Domestic sponge market has registered a price correction of INR 50-200/MT against yesterday’s trade. Falling billet prices amid weak demand has resulted in decrease of sponge iron prices except in South India.
Offers for FeM 78%, C-DRI by East based manufacturers are at INR 12,600-12,800/MT ex-Rourkela, and INR 14,200/MT ex-Durgapur. Where as the FeM 80% C-DRI are offering at INR 13,700-13,900/MT ex-Raipur & INR 13,700-13,800/MT ex-Bellary. In a week prices decreased by INR 100-400/MT
A Karnataka based manufacturer stated, “As of now, there is very little buying interest and prices remains dull. However, Billet offers surge a little today by INR 200-300/MT, hoping for market recovery.”
Premium between C-DRI and P-DRI in Central India has decreased to INR 950/MT, which was INR 1,050/MT last week. In East region, it remain stable at INR 500/MT and in South at INR 300-400/MT.
Domestic sponge offers as on 13 Dec’16
| Particulars | C-DRI | D-o-D | W-o-W | P-DRI | D-o-D | W-o-W |
| Ex-Durgapur | 14,200 | – 50 | -200 | 13,700 | – 150 | -100 |
| Ex-Rourkela | 12,600 | – 100 | -100 | 12,500 | – 50 | -100 |
| Ex-Raipur | 13,800 | – 150 | -400 | 12,850 | – 100 | -300 |
| Ex-Bellary | 13,800 | 0 | 0 | 13,500 | 0 | 0 |
| Ex-Hyderabad | 14,800 | 0 | -100 | 14,500 | 0 | 0 |
Prices in INR/MT
Source: SteelMint Research
Leave a Reply