In the week opening, domestic Sponge iron & Billet market reported price corrections of INR 100-300/MT D-o-D due to limited trade activities.
SteelMint’s price assessments for induction furnaces billet size 125×125 mm are reported at INR 26,400-29,000/MT (USD 406-446) ex-plant. Further the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 17,300-18,600/MT (USD 266-286); prices are ex-plant & excluding GST.
Today (Monday, November 20, 2017) INR to USD exchange rate stood at INR 65.09 & BSE Sensex closed at 33,359 (+17).
Key Market Updates:
1. According to the report provided by Ministry of Coal, CIL has achieved the highest coal dispatch to power plants in the month of October FY18, with an increase of 18% Y-o-Y.
2. NMDC, Chhattisgarh has kept Iron ore prices unchanged for Nov’17 deliveries and is going to conduct an e-auction of 56,000 MT Iron Ore from Chhattisgarh Mines
3. Central India based Integrated plants have reduced Sponge offers by INR 100/MT D-o-D. Offering Sponge P-DRI at INR 17,300-17,400/MT & Sponge DR-CLO at INR 19,200-19,400/MT, both prices are ex-plant & excluding GST.
4. Rashmi Metaliks in Durgapur has offers P-DRI at INR 17,100/MT & C-DRI at INR 17,900-18,000/MT; offers are unaltered against on 18th Nov, source reported.
5. BIOP Steels in South India has offered FeM 80 C-DRI lumps at INR 17,400-500/MT & FeM 82 at INR 17,800/MT ex-plant, Karnataka.
6. BMM Ispat in Karnataka has offered sponge P-DRI at INR 16,900-17,000/MT and Sunvik Steels sponge C-DRI lumps at INR 17,600/MT. Both offers for FeM 80, excluding GST & ex-plant basis.
7. Odisha based manufacturers reported, Billet offered at INR 26,500/MT ex-plant. And added trade activities are firm at these offers. As of now no major export orders from Nepal and the last trade was at around USD 408-410/MT (ex-mill) Rourkela.
8. Hyderabad based furnace owners kept billet offer unaltered, offering Billet at INR 28,500/MT ex-plant. While no major trade activities seen in Sponge Iron market, an official reported.
9. Durgapur based Silico Manganese producers have significantly rise their offers on limited supply coupled with healthy overseas demand. The latest offers are assessed at INR 64,500/MT with rise of INR 1,250/MT, W-o-W.
10. The medium & small mills in Raipur, Central India today have reduced Rebar, Wire rod & Structure offers by INR 200-300/MT due to limited inquiries.
11. Gujarat based Akshar TMT & Diamond TMT have kept rebar offers unaltered for the day. The fresh offers are reported at INR 37,800-38,000/MT FOR & including GST at 18%, Size – 20 mm.
12. Rathi Steels, one of the big manufacturer for rebars in North India – Delhi has reduced offers by INR 200/MT to INR 34,200/MT, 12 mm & excluding GST @ 18%.
Reference prices as on 20th November 2017
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 17,950 | 17,900 | 18,000 | – 150 | 17,900 | 17,000 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 17,400 | 17,300 | 17,500 | 0 | 17,000 | 16,000 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 18,600 | 18,500 | 18,700 | – 100 | 17,900 | 17,100 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 17,300 | 17,200 | 17,400 | 0 | 16,600 | 16,800 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 17,500 | 17,500 | 17,600 | NA | 17,100 | 17,000 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 17,100 | 17,000 | 17,200 | – 100 | 17,100 | 16,300 |
| Ex-Jharsugda | Lumps, FeM 78%, +/-1 | 16,300 | 16,300 | 16,400 | 0 | 15,700 | NA | |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 17,350 | 17,300 | 17,400 | – 50 | 16,600 | 15,800 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 17,000 | 16,900 | 17,100 | 0 | 16,400 | 16,600 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 17,500 | 17,500 | 17,600 | NA | 17,100 | 17,000 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 29,750 | 29,750 | 29,800 | – 200 | 29,500 | 28,150 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 27,450 | 27,400 | 27,500 | – 100 | 26,800 | 26,000 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 26,100 | 26,000 | 26,100 | – 100 | 25,800 | 25,100 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 26,550 | 26,500 | 26,600 | – 300 | 26,500 | 25,500 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 28,200 | 28,100 | 28,300 | – 300 | 27,300 | 26,300 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 27,250 | 27,000 | 27,500 | 0 | 27,000 | 27,250 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 28,500 | 28,300 | 28,500 | 0 | 27,500 | 27,100 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 30,200 | 30,100 | 30,300 | – 300 | 29,900 | 28,500 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 27,800 | 27,700 | 27,800 | – 100 | 27,200 | 26,400 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 26,400 | 26,300 | 26,500 | – 100 | 26,150 | 25,500 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 27,100 | 27,000 | 27,200 | – 250 | 26,700 | 26,100 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 28,400 | 28,300 | 28,400 | – 300 | 27,550 | 26,500 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 27,900 | 27,800 | 28,000 | + 100 | 27,500 | 27,750 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 28,500 | 28,300 | 28,500 | 0 | 27,500 | 27,100 | |
| TMT | Ex-Delhi/NCR | 12MM | 33,500 | 33,300 | 33,700 | – 200 | 33,300 | 32,500 |
| Ex-Durgapur | 12MM | 30,800 | 30,600 | 31,000 | – 200 | 30,500 | 29,500 | |
| Ex-Raipur | 12MM | 30,000 | 29,800 | 30,200 | – 400 | 29,400 | 28,800 | |
| Ex-Mumbai | 12MM | 31,800 | 31,600 | 31,900 | 0 | 30,700 | 29,900 | |
| Ex-Chennai | 12MM | 31,300 | 31,100 | 31,500 | 0 | 31,000 | 31,500 | |
| Ex-Hyderabad | 12MM | 31,400 | 31,300 | 31,500 | 0 | 30,500 | 30,100 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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