India Steel Market Watch
November 16: Prices of sponge iron fell again on low procurement by end-users, industry sources said.
Current offers for sponge iron were quoted in a range of Rs 12,000 – 15,300 per ton.
According to sources, the annual capacity of the sponge iron industry at present is 50 million tons but it is currently operating at only 30% of its total capacity, producing a mere 17-20 million tons due to lack of demand.
In April-September, 2015-16, sponge iron production fell 14.2% to 9 mt, down from 10.48 mt in the same period last year.
Following are sponge iron offers in domestic markets:
Market |
Prices as on 10.17.2015 |
Prices as on 10.23.2015 |
Prices as on 10.31.2015 |
Prices as on 11.07.2015 |
Prices as on 11.14.2015 |
Weekly change from 11.07.2015 |
Monthly Change from 10.17.2015 |
Sponge Iron |
|||||||
Mandi Govindgarh (Non-branded) |
|
|
|
|
|
N/A |
N/A |
Mandi Govindgarh (Branded) |
16600 |
16500 |
15200 |
16400 |
15300 |
-1100 |
-1300 |
Durgapur |
13800 |
13800 |
12800 |
14000 |
12600 |
-1400 |
-1200 |
Raipur |
14300 |
13400 |
13000 |
14500 |
13500 |
-1000 |
-800 |
Rourkela |
12800 |
12400 |
11800 |
12800 |
12000 |
-800 |
-800 |
Raigarh |
13600 |
12800 |
12300 |
14000 |
12700 |
-1300 |
-900 |
Hyderabad |
|
|
|
|
|
N/A |
N/A |
Orissa |
|
|
|
|
|
N/A |
N/A |
Nagpur |
|
|
|
|
|
N/A |
N/A |
Source: Traders