Indian Sponge & Billet prices witness fall of INR 100-500/MT day-on-day. According to SteelMint assessment, the major prices fall assessed in Central & East India by INR 300-500/MT (USD 4-8) over limited inquiries with the producers.
Today, the price assessments for induction furnaces billet size 125×125 mm are reported at INR 32,000-36,500/MT (USD 495-564) ex-plant. Further, the coal based sponge (78-80 FeM) C-DRI price stood at INR 20,200-21,100/MT (USD 312-326); prices are ex-plant & excluding GST.
On 13th Mar 2018 (Tuesday) INR to USD exchange rate stood at INR 64.74 & BSE Sensex closed at 33,856(-61).
Key Market Updates:
1. Bhushan Steel’s Iron ore procurement increased by 50% in Feb’18 & stood at 0.41 MnT against 0.27 MnT in Jan’18.
2. Jindal SAW (Rajasthan) reduced pellet offers by INR 300/MT. Offers for Fe 63% grade pellets are assessed around INR 6,900/MT (delivered Kandla) against last assessment of INR 7,200/MT.
3. Vizag Steel concludes 25,000 MT billet export tender of 150*150mm at around USD 515-520/MT, FoB India and 75*75mm billet around USD 520-525/MT, FoB India.
4. Indian sponge iron export offers reduced by USD 5-10/MT W-o-W, price assessment for 80 FeM sponge lumps are at USD 385-390/MT CPT Benpole (dry land port of Bangladesh & India) and USD 405/MT CFR Chittagong, Bangladesh.
5. Raipur, Central India based Integrated plants offer reduced by INR 200/MT D-o-D, offering Sponge P-DRI at INR 19,700-19,800/MT & Sponge DR CLO grade at INR 21,900-22,100/MT ex-plant
6. Rashmi Metaliks in Durgapur has reduced sponge prices by INR 400-500/MT and latest offers heard at INR 20,000/MT for P-DRI & C-DRI at around INR 21,100/MT.
7. Singhal Steel offered P-DRI at INR 18,800/MT ex-plant (Raigarh), an official reported. Also added, few deals of billet concluded for Raipur at 32,600/MT FoR.
8. South India based Cauvery Iron & Steel offers FeM 80 P-DRI & billet at INR 20,800/MT & INR 34,000/MT. Also offering 28 MM Rebar at INR 37,000/MT. prices are ex-plant & excluding GST.
9. Durgapur, East India based private Pig iron manufacturers reduced steel grade offers by INR 300-500/MT and the latest prices reported at INR 29,300-29,500/MT. The prices fall in line slump in sponge & billet prices, the manufacturers mentioned.
10. Chennai, Tamil Nadu based rolling mill owners buying billet from Odisha at around INR 35,500-35,800/MT on FoR basis.
11. According to small mills in Raipur, rebar inquiries improved specially from South India- Hyderabad and have been booked good quantities. The deal price for 12mm rebars have reported at INR 36,200-36,400/MT and freight cost to Hyderabad at close to INR 2,000/MT.
12. Raipur based Wire Rod discount level decreased to INR 900-1,100/MT as per trade participants.
13. Rathi Steels in North India – Delhi reduce their price by around INR 300/MT today and current offering at INR 39,300/MT, size – 12 mm & excluding 18% GST.
14. Real Ispat & Power offers Rebar (GK TMT) 12-25 mm at INR 38,700/MT ex-plant, Raipur. According to the officials demand is supported at these offer prices and it won’t get disturbed with minor changes.
15. Raipur Based, Bajrang Power & Ispat (Goel TMT) has offered 12mm rebars at INR 39,000/MT ex-plant, excluding GST.
Reference prices as on 13th March 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 21,100 | 21,000 | 21,200 | – 500 | 22,600 | 21,600 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 20,200 | 20,100 | 20,300 | – 300 | 20,900 | 20,600 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 21,400 | 21,300 | 21,500 | – 200 | 21,600 | 21,400 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 20,900 | 20,800 | 21,000 | – 100 | 21,300 | 20,700 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 20,000 | 19,900 | 20,000 | – 500 | 21,500 | 20,600 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 19,700 | 19,600 | 19,800 | – 200 | 20,350 | 20,000 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 20,100 | 20,000 | 20,200 | – 100 | 20,400 | 19,900 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 20,600 | 20,500 | 20,700 | – 100 | 21,000 | 20,400 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 34,500 | 34,400 | 34,600 | – 300 | 35,700 | 34,900 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 32,500 | 32,400 | 32,600 | – 200 | 33,500 | 32,000 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 31,100 | 31,000 | 31,200 | – 400 | 32,300 | 31,000 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 31,600 | 31,500 | 31,700 | – 350 | 32,800 | 32,000 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 34,200 | 34,100 | 34,300 | + 100 | 35,300 | 34,700 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 36,000 | 35,900 | 36,100 | 0 | 34,500 | 34,000 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 33,800 | 33,800 | 34,000 | 0 | 34,800 | 34,000 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 35,300 | 35,200 | 35,400 | – 400 | 36,500 | 35,700 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 32,900 | 32,800 | 33,000 | – 500 | 33,900 | 32,550 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 32,000 | 31,900 | 32,100 | – 500 | 32,900 | 31,600 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 32,500 | 32,400 | 32,600 | – 400 | 33,600 | 32,700 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 34,400 | 34,300 | 34,500 | + 100 | 35,500 | 34,900 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 36,500 | 36,400 | 36,600 | 0 | 35,000 | 34,500 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 34,000 | 34,000 | 34,200 | 0 | 35,000 | 34,000 | |
| TMT | Ex-Delhi/NCR | 12MM | 38,000 | 37,800 | 38,100 | – 300 | 39,100 | 38,800 |
| Ex-Durgapur | 12MM | 37,700 | 37,500 | 37,900 | – 300 | 38,300 | 36,500 | |
| Ex-Raipur | 12MM | 36,300 | 36,100 | 36,500 | – 100 | 37,000 | 36,300 | |
| Ex-Mumbai | 12MM | 38,000 | 37,600 | 38,100 | 0 | 39,200 | 39,100 | |
| Ex-Chennai | 12MM | 40,500 | 40,500 | 41,000 | 0 | 39,600 | 38,700 | |
| Ex-Hyderabad | 12MM | 39,500 | 39,300 | 39,700 | – 300 | 40,500 | 38,700 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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