The prices of billet & sponge inched up today after continuous fall till last week, up by INR 100-200/MT due to improved trade activities in the domestic market
However, in Western region- Maharashtra billet offers plunged by INR 400/MT (USD 7). The offers fall due to temporarily plant maintenance by few re-rollers which had put price pressure on billet.
SteelMint’s price assessments for induction furnaces billet size 125×125 mm are reported at INR 24,450-26,750/MT (USD 378-415) ex-plant.
Further the coal based 78-80 FeM sponge C-DRI price assessment was at INR 15,200-16,700/MT (USD 234-259) ex-plant.
Indian sponge & billet reference prices as on 17 July 2017
| Particular/Delivery | C-DRI | D-o-D | W-o-W | Billet | D-o-D | W-o-W |
| Ex-Raipur | 16,700 | +200 | -100 | 25,500 | +100 | -400 |
| Ex-Durgapur | 15,550 | +200 | +250 | 25,200 | +200 | -300 |
| Ex-Rourkela | 15,200 | +100 | +200 | 24,450 | +100 | -450 |
| Ex-Bellary | 15,700 | 0 | -500 | 26,300 | 0 | -500 |
| Ex-Ahmedabad | – | – | – | 26,900 | +100 | -600 |
| Ex-Mumbai | – | – | – | 26,200 | -400 | -1,200 |
Ex-works basic prices, excluding GST at 18%
Source: SteelMint Research
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