Today, domestic Semi-finished offers rise further over short supply amid positive sentiment, Sponge iron by INR 100-400/MT & Billet by INR 200-500/MT. The major price rise have seen in East & South India by INR 300-500/MT.
SteelMint’s price assessments for induction furnaces billet size 125×125 mm are reported at INR 26,800-29,900/MT (USD 415-464) ex-plant.
Further the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 17,300-19,600/MT (USD 268-304); prices are ex-plant & excluding GST.
Today (Monday, November 27, 2017) INR to USD exchange rate stood at INR 64.50 & BSE Sensex closed at 33,724 (+45).
Key Market Updates:
1. Rashtriya Ispat Nigam Limited (RINL), has concluded export tender of 25,000 MT basic grade Pig Iron which due date was on 21 Nov’17. As per market sources, the steel maker has concluded the tender at around USD 335-340/MT, FoB India.
2. Indian sponge iron export offers to Bangladesh remain unchanged with limited trade activities. The latest offers are assessed at USD 315/MT CPT Benapole & USD 325-330/MT CFR Bangladesh.
3. Raipur, Central India based Integrated plants have increased sponge offers by INR 100/MT D-o-D, offering P-DRI at INR 18,200/MT ex-plant
4. Odisha based medium size sponge manufacturers have raised offers by INR 300/MT; FeM 80 C-DRI (70:30 mix material) at INR 17,800-18,000/MT ex-plant.
5. BMM Ispat in South India (Karnataka) has increased offers for FeM 80 P-DRI by INR 400/MT to INR 17,200/MT ex-Bellary, an official reported.
6. BIOP Steel in South India has offered FeM 80 & 82 C-DRI lumps at INR 17,500/MT & 17,800/MT ex-plant, Karnataka.
7. Delhi Metro Rail Corporation (DMRC) Ltd invites global tender for purchase of 6,350 MT Head Hardened Rails.
8. Steel grade Pig iron offers in Eastern India rise owing to hike in billet offers. The latest offers in Durgapur are reported at INR 24,000-24,200/MT against last week at INR 23,600-23,800/MT, excluding GST.
9. Raipur – Central India based medium & small mills today have increased rebar & structure offers by INR 200/MT.
Reference prices as on 27th November 2017
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 18,450 | 18,400 | 18,500 | + 250 | 17,950 | 17,900 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 17,900 | 17,800 | 18,000 | + 300 | 17,400 | 16,650 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 19,600 | 19,500 | 19,700 | + 300 | 18,600 | 18,000 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 17,300 | 17,300 | 17,400 | + 300 | 17,300 | 17,000 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 17,500 | 17,400 | 17,600 | + 100 | 17,500 | 17,400 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 17,400 | 17,300 | 17,500 | + 300 | 17,100 | 17,100 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 18,200 | 18,100 | 18,300 | + 100 | 17,350 | 16,550 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 17,200 | 17,100 | 17,200 | + 400 | 17,000 | 16,800 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 17,550 | 17,500 | 17,600 | + 150 | 17,500 | 17,400 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 30,550 | 30,500 | 30,600 | + 450 | 29,750 | 28,950 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 27,850 | 27,800 | 27,900 | + 250 | 27,450 | 26,950 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 26,550 | 26,500 | 26,600 | + 350 | 26,100 | 25,650 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 27,150 | 27,100 | 27,200 | + 150 | 26,550 | 26,400 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 28,800 | 28,700 | 28,900 | 0 | 28,200 | 27,350 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 28,000 | 27,800 | 28,200 | 0 | 27,250 | 27,000 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 29,000 | 29,000 | 29,000 | + 500 | 28,500 | 27,250 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 31,000 | 30,900 | 31,100 | + 400 | 30,200 | 29,400 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 28,250 | 28,200 | 28,300 | + 250 | 27,800 | 27,400 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 26,900 | 26,800 | 27,000 | + 300 | 26,400 | 26,000 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 27,600 | 27,500 | 27,700 | + 200 | 27,100 | 26,800 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 29,000 | 29,000 | 29,100 | 0 | 28,400 | 27,600 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 28,500 | 28,400 | 28,600 | 0 | 27,900 | 27,500 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 29,000 | 29,000 | 29,000 | + 500 | 28,500 | 27,250 | |
| TMT | Ex-Delhi/NCR | 12MM | 34,000 | 33,800 | 34,200 | + 500 | 33,500 | 33,700 |
| Ex-Durgapur | 12MM | 31,000 | 30,800 | 31,200 | + 200 | 30,800 | 30,300 | |
| Ex-Raipur | 12MM | 30,400 | 30,200 | 30,600 | + 100 | 30,000 | 29,700 | |
| Ex-Mumbai | 12MM | 32,100 | 31,700 | 32,200 | 0 | 31,800 | 30,800 | |
| Ex-Chennai | 12MM | 31,800 | 31,700 | 32,100 | 0 | 31,300 | 31,700 | |
| Ex-Hyderabad | 12MM | 31,800 | 31,500 | 32,000 | + 550 | 31,400 | 30,100 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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