Sponge & billet manufacturers in domestic market raised offers today by INR 100-500/MT. Improved demand and increasing raw material prices are the major factors behind continuous price rise of semi finished products.
Current offers for size 100*100 mm billet are at INR 20,200-23,700/MT and sponge (C-DRI) 78-80 FeM are howering at INR 12,300-14,500/MT ex-works.
NINL also opened billet price circular today. The prices hiked by INR 1,200-1,500/MT. The plants offers for size 100*100 mm billet are in the range of INR 20,400-21,000/MT and 150*150 mm at INR 21,600-21,800/MT. However, the last offers were at NR 19,000-19,700/MT for 150*150 mm and INR 20,500/MT for 100*100 mm.
Trade Updates
1. Shyam Sel in Durgapur is offering C-DRI at INR 13,300/MT & PDRI at INR 12,500/MT; offers up by INR 200/MT.
2. Jharsugda based Aryan Ispat is offering 79-80 FeM C-DRI at INR 12,800/MT. According to the officials, bulk deals have been concluded at the price of INR 12,600/MT on Saturday; Jindal Steel was the large purchaser.
3. Bhushan Power & Steel is trading 78-79 FeM P-DRI at INR 11,700-11,800/MT ex-Jharsugda. The plants last trade heard at INR 11,500-11,600/MT.
4. Sunvik Steels in Karnataka raise offers by INR 500/MT to INR 14,100/MT for 80 FeM C-DRI lumps & INR 14,500/MT for 82 FeM (ex-plant).
5. BMM Ispat, a large sponge manufacturer from Karnataka, increased prices by INR 500/MT; offering 80 FeM P-DRI at INR 13,500-600/MT ex-plant.
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