On daily basis, Sponge offers increase marginally by INR 100/MT, while billet market reported price rise of INR 100-500/MT.
Major price rise in billet of INR 400-500/MT registered in Maharashtra, where as in rest of markets offers increased around INR 50-200/MT.
As per SteelMint’s assessment, the prices for FeM 78-80 C-DRI sponge are reported at INR 17,400-19,000/MT (USD 272-297).
While, induction furnaces billet (size 125×125 mm) are at INR 26,500-28,500/MT (USD 414-445) ex-works. All prices are ex-works & excluding of GST at 18%.
Key Updates
1. According to the sources, the Central India based manufacturers have offered C-DRI at INR 19,000/MT & INR 17,800/MT for P-DRI. Both prices are basic & excluding of GST at 18%.
2. In West Bengal – Durgapur, big manufacturers have kept sponge offers unaltered for the day; P-DRI at INR 17,300/MT & C-DRI at INR 18,300/MT
3. Sunvik Steels in Karnataka kept sponge prices stable; offering FeM 80 & 82 C-DRI are INR 17,600/MT and INR 18,000/MT ex-plant
4. Prakash Sponge, a prime grade sponge maker in Karnataka sold FeM 80 C-DRI lumps at INR 17,500/MT ex-plant, an official reported.
Indian sponge & billet reference prices as on 9 August 2017
| Particular/Delivery | C-DRI | D-o-D | W-o-W | Billet | D-o-D | W-o-W |
| Ex-Raipur | 19,000 | 0 | +1,500 | 27,450 | +50 | +1,250 |
| Ex-Durgapur | 18,300 | 0 | +800 | 27,400 | -100 | +1,200 |
| Ex-Rourkela | 17,450 | 0 | +1,150 | 26,500 | 0 | +1,100 |
| Ex-Bellary | 17,500 | +100 | +900 | 28,000 | 0 | +500 |
| Ex-Ahmedabad | – | – | – | 28,250 | +150 | +250 |
| Ex-Mumbai | – | – | – | 28,500 | +450 | +1,300 |
Basic, ex-works prices & excluding of GST @ 18%
Source: SteelMint Research
Leave a Reply