Indian Semi-finished offers rise further on strong inquiries, Sponge iron upto INR 500/MT & Billet upto INR 650/MT, D-o-D.
During the day, major price rise in Billet have seen in Mumbai by INR 650/MT, while in sponge iron prices sharply increase in Raipur & Bellary by INR 300-500/MT.
SteelMint’s price assessment for induction furnaces billet size 125×125 mm are reported at INR 26,500-29,400/MT (USD 408-452) ex-plant. While, coal based sponge (78-80 FeM) C-DRI price assessment was at INR 17,300-18,800/MT (USD 266-289); prices are ex-plant & excluding GST.
Today (Friday, November 17, 2017) INR to USD exchange rate stood at INR 65.00 & BSE Sensex closed at 33,342 (+235).
Key Market Updates:
1. Vizag Steel’s pig iron export tender for 25,000 MT expired on 15 Nov’17. As per sources, the tender received no bids.
2. RSP (Rourkela Steel Plant) tender held on 16th Nov to sell about 4,000 MT steel grade pig iron have received average response. According to sources, the company was able to sell only 1,500 MT pig iron and the remaining material is unsold. The bid price of the tender was at INR 22,900/MT.
3. Central India based Integrated plants have increased Sponge P-DRI offers by INR 400/MT to INR 17,400-17,500/MT. Inline, Sponge DR-CLO grade offers also increased by INR 300-400/MT to INR 19,200-19,400/MT. Both prices are ex-plant & excluding GST.
4. Durgapur based, Rashmi Metaliks has increased offers by INR 100-200/MT to INR 17,200/MT for P-DRI & INR 18,100/MT for C-DRI (Sources).
5. BMM Ispat has increased offers for FeM 80 P-DRI by INR 400/MT to INR 16,900-17,000/MT ex-Bellary, Karnataka an official reported.
6. BIOP Steels based in South India, Karnataka has concluded few deals for FeM 80 C-DRI lumps to M.P at INR 17,600/MT (ex-plant); freight to Mandsaur (M.P) at INR 2,200/MT, the officials reported.
7. Sunvik Steels in Karnataka kept sponge prices unaltered; offering FeM 80 & 82 C-DRI are INR 17,600/MT and INR 18,000/MT ex-plant
8. Paradip Port Trust has invited bids for allotment of 07 mechanical iron ore/iron ore pellets plots through online.
9. Pig Iron offers in Durgapur decline further by INR 200-300/MT and the latest offers are assessed at INR 23,300-23,500/MT..
10. Medium and small mills in Raipur & Durgapur today have increased rebar, structure & wire rod offers by INR 100-300/MT.
11. During current week melting scrap (ship breaking) offers in Alang, Gujarat increase sharply by INR 600-800/MT due to low availability of material.
Reference prices as on 17th 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 | 17,200 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 17,300 | 17,300 | 17,400 | + 100 | 17,100 | 15,900 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 18,800 | 18,700 | 18,900 | + 500 | 17,600 | 16,900 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 17,300 | 17,200 | 17,400 | + 400 | 16,500 | 16,450 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 17,200 | 17,100 | 17,300 | + 100 | 17,200 | 16,400 |
| Ex-Jharsugda | Lumps, FeM 78%, +/-1 | 16,300 | 16,200 | 16,400 | + 100 | 15,800 | NA | |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 17,500 | 17,400 | 17,500 | + 400 | 16,400 | 15,400 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 17,000 | 16,900 | 17,100 | + 400 | 16,300 | 16,250 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 30,000 | 30,000 | 30,100 | + 150 | 29,700 | 28,350 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 27,550 | 27,500 | 27,600 | + 150 | 26,850 | 26,000 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 26,200 | 26,100 | 26,300 | + 200 | 25,800 | 25,200 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 27,000 | 26,900 | 27,000 | + 300 | 25,900 | 25,450 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 28,400 | 28,300 | 28,500 | + 650 | 27,000 | 26,350 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 27,000 | 26,750 | 27,250 | 0 | 27,000 | 27,000 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 28,000 | 28,000 | 28,000 | 0 | 27,250 | 26,750 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 30,500 | 30,400 | 30,500 | + 100 | 30,200 | 28,800 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 27,850 | 27,800 | 27,900 | + 200 | 27,250 | 26,400 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 26,500 | 26,400 | 26,600 | + 100 | 26,250 | 25,500 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 27,500 | 27,400 | 27,700 | + 250 | 26,450 | 25,950 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 28,600 | 28,500 | 28,700 | + 650 | 27,200 | 26,550 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 27,500 | 27,250 | 27,750 | 0 | 27,500 | 27,500 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 28,000 | 28,000 | 28,000 | 0 | 27,250 | 26,750 | |
| TMT | Ex-Delhi/NCR | 12MM | 33,800 | 33,600 | 34,000 | 0 | 33,000 | 32,600 |
| Ex-Durgapur | 12MM | 31,000 | 30,800 | 31,200 | + 300 | 30,400 | 29,600 | |
| Ex-Raipur | 12MM | 30,200 | 30,000 | 30,400 | + 200 | 29,300 | 28,900 | |
| Ex-Mumbai | 12MM | 31,600 | 31,200 | 31,700 | + 500 | 30,300 | 29,900 | |
| Ex-Chennai | 12MM | 31,000 | 30,800 | 31,500 | 0 | 31,000 | 30,900 | |
| Ex-Hyderabad | 12MM | 31,000 | 30,800 | 31,000 | + 150 | 30,300 | 29,750 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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