In Central & East India the prices of sponge have fallen slightly up to INR 200/MT day on day however in south region it’s on uptrend with the equal amount of increase in prices.
The producer source in the Central & East regions mentioned that owing to weaken billet trades, sponge inquiries are less, hence the offers have been corrected.
In South India the prices have surge in line with increased prices by BMM Ispat which is known as a key supplier for sponge in the region; they have increased offers about INR 1,000/MT in the last couple of days.
Today, with mix price movement the offer price for FeM 78-80 C-DRI are evaluated at INR 17,000-19,200/MT (USD 263-298) ex-works. However, in context to raw material prices, RB2 (5500 NAR) coal were reported at USD 81-82/MT CNF India with slight price surge in the material.
The prices of other key raw materials like Iron ore are rollover for the 1st half of Apr’17 while, pellet prices fall slightly by INR 100-200/MT, W-o-W.
In the current circumstances the Industry participants are assuming further price volatility in sponge market looking at subdued trade activities across semis & long products.
Domestic sponge offers as on 13 Apr’17
| Particulars | C-DRI | D-o-D | W-o-W | P-DRI | D-o-D | W-o-W |
| Ex-Durgapur | 18,250 | – 100 | + 700 | 17,600 | – 50 | + 600 |
| Ex-Rourkela | 17,000 | – 100 | + 300 | 0 | 0 | 0 |
| Ex-Raigarh | 17,800 | – 50 | + 250 | 16,800 | – 100 | + 200 |
| Ex-Raipur | 18,400 | – 200 | + 100 | 17,300 | – 150 | + 250 |
| Ex-Bellary | 18,850 | + 150 | + 350 | 18,500 | + 200 | + 400 |
| Ex-Hyderabad | 19,200 | 0 | + 50 | 19,200 | 0 | + 400 |
Prices in INR/MT
Source: SteelMint Research
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