Indian sponge & billet prices further fall on 14 July, Friday over weak trade activities, according to the trade participants.
On daily assessment, the price corrected sponge by INR 50-200/MT & billet INR 100-250/MT. Coming to weekly basis, the sponge offers decline by INR 50-400/MT (USD 1-6 ), while billet by INR 200-800/MT (USD 3-12)
On 14 July, SteelMint’s price analysis for induction furnaces billet size 125×125 mm are reported at INR 24,300-27,000/MT (USD 373-415) 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 14 July 2017
| Particular/Delivery | C-DRI | D-o-D | W-o-W | Billet | D-o-D | W-o-W |
| Ex-Raipur | 16,500 | 0 | +100 | 25,400 | – 250 | -200 |
| Ex-Durgapur | 15,050 | – 100 | -250 | 24,700 | – 200 | -800 |
| Ex-Rourkela | 15,000 | 0 | -50 | 24,300 | – 150 | -500 |
| Ex-Bellary | 15,800 | 0 | -400 | 26,400 | 0 | -500 |
| Ex-Ahmedabad | – | – | – | 26,800 | – 100 | -250 |
| Ex-Mumbai | – | – | – | 26,800 | 0 | -100 |
Ex-works basic prices, excluding GST at 18%
Source: SteelMint Research
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