Indian Billet & Sponge market observed price rise by INR 100-500/MT on improved inquiries. During the day, major price rise were seen in Raipur & Hyderabad by INR 300-500/MT with strong trade activities.
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 17,600-19,400/MT (USD 273-301); prices are ex-plant & excluding GST.
Today (Friday, December 8, 2017) INR to USD exchange rate stood at INR 64.45 & BSE Sensex closed at 33,250 (+301).
Key Market Updates:
1. Indian bulk pig iron exports increased about 350% in first eleven months of 2017 according to data maintained by SteelMint based on vessel line up. In CY17 till Nov-end, the exports were recorded at 530,000 MT as compared to 120,000 MT during same preceding CY16.
2. JSW Steel is offering Gas based DRI at INR 19,500-20,000/MT (USD 300-308) & Steel grade Pig iron at INR 24,000-25,000/MT (USD 370-385) ex-Dolvi, Maharashtra, the sources closed with the company reports.
3. Central India – Raigarh based Monnet Ispat sold Sponge C-DRI (50:50 mix material) to Nepal in current week at around INR 19,200/MT (USD 297-298). ex-plant, according to the officials.
4. Raipur, Central India based Integrated plants offers increased by INR 300/MT D-o-D, offering Sponge P-DRI at INR 18,500-18,700/MT ex-plant.
5. Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 18,500/MT & billet at INR 27,700/MT ex-plant.
6. BMM Ispat in South India (Karnataka) has reduced offers for FeM 80 P-DRI by INR 200-300/MT to INR 17,200/MT ex-Bellary, an official reported.
7. BIOP Steeels in Karnataka has offered FeM 80 & 82 C-DRI lumps at INR 18,300-400/MT & INR 18,700/MT ex-plant and the majorly deals are reported for Jalna (Maharashtra).
8. According to the trade participants, Gujarat – Ahmedabad purchased Ingot from Raipur and Jharsugda-Odisha sell billet to Jalna, Maharashtra. The freight charges via road to respected markets are assessed around INR 2,000/MT.
9. Mahavir Ferro Alloys based in Odisha has concluded a rake (around 2,700 MT) induction grade billet deal to Nepal at around USD 435/MT (ex-Mill), the officials reported.
10. Raipur based Inductions received offers for Pooled iron at INR 23,000/MT, Ferroshots at INR 24,000/MT & Pig iron (steel grade) at INR 25,000/MT, landed to plant (FOR) & excluding 18% GST.
11. The medium mills in Raipur & Mumbai today increase Rebar offers by INR 200-300/MT & Structure by INR 100-200/MT. According to the manufacturers there is no healthy stock with them as demand is good.
Reference prices as on 8th December 2017
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 19,400 | 19,300 | 19,500 | + 100 | 19,200 | 18,000 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 18,500 | 18,500 | 18,600 | 0 | 18,600 | 17,100 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 19,400 | 19,300 | 19,500 | + 100 | 20,100 | 17,600 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 17,650 | 17,600 | 17,700 | – 150 | 17,900 | 16,500 | |
| Ex-Durgapur | Lumps, FeM 78%, +/-1 | 18,400 | 18,300 | 18,500 | + 100 | 18,200 | 17,200 | |
| P-DRI | Ex-Jharsugda | Lumps, FeM 78%, +/-1 | 17,400 | 17,300 | 17,500 | 0 | NA | 15,800 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 18,500 | 18,500 | 18,600 | + 300 | 18,900 | 16,400 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 17,300 | 17,200 | 17,400 | – 100 | 17,500 | 16,300 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 17,900 | 17,800 | 18,000 | – 100 | 18,200 | 17,200 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 30,800 | 30,700 | 30,900 | – 100 | 31,100 | 29,700 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 28,700 | 28,600 | 28,800 | + 100 | 28,800 | 26,850 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 27,050 | 27,000 | 27,100 | 0 | 27,500 | 25,800 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 27,600 | 27,500 | 27,700 | + 400 | 28,000 | 25,900 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 30,300 | 30,200 | 30,300 | + 200 | 30,500 | 27,000 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 29,500 | 29,300 | 29,700 | 0 | 28,500 | 27,000 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 30,000 | 29,800 | 30,000 | + 500 | 30,250 | 27,250 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 31,300 | 31,200 | 31,600 | – 100 | 31,600 | 30,200 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 29,000 | 29,000 | 29,200 | 0 | 29,200 | 27,250 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 27,700 | 27,600 | 27,800 | + 100 | 28,000 | 26,250 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 28,500 | 28,400 | 28,700 | + 300 | 28,600 | 26,450 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 30,500 | 30,400 | 30,500 | + 200 | 30,700 | 27,200 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 30,000 | 29,500 | 30,000 | 0 | 29,000 | 27,500 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 30,000 | 29,800 | 30,000 | + 500 | 30,250 | 27,250 | |
| TMT | Ex-Delhi/NCR | 12MM | 34,200 | 34,000 | 34,400 | 0 | 34,500 | 33,000 |
| Ex-Durgapur | 12MM | 31,600 | 31,400 | 31,800 | + 200 | 31,700 | 30,400 | |
| Ex-Raipur | 12MM | 31,200 | 31,000 | 31,400 | + 300 | 31,700 | 29,300 | |
| Ex-Mumbai | 12MM | 33,600 | 33,200 | 33,700 | + 200 | 33,700 | 30,300 | |
| Ex-Chennai | 12MM | 33,300 | 33,300 | 33,500 | 0 | 32,700 | 31,000 | |
| Ex-Hyderabad | 12MM | 33,000 | 32,800 | 33,000 | + 500 | 33,200 | 30,300 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
Leave a Reply