Today, domestic sponge makers have opened their offers with minute price rise of INR 100/MT D-o-D in few major markets. However, south market has remained stable from the last day closing.
At present circumstances, 78-80 FeM C-DRI prices are seem to be evaluated in the range of INR 11,300-13,500/MT and the same grade P-DRI within INR 11,200-12,800/MT.
A central India (Raigarh) based sponge manufacturer reported, “Sponge demand has improved in Punjipatra area as JSPL is to start power supply from midnight today to all closed units in the area.”
South India sources reported that 80 FeM P-DRI (pellet sponge) in Hyderabad is available in the range of INR 12,800-13,000/MT on regular payment basis. In general, C-DRI is costlier than P-DRI by INR 600-800/MT in the state.
78-80 FeM C-DRI and P-DRI prices as on 14 Apr’16
| Particular | C-DRI | D-o-D | P-DRI | D-o-D | Premium | 1 week earlier premium |
| Ex-Durgapur | 12,200 | + 100 | 11,200 | + 100 | 1,000 | 1,000 |
| Ex-Rourkela | 11,300 | + 100 | NA | NA | NA | NA |
| Ex-Raipur | 13,050 | + 100 | 11,800 | + 150 | 1,250 | 1,300 |
| Ex-Bellary | 12,000 | 0 | 11,700 | 0 | 300 | 650 |
| Ex-Hyderabad | 13,500 | 0 | 12,800 | 0 | 700 | 700 |
Prices in INR/MT
Source: SteelMint Research
Key trade dynamics
1. BMM Ispat, a large manufacturer located in Karnataka, has offered 80 FeM P-DRI at INR 12,100/MT.
2. Karnataka based Bhadrashree Steel & Power has offered 80 FeM C-DRI lump at INR 12,600/MT and 80 FeM P-DRI at INR 12,100/MT ex-plant.
3. Odisha based Mahakali Ispat’s 80 FeM C-DRI offers are assessed at INR 11,500/MT (VAT) and at INR 11,700/MT (CST) ex-plant (Bonai).
4. Prakash Sponge, having a coal based sponge iron unit with 200 TPD capacity at Heggere village in Chitradurga district (Bangalore) concluded a deal of 1,500 MT from Hosur and Mysore area and sold 78 FeM C-DRI at INR 11,800/MT and offered 75 FeM fines at INR 10,600/MT.
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