Amid thin trade activities Indian sponge offers remain slightly fluctuating by INR 100/MT on daily price assessment by SteelMint.
On 11 July offers for FeM 78-80 C-DRI sponge are reported at INR 15,000-16,700/MT (USD 230-257) ex-works. Further, on weekly assessment the prices slipped around INR 200-400/MT (USD 3-6).
The standalone sponge manufacturers in Central & East India who’s production is about 100-300 MT per day mentioned that “Prices seems to stabilize at present levels as trades are modest about the seasonal decrease in productions.”
Market Updates:
1. Sponge iron prices in Raipur slip by INR 100/MT D-o-D. SteelMint’s Pellet based sponge (P-DRI) offers are assessed at INR 15,200/MT & DR-CLO based sponge iron offers at INR 17,600/MT ex-works, excluding GST of 18%.
2. In eastern region of India, Durgapur based Integrated plants has reduced prices by INR 100/MT; offers for FeM 78 P-DRI are reported at INR 14,200-14,300/MT & C-DRI at INR 15,200-15,300/MT (Ex-Works, Excluding GST of 18%)
3. A day before, Monnet Ispat sold FeM 80 sponge lumps at INR 15,500/MT ex-plant, Raigarh. And Fines at INR 16,300/MT ex-plant, Raipur; trade activities are firm in these offers.
4. Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 15,100/MT & billet at INR 24,800/MT ex-plant.
5. BMM Ispat, South India’s largest sponge iron plant has kept offers unaltered, FeM 80 P-DRI reported at INR 15,800/MT ex-plant.
6. Sunvik Steels in Karnataka has reduced sponge prices by INR 300/MT; offering FeM 80 & 82 C-DRI lumps are INR 16,200/MT and INR 16,600/MT ex-plant, respectively.
Leave a Reply