Indian Sponge iron prices have remained more or less at the same level after 4 days Dussehra holidays. Market participants highlighted that prices have been stable on the backdrop of low trading volumes.
Sponge iron manufacturers still struggle to source Iron ore from Odisha after temporary suspension ordered by the Supreme Court on 16 May, 2014.
NMDC has kept its prices unchanged for the month of October viewing the rising Iron ore imports.
Odisha Mining Corporation (OMC) has announced the national e-auction of Iron ore, which is for 50% salable quantity and will be put under auction every quarter through MSTC. Earlier, the company used to sell less than 10% of total salable Iron ore through e-auction and rest was reserved for MoU holders.
Sponge Iron Prices with Remarks
|
Region |
Market |
Grade (FeM) |
C-DRI |
P-DRI |
Remarks |
|
North India |
Mandi (Punjab) |
78 |
24,500 |
22,600 |
Ingot prices up by INR 300-400/MT |
|
East India |
Rourkela |
78-80 |
20,600 |
– |
After a long time, Sponge and MS Ingot offers rose by INR 300/MT W-o-W |
|
#Durgapur |
78-80 |
21,400 |
19,400 |
Shyam Sel offers P-DRI at INR 19,400/MT |
|
|
Central India |
Raipur |
79-80 |
21,900 |
20,050 |
Vandana offers Sponge (DR CLO; 0-20 mm) at INR 22,200/MT ex-works |
|
#Raigarh |
79-80 |
21,500 |
19,500 |
Induction furnaces may face closure against notice issued from JSPL for Cess Payment till 9th Oct |
|
|
South India |
Bellary |
75 |
19,500 |
18,300 |
Dispatches to Maharashtra getting disturb owing to under-load issue |
Basic prices for next day/advance payment
#Delivered (FoR) prices and rest all ex-works basis
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