Indian billet and sponge market observed slight price rise of INR 100-200/MT on daily analysis. However, in Maharashtra (Mumbai & Jalna) the producers have sharply raised billet prices by INR 300-500/MT following improved demand.
SteelMint’s price assessments for induction furnaces billet size 125×125 mm are reported at INR 32,100-36,000/MT (USD 494-554) ex-plant. Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 20,200-22,100/MT (USD 311-340); prices are ex-plant & excluding GST.
On 28th Feb 2018 (Wednesday) INR to USD exchange rate stood at INR 65.16 & BSE Sensex closed at 34,184 (-162).
Key Market Updates:
1. Vizag Steel concludes 10,000 MT billet (IS 2830, size 90*90 mm) export tender at around USD 520/MT and 10,000 MT bloom (IS 2830, size 150*150 mm) at around USD 510-515/MT. Both deals on FoB India basis.
2. Coal India Ltd (CIL) has reported a growth of 3% Y-o-Y in coal supplies to the power plants in Jan’18 & stood at 40.6 MnT against 39.6 MnT in Jan’17.
3. Tamil Nadu News Print Ltd invites global tender for import of 300,000 MT Non-Coking coal
4. Durgapur, Eastern India based private pig iron producers have offered steel grade at INR 29,500-29,700/MT
5. Raipur, Central India based Integrated plants offer increased by INR 100-200/MT D-o-D, offering Sponge P-DRI at INR 19,900-20,000/MT & Sponge DR CLO grade at INR 22,000-22,200/MT ex-plant
6. Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 20,300-20,400/MT & billet at INR 32,000/MT ex-plant an official reported. And added export deal of one rake billet to Nepal a day ago at around USD 498/MT (ex-mill).
7. BMM Ispat in South India (Karnataka) has increased offers for FeM 80 P-DRI by INR 100-200/MT to INR 20,000/MT ex-Bellary, an official reported.
8. Bellary, Karnataka based furnace owners selling billet to Chennai (Tamil Nadu) at around INR 34,500/MT on FoR basis.
9. Today, Rebar & Structure prices in Mumbai & Raipur increase by INR 100-200/MT on raise inquiries & increase billet prices
10. Imported scrap offers to India increase by USD 10-12/MT in a week, offers for HMS 1&2 (80:20) Dubai origin containers stood at USD 380/MT, CFR Nhava Sheva
Reference prices as on 28th February 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 22,100 | 22,000 | 22,200 | + 100 | 22,100 | 21,700 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 20,450 | 20,400 | 20,500 | – 50 | 20,700 | 20,900 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 21,300 | 21,200 | 21,400 | + 100 | 21,400 | 21,300 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 20,600 | 20,500 | 20,700 | 0 | 20,900 | 20,300 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 21,000 | 20,900 | 21,100 | + 50 | 21,000 | 20,600 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 19,900 | 19,800 | 20,000 | + 150 | 20,200 | 20,000 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,900 | 19,800 | 20,000 | 0 | 20,100 | 19,600 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 20,500 | 20,400 | 20,600 | 0 | 20,900 | 19,900 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 35,200 | 35,100 | 35,300 | – 50 | 35,800 | 34,700 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 32,800 | 32,700 | 32,900 | + 200 | 32,800 | 31,600 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 31,450 | 31,400 | 31,500 | – 50 | 31,700 | 30,900 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 32,100 | 32,000 | 32,200 | + 100 | 32,500 | 31,700 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 34,600 | 34,500 | 34,700 | + 600 | 34,800 | 34,000 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 34,000 | 33,800 | 34,200 | 0 | 34,000 | 33,500 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 32,800 | 32,800 | 33,000 | – 200 | 33,000 | 33,750 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 36,000 | 35,800 | 36,100 | 0 | 36,600 | 35,400 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 33,200 | 33,100 | 33,300 | + 200 | 33,200 | 32,100 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 32,200 | 32,100 | 32,300 | 0 | 32,400 | 31,400 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 32,800 | 32,800 | 32,900 | + 100 | 33,300 | 32,400 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 34,800 | 34,700 | 34,900 | + 600 | 35,000 | 34,200 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 34,500 | 34,400 | 34,700 | 0 | 34,500 | 34,000 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 33,000 | 32,800 | 33,000 | 0 | 33,000 | 33,750 | |
| TMT | Ex-Delhi/NCR | 12MM | 38,200 | 38,000 | 38,400 | – 400 | 38,500 | 38,200 |
| Ex-Durgapur | 12MM | 37,500 | 37,300 | 37,700 | + 200 | 37,300 | 36,300 | |
| Ex-Raipur | 12MM | 36,200 | 36,000 | 36,400 | + 100 | 36,700 | 36,000 | |
| Ex-Mumbai | 12MM | 38,700 | 38,300 | 38,800 | + 200 | 39,200 | 38,800 | |
| Ex-Chennai | 12MM | 38,800 | 38,700 | 39,000 | 0 | 38,600 | 38,750 | |
| Ex-Hyderabad | 12MM | 38,500 | 38,300 | 38,700 | 0 | 38,700 | 37,700 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
Leave a Reply