Today, sponge manufacturers have increased their prices by INR 100-350/MT against the previous day closing. Major rise is reported in Durgapur market (+350), followed by Rourkela and Raipur (+100).
Currently, sponge iron (C-DRI) prices are hovering in the range of INR 10,900-12,400/MT and P-DRI prices within INR 10,500-11,500/MT.
Domestic sponge offers as on 5 May’16
| Particulars | C-DRI | D-o-D | P-DRI | D-o-D | Current Premium | 1 Week earlier Premium |
| Ex-Durgapur | 11,650 | +350 | 10,550 | +350 | 1,100 | 1,100 |
| Ex-Rourkela | 10,900 | +100 | 0 | 0 | 0 | 0 |
| Ex-Raipur | 12,400 | +100 | 10,950 | +50 | 1,450 | 1,500 |
| Ex-Bellary | 12,000 | -50 | 11,450 | -50 | 550 | 400 |
Prices in INR/MT
Source: SteelMint Research
Key highlights
1. Raipur based Bajrang Power & Steel, an integrated unit, has sold P-DRI lump at INR 11,100/MT to the local buyers.
2. Rashmi Sponge in Durgapur increased prices and offering 78 FeM P-DRI at INR 10,500/MT ex-plant.
3. Few sponge deals concluded from Rourkela to Punjab for 80 FeM C-DRI at INR 10,800-10,900/MT ex-plant; freight via road is INR 3,100/MT.
4. Amoda Steel & Iron, a 450 TPD sponge manufacturer based in Hyderabad, offered 75 FeM C-DRI lump at INR 12,700/MT.
5. BMM Ispat based in Karnataka reduced P-DRI offers by INR 200/MT to INR 11,700-800/MT. Few bulk deals were concluded to Hindupur.
6. Sources confirmed that Karnataka based sponge manufacturer, Bhadrashree Steel & Power is mostly selling material to Pune, Wada and Goa at INR 12,300-12,400/MT ex-works. Freight charges to Pune is INR 1,200/MT, Wada is INR 1,450-1,500/MT and Goa is INR 900/MT.
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