Indian Sponge Trade Log

Today, the sponge market has registered slight price fluctuations of INR 100-250/MT in Central, East & South region.

Currently, offers for 78-80 FeM C-DRI are reached at INR 13,600-16,200/MT and P-DRI within INR 13,400-16,000/MT ex-works.

Premium between C-DRI and P-DRI in Central India has increased to INR 1,100-1,200/MT, which was INR 900-1,000/MT during last week. In East region, it remain firm at INR 500/MT and South at INR 200-300/MT.

Trade Updates

1. Sponge inquiries weak in the Raipur from the outstations. The manufacturers are majorly selling material in the local market. Logistic crisis (higher freight charges & shortage of vehicles) also an major problem to sell material in other states.

2. Rashmi Metaliks in Durgapur cut C-DRI prices by INR 100-200/MT to INR 14,800-14,900/MT. Another large manufacturer in the market namely, Shyam Sel heard to offer P-DRI at INR 14,400/MT.

3. Sunvik Steels in Karnakata has kept offers unchanged. Offering 80 & 82 FeM C-DRI are at INR 15,550/MT and INR 15,950/MT ex-plant.

4. BMM Ispat in Karnataka has reduced offers by INR 100-200/MT D-o-D. Current offers for 80 FeM P-DRI at INR 15,100-200/MT ex-plant (Karnataka).

5. Bhadrashree Steel & Power Ltd is offering 80 FeM C-DRI lump at INR 15,300/MT ex-plant (Karnataka).

6. Hare Krishna, a 300 TPD sponge manufacturer in Karnataka has reduced 80 FeM P-DRI offers by INR 200/MT to INR 14,800/MT ex-works

7. Shiv Shakti Steels, a 200 TPD sponge manufacturer in Hyderabad is offering 80 FeM C-DRI lumps at INR 16,000/MT. The company is also offering billet at INR 25,000/MT ex-plant.

8. Amoda Iron & Steel Ltd (450 TPD) is  offering 75 FeM C-DRI lump at INR 14,500-600/MT ex-plant (Hyderabad)

C-DRI and P-DRI prices as on 29 Dec’16

Prices in INR/MT
Source: SteelMint Research