Today, Indian billet and sponge prices remain slightly fluctuate by INR 100-300/MT on daily analysis.
SteelMint’s price assessments for induction furnaces billet size 125×125 mm are reported at INR 25,200-27,600/MT (USD 390-427) ex-plant.
While, coal based sponge C-DRI price assessment was at INR 15,700-16,900/MT (USD 243-262) ex-plant.
Key Market Updates:
1. Raipur based big plants offering P-DRI at INR 15,700/MT which was at INR 15,600/MT on 25th July.
2. According to sources, big manufacturers in Durgapur have increase sponge offers approx INR 500/MT to INR 17,000-17,200/MT for FeM 78 C-DRI.
3. Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 15,700/MT & billet at INR 25,200/MT ex-plant.
4. BMM Ispat in South India has offered FeM 80 P-DRI lumps at INR 15,900/MT ex-Bellary, Karnataka.
5. Sunvik Steels in Karnataka kept sponge prices unaltered; offering FeM 80 & 82 C-DRI are INR 16,300/MT and INR 16,700/MT ex-plant
6. Prakash Sponge, a prime grade sponge maker in Karnataka offered FeM 80 C-DRI lumps at INR 16,200/MT ex-plant.
7. Indian sponge export offers surge, the fresh offers by a Durgapur based manufacturer reported at USD 300-310/MT CPT Benapole port, Bangladesh for lumps grade material.
Indian sponge & billet reference prices as on 25 July 2017
| Particular/Delivery | C-DRI | D-o-D | W-o-W | Billet | D-o-D | W-o-W |
| Ex-Raipur | 16,900 | +100 | +200 | 25,800 | 0 | +100 |
| Ex-Durgapur | 17,000 | +600 | +1,200 | 26,100 | +200 | +500 |
| Ex-Rourkela | 15,700 | +200 | +450 | 25,200 | +200 | +600 |
| Ex-Bellary | 16,200 | +100 | +500 | 26,700 | 0 | +500 |
| Ex-Ahmedabad | – | – | – | 27,600 | -150 | +600 |
| Ex-Mumbai | – | – | – | 26,700 | -100 | +850 |
Basic, ex-works prices & excluding of GST @ 18%
Source: SteelMint Research
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