Indian Sponge & billet offers increased further by INR 100-400/MT (upto USD 7) day on day following improved demand amid domestically supply crunch for sponge iron.
On 4-August 2017, SteelMint’s price assessment for induction furnaces grade billet (size 125×125 mm) are reported at INR 26,000-28,000/MT (USD 406-438) ex-works, which was at INR 25,500-28,000/MT (USD 398-438) on 3 August 2017.
Further after increase in 78-80 FeM sponge offers, C-DRI is hovering in the range of INR 17,000-18,200/MT (USD 265-284) ex-work.
Medium size sponge manufacturers in Central & Eastern regions reported, healthy bookings with them amid low productions.
Indian sponge & billet reference prices as on 4 August 2017
| Particular/Delivery | C-DRI | D-o-D | W-o-W | Billet | D-o-D | W-o-W |
| Ex-Raipur | 18,200 | +100 | +800 | 26,700 | +200 | +350 |
| Ex-Durgapur | 17,850 | +150 | +350 | 26,700 | +200 | +400 |
| Ex-Rourkela | 17,000 | +400 | +750 | 26,000 | +500 | +400 |
| Ex-Bellary | 16,800 | +100 | +500 | 27,400 | +100 | 0 |
| Ex-Ahmedabad | – | – | – | 27,700 | +100 | +50 |
| Ex-Mumbai | – | – | – | 27,900 | +250 | +1,200 |
Basic, ex-works prices & excluding of GST @ 18%
Source: SteelMint Research
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