Market Wise Updates
1. Sponge iron prices in Raipur remained more or less same. SteelMint’s Pellet based sponge (P-DRI) was assessed at INR 14,700-14,800/MT, DR-CLO based sponge iron offers were assessed at INR 17,100-17,300/MT. All prices are on ex-works basis, excluding excise duty of 12.5%.
2. A large manufacturer in Durgapur (eastern region of India) has reduced prices by INR 100-200/MT; offers for FeM 78 P-DRI were reported at INR 14,700-14,800/MT & C-DRI at INR 15,700-15,800/MT (Ex-Works, Excluding Excise Duty of 12.5%)
3. Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 15,000/MT & billet at INR 23,800/MT ex-plant (Odisha, excluding excise) through CST billing
4. BMM Ispat, South India’s largest sponge iron plant is heard to be offering FeM 80 P-DRI at INR 15,000/MT ex-plant, excluding excise.
5. Odisha based merchant miners cut Iron ore prices in the range of INR 150-400/MT
6. India: Odisha Iron Ore Dispatches from Merchant Mines Up 9% in May’17
7. In the latest update on the case hearing regarding illegal iron ore mining in the state of Odisha, SteelMint learned from its market participants that final judgment is reserved by Supreme Court and is likely to be out in Jul’17
Prices in INR/MT
Source: SteelMint Research
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