Today, Indian sponge market has registered a slight price fluctuations of INR 50-100/MT in central & east regions. However, in South it remains unaltered.
Currently, offers for 78-80 FeM C-DRI are reached at INR 12,800-15,000/MT and P-DRI within INR 12,200-14,550/MT ex-works. Sources in major markets reported that due to festive off they have less inquiries.
C-DRI prices & market sentiments
| Region | Particular | Prices | D-o-D | W-o-W | Sentiments |
| East India | Ex-Durgapur | 14,150 | – 50 | +350 | Demand from north-east regions affected due to cheaper offers by Odisha based manufacturers. |
| Ex-Rourkela | 12,800 | + 100 | +200 | According to trade sources, most of the manufacturers have shut their furnaces and operating sponge unit due to better margins. This has lead to increase sponge availibility in open market. |
|
| Central India | Ex-Raigarh | 13,200 | + 100 | +200 | Demand from the local market and from outside of states is average, prices are anticipated to remains fluctuate. |
| Ex-Raipur | 14,100 | 0 | +700 | ||
| South India | Ex-Bellary | 13,850 | + 100 | +50 | Merchant sponge manufacturers hold their offers in anticipation of further price rise amid increasing billet prices. |
| Ex-Hyderabad | 15,000 | 0 | 0 |
Prices in INR/MT for 78-80 FeM
Source: SteelMint Research
Leave a Reply