Indian Sponge Market Overview
Sponge offers for FeM 78-80 C-DRI in South region are assessed at INR 14,500-15,500/MT (USD 217-233), which was traded in the range of INR 14,800-15,900/MT (USD 221-238) on Feb’17.
Current offers for FeM 78-80 C-DRI in Central India are assessed at INR 15,000-15,500/MT & in East part it traded at INR 14,000-14,200/MT and offers for FeM 79-80 C-DRI mix material are at INR 14,100-14,300/MT.
Similarly, in Central region, Raipur where P-DRI makers reported that buyers are expecting material at lesser than the offered price. The offers for DR-CLO grade sponge are evaluated at INR 16,000-16,200/MT (mix-material, 0-20mm).
Premium between C-DRI and P-DRI in Central & East India has increased by INR 150/MT to INR 1,250/MT & INR 600/MT W-o-W.