Indian domestic Sponge & Billet prices remain on downtrend on 13 July, Thursday. The prices have registered fall of – billet by INR 100-500/MT (upto USD 8) & Sponge by INR 100-200/MT.
Low inquiries have forced the manufacturers to deal at lower prices, according to the trade participants.
On 13 July, SteelMint’s price assessments for induction furnaces billet size 125×125 mm are reported at INR 24,400-27,000/MT (USD 375-415) ex-plant.
Further the coal based sponge C-DRI price assessment was at INR 15,000-16,500/MT (USD 230-253) ex-plant.
Indian sponge & billet reference prices as on 13 July 2017
| Particular/Delivery | C-DRI | D-o-D | W-o-W | Billet | D-o-D | W-o-W |
| Ex-Raipur | 16,500 | 0 | 0 | 25,650 | – 50 | -250 |
| Ex-Durgapur | 15,150 | – 100 | -150 | 24,900 | – 100 | -600 |
| Ex-Rourkela | 15,000 | 0 | -200 | 24,450 | – 50 | -550 |
| Ex-Bellary | 15,800 | – 100 | -400 | 26,300 | 0 | -500 |
| Ex-Ahmedabad | – | – | – | 26,900 | – 200 | -450 |
| Ex-Mumbai | – | – | – | 26,800 | – 200 | 0 |
Ex-works basic prices, excluding GST at 18%
Source: SteelMint Research
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