Indian sponge offers are continuously on rising mode. The manufacturers have further raised offers by INR 100-300/MT. Recent increase in Iron ore prices by Odisha based miners may remain support domestic sponge offers.
On W-o-W basis, sponge offers increased by INR 1,000-1,300/MT in Raipur, Durgapur, Rourkela & Bellary. These markets are the key suppliers of sponge iron across India.
Trade Updates
1. OCL Iron & Steel, an Integrated plant in Odisha has kept its sales closed for C-DRI because of non availability of stock. However, the manufacturer is offering billet at INR 21,300/MT ex- plant.
2. Odisha based Bhaskar Steel and Ferro Alloy is offering billet at INR 21,100/MT and 80 FeM C-DRI lump at INR 13,500/MT ex-plant, through CST billing.
3. Shyam Metalicks in Jharsugda kept pdri offers firm at INR 12,400/MT ex-plant.
4. 80+ FeM C-DRI lumps is being traded in Odisha by Rexon Strips, which is known as high grade sponge manufacturer. According to officials, the plant has exported around 2,500 MT of DRI to Dubai & kuwait in the current month.
5. BMM Ispat from Karnataka, increased prices by INR 200/MT and offering 80 FeM P-DRI at INR 13,700-13,800/MT ex-plant.
6. ILC Iron & Steel (350 TPD) surged 80 FeM P-DRI offers by INR 200/MT to INR 14,000/MT ex-Bellary.
Leave a Reply