Today, as per SteelMint assessment, 78-80 C-DRI sponge are reported at INR 15,400-16,700/MT (USD 235-257) ex-works.
On weekly assessment the prices surged about INR 400-800/MT (USD 6-14) while, on daily assessment it fluctuate by INR 100-200/MT.
The producer sources in Eastern India mentioned “after GST implementation bulk purchasers are on a wait & watch mode due to uncertain price movements.”
Market Updates:
1. Prices in Raipur, Central India almost remained firm. SteelMint’s Pellet based sponge (P-DRI) offers were assessed at INR 15,300-15,400/MT & DR-CLO based sponge offers at INR 17,800/MT ex-works, excluding GST of 18%.
2. In eastern region of India, Durgapur based Integrated plants has reduced prices by INR 100-200/MT; offers for FeM 78 P-DRI were reported at INR 14,600-14,700/MT (Excluding GST of 18%).
3. Raigarh, Central India based Singhal Steel offered C-DRI (0-20 mm) at INR 15,800/MT ex-plant. The company also offering billet at INR 26,300-26,400/MT FoR Raipur.
4. Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI mix material at INR 15,400-15,500/MT & billet at INR 25,300/MT ex-plant.
5. BMM Ispat, South India’s largest sponge iron plant is heard to be offering FeM 80 P-DRI at INR 15,800/MT ex-plant.
6. Sunvik Steels in Karnataka has kept offers unaltered; offering FeM 80 & 82 sponge C-DRI lumps at INR 16,000/MT & INR 16,400/MT ex-plant, respectively.
8. Indian import of South African coal has fallen in May’17 by 14% compared to 4.53 MnT in May’16.
Source: SteelMint Research
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