Today, domestic sponge market has reported minor price corrections of INR 100-200/MT in regards to last day closing. In current state of affairs, market seems to be dull with limited trade activities taking place as manufacturers are still in wait and watch mode.
C-DRI & P-DRI prices as on 21 Mar’16
| Particular | C-DRI | D-o-D | P-DRI | D-o-D | Current Premium | 1 Week Earlier Premium |
| Ex-Durgapur | 12,050 | -150 | 11,100 | -100 | 950 | 1,000 |
| Ex-Rourkela | 11,000 | -100 | 11,000 | 0 | 0 | NA |
| Ex-Raipur | 12,850 | -100 | 11,650 | 0 | 1,200 | 1,150 |
| Ex-Bellary | 12,500 | -100 | 11,750 | -50 | 750 | 550 |
| Ex-Hyderabad | 14,000 | 0 | 13,500 | 0 | 500 | NA |
Prices in INR/MT
Source: SteelMint Research
Current trade dynamics
1. A Raipur based DR CLO grade sponge manufacturer heard to sold 0-20 mm at INR 13,500/MT ex-works, payment advance. DR CLO lump offers are assessed at INR 13,700-13,800/MT.
2. Hare Krishna, a 300 TPD sponge manufacturer in Karnataka, is offering 80 FeM P-DRI at INR 12,000/MT ex-plant.
3. Amoda Iron & Steel kept its offers unchanged; offering 75 FeM C-DRI lump at INR 13,300/MT ex-plant (Hyderabad).
4. Pooja Sponge (200 TPD) is offering 80 FeM C-DRI at INR 11,300/MT (VAT) and INR 11,500/MT (CST) ex-plant (Odisha).
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