Indian Semi finished market remain fluctuates today, Billet by INR 300-500/MT & Sponge by INR 100-300/MT. During the day trade activities reported mix trends in the major markets.
SteelMint’s price assessments for induction furnaces billet size 125×125 mm are reported at INR 27,700-30,800/MT (USD 430-478) ex-plant.
Further the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 17,900-19,500/MT (USD 278-302); prices are ex-plant & excluding GST.
Today (Wednesday, December 6, 2017) INR to USD exchange rate stood at INR 64.51 & BSE Sensex closed at 32,597 (-205).
Key Market Updates:
1. Jindal SAW (Rajasthan) increased pellet offers by INR 300/MT. Offers for Fe 63% grade pellets are assessed around INR 6,700/MT (delivered Kandla) against last assessment of INR 6,400/MT.
2. Coking coal (Premium HCC, Australia) prices rise continuously over limited availability of stock and assessed at USD 233.15/MT on CFR India basis.
3. Indian Pig iron exports offer up in line with global scrap prices. Steel grade at around USD 345-350/MT FoB India.
4. National Mineral Development Corporation (NMDC) has increased the iron ore base prices for Karnataka e-auctions to be held in Dec’17. The company has increased the prices by about INR 300/MT on monthly basis.
5. Indian manufacturers have raised their re-bar export offers this week based on increase in ferrous scrap and billet prices in global market. SteelMint learned, re-bar export prices to be in the range of USD 520-530/MT FOB by large mills on actual weight basis for bulk shipments.
6. Indian Ferrous Scrap imports rise 46% Y-o-Y in Q3 CY17. India imported 1.36 MnT ferrous scrap in Q3 CY17 against 0.93 MnT in Q3 CY16.
7. Induction grade billet exports offers for Nepal are assessed at USD 450-455/MT ex-mill, Durgapur. According to trade participants, small lots of billet concluded during last week at USD 450-452/MT (ex-mill).
8. Raipur – Central India based Integrated plants today reduced sponge offers by INR 200/MT with current offers for P-DRI at INR 18,100-18,200/MT ex-plant.
9. Indian state owned mill, Vizag steel, sold 15,000 MT billets of size 90mm and 4SP grade at USD 465/MT FOB India
10. A day before, Few Raigarh based smelters purchased 80 FeM C-DRI lumps from Odisha at INR 19,300-19,500/MT FoR Raigarh
11. Indian manufacturers have raised their re-bar export offer and assessed in the range of USD 520-530/MT FOB
12. Medium mills in Raipur & Mumbai today reduced rebar & structure offers by INR 200/MT owing to decline in billet prices & limited inquiries.
Reference prices as on 6th 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 | 0 | 18,800 | 18,100 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 18,600 | 18,500 | 18,600 | – 200 | 18,100 | 17,200 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 19,500 | 19,400 | 19,600 | – 200 | 19,500 | 17,700 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 17,900 | 17,800 | 18,000 | 0 | 17,500 | 16,800 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 18,100 | 18,000 | 18,100 | 0 | 17,700 | 17,400 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 18,450 | 18,400 | 18,500 | 0 | 17,800 | 17,300 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 18,200 | 18,100 | 18,200 | – 250 | 18,200 | 16,300 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 17,500 | 17,400 | 17,500 | 0 | 17,200 | 16,500 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 18,000 | 17,900 | 18,000 | – 100 | 17,700 | 17,400 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 31,000 | 30,900 | 31,100 | – 350 | 30,500 | 29,700 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 28,800 | 28,700 | 28,900 | – 200 | 28,300 | 27,000 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 27,100 | 27,100 | 27,200 | – 200 | 26,600 | 26,000 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 27,300 | 27,200 | 27,400 | – 200 | 27,200 | 26,100 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 29,800 | 29,700 | 29,900 | + 200 | 29,600 | 26,500 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 29,500 | 29,300 | 29,500 | + 500 | 28,500 | 27,000 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 29,750 | 29,500 | 30,000 | – 250 | 29,000 | 27,500 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 31,500 | 31,400 | 31,500 | – 300 | 31,000 | 30,200 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 29,200 | 29,100 | 29,200 | – 200 | 28,700 | 27,450 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 27,700 | 27,600 | 27,800 | – 300 | 27,100 | 26,300 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 28,200 | 28,100 | 28,300 | – 300 | 27,850 | 26,600 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 30,000 | 29,900 | 30,000 | + 200 | 29,800 | 26,700 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 30,000 | 29,500 | 30,000 | + 500 | 29,000 | 27,500 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 29,750 | 29,500 | 30,000 | – 250 | 29,000 | 27,500 | |
| TMT | Ex-Delhi/NCR | 12MM | 34,700 | 34,500 | 34,900 | 0 | 34,000 | 33,000 |
| Ex-Durgapur | 12MM | 31,600 | 31,400 | 31,800 | – 200 | 31,300 | 30,700 | |
| Ex-Raipur | 12MM | 31,000 | 30,800 | 31,200 | – 200 | 30,700 | 29,500 | |
| Ex-Mumbai | 12MM | 33,400 | 33,000 | 33,500 | – 100 | 32,900 | 30,100 | |
| Ex-Chennai | 12MM | 33,000 | 32,800 | 33,500 | 0 | 32,300 | 31,300 | |
| Ex-Hyderabad | 12MM | 32,700 | 32,500 | 32,800 | – 100 | 32,000 | 30,500 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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