Following the price volatility in Billet market, sponge offers also remained slightly changed by INR 50-100/MT day on day.
Today, the offers for FeM 78-80 sponge C-DRI are hovering in the range of INR 16,600 -19,000/MT (USD 255-292) ex-plant.
According to the manufacturers, there is a marginal decline in the demand. However, due to healthy bookings in previous days currently offers are hold.
They further added that, there are possibilities for further price surge in Iron ore for Apr’17 deliveries which may strengthen sponge prices in days to come.
Central India: In Raipur, Chhattisgarh Integrated plants are trading P-DRI at INR 17,500/MT while, few small producers are selling material at INR 17,400/MT ex-plant. Sponge DR-CLO offers are prevailing at INR 19,300-19,500/MT ex-plant.
East India: Rourkela, Odisha based manufacturers reported, FeM 80 C-DRI lump offers for Maharashtra, West India at INR 17,000/MT. While, for mix material at INR 16,500-16,700/MT (ex-plant).
South India: In Bellary, Karnataka offers by small manufacturers for FeM 80 C-DRI are at INR 18,200-18,300/MT, while by renowned producers the offers are at INR 18,500-18,700/MT ex-plant. P-DRI offers in the market are prevailing at INR 17,800-18,000/MT ex-plant.
Domestic sponge offers as on 30 Mar’17
| Particulars | C-DRI | D-o-D | W-o-W | P-DRI | D-o-D | W-o-W |
| Ex-Durgapur | 17,350 | + 50 | + 50 | 16,800 | + 100 | + 100 |
| Ex-Rourkela | 16,600 | – 100 | – 100 | 0 | 0 | 0 |
| Ex-Raigarh | 17,700 | 0 | – 200 | 16,750 | 0 | – 150 |
| Ex-Raipur | 18,600 | 0 | – 100 | 17,500 | – 50 | – 250 |
| Ex-Bellary | 18,250 | – 50 | – 150 | 17,850 | – 50 | – 150 |
| Ex-Hyderabad | 18,800 | + 100 | + 100 | 18,850 | + 50 | + 250 |
Prices in INR/MT
Source: SteelMint Research
Leave a Reply