Today, Indian Billet & Sponge offers in major markets observed price fluctuation of INR 100-200/MT while in South India, Hyderabad billet offers fall by INR 500/MT (USD 8) due to poor demand.
SteelMint’s price assessments for induction furnaces billet size 125×125 mm are reported at INR 26,300-28,300/MT (USD 404-435) ex-plant.
Further the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 16,800-18,100/MT (USD 258-278); prices are ex-plant & excluding GST.
Today (Wednesday, November 8, 2017) INR to USD exchange rate stood at INR 64.95 & BSE Sensex closed at 33,218 (-151).
Key Market Updates
1. Due to unavailability of Rake over the last two months, transport of Iron Ore through rake has declined from 1142 rake in August to 936 rake in September recording a decline of more than 18%.
2. Essar Steel has concluded an export deal of around 50,000 MT pellets to China for end November shipment at around USD 123/MT, CFR China
3. Raipur, Central India based Integrated plants offered Sponge P-DRI at INR 16,200-16,300/MT ex-plant , which was at INR 16,300-16,400/MT on 7th Nov’17.
4. According to sources in Durgapur, Rashmi Metaliks today has increased offers by INR 200/MT to INR 17,300/MT for P-DRI & INR 18,100/MT for C-DRI.
5. Jharsugda, Odisha based manufacturers namely- Bhushan Power & Steel has offered Sponge P-DRI at INR 16,000/MT. The company, also offering steel grade pig iron at INR 24,100/MT ex-plant, according to the officials.
6. Indian sponge iron export offers to Bangladesh are firm, as per SteelMint weekly price assessment. The fresh export offers for 80 FeM sponge lumps are reported at USD 315/MT, CPT Benapole (land port of Bangladesh and India).
7. India’s sponge exports increase 50% in first 8 month’s of CY 2017. India has exported about 300,000 MT Sponge iron during Jan-Aug 2017 against same preceding CY 2016 at 200,000 MT.
8. Odisha based manufacturer, Mahavir Ferro Alloys offering Billet at INR 26,500/MT ex-plant. According to officials, last billet export deal for Nepal was concluded at around USD 415/MT (ex-mill) and now the buying interest seen at USD 425/MT (ex-mill) by the same destination.
9. Maharashtra based Lloyd Metals offered Sponge P-DRI (FeM 80) at INR 16,800/MT ex-plant. Also offering the same material for Nashik at INR 17,800-17,900/MT FoR & excluding GST, the officials reported.
10. BIOP Steels in South India, Karnataka has kept offers unaltered, offering FeM 80 & 82 FeM C-DRI lumps at INR 17,100/MT & INR 17,400/MT ex-plant.
11. Rathi Steels in North India, Delhi has unaltered rebar prices at INR 33,700-33,800/MT. Meanwhile, Kalika Steel Alloys in Jalna has slashed rebar prices by INR 300/MT to INR 29,500/MT. The both prices are ex-work, 12 mm & excluding GST @ 18%.
Reference prices as on 8th November 2017
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 18,100 | 18,000 | 18,200 | + 100 | 18,000 | 16,950 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 17,200 | 17,100 | 17,300 | + 50 | 17,000 | 15,800 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 17,700 | 17,600 | 17,800 | – 100 | 18,100 | 16,500 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 16,800 | 16,700 | 16,900 | – 200 | 17,100 | 16,250 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 17,400 | 17,300 | 17,600 | – 100 | 17,700 | 16,600 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 17,300 | 17,200 | 17,400 | + 100 | 17,100 | 16,000 |
| Ex-Jharsugda | Lumps, FeM 78%, +/-1 | 15,900 | 15,700 | 16,100 | – 100 | NA | NA | |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 16,300 | 16,200 | 16,300 | – 100 | 16,650 | 15,000 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 16,500 | 16,400 | 16,600 | – 300 | 16,900 | 16,000 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 17,400 | 17,300 | 17,500 | – 100 | 17,600 | 16,700 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 29,700 | 29,600 | 29,700 | + 200 | 29,400 | 28,250 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 27,000 | 26,900 | 27,100 | + 50 | 27,000 | 25,900 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 26,000 | 25,900 | 26,100 | 0 | 26,000 | 25,300 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 26,100 | 26,000 | 26,200 | – 100 | 26,400 | 25,500 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 26,500 | 26,400 | 26,600 | – 100 | 27,400 | 26,000 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 27,000 | 27,000 | 27,250 | 0 | 27,000 | 27,000 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 27,500 | 27,500 | 28,000 | – 500 | 28,000 | 26,000 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 30,200 | 30,100 | 30,300 | + 200 | 29,800 | 28,700 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 27,450 | 27,400 | 27,500 | + 50 | 27,300 | 26,350 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 26,300 | 26,200 | 26,400 | – 50 | 26,500 | 25,550 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 26,600 | 26,600 | 26,700 | – 100 | 27,000 | 26,000 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 26,700 | 26,600 | 26,700 | – 100 | 27,700 | 26,200 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 27,500 | 27,400 | 27,750 | 0 | 27,500 | 27,500 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 27,500 | 27,500 | 28,000 | – 500 | 28,000 | 26,000 | |
| TMT | Ex-Delhi/NCR | 12MM | 33,000 | 32,800 | 33,200 | 0 | 33,000 | 32,500 |
| Ex-Durgapur | 12MM | 30,700 | 30,500 | 30,900 | + 200 | 30,300 | 29,500 | |
| Ex-Raipur | 12MM | 29,500 | 29,300 | 29,700 | – 100 | 29,700 | 28,800 | |
| Ex-Mumbai | 12MM | 30,100 | 29,700 | 30,200 | 0 | 31,000 | 29,400 | |
| Ex-Chennai | 12MM | 31,300 | 31,100 | 31,500 | 0 | 31,700 | 31,000 | |
| Ex-Hyderabad | 12MM | 30,500 | 30,500 | 30,750 | – 300 | 30,800 | 28,900 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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