Today, domestic sponge market has registered a upward price movement of INR 100-200/MT in east region. However, offers in south & central have remained firm.
Presently, 78-80 FeM C-DRI offers are hovering in the range of INR 12,100-13,950/MT and P-DRI within INR 11,300-13,600/MT.
A south based manufacturer quoted, “ As of now, trade activities are weak due to low demand, but offers are almost firm on account of the upcoming festive season.”
Domestic sponge offers as on 6 Sep’16
| Particulars | C-DRI | D-o-D | P-DRI | D-o-D | Current Premium | 1 Week earlier Premium |
| Ex-Durgapur | 13,050 | + 200 | 12,200 | + 150 | 850 | 900 |
| Ex-Rourkela | 12,100 | + 100 | 0 | 0 | 0 | 0 |
| Ex-Raipur | 13,200 | 0 | 12,200 | 0 | 1,000 | 1,200 |
| Ex-Bellary | 12,800 | 0 | 12,300 | 0 | 500 | 550 |
| Ex-Hyderabad | 13,950 | + 100 | 13,600 | + 100 | 350 | 450 |
Prices in INR/MT
Source: SteelMint Research
Key Highlights
1. Sponge iron DR CLO fines in Raipur sold at INR 13,800/MT ex-works. Lumps offers are heard at INR 14,100-14,200/MT.
2. Raipur based Bajrang Ispat continues to offer P-DRI at INR 12,300/MT. Few other local manufacturers are offering at INR 12,200/MT.
3. Odisha based Bhaskar Steel and Ferro Alloy are offering billet at INR 19,600-19,700/MT and 80 FeM C-DRI lump at INR 12,500/MT ex-plant through CST billing. While, the same grade material is available at INR 13,000-13,100/MT in Durgapur.
4. Karnataka based sponge manufacturer, BMM Ispat has increased prices by INR 200/MT. Current offers of 80 FeM P-DRI lumps are assessed at INR 13,000/MT ex-works.
5. Shiv Shakti Steel, a 200 TPD sponge manufacturer in Hyderabad, has offered 80 FeM C-DRI lump at INR 13,900/MT ex-plant. Also, it is offering billet at INR 22,000/MT ex-plant.
6. Prakash Sponge, a prime grade sponge maker in Karnataka, sold 80 FeM C-DRI lumps at INR 13,200/MT. Mostly deals were concluded to Kerela.
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