Domestic sponge manufacturers have increased prices today by INR 50-200/MT against the previous day closing. Major price rise have been reported in Durgapur & Hyderabad by INR 200/MT.
Currently,78-80 Fem sponge iron (C-DRI) prices are hovering in the range of INR 10,400-12,650/MT and P-DRI prices at INR 10,400-12,400/MT, with weekly price correction of INR 100-300/MT in central & east India.
Rourkela based sponge makers are offering 80 FeM C-DRI lump to north & west India based buyers at INR 10,600-10,800/MT; a large sponge manufactuer has sold material in bulk to out of state buyer at INR 10,300/MT.
Hyderabad based Sponge market has registered an improvement of INR 200/MT against last day trade.Today, 80 FeM C-DRI & P-DRI sold at INR 12,600-12,700/MT & 12,400/MT. While, billet prices remain unchanged at INR 22,500/MT.
Bellary based manufacturers reported that Iron ore offers remain unchanged in karnataka e-auction which prevails stability in the market .Offers for 80 FeM P-DRI lump are assessed at INR 11,400-11,500/MT and C-DRI at INR 11,800-11,900/MT ex-plant.
Premium between sponge iron (C-DRI) and pellet sponge (P-DRI) in central India has decreased to INR 1,250/MT, which was INR 1,300/MT last week. In eastern region, it firm to INR 1,000/MT and in south INR 250-400/MT.
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