Indian Billet & Sponge iron prices remain slightly fluctuates by INR 100-200/MT day-on-day over limited inquiries with the producers. The market participants also stated that, due to volatility in prices, the buyers are cautious for fresh bulk bookings.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 34,500-38,100/MT (USD 507-560) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 19,800-21,800/MT (USD 291-321); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 15th May 2018 (Tuesday) INR to USD exchange rate stood at INR 68.16
— BSE Sensex closed at 35,543(-12) on Tuesday, as against last day (Monday) at 35,556(+20).
Key Updates
— India’s DGFT exempts 5 countries (USA, UK, Canada, New Zealand, Australia and the EU) from requiring a pre-shipment inspection certificate for metal scrap imports. India imports around 5 MnT ferrous scrap annually
— Supreme Court urges to put complete ban on imports of Pet coke. This may push imports of US Non-Coking Coal as the GCV is high, as is in Petcoke
— India’s Vizag Steel had concluded a tender for export of 10,000 MT billets (Grade IS 2830 GR A of size 90*90 mm having length of 12 meters) at around USD 531-532/MT, FoB India.
— Raipur, Central India based Integrated plants offer decreased by INR 100/MT D-o-D, offering Sponge P-DRI at INR 19,500-19,600/MT & Sponge DR CLO grade at INR 22,600-22,800/MT ex-plant
— Rashmi Metaliks in Durgapur has offered Sponge P-DRI at INR 20,100-20,200/MT & Billet at INR 35,400-35,500/MT, as per sources.
— Sources reported, few Raigarh based furnace owners are buying FeM 80 C-DRI fines at INR 20,000/MT on FoR basis.
— A day before, Monnet Ispat offered Sponge DR CLO at INR 22,700/MT & P-DRI at INR 19,500-19,600/MT ex-plant, Raipur. Also offered C-DRI from its Raigarh based plant at INR 20,700/MT ex-plant; trade activities are weak at these offers, as per officials.
— BIOP Steels in South India has increased sponge offers by around INR 200/MT, offering FeM 80 & 82 C-DRI lumps at INR 20,000/MT & INR 20,400/MT ex-plant, Karnataka; an official reported.
— BMM Ispat in Karnataka has offered sponge P-DRI at INR 18,800-18,900/MT and Sunvik Steels sponge C-DRI lumps at INR 20,400/MT. Both offers for FeM 80, excluding GST & ex-plant basis.
— Local manufacturers in Raigarh are offering 60-14 Silico Manganese at around INR 62,000/MT ex-plant
— Melting scrap offers in Western India- Mumbai rise by INR 500/MT in a day trade activities
Reference prices as on 15th May 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Chennai | HMS(80:20) | 26,700 | 26,600 | 26,800 | 0 | 26,500 | 26,300 |
| Ex-Mumbai | HMS(80:20) | 27,700 | 27,600 | 27,800 | + 500 | 26,900 | 26,200 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 21,400 | 21,300 | 21,500 | – 100 | 22,300 | 21,500 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 20,500 | 20,400 | 20,600 | – 200 | 21,000 | 20,900 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 21,800 | 21,700 | 21,900 | – 100 | 22,000 | 22,100 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,800 | 19,600 | 20,000 | 0 | 19,700 | 20,500 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 20,100 | 20,000 | 20,200 | – 100 | 21,000 | 20,200 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 19,600 | 19,500 | 19,700 | – 100 | 19,750 | 20,200 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 18,900 | 18,800 | 19,000 | + 100 | 18,700 | 19,600 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 19,300 | 19,200 | 19,400 | + 100 | 19,000 | 20,800 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 37,400 | 37,300 | 37,500 | + 100 | 38,000 | 37,400 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 34,750 | 34,700 | 34,800 | – 150 | 35,500 | 34,800 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 33,700 | 33,600 | 33,800 | – 100 | 34,600 | 34,300 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 34,250 | 34,200 | 34,300 | + 150 | 34,150 | 34,900 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 35,800 | 35,700 | 35,900 | – 100 | 36,200 | 36,100 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 36,500 | 36,400 | 36,600 | 0 | 36,500 | 36,800 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 34,700 | 34,600 | 34,800 | 0 | 35,200 | 36,000 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 38,100 | 38,000 | 38,200 | + 100 | 38,700 | 38,000 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 35,300 | 35,200 | 35,400 | – 50 | 36,000 | 35,500 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 34,500 | 34,400 | 34,600 | – 100 | 35,400 | 34,700 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 35,250 | 35,200 | 35,300 | + 50 | 35,400 | 35,600 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 36,450 | 36,400 | 36,500 | – 150 | 36,900 | 36,300 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 37,000 | 36,900 | 37,100 | 0 | 37,000 | 37,300 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 35,000 | 34,900 | 35,100 | 0 | 35,500 | 36,250 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 415/500 Fe | 40,800 | 40,600 | 41,000 | 0 | 41,400 | 40,800 |
| Ex-Durgapur | 12-25 MM, IS 1786- 415/500 Fe | 39,800 | 39,600 | 40,000 | – 300 | 40,700 | 39,800 | |
| Ex-Raipur | 12-25 MM, IS 1786- 415/500 Fe | 39,200 | 39,000 | 39,400 | 0 | 39,200 | 39,300 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 415/500 Fe | 40,500 | 40,100 | 40,600 | – 200 | 40,600 | 40,100 | |
| Ex-Chennai | 12-25 MM, IS 1786- 415/500 Fe | 41,600 | 41,500 | 41,800 | + 100 | 41,400 | 41,500 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 415/500 Fe | 39,500 | 39,300 | 39,700 | 0 | 40,000 | 41,000 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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