Indian Semi finished offers witness sharp rise, Sponge upto INR 600/MT (USD 10) & BIllet upto INR 1,200/MT (USD 19), D-o-D. According to the market participants, demand remained strong with the price rise.
SteelMint’s price assessments for induction furnaces billet size 125×125 mm are reported at INR 30,000-33,500/MT (USD 469-523) ex-plant.
Further the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 19,200-21,600/MT (USD 300-338); prices are ex-plant & excluding GST.
Today (Friday, December 22, 2017) INR to USD exchange rate stood at INR 64.03 & BSE Sensex closed at 33,940 (+184).
Key Market Updates:
1. Today, Godawari Power & Ispat Limited in Central India has hiked pellet offers by Rs 200/MT (USD 3). The current offer for Fe 64/63% grade pellets are at INR 6,800/MT (basic) – sources.
2. Indian sponge iron (DRI) & BIllet prices have hit 40 months high on fresh deals.
3. Raipur, Central India based Integrated plants offers increased further by INR 400/MT D-o-D, offering Sponge P-DRI at INR 20,300-20,500/MT ex-plant
4. A day before, Monnet Ispat sold 700-800 ton P-DRI at INR 19,400/MT ex-plant, Raigarh, an official reported. And added, today sold 300 ton DR-CLO from its Raipur based plant at INR 22,200/MT on ex-plant basis; majorly deals concluded for Raipur & Raigarh market.
5. Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 20,000/MT & billet at INR 29,800-29,900/MT ex-plant.
6. Odisha based manufacturer, Ganesh Metaliks has sold out billet at INR 30,000/MT in the opening hours. Thus, the company has raise offers at INR 30,300/MT ex-plant; trade activities are good at these offers, an official reported.
7. BMM Ispat in South India (Karnataka) has increased offers for FeM 80 P-DRI by INR 200/MT to INR 18,600-18,800/MT ex-Bellary, an official reported.
8. Mumbai – Maharashtra based SRMM (Ghasiram) structure prices increase today by INR 700/MT and Guardian Thermex increase rebar offers by INR 700/MT, day on day.
9. According to market participants, the integrated plants in Raipur is not providing any trade discounts on wire rod which was earlier at around INR 500-700/MT. The basic prices also increase about INR 400-500/MT.
10. Vizag Steel (RINL) increase rebar & structure prices by INR 500/MT for North India – Ludhiana, recent released price circular by the company shows, w.e.f. 21st Dec’17.
11. India’s crude steel output stood at 8.35 MnT in Nov’17, plunged by 3.5% M-o-M against 8.63 MnT in Oct’17 – WSA
Reference prices as on 22nd December 2017
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 20,600 | 20,500 | 20,700 | + 500 | 20,000 | 18,200 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 20,000 | 19,900 | 20,100 | + 300 | 19,500 | 17,500 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 21,600 | 21,500 | 21,700 | + 600 | 20,500 | 18,800 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,200 | 19,100 | 19,300 | + 100 | 18,800 | 16,900 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 19,600 | 19,500 | 19,700 | + 500 | 19,000 | 17,100 |
| Ex-Jharsugda | Lumps, FeM 78%, +/-1 | 19,300 | 19,200 | 19,500 | + 200 | 18,400 | NA | |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 20,400 | 20,300 | 20,500 | + 400 | 19,550 | 17,700 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 18,600 | 18,500 | 18,700 | + 200 | 18,300 | 16,600 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 19,000 | 18,900 | 19,100 | 0 | 18,700 | 17,300 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 32,450 | 32,400 | 32,500 | + 450 | 31,700 | 30,200 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 30,200 | 30,100 | 30,300 | + 400 | 29,600 | 27,600 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 29,300 | 29,200 | 29,400 | + 600 | 28,200 | 26,200 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 30,600 | 30,500 | 30,700 | + 300 | 29,000 | 26,750 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 33,300 | 33,200 | 33,400 | + 900 | 31,900 | 28,600 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 31,600 | 31,500 | 31,700 | + 100 | 31,000 | 27,900 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 33,000 | 32,900 | 33,100 | + 250 | 31,500 | 28,000 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 33,000 | 32,900 | 33,100 | + 500 | 32,200 | 30,650 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 30,500 | 30,400 | 30,600 | + 400 | 29,900 | 28,000 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 30,000 | 29,900 | 30,100 | + 500 | 29,100 | 26,550 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 31,600 | 31,500 | 31,700 | + 400 | 29,900 | 27,250 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 33,500 | 33,400 | 33,600 | + 900 | 32,100 | 28,900 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 32,100 | 32,000 | 32,500 | + 100 | 31,500 | 28,400 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 33,000 | 32,900 | 33,100 | + 250 | 31,500 | 28,000 | |
| TMT | Ex-Delhi/NCR | 12MM | 36,500 | 36,400 | 37,000 | + 600 | 35,300 | 33,500 |
| Ex-Durgapur | 12MM | 33,100 | 32,900 | 33,300 | + 300 | 32,400 | 30,800 | |
| Ex-Raipur | 12MM | 34,500 | 34,300 | 34,700 | + 500 | 32,700 | 30,200 | |
| Ex-Mumbai | 12MM | 36,500 | 36,100 | 36,600 | + 700 | 35,100 | 31,900 | |
| Ex-Chennai | 12MM | 36,000 | 35,900 | 36,500 | + 500 | 35,000 | 31,800 | |
| Ex-Hyderabad | 12MM | 36,000 | 35,800 | 36,200 | + 250 | 34,500 | 31,000 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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