Today, domestic sponge iron prices have corrected marginally by INR 100-200/MT, but trade remains thin in major markets like Raipur and Durgapur. Few small manufacturers are heard to sold sponge iron with a discount of INR 300-400/MT due to high inventory.
Current 78-80 FeM C-DRI offers are prevailing in the range of INR 11,250-12,700/MT and P-DRI within INR 10,900-11,700/MT.
Meanwhile, iron ore miners have kept their offers unchanged. However, global iron ore prices have been increasing since last 2-3 days amid stocking of material and assessed at USD 42.1/MT CFR China on 19 Jan’16.
C-DRI and P-DRI prices as on 21 Jan’16
| Particular | Grade (FeM) | C-DRI | D-o-D | P-DRI | D-o-D |
| Ex-Mandi Gobindgarh | 78 +/-1 | 15,100 | 0 | 14,200 | 0 |
| Ex-Durgapur | 78 | 12,250 | 0 | 11,250 | -50 |
| Ex-Rourkela | 78 | 11,250 | -50 | 11,000 | 0 |
| Ex-Raigarh | 80 +/-1 | 11,900 | 0 | 10,900 | 0 |
| Ex-Raipur | 80 +/-1 | 12,600 | -200 | 11,700 | -150 |
| Ex-Bellary | 78 +/-1 | 11,700 | -300 | 11,100 | 0 |
Prices in INR/MT
Source: SteelMint Research
Trade-wise
1. A Raipur based P-DRI manufacturer sold 80 FeM at INR 11,700/MT and 78 FeM grade material at INR 11,300-11,400/MT.
2. 80 FeM C-DRI in Raipur was sold lowest at INR 12,000-12,200/MT by few 100 TPD sponge manufacturer. While, major offers remained at INR 12,400-12,600/MT.
3. 80 FeM DR CLO guarantee of 0-20 mm size was sold at INR 12,800/MT. While, major offers for mix material remained at INR 13,200-13,400/MT.
4. BMM Ispat offered 80 FeM P-DRI at INR 11,400/MT ex-plant (Karnataka).
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