Sponge prices at pan India have risen by INR 300-700/MT. South Indian market has witnessed a major price hike of INR 700-750/MT because of limited sellers in local market and improved demand for billet from Pune (Maharashtra) and Hindupur (Andhra Pradesh).
However, Rourkela based sponge market is quiet stable due to price corrections in Mandi Gobindgarh (Punjab).
Current 78-80 FeM C-DRI price movements in major markets are; Durgapur at INR 12,250/MT, Rourkela at INR 11,300/MT, Raipur at INR 12,700/MT and Bellary at INR 12,300/MT. Meanwhile, 78-82 FeM P-DRI prices are hovering within INR 10,800-12,800/MT across major markets.
Besides, a large sponge manufacturer from Karnataka, BMM Ispat has increased prices by INR 400/MT and offering 80 FeM P-DRI at INR 11,800/MT, ex-plant.
This week, iron ore and pellet prices have remained stable with minor correction of INR 100/MT in western Indian pellet market.
Current C-DRI and P-DRI prices with Premium
| Particular | Grade (FeM) | C-DRI | W-o-W | P-DRI | W-o-W | Current Premium |
| Ex-Duragpur | 78 | 12,250 | +250 | 11,250 | +250 | 1,000 |
| Ex-Rourkela | 78 | 11,300 | +300 | 10,800 | NA | 500 |
| Ex-Raipur | 80 | 12,700 | +200 | 11,600 | +350 | 1,100 |
| Ex-Bellary | 78 | 12,300 | +700 | 11,400 | +300 | 900 |
Prices in INR/MT
Source: SteelMint Research
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