Indian Sponge Market Shows Mix Trend in Apr’17

Trade activities were quite good in the start of month, however gradually the demand declined and the prices turned volatile in later April.

On monthly average basis, prices in South (Karnataka) & East India gain by INR 150-400/MT (2-3%) in Apr’17. However, in Central India, Raipur it plunged by INR 250/MT (-1.38%).

For Apr’17 the average prices & changes for FeM 78-80 C-DRI are as follow – at INR 17,350/MT (+2.36%) ex-Durgapur, INR 17,900/MT (-1.38%) ex-Raipur, INR 16,200/MT (+2.17%) ex-Rourkela and INR 18,000/MT (+0.84%) ex-Bellary M-o-M. As cities in line, the comparison to Apr’16 offers gain by 43.98%, 38.37%, 45.37% & 44.26%.

In the month, the highest trade price for FeM 78-80 C-DRI was reported at INR 18,600/MT ex-Raipur, INR 18,350/MT ex-Durgapur, INR 17,100/MT ex-Rourkela & INR 18,900/MT ex-Bellary.

Analyzing the price movement in substitute products i.e. melting scrap rose by 4-8 % & pig iron up to 10% in Apr’17, M-o-M.

Monthly average sponge (C-DRI) prices Apr’17

Month	Bellary	M-o-M	Durgapur	M-o-M	Raipur	M-o-M	Rourkela	M-o-M
Apr’16	12,200	-400	12,050	-400	12,900	-250	11,350	-150
May’16	11,650	-550	11,300	-750	12,300	-600	10,700	-650
Jun’16	11,550	-100	11,400	100	12,100	-200	10,450	-250
Jul’16	11,650	100	11,500	100	12,150	50	10,650	200
Aug’16	12,150	500	12,400	900	12,450	300	11,200	550
Sep’16	13,800	1,650	13,350	950	14,150	1,700	12,800	1,600
Oct’16	14,150	350	13,950	600	14,550	400	13,100	300
Nov’16	14,100	-50	13,650	-300	14,150	-400	12,600	-500
Dec’16	14,000	-100	14,500	850	14,650	500	13,050	450
Jan’17	15,250	1,250	14,800	300	15,750	1,100	14,150	1,100
Feb’17	14,950	-300	15,100	300	16,200	450	14,450	300
Mar’17	17,450	2,500	16,950	1,850	18,150	1,950	16,150	1,700
Apr’17	17,600	150	17,350	400	17,900	-250	16,500	350

Prices in INR/MT
Source: SteelMint Research

Indian Sponge Market Shows Mix Trend in Apr’17

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