India Steel Market Watch
September 28: Prices of sponge iron remained firm on selective procurement by end-users in some locations, industry sources said.
Current offers for sponge iron were quoted in a range of Rs 15,000 - 18,800 per ton. Offers were up by Rs 300 per ton in Mandi, Rs 400 per ton in Durgapur, Rs 100 per ton in Raipur and Rs 100 per ton in Rourkela. However, prices fell by Rs 100 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-July, 2015-16, sponge iron production fell 12.5% to 6.15 mt, down from 7.03 mt in the same period last year.
Following are sponge iron prices in the domestic markets:
Market |
Prices as on 08.29.2015 |
Prices as on 09.04.2015 |
Prices as on 09.12.2015 |
Prices as on 09.19.2015 |
Prices as on 09.26.2015 |
Weekly change from 09.19.2015 |
Monthly Change from 08.29.2015 |
Sponge Iron |
|||||||
Mandi Govindgarh (Non-branded) |
|
|
|
|
|
N/A |
N/A |
Mandi Govindgarh (Branded) |
|
18700 |
18500 |
18500 |
18800 |
300 |
N/A |
Durgapur |
15700 |
15700 |
15300 |
15100 |
15500 |
400 |
-200 |
Raipur |
16500 |
16400 |
16200 |
16000 |
16100 |
100 |
-400 |
Rourkela |
14400 |
14500 |
14400 |
14700 |
14800 |
100 |
400 |
Raigarh |
15600 |
15300 |
15000 |
15100 |
15000 |
-100 |
-600 |
Hyderabad |
15800 |
|
|
|
|
N/A |
N/A |
Orissa |
|
|
|
|
|
N/A |
N/A |
Nagpur |
|
|
|
|
|
N/A |
N/A |
Source: Traders