Indian Sponge & Billet offers today remain slightly increase by INR 100-300/MT following active trade activities in the domestic market.
SteelMint’s price assessments for induction furnaces billet size 125×125 mm are reported at INR 26,600-28,500/MT (USD 412-441) ex-plant. And the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 17,200-18,200/MT (USD 267-282). The prices mentioned above are ex-plant & excluding GST.
On Friday – 3rd Nov, 2017 INR to USD exchange rate stood at INR 64.57 & BSE Sensex closed at 33,685 (+112).
Key Updates
1. Raipur based Integrated plants kept offers unaltered for P-DRI at INR 16,700/MT ex-plant and the buying interest by Inductions are reported near to INR 16,500/MT.
2. Odisha based medium size sponge manufacturers have increase offers by INR 200-300/MT (D-o-D) to INR 17,300-17,500/MT; FeM 80 C-DRI (70:30 mix material). The last trades by the few of sources reported at around INR 17,100-17,200/MT; ex-plant & excluding GST.
3 According to trade participants in Durgapur, Rashmi Metaliks has lower sponge offers for the day by INR 100-200/MT. The latest offers was around INR 17,300/MT for P-DRI & INR 18,200/MT for C-DRI.
4. Jindal Steel has increased Granulated pig iron (panther shots) offers by INR 300-500/MT. The fresh offers are reported at INR 22,800-23,000/MT ex-plant, Odisha.
5. Indian large producers have raised long steel prices by INR 500-1,000/MT (8-15). Offers for 12mm rebars are assessed in the range of INR 33,500-34,500/MT ex-works.
6. India’s largest iron ore producer – NMDC, Chhattisgarh has kept iron ore prices unchanged for Nov’17 deliveries. Also, Odisha based major miners had kept iron ore prices unchanged in Oct’17 and are maintaining with the same prices as of now.
7. Vizag Steel issues a ocean export tender for 30,000 MT Bloom. Prior to this, the company has concluded about 45,000 MT billets export tender for Nov-end shipment. According to market sources, billet export tender of size 150*150mm with 4 SP specifications concluded at around USD 470-475/MT FOB India and the cargo is likely to be shipped to Sri Lanka.
8. Central India – Raipur based Jayaswal Neco Industries has increased steel grade pig iron prices by INR 300-500/MT. According to officials, the latest offer is at INR 25,000/MT and few deals have concluded near to INR 24,750/MT ex-plant.
9. According to an official of big sponge plant (2,300 TPD) in South India – Karnataka, demand have slowdown currently due to healthy deals during last week at the price range of INR 16,500-17,000/MT for P-DRI and the latest offers by the company are reported at INR 17,200-17,300/MT ex-plant & excluding GST.
10. Today, Medium & small mills in Central, East & South India have kept offers unaltered for rebars.
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 18200 | 18100 | 18300 | 0 | 17300 | 17000 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 17200 | 17100 | 17300 | + 100 | 16150 | 15700 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 18200 | 18100 | 18300 | +100 | 17500 | 16500 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 17400 | 17300 | 17500 | +100 | 16800 | 16400 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 17800 | 17700 | 17800 | +100 | 17000 | 16700 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 17300 | 17200 | 17400 | -100 | 16500 | 16200 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 16700 | 16600 | 16800 | 0 | 16100 | 15000 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 17100 | 17000 | 17200 | 0 | 16600 | 16200 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 17600 | 17500 | 17700 | 0 | 17000 | 16600 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 29900 | 29900 | 30000 | +400 | 28650 | 27800 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 27050 | 27000 | 27100 | +50 | 26500 | 25700 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 26300 | 26200 | 26400 | +200 | 25200 | 25050 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 26500 | 26500 | 26600 | + 50 | 26000 | 25450 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 27100 | 27000 | 27100 | – 150 | 27100 | 25900 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 27250 | 27000 | 27500 | 0 | 27000 | 27000 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 28000 | 28000 | 28300 | 0 | 27000 | 26500 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 30300 | 30200 | 30400 | +300 | 29200 | 28100 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 27450 | 27400 | 27500 | +50 | 26900 | 26050 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 26600 | 26500 | 26700 | +100 | 25600 | 25500 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 27000 | 26900 | 27100 | 0 | 26500 | 26000 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 27500 | 27400 | 27500 | – 100 | 27300 | 26100 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 27750 | 27500 | 28000 | 0 | 27500 | 27500 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 28000 | 28000 | 28300 | 0 | 27000 | 26500 | |
| TMT | Ex-Delhi/NCR | 12MM | 33500 | 33300 | 33700 | +300 | NA | 31600 |
| Ex-Durgapur | 12MM | 30500 | 30300 | 30800 | 0 | 29800 | 29400 | |
| Ex-Raipur | 12MM | 29800 | 29600 | 30000 | 0 | 29200 | 28800 | |
| Ex-Mumbai | 12MM | 30700 | 30300 | 30800 | -300 | 30600 | 29300 | |
| Ex-Chennai | 12MM | 31500 | 31000 | 31600 | -200 | 31700 | 31200 | |
| Ex-Hyderabad | 12MM | 30800 | 30700 | 31000 | 0 | 29800 | 29500 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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