Sponge iron prices in Indian domestic market have remained more or less stable. Despite inconsistent supply of Iron ore in domestic market, prices have not moved up.
Market participants mention that falling Iron ore and Steel prices in global market have compensated short supply in Indian market. Participants mention that Iron ore, Steel Slabs or Re-bars imports are taking place..
Iron ore supply remains a major issue for Indian Sponge iron manufacturers. Most of the plants are running under low utilization or they’re closed.
However, industry participants expect markets to remain stable in coming weeks.
Indian Sponge iron offers with Remarks
|
Place |
Grade |
C-DRI |
P-DRI |
Remarks |
|
Rourkela |
78-80 |
20,200 |
19,000 |
Sponge & Ingot offers reduce by INR 200/MT W-o-W |
|
Jharsugda |
79-80 |
– |
19,200 |
Manufacturers are mostly selling material to UP, freight assessed at INR 2,500/MT |
|
Raigarh |
79-80 |
21,500 |
19,500 |
Rourkela Manufacturers offering Sponge iron (Lumps; 78 FeM) at INR 21,800/MT delivered at Raigarh |
|
Raipur |
80 |
21,600 |
19,500 |
Sponge Pellet prices reduced by INR 500/MT W-o-W, owing to mismatch Production (high) & Consumption/Buying (low) |
|
Durgapur |
78 |
21,200 |
19,200 |
Sponge, Ingot & Billet offers are unchanged |
|
Bellary |
77-78 |
20,800 |
18,800-18,900 |
BMM offers Sponge Pellet (75 FeM) at INR 18,400/MT & Bhadrashree offering (79 FeM) at INR 19,000/MT |
|
Hyderabad |
77 |
– |
20,000 |
Sales remains bearish as after bifurcation of states |
Basic prices; all taxes applicable
Payment condition: next day/advance
Leave a Reply