Today, domestic sponge market has registered a price rise of INR 50-350/MT. Improved demand and logistic issues on raw materials like iron ore & coal are providing support to Indian sponge market.
Currently, 78-80 FeM sponge C-DRI prices are hovering in the range of INR 13,000-15,200/MT and P-DRI within INR 12,450-14,650/MT ex-plant.
A south based manufacturer quoted,“Demand is better than the supply and shortage of raw materials is providing an additional support to the prices. It is anticipated that the offers may remain strong as sponge availability is less amid bulk bookings.”
Trade-wise
1. Shyam Sel in Durgapur increased offers by INR 100/MT to INR 12,900/MT for P-DRI and INR 13,700/MT for C-DRI.
2. Aryan Ispat in Jharsugda is offering 80 FeM C-DRI (0-20mm) at INR 13,500/MT ex-plant.
3. Prakash sponge has kept their sales closed. The plant’s last offer for 80 FeM C-DRI lump was heard at INR 13,400-13,500/MT ex-works, Karnataka. A official from the company mentioned that due to short supply they are not giving new offers.
4. Karnataka based ILC Iron & Steel (350 TPD) has offered 80 FeM P-DRI at INR 13,800/MT, ex-plant
5. Apple Industries is offering billet at INR 23,000/MT and sold 80 FeM C-DRI lump at INR 14,200-14,300/MT ex-plant, Karnataka. The manufacturer is mostly selling material to nearby markets like Hindupur and Bangalore.
6. Shiv Shakti Steel is offering 80 FeM C-DRI lump at INR 15,200/MT and billet at INR 23,000/MT ex-plant.(Hyderabad)
Indian sponge offers as on 15 Sep’16
| Particulars | C-DRI | D-o-D | P-DRI | D-o-D | Current Premium | 1 Week earlier Premium |
| Ex-Durgapur | 13,650 | + 200 | 12,850 | + 50 | 800 | 800 |
| Ex-Rourkela | 13,000 | + 200 | 12,450 | + 150 | 550 | – |
| Ex-Raipur | 14,400 | 0 | 13,250 | 0 | 1,150 | 1,200 |
| Ex-Bellary | 13,950 | + 250 | 13,450 | + 150 | 500 | 400 |
| Ex-Hyderabad | 15,200 | + 350 | 14,650 | + 100 | 550 | 350 |
Prices in INR/MT
Source: SteelMint Research
Leave a Reply