Indian sponge & billet manufacturers reported persistent strong demand for the products post Holi festival. Hence, there is a significant increase in prices.
The fresh offers for sponge C-DRI FeM 78-80 in the domestic market are assessed in the range of INR 16,400-18,600/MT (USD 248-281) which was traded at INR 16,000-18,500/MT (USD 242-280) on the weekend i.e. 11 Mar’17.
Similarly, in billet the offers today are assessed at INR 25,500-28,500/MT (USD 386-431) and was traded at INR 25,000-28,100/MT (USD 378-425) on the weekend i.e. 11 Mar’17.
The industry participants mentioned that the trades are quite good from semi finished to long steel products and also prices of raw materials are on higher side; indicates further price support for the products.
Indian Sponge & Billet Prices as on 15 Mar’17
Sponge C-DRI
| Region | Particular/Delivery | Size, Grade, Origin | Prices | W-o-W | M-o-M |
| East India | Ex-Durgapur | Mix, FeM 78 +/-1 | 17,400 | 700 | 2,400 |
| Ex-Rourkela | Mix, FeM 80 +/-1 | 16,400 | 700 | 2,200 | |
| Central India | Ex-Raigarh | Mix, FeM 80 +/-1 | 18,000 | 1,300 | 2,700 |
| Ex-Raipur | Mix, FeM 80 +/-1 | 18,500 | 900 | 2,700 | |
| Mix, FeM 82 +/-1 DR CLO | 19,300 | 1,000 | 2,700 | ||
| South India | Ex-Bellary | Lumps, FeM 78 +/-1 | 17,800 | 800 | 3,100 |
| Lumps, FeM 80 +/-1 | 18,250 | 750 | 3,150 | ||
| Lumps, FeM 82 +/-1 | 18,500 | 700 | 3,150 | ||
| Ex-Hyderabad | Lumps, FeM 80 +/-1 | 18,600 | 600 | 2,850 |
Billet (Induction furnace grade)
| Region | Particular/Delivery | Taxes | Prices | W-o-W | M-o-M |
| North India | Ex-Mandi Gobindgarh | ED 12.5%, VAT/CST Extra | 29,700 | 900 | 2,200 |
| East India | Ex-Durgapur | ED 12.5%, VAT/CST Extra | 26,300 | 1,050 | 2,200 |
| Ex-Jharsugda | ED 12.5%, VAT/CST Extra | 25,500 | 800 | 2,500 | |
| Ex-Kolkata | ED 12.5%, VAT/CST Extra | 26,700 | 1,200 | 2,200 | |
| Ex-Rourkela | ED 12.5%, VAT/CST Extra | 25,500 | 800 | 2,500 | |
| Central India | Ex-Bhilai | ED 12.5%, VAT/CST Extra | 26,900 | 1,100 | 2,300 |
| Ex-Raigarh | ED 12.5%, VAT/CST Extra | 26,000 | 1,000 | 2,200 | |
| Ex-Raipur | ED 12.5%, VAT/CST Extra | 26,900 | 1,000 | 2,200 | |
| West India | Ex-Ahmedabad | ED 12.5%, VAT/CST Extra | 28,400 | 600 | 1,900 |
| Ex-Bhavnagar | ED 12.5%, VAT/CST Extra | 28,200 | 600 | 1,900 | |
| Ex-Goa | ED 12.5%, VAT/CST Extra | 27,500 | 1,200 | 3,900 | |
| Ex-Jaipur | ED 12.5%, VAT/CST Extra | 28,100 | 900 | 2,050 | |
| Ex-Jalna | ED 12.5%, VAT/CST Extra | 27,800 | 800 | 2,400 | |
| Ex-Mumbai | ED 12.5%, VAT/CST Extra | 28,500 | 800 | 2,000 | |
| South India | Ex-Chennai | ED 12.5%, VAT/CST Extra | 28,450 | 1,350 | 3,550 |
| Ex-Hyderabad | ED 12.5%, VAT/CST Extra | 28,500 | 1,000 | 3,500 |
Basic ex-works prices
Source: SteelMint Research
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