Manufacturers in Central, East & South regions have opened their offers with a price rise of INR 200-400/MT for both P-DRI & C-DRI. Similarly, billet offers were also up by INR 100-500/MT D-o-D.
Presently, 78-80 FeM C-DRI offers are assessed in the range of INR 14,400-16,000/MT and P-DRI within INR 14,500-15,500/MT ex-works. In a week, prices rose by INR 1,000/MT in domestic market.
“Demand is strong on grounds of prevailing positive sentiments in the market. Rising raw material and long products prices are supporting the market”, a south based renowned manufacturer quoted. And added that offers may soon improve, if buying comes from the outside states.
It is also analyzed that, the few large plants are under maintenance in the South region which has created short supply in open market.
In Durgapur, East India, the manufacturers have reported limited sellers for sponge C-DRI as the plants do not have major stock for Iron ore as iron ore dispatches has temporarily been suspended by Odisha based two major merchant miners namely – KJS Ahluwalia and Kaypee Enterprises.
Similarly in Raipur, Central India integrated plants and medium size sponge manufacturers have significantly hiked their prices. The sources have informed that very soon few plant will go for maintenance, this creating the strong sentiments in the sponge market.
Domestic sponge offers as on 16 Feb’17
| Particulars | C-DRI | D-o-D | P-DRI | D-o-D | Current Premium | 1 Week earlier Premium |
| Ex-Durgapur | 15,250 | + 250 | 14,700 | + 200 | 550 | 600 |
| Ex-Rourkela | 14,400 | + 200 | 0 | 0 | 0 | 0 |
| Ex-Raigarh | 15,450 | + 150 | 14,500 | + 300 | 950 | 950 |
| Ex-Raipur | 16,200 | + 400 | 15,200 | + 350 | 1,000 | 1,350 |
| Ex-Bellary | 15,250 | + 150 | 15,000 | + 300 | 250 | 350 |
| Ex-Hyderabad | 15,900 | + 150 | 15,500 | + 100 | 400 | 100 |
Prices in INR/MT
Source: SteelMint Research
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