India Steel Market Watch
October 5: Prices of sponge iron declined on low procurement by end-users, industry sources said.
Current offers for sponge iron were quoted in a range of Rs 14,000 - 17,400 per ton. Offers were down by Rs 1400 per ton in Mandi, Rs 1800 per ton in Durgapur, Rs 1000 per ton in Raipur, Rs 100 per ton in Rourkela and Rs 1000 per ton in Raigarh.
Sources said the sponge iron industry has an annual capacity of 50 million tons but is currently producing only 17-20 million tons. Currently, the industry is running at 30% of its total capacity.
In April-August, 2015-16, sponge iron production fell 13.6% to 7.58 mt, down from 8.78 mt in the same period last year.
Following are sponge iron prices in the domestic markets:
Market |
Prices as on 09.04.2015 |
Prices as on 09.12.2015 |
Prices as on 09.19.2015 |
Prices as on 09.26.2015 |
Prices as on 10.03.2015 |
Weekly change from 09.26.2015 |
Monthly Change from 09.04.2015 |
Sponge Iron |
|||||||
Mandi Govindgarh (Non-branded) |
|
|
|
|
|
N/A |
N/A |
Mandi Govindgarh (Branded) |
18700 |
18500 |
18500 |
18800 |
17400 |
-1400 |
-1300 |
Durgapur |
15700 |
15300 |
15100 |
15500 |
13700 |
-1800 |
-2000 |
Raipur |
16400 |
16200 |
16000 |
16100 |
15100 |
-1000 |
-1300 |
Rourkela |
14500 |
14400 |
14700 |
14800 |
13500 |
-1300 |
-1000 |
Raigarh |
15300 |
15000 |
15100 |
15000 |
14000 |
-1000 |
-1300 |
Hyderabad |
|
|
|
|
|
N/A |
N/A |
Orissa |
|
|
|
|
|
N/A |
N/A |
Nagpur |
|
|
|
|
|
N/A |
N/A |
Source: Traders