Today, Indian Sponge & Billet market witnessed slight price fluctuation of INR 100-200/MT in major markets. However, a sharp fall in billet by INR 200-400/MT being observed in Western India – Maharashtra & Gujarat on poor inquiries.
SteelMint’s price assessments for induction furnaces billet size 125×125 mm are reported at INR 32,500-36,200/MT (USD 498-555) ex-plant. Further the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 20,400-21,700/MT (USD 313-333); prices are ex-plant & excluding GST.
On 20th Mar 2018 (Tuesday) INR to USD exchange rate stood at INR 65.22 & BSE Sensex closed at 32,996(+73).
Key Market Updates:
1. Jindal Steel & Power Limited (JSPL) has offered 100,000 MT Iron ore lump from its Tensa mines. The due date for bid submission is 7-Apr 2018.
2. Domestic pellet prices in eastern India continue to remain under pressure witnessing fall of around INR 200-300/MT W-o-W.
3. Indian sponge iron export offers reduced, price assessment for 78-80 FeM sponge lumps are at USD 370-375/MT CPT Benpole (dry land port of Bangladesh & India) and USD 390-395/MT CFR Chittagong, Bangladesh.
4. Raipur, Central India based Integrated plants offer unaltered, offering Sponge P-DRI at INR 19,900-20,000/MT & Sponge DR CLO grade at INR 22,000-22,200/MT ex-plant
5. Singhal Steel offered P-DRI at INR 19,000/MT ex-plant (Raigarh), an official reported. Also added, few deals of billet concluded for Raipur at INR 33,200-300/T FoR.
6. Bhushan Power & Steel has offers Sponge P-DRI at INR 19,000/MT & steel grade Pig iron at INR 29,300/MT ex-Jharsugda, according to the officials.
7. Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 20,500/MT & Billet at INR 32,700/MT ex-plant.
8. Induction furnace grade billet (100×100 mm), export buying interest from Nepal are reported at around USD 500-505/MT (ex-mill) Rourkela – Sources.
9. BIOP Steel in South India has keep offers unaltered, offering FeM 80 & 82 C-DRI lumps at INR 20,800/MT & INR 21,300/MT ex-plant, Karnataka.
10. Melting scrap offers in Western India- Maharashtra rise by INR 200-400/MT day on day due to shortage of material.
11. Trade discount in Raipur Wire rod heard at around INR 700/MT; similar against last day (19 Mar).
12. Local manufacturers in Raigarh are offering 60-14 Silico Manganese at around INR 69,500/MT ex-plant.
13. The steel mills in Chennai, South India reported export inquiries for Rebars at USD 595/MT & Billet at USD 530-535/MT; FoB, from South East Asia – Myanmar.
Reference prices as on 20th March 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 21,300 | 21,200 | 21,400 | 0 | 21,100 | 22,000 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 20,400 | 20,300 | 20,500 | – 100 | 20,200 | 20,600 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 21,650 | 21,600 | 21,700 | + 50 | 21,400 | 21,300 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 21,000 | 20,900 | 21,100 | 0 | 20,900 | 20,900 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 20,000 | 19,900 | 20,100 | 0 | 20,000 | 20,900 |
| Ex-Jharsugda | Lumps, FeM 78%, +/-1 | 19,000 | 18,900 | 19,100 | NA | NA | NA | |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 19,900 | 19,800 | 20,000 | 0 | 19,700 | 20,100 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 20,100 | 20,000 | 20,200 | – 100 | 20,100 | 20,100 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 20,700 | 20,600 | 20,800 | 0 | 20,600 | 20,900 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 35,450 | 35,400 | 35,500 | – 50 | 34,500 | 35,750 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 32,900 | 32,800 | 3,300 | 0 | 32,500 | 32,500 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 31,600 | 31,600 | 31,700 | – 100 | 31,100 | 31,300 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 32,200 | 32,100 | 32,300 | – 100 | 31,600 | 32,450 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 34,100 | 34,000 | 34,200 | – 100 | 34,200 | 34,700 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 35,500 | 35,000 | 35,500 | 0 | 36,000 | 34,500 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 34,700 | 34,500 | 34,800 | 0 | 33,800 | 33,000 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 36,200 | 36,100 | 36,300 | 0 | 35,300 | 36,600 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 33,300 | 33,200 | 33,400 | + 100 | 32,900 | 33,000 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 32,600 | 32,500 | 32,700 | – 100 | 32,000 | 32,200 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 33,200 | 33,200 | 33,300 | 0 | 32,500 | 33,100 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 34,300 | 34,200 | 34,400 | – 100 | 34,400 | 34,900 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 36,000 | 35,900 | 36,100 | 0 | 36,500 | 35,000 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 35,000 | 34,800 | 35,000 | 0 | 34,000 | 33,200 | |
| TMT | Ex-Delhi/NCR | 12MM | 38,800 | 38,600 | 39,000 | 0 | 38,000 | 38,200 |
| Ex-Durgapur | 12MM | 38,000 | 37,800 | 38,200 | 0 | 37,700 | 37,000 | |
| Ex-Raipur | 12MM | 37,300 | 37,100 | 37,500 | – 100 | 36,300 | 36,500 | |
| Ex-Mumbai | 12MM | 37,900 | 37,500 | 38,000 | – 300 | 38,000 | 39,500 | |
| Ex-Chennai | 12MM | 41,000 | 40,900 | 41,500 | 0 | 40,500 | 39,000 | |
| Ex-Hyderabad | 12MM | 40,250 | 40,000 | 40,500 | 0 | 39,500 | 39,000 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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