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Indian Sponge Prices Increase by 8-10% in Jan’17

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Sponge Iron

BigMint Bureau

449 Reads

1 Feb 2017, 19:09 IST

Indian Sponge Prices Increase by 8-10% in Jan’17

On monthly average basis, sponge prices in Central & South India gain sharply by INR 700-1,400/MT (8-10%) in Jan’17. In East India, Durgapur it slightly gain by INR 300-400/MT.

Major price hike is seen in Bellary & Hyderabad (South India) by INR 1,200-1,400/MT followed by Rourkela & Raipur (Central & East India) by INR 1,000-1,200/MT. During the same period, prices for substitute products i.e. melting scrap also rose by 5-7 % (INR 800-1,200/MT) in the Indian domestic market.

Rise in raw material prices and couple with better demand & high prices of other substitute products (Pig iron & Scrap) have strengthen Indian sponge prices.

During the month Indian Iron ore prices were increased by INR 100-300/MT, similarly global coal (South Africa) offers also surge by USD 4-5/MT to USD 85-86/MT (CNF India).

78-80 FeM C-DRI prices are as follow - at INR 14,800/MT (+2.07%) ex-Durgapur, INR 15,750/MT (+7.51%) ex-Raipur, INR 14,150/MT (+8.43%) ex-Rourkela and INR 15,650/MT (+9.06%) ex-Bellary M-o-M. As cities in line, the comparison to Jan’16 offers gain by 20.81%, 21.62%, 21.98% & 26.55%.

Monthly average sponge (C-DRI) prices

Month	Bellary	M-o-M	Durgapur	M-o-M	Raipur	M-o-M	Rourkela	M-o-M
Jan'16	12,050	-200	12,250	-150	12,950	-50	11,600	-100
Feb'16	11,900	-150	12,900	650	13,250	300	11,700	100
Mar'16	12,600	700	12,450	-450	13,150	-100	11,500	-200
Apr'16	12,200	-400	12,050	-400	12,900	-250	11,350	-150
May'16	11,650	-550	11,300	-750	12,300	-600	10,700	-650
Jun'16	11,550	-100	11,400	100	12,100	-200	10,450	-250
Jul'16	11,650	100	11,500	100	12,150	50	10,650	200
Aug'16	12,150	500	12,400	900	12,450	300	11,200	550
Sep'16	13,800	1,650	13,350	950	14,150	1,700	12,800	1,600
Oct'16	14,150	350	13,950	600	14,550	400	13,100	300
Nov'16	14,100	-50	13,650	-300	14,150	-400	12,600	-500
Dec'16	14,000	-100	14,500	850	14,650	500	13,050	450
Jan'17	15,250	1,250	14,800	300	15,750	1,100	14,150	1,100