Market Updates:
1. Sponge iron prices in Raipur remained more or less same. SteelMint’s Pellet based sponge (P-DRI)offers were assessed at INR 14,400/MT& DR-CLO based sponge iron offers at INR 16,800/MT ex-works, excluding excise duty of 12.5%.
2. Big manufacturers in Durgapur (eastern region of India) has increased prices by INR 100-200/MT; offers for FeM 78 P-DRI were reported at INR 14,400/MT & C-DRI at INR 15,300-15,400/MT (Ex-Works, Excluding Excise Duty of 12.5%)
3. Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 14,700/MT & billet at INR 24,700/MT ex-plant (Odisha, excluding excise) through CST billing
4. BMM Ispat, South India’s largest sponge iron plant is heard to be offering FeM 80 P-DRI at INR 15,000/MT ex-plant, excluding excise. The prices are unaltered as compared to last week assessment.
5. Sunvik Steels in Karnataka has kept offers unaltered; offering FeM 80 & 82 sponge C-DRI lumps are INR 15,500/MT & INR 15,900/MT ex-plant, respectively.
6. SCCL coal production increased by 12% M-o-M, the company has produced 5.05 MnT coal in May’17 against 4.49MnT during Apr’17.
7. Odisha state, the largest iron ore producer in India has lined up seven more mineral blocks for auctions in this financial year. In the list -five of iron ore mines, one limestone and one graphite block slated to be auctioned.
Prices in INR/MT
Source: SteelMint Research
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