Indian Semi-finished offers fluctuated by INR 100-300/MT D-o-D across major markets except in West India where prices remain rallied by INR 200-500/MT following strong demand, according to the trade participants.
SteelMint’s price assessments for induction furnaces billet size 125×125 mm are reported at INR 27,100-30,500/MT (USD 420-473) ex-plant.
Further the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 17,500-19,500/MT (USD 271-302); prices are ex-plant & excluding GST.
Today (Wednesday, November 29, 2017) INR to USD exchange rate stood at INR 64.38 & BSE Sensex closed at 33,602 (-15).
Key Market Updates:
1. Today, JSPL had offered 50,000 MT pellets export deal via online auction. The material is likely to be shipped for 10-20th Dec’17 laycan.
2. Pellet manufacturers in Durgapur have raised offers by INR 400/MT and that in central India by INR 300/MT; W-o-W.
3. Odisha Merchant Miners, Ahluwalia and Kaypee Enterprises have raised lump prices by INR 400/MT (USD 6) and fines prices by INR 200/MT (USD 3) with effect from today.
4. The integrated plants in Raipur, Central India today kept prices unaltered for Sponge P-DRI at INR 18,100-18,200/MT ex-plant.
5. Durgapur based Rashmi Metaliks has increase Sponge P-DRI prices by INR 100/MT to INR 17,800/MT, the trade participants reported.
6. Indian Sponge iron exports offers to Bangladesh increase sharply by USD 15-20/MT, W-o-W. The latest offers for FeM 80-82 lumps grade are assessed at USD 325-330/MT, CPT Benapole (land port of India & Bangladesh).
7. Few Raigarh based smelters buying 80 FeM C-DRI from Odisha at INR 18,700/MT FoR Raigarh. The local suppliers in Raigarh are offering same material at INR 18,700-18,800/MT ex-plant.
8. Odisha based medium size sponge manufacturers reported firm offers; FeM 80 C-DRI (70:30 mix material) at INR 18,000-18,200/MT ex-plant & excluding GST. Further, FeM 80 C-DRI lumps being offered at the price range of INR 20,200-20,400/MT FoR Jalna & excluding GST.
9. BMM Ispat in South India has kept offers unaltered, offering FeM 80 P-DRI lumps at INR 17,200/MT ex-Bellary, Karnataka.
10. BIOP in South India has offered FeM 80 & 82 C-DRI lumps at INR 17,600-17,700/MT & 18,000/MT ex-plant, Karnataka, an official reported. Also added buying interest from Jalna (Maharashtra) increased. freight to Jalna at INR 1,500-1,600/MT.
11. The Medium & small mills in Raipur have unaltered structure offers while in Mumbai the producers increase prices by INR 300-400/MT following surge in billet prices & improved demand.
Reference prices as on 29th November 2017
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 18800 | 18700 | 18900 | +100 | 17800 | 18000 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 18100 | 18000 | 18200 | + 100 | 17200 | 17000 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 19500 | 19400 | 19600 | 0 | 18300 | 18100 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 17500 | 17400 | 17600 | + 100 | 17100 | 17100 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 17700 | 17600 | 17800 | + 100 | 17400 | 17700 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 17800 | 17700 | 17900 | +100 | 16900 | 17100 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 18250 | 18200 | 18300 | +50 | 17150 | 16650 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 17200 | 17100 | 17200 | 0 | 16700 | 16900 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 17700 | 17600 | 17800 | +100 | 17400 | 17600 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 30500 | 30500 | 30600 | -100 | 29850 | 29400 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 28300 | 28200 | 28400 | +200 | 27300 | 27000 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 26600 | 26500 | 26700 | 0 | 26000 | 26000 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 27200 | 27200 | 27300 | -50 | 26700 | 26400 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 29600 | 29500 | 29700 | +300 | 27800 | 27400 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 28500 | 28300 | 28700 | +500 | 27500 | 27000 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 29000 | 29000 | 29200 | 0 | 28000 | 28000 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 31000 | 30900 | 31000 | -100 | 30300 | 29800 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 28700 | 28600 | 28800 | +200 | 27700 | 27300 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 27100 | 27000 | 27200 | + 100 | 26300 | 26500 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 27850 | 27800 | 28000 | +50 | 27100 | 27000 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 29800 | 29700 | 29800 | +300 | 28000 | 27700 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 29000 | 28800 | 29000 | +500 | 28000 | 27500 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 29000 | 29000 | 29200 | 0 | 28000 | 28000 | |
| TMT | Ex-Delhi/NCR | 12MM | 34000 | 33800 | 34200 | 0 | 33300 | 33000 |
| Ex-Durgapur | 12MM | 31300 | 31100 | 31500 | 0 | 30600 | 30300 | |
| Ex-Raipur | 12MM | 30700 | 30500 | 30900 | 0 | 29600 | 29700 | |
| Ex-Mumbai | 12MM | 32900 | 32500 | 33000 | +300 | 31400 | 31000 | |
| Ex-Chennai | 12MM | 32300 | 32300 | 33000 | +500 | 31500 | 31700 | |
| Ex-Hyderabad | 12MM | 32000 | 31800 | 32000 | 0 | 31000 | 30800 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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