Indian Sponge prices have remained firm with marginal corrections. Whereas, offers in south market increased upto INR 150/MT D-o-D.
Today, domestic sponge manufacturers have opened their prices with a little change of INR 50-150/MT against the previous day closing. However, minor positive change is witnessed in south market.
Few manufacturers based in south reported recently, around 5 units have switched operations, which in turn has created shortage and prices improved slightly by INR 100-200/MT in today’s trade.
Currently, sponge iron (C-DRI) prices are hovering in the range of INR 10,500-12,600/MT and P-DRI prices within INR 10,400-12,200/MT.
Domestic sponge offers as on 23 Jun’16
| Particulars | C-DRI | D-o-D | P-DRI | D-o-D | Current Premium | 1 Week earlier Premium |
| Ex-Durgapur | 11,450 | 0 | 10,400 | 0 | 1,050 | 1,000 |
| Ex-Rourkela | 10,500 | 0 | 0 | 0 | 0 | 0 |
| Ex-Raipur | 11,900 | – 100 | 10,750 | – 50 | 1,150 | 1,100 |
| Ex-Bellary | 11,500 | + 50 | 11,100 | + 150 | 400 | 400 |
| Ex-Hyderabad | 12,600 | 0 | 12,200 | 0 | 400 | 400 |
Prices in INR/MT
Source: SteelMint Research
Trade log
1. An official of integrated plant based in Raipur reported, around 500 MT P-DRI was sold at INR 10,800/MT. While, few small units are offering the same material in the range of INR 10,700-10,800/MT. Trade sources also mentioned that C-DRI in Odisha is available at INR 11,500-11,700/MT, landed to Raipur.
2. Durgapur based manufacturers have kept offers unchanged in the 4th day of current week and offering P-DRI at INR 10,400-10,500/MT and C-DRI at INR 11,500/MT.
3. Bhaskar Steel and Ferro Alloy, a sponge supplier from Odisha, is offering 80+ FeM C-DRI lump at INR 10,700/MT. While, Mahakali Ispat (150 TPD) is offering same grade material at INR 10,800/MT ex-plant.
4. Reactive Metals has kept offers unchanged for 80 FeM P-DRI lump at INR 12,200/MT ex-plant (Hyderabad). An another sponge manufacturer located in Hyderabad namely Shiv Shakti Steel is offering the same grade C-DRI lump at INR 12,600/MT ex-plant.
5. A prime grade sponge manufacturer, Sunvik Steels in Karnakata is offering 80 FeM C-DRI at INR 12,000/MT ex-plant.
6. BMM Ispat, a large sponge manufacturer in Karnataka, has increased prices by INR 200/MT; offering 80 FeM P-DRI at INR 11,400-500/MT ex-plant.
7. A Karnataka based manufacturer, Prakash Sponge is mostly selling material (80 FeM C-DRI) to Silvasa and Hindupur at INR 11,700-11,800/MT ex-works. Freight charges via road to Silvasa is assessed at INR 1,300/MT and Hindupur at INR 600-700/MT. C-DRI fines is being offered by plant at INR 9,600/MT (75 FeM).
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