Today, sponge offers in domestic market remain firm with a minor price fluctuation of INR 50-100/MT.
Currently, 78-80 FeM C-DRI offers are hovering in the range of INR 10,300-12,650/MT and P-DRI within INR 10,400-12,350/MT.
Rourkela & Durgapur based manufacturers reported that they will prefer to hold stock than to sell the material at par value. Currently, Rourkela based manufacturers are offering 80 FeM C-DRI (70:30) at INR 10,200-10,300/MT for local buyers and INR 10,500-10,700/MT through CST billing. However, the same grade material is being traded at INR 12,100-12,200/MT ex-Raipur and INR 11,400/MT (78 FeM) ex-Durgapur .
Sponge offers in Raipur have also remained firm for 80 FeM P-DRI at INR 10,800-10,900/MT, C-DRI at INR 12,100-12,200/MT and DR-CLO at INR 12,800-12,900/MT.
On the flip side, sponge offers in south market have slumped by INR 50-100/MT against the last day trade.
A Bellary based sponge maker quoted, “Demand for sponge iron is low from the last couple of weeks. Moreover, trade movements are also weak”.
Manufacturers have sold material (80 FeM C-DRI) post price cut of INR 200/MT at INR 11,700-11,800/MT. However in Hyderabad, the same grade material is being traded at INR 12,600/MT ex-plant.
Premium remains firm between C-DRI and P-DRI in central, east and south regions at INR 1,250/MT, INR 1,000/MT and INR 300/MT respectively.
Leave a Reply