Today, domestic sponge iron market has registered a marginal downfall of INR 100-200/MT against the last day closing. Prices seem to be still under pressure, following subdued demand coupled with increased number of sellers amid better availability of iron ore.
Besides, sources reported that persistent rise in imported scrap in north and east Indian markets is also pressurizing sponge offers.
C-DRI & P-DRI prices as on 17 Mar’16
| Particular | C-DRI | D-o-D | P-DRI | D-o-D | Current Premium | 1 Week Earlier Premium |
| Ex-Durgapur | 11,900 | + 50 | 10,900 | 0 | 1,000 | 1,000 |
| Ex-Rourkela | 11,050 | – 100 | NA | NA | NA | Na |
| Ex-Raipur | 12,950 | + 50 | 11,750 | – 200 | 1,200 | 1,150 |
| Ex-Bellary | 12,800 | – 150 | 12,250 | – 50 | 550 | 600 |
| Ex-Hyderabad | 14,000 | 0 | 13,600 | 0 | 400 | 500 |
Prices in INR/MT
Source: SteelMint Research
Trade dyanamics
1. A Bhilai based sponge manufacturer heard to sell P-DRI at INR 11,500-11,600/MT; payment advance on 16 Mar’16.
2. A Raipur based iron pellet and P-DRI producer have sold P-DRI at INR 11,600/MT.
3. Prakash Sponge reduced offers by INR 200/MT and offering 78 FeM C-DRI lump at INR 12,800/MT ex-plant (Karnataka).
4. Jay Jaganath Steel & Power Limited (400 TPD) is offering 80 FeM C-DRI at INR 11,400/MT(VAT) ex-plant and INR 11,700 on CST billing (Odisha).
5. Shiv Shakti Steel is offering 80 FeM C-DRI lump at INR 14,000/MT ex-plant (Hyderabad).
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