Today, Indian Billet & Sponge market observed price fluctuation of INR 100-500/MT on mix trade activities.
According to the market participants, inquiries have slowdown in current week for both rebar & billets and buyers in wait and watch mode to take positions.
SteelMint’s price assessments for induction furnaces billet size 125×125 mm are reported at INR 28,000-30,700/MT (USD 435-477) ex-plant. Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 17,900-19,700/MT (USD 278-306); prices are ex-plant & excluding GST.
Today (Tuesday, December 5, 2017) INR to USD exchange rate stood at INR 64.40 & BSE Sensex closed at 32,802 (-67).
Key Market Updates:
1. As per the sources, Odisha State Government renews Serajuddin mines lease till 2020.
2. Rashtriya Ispat Nigam Limited (RINL), also known as Vizag Steel had issued a tender for export of 15,000 MT billet (90*90mm, 12 metres in length) for material delivery scheduled up to 31 Dec’17.
3. India’s largest merchant steel grade Pig iron manufacturer, Neelachal Ispat (NINL) offers small quantity of pig iron at around INR 23,800/MT ex plant, Odisha. Plant is closed due to maintenance.
4. Raipur, Central India based Integrated plants offers reduced by INR 300/MT D-o-D, offering Sponge P-DRI at INR 18,400-18,500/MT ex-plant
5. BMM Ispat in South India has kept offers unaltered, offering FeM 80 P-DRI lumps at INR 17,500/MT ex-Bellary, Karnataka.
6. Vizag Steel also known as Rashtriya Ispat Nigam Ltd (RINL) has rolled over steel grade pig iron prices for Dec’17 deliveries. The latest offers are reported at INR 24,300/MT (ex-plant) and bulk purchase discount extra.
7. According to traders in Ludhiana-North India, they have booked 4 rakes of steel grade pig iron (8,000 MT) of Neelachal Ispat (NINL) in recent price circular of INR 23,800/MT ex-plant, Odisha.
8. SAIL’s IISCO deal for a rake steel grade pig iron is under negotiation with Howrah based manufacturers at around INR 24,000/MT ex-plant & excluding GST.
9. Indian Silico Manganese prices witnessed an upswing aided by rising demand coupled with limited supply.Current offers are assessed at INR 65,000/MT ex-Raipur. Export offers are assessed at USD 1000/MT FOB India for 60-14 grade.
10. Melting scrap offers in India rise by INR 1,000-1,500/MT in last couple of weeks owing to rise in domestic semi-finished & global scrap offers.
11. Prakash Ferrous Industries Pvt. Ltd (Tirumala) based in Chennai has offered Rebar 12mm at INR 33,500/MT ex-plant & excluding GST
12. Gujarat based Akshar TMT has reduced rebar offers by INR 200/MT D-o-D & fresh offers are reported at INR 40,000/MT FOR & including GST at 18%, Size – 20 mm.
13. Kalika Steel Alloys in Jalna has reduced rebar offers by INR 200/MT & offered 28mm rebars at INR 30,800/MT ex-plant & excluding GST.
14. Medium & small mills in Raipur & Mumbai today reduced rebar & structure prices by INR 200-400/MT on low inquiries.
Reference prices as on 5th December 2017
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 19,450 | 19,400 | 19,500 | + 250 | 18,700 | 18,000 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 18,800 | 18,700 | 18,800 | + 100 | 18,000 | 17,150 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 19,700 | 19,600 | 19,800 | – 400 | 19,500 | 17,800 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 17,900 | 17,800 | 18,000 | 0 | 17,400 | 17,000 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 18,100 | 18,000 | 18,100 | 0 | 17,600 | 17,500 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 18,450 | 18,400 | 18,500 | + 250 | 17,700 | 17,200 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 18,450 | 18,400 | 18,500 | – 300 | 18,200 | 16,400 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 17,500 | 17,400 | 17,600 | 0 | 17,200 | 16,800 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 18,100 | 18,000 | 18,100 | 0 | 17,600 | 17,500 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 31,350 | 31,300 | 31,400 | + 150 | 30,600 | 29,500 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 29,000 | 28,900 | 29,100 | + 300 | 28,100 | 26,950 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 27,300 | 27,200 | 27,400 | – 100 | 26,600 | 26,000 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 27,500 | 27,400 | 27,600 | – 100 | 27,250 | 26,200 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 29,600 | 29,500 | 29,700 | – 400 | 29,300 | 26,600 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 29,000 | 29,000 | 29,500 | + 500 | 28,000 | 27,000 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 30,000 | 29,800 | 30,000 | – 200 | 29,000 | 28,000 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 31,800 | 31,700 | 31,900 | + 100 | 31,100 | 30,000 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 29,400 | 29,400 | 29,600 | + 300 | 28,500 | 27,400 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 28,000 | 27,900 | 28,000 | 0 | 27,000 | 26,350 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 28,500 | 28,500 | 28,600 | – 50 | 27,800 | 26,700 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 29,800 | 29,700 | 29,900 | – 400 | 29,500 | 26,800 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 29,500 | 29,500 | 30,000 | + 500 | 28,500 | 27,500 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 30,000 | 29,800 | 30,000 | – 200 | 29,000 | 28,000 | |
| TMT | Ex-Delhi/NCR | 12MM | 34,700 | 34,500 | 34,900 | 0 | 34,000 | 33,000 |
| Ex-Durgapur | 12MM | 31,800 | 31,600 | 32,000 | + 100 | 31,300 | 30,500 | |
| Ex-Raipur | 12MM | 31,200 | 31,000 | 31,400 | – 300 | 30,700 | 29,600 | |
| Ex-Mumbai | 12MM | 33,500 | 33,100 | 33,600 | – 400 | 32,600 | 30,100 | |
| Ex-Chennai | 12MM | 33,000 | 32,800 | 33,500 | + 200 | 31,800 | 31,300 | |
| Ex-Hyderabad | 12MM | 32,800 | 32,700 | 32,900 | – 300 | 32,000 | 30,800 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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