Few large buyers (Ingot & billet manufacturers) from central, west and north-east regions reported that they are buying sponge majorly from Odisha due to competitive offers provided by them.
Odisha (Rourkela) based manufacturers are offering 80 FeM C-DRI lump at INR 10,300/MT ex-plant through CST billing. However, the same grade material is being traded at INR 11,500/MT (ex-plant) in Raipur, INR 11,300/MT in Durgapur (West Bengal) and INR 11,100-11,200/MT in Bellary (Karnataka).
Other major highlights
1. Sources reported that few Raigarh based large manufacturers namely MSP Steel and Monnet Ispat concluded few deals for P-DRI in the range of INR 9700-10,000/MT ex-plant during last week.
2. Maharashtra (Jalna and Mumbai) based smelters mentioned that they are receiving a lot of inquiries for purchase of C-DRI from Karnataka in the range of INR 11,000-11,200/MT (ex-plant; 80 FeM lump).
3. Jharkhand Ispat from Ramgarh (Jharkhand) offered 79-80 FeM C-DRI at INR 11,100-11,200/MT ex-plant; reported poor response at these levels.
4. BMM Ispat is continuously declining offers; trading 80 FeM P-DRI at INR 10,700-800/MT ex-plant (Karnataka).
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