During last 2-3 days, there is no fluctuation in sponge market. Sponge manufacturers’ offers have remained intact and demand is also heard to be average.
As on 18 Dec’15, 78-80 FeM C-DRI is being traded at INR 12,400/MT ex-Durgapur, INR 11,500/MT ex-Rourkela, INR 12,650/MT ex-Raipur and INR 12,200/MT ex-Bellary. Meanwhile, 78-82 FeM P-DRI prices are hovering at the same level of INR 10,800-12,800/MT as a week ago.
Current C-DRI and P-DRI prices with D-o-D and Premium
| Particular | Size (FeM) | C-DRI Prices | D-o-D | P-DRI Prices | D-o-D | Premium |
| Ex-Mandi Gobindgarh | 78 +/-1 | 15,400 | 0 | 14,300 | 0 | 1,100 |
| Ex-Durgapur | 78 | 12,400 | + 50 | 11,400 | + 50 | 1,000 |
| Ex-Rourkela | 78 | 11,500 | + 100 | 10,800 | 0 | 700 |
| Ex-Raigarh | 80 +/-1 | 12,100 | 0 | 11,000 | 0 | 1,100 |
| Ex-Raipur | 80 +/-1 | 12,650 | 0 | 11,600 | 0 | 1,050 |
| Ex-Bellary | 78 +/-1 | 12,200 | 0 | 11,300 | 0 | 900 |
Prices in INR/MT
Source: SteelMint Research
Trade-wise
1. A manufacturer in Raipur sold DR CLO fines (80 FeM) on guarantee at INR 13,000/MT, advance payment . In general, manufacturers use DR CLO (NMDC Iron ore) of grade 82 FeM, but now they are taking minimum guarantee on 80 FeM grade.
2. An Odisha based manufacturer sold 80 FeM C-DRI lump at INR 12,800/MT, FoR Raipur.
3. A P-DRI maker in Raipur sold 80 FeM lump at INR 11,700/MT, advance payment.
4. Bellary sponge based market remained stable due to low billet demand. Here, 80 FeM P-DRI offers are assessed at INR 11,800/MT.
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