200 | – 1,200 |
| Rourkela | 15,000 (78) | 0 | – 250 | 13,800 (78) | – 100 | – 600 |
| Hyderabad | 16,900 (84) | – 100 | – 900 | 14,600 (77) | – 100 | – 900 |
| Bellary | 15,000 (78) | – 400 | – 600 | 14,000 (78) | 0 | – 300 |
Basic prices in INR/MT; ex-works
# Delivered price
Source: SteelMint Research
Leave a Reply