Indian Billet & Sponge prices remain volatile on 18th April due to subdued trade activities and supply disruptions.
As per SteelMint assessment, the prices in Central India slightly decline, while in North, East & Western regions it increased by INR 100-300/MT. Meanwhile in South part, the producers have maintained offers firm for both Sponge iron & Billets.
The latest price assessment for induction furnaces billet in Indian market stood at INR 34,900-38,100/MT (USD 531-580) ex-plant. Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 20,500-22,100/MT (USD 312-336); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 18th Apr 2018 (Wednesday) INR to USD exchange rate stood at INR 65.66
— BSE Sensex closed at 34,331(-63) on Wednesday, as against last day (Tuesday) at 34,395(+89).
Key Market Updates:
— Odisha’s Serajuddin Mines cut Iron lump prices by INR 250/MT and fines by INR 150/MT
— BRPL eyes 80-85% utilization in FY19 after change in share holding pattern. Company produced about 2.6 MnT Pellet in FY18 against installed capacity of 4 MnT. It exported 1.6 MnT pellets in FY18
— Indian imported scrap offers moved down by USD 7-8/MT on weekly basis. Shredded scrap offers from UK and USA origins assessed at USD 380/MT & USD 386/MT, CFR Nhava Sheva, West India
— Indian Sponge iron export offers to Bangladesh for lumps grade FeM 78-80, hovering at USD 365-370/MT CPT Benapole (dry land port of Bangladesh & India) and USD 385-390/MT CFR Chittagong, Bangladesh
— Raipur, Central India based Integrated plants offer unaltered, offering Sponge P-DRI at INR 20,100-20,200/MT ex-plant
— Rashmi Metaliks in Durgapur has raised sponge prices by INR 300/MT and the current offers for P-DRI heard at INR 20,800/MT – Sources.
— Singhal Steel has offered P-DRI at INR 19,200/MT ex-plant (Raigarh). Also offering billet at INR 35,700/MT FoR Raipur & excluding GST.
— Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 21,200/MT & billet at INR 35,000/MT ex-plant.
— BIOP Steels in South India has reduced sponge offers by around INR 100/MT and offering FeM 80 & 82 C-DRI lumps at INR 20,800/MT & INR 21,300/MT ex-plant, Karnataka
— Hare Krishna, a 300 TPD sponge manufacturer in Bellary, Karnataka has offered 80 FeM P-DRI at INR 19,600-19,800/MT ex-plant.
— Local manufacturers in Raigarh are offering 60-14 Silico Manganese at around INR 69,500/MT ex-plant
— The medium mills in Central, East & Western India reported slowdown in Rebar inquiries and have unaltered prices for the day.
— Today, structure manufacturers in Raipur & Mumbai have roll over offers for both light & heavy sizes amid slight changes in Billet prices.
— Rathi Steels in North India-Delhi have maintained Rebar offers firm and are assessed 12mm at INR 42,400/MT; excluding GST.
Reference prices as on 18th April 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Mumbai | HMS(80:20) | 26,200 | 26,100 | 26,300 | 0 | 25,900 | 25,200 |
| Ex-Chennai | HMS(80:20) | 26,300 | 26,200 | 26,400 | 0 | 25,700 | 25,900 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 21,800 | 21,700 | 21,900 | + 300 | 20,600 | 21,200 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 21,000 | 20,900 | 21,100 | + 100 | 20,800 | 20,300 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 22,100 | 22,000 | 22,200 | 0 | 22,100 | 21,500 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 20,500 | 20,400 | 20,600 | 0 | 20,600 | 20,900 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 20,500 | 20,400 | 20,600 | + 300 | 19,200 | 19,700 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 20,150 | 20,100 | 20,200 | – 50 | 20,400 | 19,800 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,500 | 19,400 | 19,600 | – 100 | 20,000 | 20,100 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 20,800 | 20,700 | 20,900 | 0 | 20,900 | 20,600 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 37,500 | 37,400 | 37,600 | + 100 | 37,000 | 35,200 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 35,100 | 35,000 | 35,200 | + 300 | 34,300 | 32,700 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 34,500 | 34,400 | 34,600 | + 200 | 33,400 | 31,600 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 34,800 | 34,700 | 34,900 | – 100 | 34,100 | 32,000 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 36,100 | 36,000 | 36,200 | 0 | 35,400 | 34,000 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 36,800 | 36,700 | 36,900 | 0 | 36,000 | 35,500 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 36,200 | 36,100 | 36,300 | + 200 | 35,200 | 34,200 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 38,100 | 38,000 | 38,300 | + 100 | 37,700 | 36,000 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 35,600 | 35,500 | 35,700 | + 100 | 34,900 | 33,000 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 34,900 | 34,800 | 35,000 | + 200 | 33,800 | 32,600 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 35,600 | 35,500 | 35,700 | 0 | 34,900 | 32,900 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 36,300 | 36,300 | 36,400 | 0 | 35,600 | 34,200 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 37,300 | 37,000 | 37,500 | 0 | 36,500 | 36,000 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 36,500 | 36,400 | 36,600 | + 250 | 35,500 | 34,500 | |
| TMT | Ex-Delhi/NCR | 12MM | 40,800 | 40,600 | 41,000 | 0 | 40,100 | 38,800 |
| Ex-Durgapur | 12MM | 39,800 | 39,600 | 39,000 | 0 | 39,300 | 37,500 | |
| Ex-Raipur | 12MM | 39,300 | 39,100 | 39,500 | 0 | 38,200 | 36,800 | |
| Ex-Mumbai | 12MM | 40,100 | 39,700 | 40,200 | 0 | 39,600 | 37,900 | |
| Ex-Chennai | 12MM | 41,500 | 41,400 | 42,000 | 0 | 41,000 | 41,000 | |
| Ex-Hyderabad | 12MM | 41,000 | 40,800 | 41,200 | 0 | 40,250 | 40,000 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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