Domestic sponge market has shown some marginal improvement today compared to trade took place on Saturday. Prices uptick by INR 100-200/MT D-o-D across major markets. However, demand continues to be subdued.
C-DRI and P-DRI prices as on 11 Jan’16
| Particular | Grade (FeM) | C-DRI | D-o-D | P-DRI | D-o-D |
| Ex-Durgapur | 78 | 12,300 | 0 | 11,300 | 0 |
| Ex-Rourkela | 78 | 11,600 | +100 | NA | NA |
| Ex-Raigarh | 80 +/-1 | 12,050 | +50 | 11,050 | +50 |
| Ex-Raipur | 80 +/-1 | 13,200 | +100 | 12,150 | -50 |
| Ex-Bellary | 78 +/-1 | 12,400 | +100 | 11,500 | -100 |
Prices in INR/MT
D-o-D: Price change compared to previous day closing
Source: SteelMint Research
Plant-wise trade offers
1. Jay Jagannath Steel & Power rose sponge offers and offering 80 FeM C-DRI lump at INR 12,200/MT ex-plant (Odisha).
2. Vandana Ispat reduced sponge offers today; sponge DR-CLO at INR 13,800/MT, C-DRI at INR 13,300/MT and billet at INR 21,300/MT ex-plant (Raipur).
3. Aryan Ispat & Power based in Jharsuguda is offering 80 FeM C-DRI (0-20 mm) at INR 12,000/MT ex-plant. In the end of last week, few deals had concluded at approx INR 11,800-11,900/MT to Raipur based buyers on ex-plant basis.
4. In Hyderabad, a merchant seller of sponge, Cauvery Iron & Steel India kept offers unchanged for 80 FeM P-DRI lump at INR 12,600/MT ex-plant.
5. A Rourkela based manufacturer is offering 80 FeM C-DRI at INR 12,400/MT (loaded to wagon) to north-east buyers. Freight to Assam by rail is around INR 2,600/MT.
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