Sponge offers in Raipur & Durgapur have registered fall of INR 300/MT & Bellary by INR 100-200/MT D-o-D. However, no changes have been reported in Rourkela
Fall in billet offers amid weak demand led to decrease in Indian sponge prices.
Presently domestic offers for 78-80 FeM C-DRI are in the range of INR 14,100-16,300/MT (USD 207-240/MT) ex-works. However, Indian export offers are assessed at USD 240-245/MT FOB East Coast, for 80 FeM C-DRI lumps (bag packing).
Overview of key markets
Raipur based manufacturers have not got any major bookings for today’s offers; the offer for P-DRI is at INR 14,500-14,600/MT & DR-CLO at INR 16,400-16,500/MT; buying interest have reported at less price by INR 200/MT, according to sponge agents.
Durgapur based Shyam Sel heard to reduce prices by INR 200/MT to INR 14,600/MT for P-DRI. Another manufacturers in the market have sold C-DRI in the range of INR 15,000-15,100/MT.
Rourkela based few small size manufacturers have kept their offers firm at INR 14,200-14,300/MT ex-plant for 80 FeM C-DRI mix material, for outside state buyers. According to the traders in the market, there are limited inquiries at this price.
In Bellary & Hyderabad, “Few smelters have stopped their buying activities owing to festive season and are in wait & watch mode.” stated by a sponge supplier. And also added that plants have good stock levels which may put pressure in the coming weeks.
C-DRI and P-DRI prices as on 27 Dec’16
| Particulars | C-DRI | D-o-D | P-DRI | D-o-D | Current Premium | 1 Week earlier Premium |
| Ex-Durgapur | 15,100 | – 300 | 14,600 | – 300 | 500 | 500 |
| Ex-Rourkela | 14,100 | 0 | 13,900 | 0 | 200 | 400 |
| Ex-Raipur | 15,500 | – 300 | 14,600 | – 150 | 900 | 1,000 |
| Ex-Bellary | 15,450 | – 50 | 15,000 | – 200 | 450 | 200 |
| Ex-Hyderabad | 16,300 | – 100 | 16,000 | – 100 | 300 | 300 |
Prices in INR/MT
Source: SteelMint Research
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