Odisha – one of the major sponge iron producer & exporter in eastern India with an annual contribution of about 25-27% in country’s total DRI production, is learned to explore neighbouring markets with competitive offers.
As per trade sources report to SteelMint, the manufacturers based in Barbil, Odisha are selling material to Durgapur, West Bengal over increased offers in Durgapur by INR 500-600/MT on weekly basis.
Few deals of sponge C-DRI mix material (80+/-1 FeM) from Barbil reported at INR 18,200-18,300/MT FoR Durgapur on advance payment terms.
Meanwhile in Durgapur, the offers for FeM 78 Sponge C-DRI (mix material) are hovering at INR 18,300/MT & P-DRI at INR 17,300/MT. Further offers for FeM 79-80, Sponge C-DRI in Barbil & Rourkela, Odisha hovering at INR 16,600-16,700/MT & INR 16,800-16,900/MT, ex-plant, respectively.
Coming to central India sponge market, where producers are maintaining offers at same levels over average demand amid usual supply. The latest offers for FeM 80, Sponge P-DRI & C-DRI in Raipur, central India evaluated at INR 16,300-16,500/MT & INR 17,200-17,400/MT ex-plant, respectively.
Further in southern India, sponge iron demand has some how slowed down as furnace owners from Maharashtra have slightly lowered inquiries over heavy monsoon which has disturbed logistic in the state, which has resulted in limited fresh bookings.
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