India Steel Market Watch
December 28: Sponge iron offers remained unchanged on low procurement by end-users, as per information available with ISMW.
Slow trading activity during Christmas impacted prices, sources said.
Current offers for sponge iron were quoted in a range of Rs 11,900 – 15,400 per ton.
Prices in Mandi Govingarh stood at Rs 15,400 per ton and in Durgapur at Rs 12,500 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-November, 2015-16, sponge iron production fell 11.6% to 12.25 mt, down from 13.86 mt in the same period last year.
Following are sponge iron offers in the domestic markets:
Market |
Prices as on 11.28.2015 |
Prices as on 12.07.2015 |
Prices as on 12.12.2015 |
Prices as on 12.19.2015 |
Prices as on 12.26.2015 |
Weekly change from 12.19.2015 |
Monthly Change from 11.28.2015 |
Sponge Iron |
|||||||
Mandi Govindgarh (Non-branded) |
N/A |
N/A |
|||||
Mandi Govindgarh (Branded) |
14700 |
14300 |
14800 |
15400 |
N/A |
N/A |
|
Durgapur |
11400 |
11600 |
12300 |
12500 |
N/A |
N/A |
|
Raipur |
12500 |
12400 |
12700 |
13200 |
N/A |
N/A |
|
Rourkela |
11000 |
11000 |
11700 |
11900 |
N/A |
N/A |
|
Raigarh |
11500 |
11600 |
12100 |
12400 |
N/A |
N/A |
|
Hyderabad |
N/A |
N/A |
|||||
Orissa |
N/A |
N/A |
|||||
Nagpur |
N/A |
N/A |
Source: Traders