Indian sponge offers continue to surge following improved demand for the material. The producers mentioned, as of now trade volumes are healthy which was quite dull during a week ago.
With increase prices by INR 100-300/MT D-o-D & INR 300-700/MT W-o-W, fresh offers for FeM 78-80 C-DRI are hovering at INR 14,800-16,000/MT (USD 230-250) ex-works.
In current circumstances, the semis demand is strong across nation which in turn moving the market on positive note.
The manufacturers in Eastern region- Durgapur & Rourkela mentioned demand is quite good for domestic as well for exports markets.
Presently, few small deals of billet is being concluded to Nepal at approx USD 390-395/MT ex-works.
Also small quantity of sponge lumps are sold to Bangladesh by Durgapur based manufacturer at approx USD 285/MT CPT Benapole port, Bangaldesh.
Domestic sponge offers as on 20 Jun’17
| Region | Particular/Delivery | Prices | D-o-D | W-o-W |
| East India | Ex-Durgapur | 16,000 | + 150 | + 500 |
| Ex-Rourkela | 14,800 | + 200 | + 700 | |
| Central India | Ex-Raigarh | 14,800 | + 200 | + 600 |
| Ex-Raipur | 15,800 | 0 | + 200 | |
| South India | Ex-Bellary | 15,100 | + 300 | + 500 |
| Ex-Hyderabad | 15,800 | 0 | + 300 |
Prices in INR/MT
Source: SteelMint Research
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