Today, Indian Semi-finished steel offers rise further over positive sentiments, Sponge iron offers up by INR 100-300/MT & Billet rise upto INR 500/MT D-o-D.
SteelMint’s price assessments for induction furnaces billet size 125×125 mm are reported at INR 26,500-29,700/MT (USD 410-460) ex-plant.
Further the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 16,900-18,800/MT (USD 262-291); prices are ex-plant & excluding GST.
Today (Friday, November 24, 2017) INR to USD exchange rate stood at INR 64.67 & BSE Sensex closed at 33,679 (+91).
Key Market Updates:
1. NMDC conducted auction for 56,000 MT iron ore yesterday from its Kirandul and Bacheli mines in Chhattisgarh for non-MoU customers & the DR-CLO offered in e-auction fetched a premium of around INR 580/MT, as per sources.
2. Indian pellet export prices have shown marginal decline this week amid decline in spot pellet premiums. Currently, Indian pellet export prices are assessed at USD 118-120/MT, CFR China
3. Iron ore export movement from Goa has been impacted by the truck operators demanding hike in transportation fare.
4. MSTC Limited, on behalf of Indian Oil Corporation Limited (IOCL), will conduct an E-auction for selling 90,000 MT of Petcoke from the Paradip refinery of IOCL.
5. Central India based Integrated plants have increased Sponge P-DRI offers by INR 300-400/MT to INR 17,600-17,800/MT. Sponge DR-CLO grade offers also up by INR 200/MT to INR 19,500-19,700/MT. Both prices ex-plant & excluding GST.
6. A day before, Jalna (Maharashtra) purchased C-DRI lumps FeM 80% from Rourkela at INR 19,400-19,500/MT FoR Jalna; freight to Jalna at INR 1,800-2,000/MT, the trade participants reported.
7. BMM Ispat in South India (Karnataka) has reduced offers for FeM 80 P-DRI by INR 300/MT to INR 16,500-16,600/MT ex-Bellary, an official reported.
8. Prakash Ferrous Industries Pvt. Ltd (Tirumala) based in Chennai has offered Rebar 12mm at INR 32,500/MT & Billet – INR 28500/MT ex-plant & excluding GST.
9. Gujarat based Akshar TMT has increased offers with INR 500/MT & The fresh offers are reported at INR 38,500/MT FOR & including GST at 18%, Size – 20 mm.
10. Medium & Small scale industries in Mumbai ( Maharashtra) today have increased structure offers by INR 400/MT due to rise in Semi finished offers.
Reference prices as on 24th November 2017
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 18,200 | 18,100 | 18,300 | + 100 | 18,100 | 17,300 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 17,500 | 17,400 | 17,600 | 0 | 17,300 | 16,150 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 18,800 | 18,700 | 18,900 | + 300 | 18,800 | 17,500 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 16,900 | 16,800 | 17,000 | 0 | 17,300 | 16,800 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 17,300 | 17,200 | 17,400 | 0 | NA | 17,000 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 17,100 | 17,000 | 17,200 | + 100 | 17,200 | 16,500 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 17,700 | 17,600 | 17,800 | + 350 | 17,500 | 16,100 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 16,600 | 16,500 | 16,700 | 0 | 17,000 | 16,600 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 17,300 | 17,200 | 17,400 | 0 | NA | 17,000 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 30,200 | 30,100 | 30,300 | + 100 | 30,000 | 28,650 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 27,600 | 27,500 | 27,700 | + 100 | 27,550 | 26,500 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 26,200 | 26,100 | 26,300 | + 100 | 26,200 | 25,200 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 26,750 | 26,700 | 26,800 | + 200 | 27,000 | 26,000 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 28,600 | 28,500 | 28,700 | + 200 | 28,400 | 27,100 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 27,900 | 27,800 | 28,000 | + 200 | 27,000 | 27,000 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 28,000 | 28,000 | 28,200 | 0 | 28,000 | 27,000 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 30,650 | 30,600 | 30,700 | + 100 | 30,500 | 29,200 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 28,000 | 27,900 | 28,100 | + 200 | 27,850 | 26,900 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 26,550 | 26,500 | 26,600 | + 50 | 26,500 | 25,600 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 27,250 | 27,200 | 27,300 | + 250 | 27,500 | 26,500 | |
| Ex-Jalna | 125×125 mm, IS 2831 | 28,500 | 28,400 | 28,500 | + 500 | 27,800 | 27,000 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 28,900 | 28,800 | 28,900 | + 300 | 28,600 | 27,300 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 28,400 | 28,300 | 28,500 | + 200 | 27,500 | 27,500 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 28,000 | 28,000 | 28,200 | 0 | 28,000 | 27,000 | |
| TMT | Ex-Delhi/NCR | 12MM | 33,500 | 33,300 | 33,700 | + 200 | 33,800 | NA |
| Ex-Durgapur | 12MM | 30,800 | 30,700 | 30,900 | + 200 | 31,000 | 29,800 | |
| Ex-Raipur | 12MM | 30,200 | 30,000 | 30,400 | + 400 | 30,200 | 29,200 | |
| Ex-Mumbai | 12MM | 31,900 | 31,500 | 32,000 | + 300 | 31,600 | 30,600 | |
| Ex-Chennai | 12MM | 31,800 | 31,700 | 32,000 | + 100 | 31,000 | 31,700 | |
| Ex-Hyderabad | 12MM | 31,000 | 31,000 | 31,200 | 0 | 31,000 | 29,800 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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