Today, Indian Sponge prices rise in the range of INR 100-300/MT & Billet by INR 200-500/MT, in major markets except in Ahmedabad Western region, where billet prices decline by INR 300-400/MT on weak trade activities.
SteelMint’s price assessments for induction furnaces billet size 125×125 mm are reported at INR 31,800-35,900/MT (USD 496-560) ex-plant. Further the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 20,700-21,900/MT (USD 323-342); prices are ex-plant & excluding GST.
On 14th Feb 2018 (Wednesday) INR to USD exchange rate stood at INR 64.11 & BSE Sensex closed at 34,155 (-144).
Key Market Updates:
1. In Jan’18, Met coke imports in India rise by 62.5% M-o-M & stood at around 0.39 MnT against 0.24 MnT in Dec’17.
2. Ankit Metals in Durgapur traded Pellets at INR 6,200/MT ex-plant.
3. Raipur, Central India based Integrated plants offers increased by INR 200/MT D-o-D, offering Sponge P-DRI at INR 20,100-20,200/MT ex-plant.
4. Odisha based a standalone sponge manufacturer concludes a rake Sponge C-DRI (70:30 mix) export deal to Nepal at USD 330/MT (ex-mill), officials from the company reported.
5. The big plants in Durgapur today increased sponge prices by INR 200-300/MT and offered P-DRI at around INR 20,800-20,900/MT.
6. BMM Ispat in South India (Karnataka) has increased offers for FeM 80 P-DRI by INR 100-200/MT to INR 20,100-20,200/MT ex-Bellary, an official reported.
7. Goa based Billet manufacturers have booked melting scrap (HMS 80:20) at USD 350/MT, CFR India from West Africa & arrival period would be approximate by March-end as per officials.
8. South India based Chennai manufacturer – Tulsyan NEC Steel (Tulsyan) has offered Rebar 12mm at INR 40,500/MT & Billet at INR 35,000/MT ex-plant & excluding GST
9. The medium steel plants in Ghaziabad have increased gauge parity of heavy structures (Beams & Channels) by INR 300/MT in almost all sizes.
10. Vizag Steel also known as RINL has further elongated their price level by around INR 1,000/MT in Rebars (size 8 mm) at INR 44,830/MT & Wire Rod (size 5.5 mm) increased around by INR 250-650/MT location wise and offering INR 45,050/MT (Ex-Vizag), w.e.f. 14.02.18, excluding GST.
11. Rathi Steels in North India – Delhi has unchanged their price today and current offers stood at INR 40,000/MT, size – 12 mm & excluding 18% GST.
Reference prices as on 14th February 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 21,850 | 21,800 | 21,900 | + 250 | 21,000 | 22,400 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 20,700 | 20,500 | 20,800 | + 100 | 20,000 | 21,300 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 21,400 | 21,300 | 21,500 | 0 | 20,500 | 22,300 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 20,900 | 20,800 | 21,000 | + 200 | 19,900 | 21,800 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 20,850 | 20,800 | 20,900 | + 250 | 20,000 | 21,300 |
| Ex-Jharsugda | Lumps, FeM 78%, +/-1 | 19,200 | 19,100 | 19,300 | – 200 | NA | 20,200 | |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 20,100 | 20,000 | 20,200 | + 100 | 19,100 | 21,100 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 20,000 | 19,900 | 20,100 | + 100 | 19,200 | 20,800 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 20,500 | 20,400 | 20,600 | + 100 | 19,600 | 21,200 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 35,100 | 35,000 | 35,200 | + 200 | 33,800 | 33,900 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 32,300 | 32,200 | 32,400 | + 300 | 31,000 | 32,100 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 31,200 | 31,100 | 31,300 | + 200 | 30,000 | 31,200 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 32,200 | 32,100 | 32,300 | + 200 | 30,750 | 32,000 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 34,900 | 34,800 | 35,000 | + 200 | 33,500 | 34,800 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 34,000 | 33,800 | 34,200 | 0 | 33,000 | 34,000 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 34,000 | 33,800 | 34,200 | 0 | 32,500 | 35,000 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 35,900 | 35,800 | 36,000 | + 200 | 34,300 | 34,800 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 32,800 | 32,700 | 32,900 | + 250 | 31,500 | 32,500 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 31,800 | 31,700 | 31,900 | + 200 | 30,500 | 31,800 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 33,000 | 32,800 | 33,000 | + 200 | 31,300 | 33,000 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 35,200 | 35,100 | 35,300 | + 300 | 33,700 | 35,000 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 34,500 | 34,300 | 34,700 | 0 | 33,500 | 34,500 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 34,000 | 33,800 | 34,200 | 0 | 32,500 | 35,000 | |
| TMT | Ex-Delhi/NCR | 12MM | 38,800 | 38,600 | 39,000 | 0 | 37,200 | 38,800 |
| Ex-Durgapur | 12MM | 36,900 | 36,700 | 37,100 | + 400 | 35,600 | 36,400 | |
| Ex-Raipur | 12MM | 36,600 | 36,400 | 36,800 | + 300 | 35,200 | 36,800 | |
| Ex-Mumbai | 12MM | 39,300 | 38,900 | 39,400 | + 200 | 38,500 | 39,300 | |
| Ex-Chennai | 12MM | 38,700 | 38,500 | 39,000 | 0 | 38,200 | 38,500 | |
| Ex-Hyderabad | 12MM | 38,700 | 38,500 | 38,900 | 0 | 36,700 | 38,200 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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