Sponge manufacturers in South India, today have increased their prices by INR 100-300/MT against the last day trade. However, in Central & East the offers slipped by INR 100-200/MT D-o-D (Day on day).
Current offers for FeM 78-80 C-DRI are hovering in the range of INR 14,800-16,800/MT (USD 220-250) ex-works.
On weekly premises, sponge offers surge by INR 700-1,500/MT. However, looking to raw materials price movement, domestic Iron ore & South African coal offers are almost remained firm in the same time duration. The fresh offers for global RB2 (5500 NAR) offers are assessed at USD 80-81/MT CNF India.
As per the SteelMint assessment it was also noted that Sponge offers hit 20 months high. The current price range was last reported during June 2015.
Trade Highlights
1. Limited quantity is being offered by Raipur based Integrated plants for P-DRI. Today’s offer price are unaltered for P-DRI at INR 15,800/MT (ex-plant) and below this, the manufacturers not willing to sell material due to bulk advance bookings amid less production for the material.
2. According to sources in Durgapur, Rashmi Metaliks has kept offers unaltered for C-DRI at INR 15,800-15,900/MT.
3. Bhaskar Steel and Ferro Alloy Ltd offered FeM 80 C-DRI lump through CST billing at INR 15,000-15,200/MT. Also offering billet at INR 23,600-23,700/MT ex-plant (Odisha)
4. OCL Iron, a large semis manufacturer from Odisha offererd FeM 80 C-DRI (mix material) at INR 15,000/MT for outside state buyers & billet at INR 23,600-23,800/MT; ex-plant
5.BMM Ispat, a price trend setter of sponge iron in South India has offerd FeM 80 P-DRI at INR 15,800-16,000/MT (ex-plant)
6. Sunvik Steels in Karnakata has kept offers unaltered for today post increased prices in the last couple of days by INR 500-700/MT. The fresh prices for FeM 80 & 82 C-DRI are at INR 15,900/MT and INR 16,300/MT ex-plant, respectively.
7. Yeshashvi Steel & Alloys, a 150 TPD sponge Manufacturer from Karnataka is offering FeM 80 C-DRI lump at INR 15,700-15,800/MT ex-plant
8. Shiv Shakti Steel, a 200 TPD sponge manufacturer in Hyderabad, has offered 80 FeM C-DRI lump at INR 16,800/MT. The company is also offering billet at INR 25,500/MT (ex-plant).
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