Today, Indian Billet & Sponge market observed price rise of INR 100-500/MT and the major rise seen in Odisha, Rourkela where offers for both the products increase about INR 300-500/MT (USD 5-8).
SteelMint’s price assessments for induction furnaces billet size 125×125 mm are reported at INR 28,200-31,600/MT (USD 437-490) ex-plant. Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 18,000-20,000/MT (USD 279-310); prices are ex-plant & excluding GST.
Today (Tuesday, December 12, 2017) INR to USD exchange rate stood at INR 64.50 & BSE Sensex closed at 33,227 (-227).
Key Market Updates:
1. Rashtriya Ispat Nigam Limited (RINL), also known as Vizag Steel is a navratna PSE under the ministry of steel has invited a tender for purchase of 100,000 MT iron ore fines from the indigenous source.
2. JSW Steel’s iron ore purchases from Karnataka e-auctions stood at 1.73 MnT in Nov’17 up 18% M-o-M compared to 1.46 MnT in Oct’17.
3. India’s crude steel production reported decline of 4% in Nov’17. The nation has produced about 8.305 MnT in Nov’17 in contrast to 8.65 MnT in Oct’17.
4. Raipur, Central India based Integrated plants offer increased by INR 200/MT D-o-D, offering Sponge P-DRI at INR 18,900-19,000/MT ex-plant
5. Indian Sponge iron export offers to Bangladesh remain firm and are reported for coal based Sponge iron lumps of grade 82 FeM at around USD 345-350/MT CFR Chittagong.
6. Durgapur based big manufacturers namely Rashmi Metaliks and Shyam Sel have increased sponge offers around INR 200/MT to INR 18,300-18,400/MT for P-DRI, Sources.
7. Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 18,500/MT & billet at INR 28,200/MT ex-plant.
8. BMM Ispat in South India (Karnataka) has increased offers for FeM 80 P-DRI by INR 200-300/MT to INR 17,700/MT ex-Bellary.
9. BIOP Steels in South India has offered FeM 80 & 82 C-DRI lumps at INR 18,500/MT & 18,900/MT ex-plant, Karnataka. According to the officials, deals are majorly for Jalna (Maharashtra) market. Similarly, Sunvik Steels in same place has also increased sponge prices by INR 300/MT to INR 18,800/MT for 80 FeM C-DRI.
10. About 15,000 MT billet export deal concluded by a West India based manufacturer to Philippines at around USD 495/MT, FoB India. The shipment of material will be in the 1st week of Jan’18, the officials reported.
11. Durgapur based medium mills heard to concludes Wire rod export deals to Nepal at USD 512-514/MT (ex-Mill).
12. Indian Rebar export offers by Medium mills based in West & South regions are reported at USD 550-560/MT FoB India.
13. Guardian Thermex in Mumbai (Maharasthra) an rebar price setter has increased offers today by INR 400/MT to INR 34,100/MT (12 mm) ex-plant & excluding 18% GST.
Reference prices as on 12th December 2017
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 19,300 | 19,200 | 19,400 | + 100 | 19,450 | 17,900 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 18,700 | 18,600 | 18,700 | + 300 | 18,800 | 17,100 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 20,000 | 19,900 | 20,100 | + 100 | 19,700 | 18,100 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 18,000 | 18,000 | 18,100 | + 200 | 17,900 | 16,800 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 18,300 | 18,200 | 18,400 | + 100 | 18,450 | 17,100 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 18,900 | 18,800 | 19,000 | + 100 | 18,450 | 16,900 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 17,600 | 17,500 | 17,700 | + 200 | 17,500 | 16,500 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 18,000 | 17,900 | 18,100 | + 100 | 18,100 | 17,100 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 31,000 | 30,900 | 31,100 | + 400 | 31,350 | 29,500 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 28,700 | 28,700 | 28,800 | + 100 | 29,000 | 27,000 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 27,400 | 27,300 | 27,500 | + 400 | 27,300 | 25,800 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 28,100 | 28,000 | 28,200 | + 100 | 27,500 | 26,500 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 30,600 | 30,500 | 30,700 | + 300 | 29,600 | 27,300 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 30,000 | 29,800 | 30,000 | + 200 | 29,000 | 27,000 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 30,300 | 30,000 | 30,500 | 0 | 30,000 | 27,750 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 31,500 | 31,400 | 31,600 | + 400 | 31,800 | 30,000 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 29,000 | 29,000 | 29,100 | + 100 | 29,400 | 27,300 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 28,200 | 28,100 | 28,300 | + 500 | 28,000 | 26,100 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 29,100 | 29,000 | 29,200 | + 200 | 28,500 | 27,000 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 30,800 | 30,700 | 30,900 | + 300 | 29,800 | 27,550 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 30,500 | 30,300 | 30,500 | + 200 | 29,500 | 27,500 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 30,300 | 30,000 | 30,500 | 0 | 30,000 | 27,750 | |
| TMT | Ex-Delhi/NCR | 12MM | 34,300 | 34,100 | 34,500 | + 200 | 34,700 | 33,600 |
| Ex-Durgapur | 12MM | 31,800 | 31,600 | 32,000 | + 200 | 31,800 | 30,600 | |
| Ex-Raipur | 12MM | 31,700 | 31,500 | 31,900 | + 200 | 31,200 | 29,700 | |
| Ex-Mumbai | 12MM | 34,100 | 33,700 | 34,200 | + 400 | 33,500 | 30,800 | |
| Ex-Chennai | 12MM | 34,000 | 33,800 | 34,200 | + 200 | 33,000 | 31,000 | |
| Ex-Hyderabad | 12MM | 33,300 | 33,100 | 33,500 | 0 | 32,800 | 30,500 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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