Today, sponge market has registered slight price corrections of INR 50-150/MT in Central & East India. However, in South it remains unaltered.
Presently, FeM 78-80 C-DRI prices are hovering in the range of INR 15,400-17,700/MT (USD 230-265 ) and P-DRI within INR 15,400-17,200/MT (USD 230-258) ex-plant.
Premium between P-DRI and C-DRI in Central & South India has increased about INR 200-300/MT to INR 1,150/MT & INR 300/MT, respectively. Although, in the East region, Durgapur it remain firm at INR 600-700/MT.
Sponge Prices & Market Sentiments of Major Markets
| Particulars | C-DRI | D-o-D | P-DRI | D-o-D | Remarks |
| Ex-Durgapur | 16,300 | -50 | 15,700 | -50 | A trade source of sponge iron added, demand is average as supply are normalized which was poor during the last week of Feb’17. Prices to remain slightly change, he said. |
| Ex-Rourkela | 15,400 | -100 | 0 | 0 | Sponge offers remain slightly change; increase in iron ore prices gives support to sponge market |
| Ex-Raigarh | 16,400 | -50 | 15,400 | -100 | Odisha sponge trading at INR 16,200-16,300/MT FOR which has put pressure on local market based sponge manufacturers |
| Ex-Raipur | 17,400 | -100 | 16,250 | -150 | Integrated plants are reducing prices by INR 100/MT day to day since last 2-3 days following less inquiries |
| Ex-Bellary | 17,000 | 0 | 16,800 | 0 | Sponge prices are likely to remain strong in the region looking at higher scrap prices amid shortage and healthy exports of semis & long products by small scale producers |
Prices in INR/MT
Source: SteelMint Research
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