In current week, sponge iron prices in domestic market remained firm with minor fluctuation across major markets. A major price correction of INR 750/MT is seen in Rourkela based sponge market owing to declining iron ore prices and local transport freight. While, prices in Durgapur rose by INR 300/MT in a week.
South and central India based sponge makers have maintained prices at the same level as a week ago.
Meanwhile, pellet sponge makers have remained under pressure as prices have corrected by INR 200-400/MT in domestic market.
Current C-DRI price movements in Duragpur at INR 14,000/MT (78 FeM;+300), Rourkela at INR 12,750/MT (78 FeM; -750), Raipur at INR 14,400/MT (80 FeM; -200), Bellary at INR 13,500/MT (78 FeM; 0) and Hyderabad at INR 15,500/MT (82+ FeM; 0).
Sponge prices with premium
| Particulars | Grade (FeM) | C-DRI Price | P-DRI Price | Current Premium (C-DRI – P-DRI) | 1W Premium |
| Mandi Gobindgarh | 78 | 17,000 | 15,500 | 1,500 | 1,400 |
| Durgapur | 78 | 14,000 | 12,800 | 1,200 | 1,200 |
| Raipur | 80 | 14,400 | 12,850 | 1,550 | 1,550 |
| Bellary | 78 | 13,500 | 12,300 | 1,200 | 900 |
| Hyderabad | 82 C-DRI; 77 P-DRI | 15,500 | 13,800 | 1,700 | 1,500 |
Basic prices in INR/MT; ex-works
Source: SteelMint Research
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