Indian sponge offers have almost remained firm today with minor price change of around INR 100/MT D-o-D. Suppliers mentioned, trade volume remain uncertain.
Presently, FeM 78-80 sponge iron prices are hovering in the range of INR 16,700-18,800/MT (USD 256-290) ex-works.
Trade Log:
1. Raipur based Integrated plants have increased P-DRI prices by INR 100/MT to INR 17,600/MT. The same grade material is being offered by other small size manufacturers at INR 17,400-17,500/MT ex-plant.
2. Price trend setters in Durgapur namely Rashmi Metaliks and Shyam Sel have kept offers unaltered for P-DRI at INR 16,600-16,700/MT & C-DRI at INR 17,100-17,200/MT, according to the trade participants.
3. Singhal Steel, a large semi finish maker in Raigarh, offered C-DRI (0-20 mm) at INR 17,800/MT ex-plant (Raigarh), an official reported. Also added they sold billet at INR 27,000-27,100/MT FOR Raipur.
4. Sources reported, Monnet Ispat’s offer for C-DRI fines at INR 17,600/MT & for same grade lumps at INR 17,800/MT ex-plant, Raigarh.
5. Raigarh (C.G) based smelters purchased FeM 80 C-DRI from Rourkela at INR 17,600-17,700/MT FOR, trade participants shared
6. Bhaskar Steel offered FeM 80 C-DRI lump at INR 16,800/MT & billet at INR 25,800/MT ex-plant (Odisha) through CST billing.
7. Odisha based 150 TPD sponge manufacturers; Mahakali Ispat is offering FeM 80 C-DRI for outside state buyers at INR 16,900-17,000/MT ex-plant.
8. BMM Ispat in South India has offered FeM 80 P-DRI lumps at INR 17,800-17,900/MT ex-Bellary, Karnataka.
9. Sunvik Steels in Karnataka has increased sponge prices within last couple of days by INR 400/MT and offering FeM 80 & 82 C-DRI are INR 18,900/MT and INR 19,300/MT ex-plant, respectively
10. Dhruvdesh Metals has quoted FeM 80 C-DRI mix material at INR 18,200/MT ex-plant, Karnataka. An official also added they sold the same material at INR 19,500/MT FOR Mumbai.
11. Shiv Shakti Steel (Hyderabad) has kept offers unaltered for FeM 80 C-DRI lump to INR 18,700/MT ex-plant.
12. Bellary based Apple Industries is offering billet at INR 28,800/MT and FeM 80 C-DRI lump at INR 18,200-18,300/MT ex-plant. An official added they sold sponge iron to Bangalore at INR 19,000-19,100/MT FOR.
13. Om Shiv Shakti Steel in Hyderabad, has offered FeM 80 P-DRI lump at INR 18,800/MT ex-plant.
Domestic sponge offers as on 28 Mar’17
| Particulars | C-DRI | D-o-D | W-o-W | P-DRI | D-o-D | W-o-W |
| Ex-Durgapur | 17,150 | + 50 | + 50 | 16,650 | + 50 | + 150 |
| Ex-Rourkela | 16,700 | + 100 | + 500 | 0 | 0 | 0 |
| Ex-Raigarh | 17,750 | + 50 | – 50 | 16,800 | + 50 | 0 |
| Ex-Raipur | 18,600 | 0 | + 300 | 17,500 | 0 | + 150 |
| Ex-Bellary | 18,300 | 0 | + 300 | 17,900 | 0 | + 200 |
| Ex-Hyderabad | 18,750 | 0 | + 250 | 18,800 | + 150 | + 300 |
Prices in INR/MT
Source: SteelMint Research
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