Amid weak trades domestic sponge offers today registered minor price change of INR 100-250/MT D-o-D and stood at INR 14,100-16,500/MT (USD 207-243/MT) ex-works, for 78-80 FeM C-DRI.
Premium between C-DRI and P-DRI in Central India has reduced by INR 200/MT to INR 800/MT W-o-W. In East & South regions it remain unaltered at INR 400-500/MT & INR 300-400/MT, respectively.
Domestic sponge offers as on 17 Jan’17
| Particulars | C-DRI | D-o-D | W-o-W | P-DRI | D-o-D | W-o-W |
| Ex-Durgapur | 14,800 | – 250 | -50 | 14,350 | – 250 | -100 |
| Ex-Rourkela | 14,100 | + 100 | 0 | 0 | 0 | 0 |
| Ex-Raipur | 15,800 | – 100 | + 200 | 15,000 | 0 | + 300 |
| Ex-Bellary | 15,900 | + 100 | + 350 | 15,500 | + 100 | + 300 |
| Ex-Hyderabad | 16,500 | 0 | 0 | 16,500 | 0 | 0 |
Prices in INR/MT
Source: SteelMint Research
Trade Updates of Key markets
Central India: Integrated plants in Raipur are trading P-DRI at INR 15,000/MT. Sponge DR-CLO offers are prevailing at INR 16,400-16,500/MT. The manufacturers are largely selling the material in the local market.
East India: Rourkela based manufacturers are offering 80 FeM C-DRI mix material in the range of INR 14,000-14,300/MT & 100% lumps at INR 14,500-14,700/MT through CST billing. Manufacturers stated, less inquiries owing to lull trade in Ingot/billet. They also added strong iron ore & coal offers amid logistic issue may support Indian sponge market.
In a week, RB2 coal offers were up by USD 2/MT, to USD 82-83/MT CNF India & USD 72-73/MT FoB South Africa.
Shyam Sel, a price indicator in Durgapur has kept P-DRI offers unchanged at INR 14,400/MT. Another Durgapur based Sponge manufacturer reported limited trade activities within State as sales of billet was less outside Durgapur.
South India: Karnataka based Sunvik Steels is one of the renowned sponge manufacturer in the State has kept offers unchanged since couple of weeks; current offers for 80 FeM C-DRI at INR 16,250/MT & 82 FeM at INR 16,650/MT ex-plant. BMM Ispat another bulk supplier & producer for P-DRI has increase prices by INR 200/MT to 15,500/MT ex-plant.
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