Today, Indian Billet & Sponge market reported mix trends as prices in South, West & Central India increase sharply by INR 200-500/MT, while in North & Eastern regions it decline by INR 100-300/MT.
SteelMint’s price assessments for induction furnaces billet size 125×125 mm are reported at INR 29,000-32,600/MT (USD 453-509) ex-plant.
Further the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 19,000-20,600/MT (USD 297-322); prices are ex-plant & excluding GST.
Today (Wednesday, December 20, 2017) INR to USD exchange rate stood at INR 64.09 & BSE Sensex closed at 33,777 (-59).
Key Market Updates:
1. Paradip Port Trust has invited bids for allotment of 05 manual iron ore/iron ore pellets plots through online. The reserve price for the plot has been fixed at Rs.1,312 per square meter per month.
2. Coal India Ltd (CIL) has imposed additional charge as evacuation charges of INR 50/MT on domestic coal, for all customers except those who are availing rapid loading facility.
3. Raipur, Central India based Integrated plants offers increased by INR 200/MT D-o-D, offering Sponge P-DRI at INR 19,600-19,700/MT ex-plant
4. Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 19,300-19,400/MT & billet at INR 29,000/MT ex-plant.
5. BIOP Steels in South India has offered FeM 80 & 82 C-DRI lumps at INR 19,100/MT & 19,500/MT ex-plant, Karnataka. trade activities are firm at these offers; an official reported.
6. SAIL has floated two export tenders for 13,500 MT billet each from Haldia and Vizag port. The material shipping is scheduled by Feb-end 2018.
7. Rashtriya Ispat Nigam Ltd (RINL) has concluded its 55,000 MT billet export tender at around USD 500/MT FOB India east coast.
8. An Western India – Gujarat based producer reported billet export deal (small qty) for far east at USD 510/MT, FoB India.
9. According to trade participants, Ahmedabad – Gujarat sourcing light structures & MS Ingot from Raipur due to cheaper landed cost around INR 1,000/MT as compared to local offers in Gujarat.
10. A closed source with JSW reported healthy bookings for Gas based DRI with JSW at the last offers of INR 19,500-20,000/MT. Thus, the company not willing to sell material at same prices and are expected fresh deals at close to INR 20,000-20,500/MT, ex-plant, Dolvi, Maharashtra.
Reference prices as on 20th December 2017
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 20,000 | 19,900 | 20,100 | – 100 | 19,600 | 17,800 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 19,400 | 19,300 | 19,500 | + 100 | 19,000 | 17,200 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 20,600 | 20,500 | 20,700 | 0 | 20,200 | 18,300 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,000 | 18,900 | 19,100 | 0 | 18,400 | 17,100 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 19,300 | 19,200 | 19,400 | 0 | NA | 17,400 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 19,000 | 18,900 | 19,100 | – 100 | 18,600 | 16,900 |
| Ex-Jharsugda | Lumps, FeM 78%, +/-1 | 18,500 | 18,400 | 18,500 | + 100 | 18,100 | 16,400 | |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 19,650 | 19,600 | 19,700 | + 150 | 19,300 | 17,150 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 18,400 | 18,300 | 18,500 | + 200 | 17,800 | 16,700 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 19,000 | 18,900 | 19,000 | + 200 | 18,200 | 17,400 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 31,550 | 31,500 | 31,600 | – 200 | 31,300 | 29,850 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 29,600 | 29,500 | 29,700 | – 100 | 29,100 | 27,300 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 28,200 | 28,200 | 28,300 | 0 | 27,700 | 26,000 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 29,500 | 29,400 | 29,600 | + 400 | 28,600 | 26,700 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 32,000 | 31,900 | 32,100 | + 300 | 31,600 | 27,800 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 31,300 | 31,000 | 31,500 | 0 | 30,500 | 27,500 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 32,000 | 31,800 | 32,000 | + 500 | 31,000 | 28,000 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 32,100 | 32,000 | 32,200 | – 200 | 31,800 | 30,300 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 29,900 | 29,800 | 30,000 | – 100 | 29,350 | 27,700 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 29,000 | 28,900 | 29,100 | 0 | 28,500 | 26,300 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 30,400 | 30,300 | 30,500 | + 350 | 29,500 | 27,100 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 32,200 | 32,100 | 32,300 | + 200 | 31,800 | 28,000 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 31,800 | 31,500 | 32,000 | 0 | 31,000 | 28,000 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 32,000 | 31,800 | 32,000 | + 500 | 31,000 | 28,000 | |
| TMT | Ex-Delhi/NCR | 12MM | 35,600 | 35,400 | 35,800 | 0 | 34,500 | 33,300 |
| Ex-Durgapur | 12MM | 32,600 | 32,400 | 32,800 | 0 | 32,000 | 30,600 | |
| Ex-Raipur | 12MM | 33,200 | 33,000 | 33,400 | + 500 | 32,200 | 29,600 | |
| Ex-Mumbai | 12MM | 35,500 | 35,100 | 35,600 | + 100 | 34,600 | 31,400 | |
| Ex-Chennai | 12MM | 35,000 | 34,800 | 35,500 | 0 | 34,500 | 31,500 | |
| Ex-Hyderabad | 12MM | 35,000 | 34,800 | 35,000 | + 500 | 34,000 | 31,000 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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