Indian Sponge Iron Trade Log, D-o-D

The major sponge producing markets has seen mix price trend on day on day trade basis. In South region the prices of sponge iron again surge up to INR 300/MT. But in Central & East regions it declined up to INR 150/MT.

Currently, FeM 78-80 C-DRI prices are hovering in the range of INR 15,600-17,500/MT (USD 234-264) and P-DRI within INR 15,700-17,000/MT (USD 235-255) ex-plant.

In context of raw material, recently Odisha based large miners have increased Iron ore price up to INR 300/MT for Mar’17 deliveries. Sources are assuming that, NMDC Chhattisgarh based miner may also follow suit and hike their prices.

For a sponge market outlook the Industry watchers added that as the miners have raised prices and demand is strong, the sponge manufacturers may keep offers on higher side.

Trade Log:

1. The Integrated plants in Raipur cut P-DRI prices by INR 100/MT to INR 16,500/MT. On 27th Feb’17 the manufacturers have released limited quantity at the price of INR 16,600/MT ex-plant.

2. According to sources in Durgapur, Rashmi Metaliks has kept offers unaltered for C-DRI at INR 16,500/MT

3. Singhal Steel, a large semi finish maker with current billet production of 600 MT per day in Raigarh, sold C-DRI (0-20 mm) at INR 16,800/MT ex-plant (Raigarh), an official reported

4. Raigarh (C.G) based smelters purchased FeM 80 C-DRI from Rourkela at INR 16,500-16,600/MT FOR, trade participants shared

5. Bhaskar Steel offered FeM 80 C-DRI lump at INR 15,600-15,700/MT & billet at INR 24,200-24,300/MT ex-plant (Odisha) through CST billing.

6. Maharashtra based smelters purchased FeM 80 C-DRI from Bellary at INR 17,800-18,000/MT FOR Jalna, trade participant shared. Also added they are getting offer of same material at INR 18,500-18,700/MT FOR Jalna from Rourkela, Odisha.

7. BMM Ispat in Karnataka; sold FeM 80 P-DRI lumps at INR 16,800/MT ex-plant. And opened new offer at INR 17,000/MT ex-plant

8. Sunvik Steels in Karnakata have kept offers unaltered; offering FeM 80 & 82 C-DRI are INR 17,000/MT and INR 17,400/MT ex-plant

9. ILC Iron & Steel, a 350 TPD sponge manufacturer from Karnataka hike offers for FeM 80 C-DRI lump by INR 200/MT to INR 17,200-17,300/MT ex-plant. The company officials mention few deals to Indore (M.P) at around INR 17,000/MT (ex-plant).

10. Apple Industries, who produces 8,000-9,000 MT billet per month and also a merchant seller is offering billet at INR 27,000/MT and FeM 80 C-DRI lump at INR 16,700-16,800/MT ex-plant (Karnataka).

11. Shiv Shakti Steel (Hyderabad) offered FeM 80 C-DRI lump at INR 17,600/MT ex-plant. And billet at INR 26,500/MT ex-plant. While, the same grade P-DRI is being offered by Sunder Ispat in same place at INR 17,000/MT ex-plant.

Domestic sponge offers as on 28 Feb’17

Prices in INR/MT
Source: SteelMint Research