Today, Sponge market has registered a price fall of INR 100-200/MT in Central & East India. However, in South region it remained unaltered day on day.
Presently, FeM 78-80 Sponge C-DRI is hovering at the range of INR 16,000-17,800/MT (USD 250-280) ex-works.
Central & East India based manufacturers reported that, “they are not getting any bulk bookings at present price quotes, the market seems to be at firm level with limited trade activities.” they added.
In Southern part, offers remain stable against last day’s trade. Persistent weak demand & more availability of imported scrap creates selling pressure in the market. As per SteelMint assessment it was also noted that imports of scrap have increased by 8% in Southern part of the country, when compared CY16 over CY15.
For raw material, South African RB2 coal offers were down & currently prevailing at USD 77-78/MT CNF India, which was at USD 81-82/MT in the last week.
Domestic sponge offers as on 27 Apr’17
| Particulars | C-DRI | D-o-D | W-o-W | P-DRI | D-o-D | W-o-W |
| Ex-Durgapur | 16,800 | – 200 | 0 | 16,100 | – 250 | -150 |
| Ex-Rourkela | 16,100 | 0 | + 200 | 0 | 0 | 0 |
| Ex-Raigarh | 16,450 | – 100 | + 50 | 15,500 | – 100 | + 100 |
| Ex-Raipur | 17,300 | – 200 | 0 | 16,200 | – 100 | + 350 |
| Ex-Bellary | 17,300 | 0 | -200 | 17,000 | 0 | -200 |
| Ex-Hyderabad | 17,800 | 0 | -600 | 17,800 | 0 | -500 |
Prices in INR/MT
Source: SteelMint Research
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