Today, Indian billet prices almost remained firm amid low buying activities by re-rollers.
As per SteelMint’s price assessment, induction furnaces grade billet (size 125×125 mm) are reported at INR 25,600-27,800/MT (USD 400-434) ex-works.
On daily price analysis, sponge prices further increase by INR 100-200/MT in across major producing markets owing to low availability.
The price assessment for sponge C-DRI produced through coal are reported at INR 16,200-17,500/MT (USD 253-273) ex-plant.
Updates
1. India billet export offers move up further by USD 5-10/MT W-o-W. Vizag Steel’s billet export tender see’s bid rise by USD 14/MT
2. Indian sponge export offers by a Durgapur based manufacturer are reported about USD 300/MT CPT Benapole port, Bangladesh for lumps grade.
3. Chhattisgarh based steel plants increased their iron ore procurement from NMDC by approximately 28% in July 2017 (till 26th) against June’17. About 32 rakes have been dispatched in July 2017 (till 26th) compared to 25 rakes in June’17.
Indian sponge & billet reference prices as on 28 July 2017
| Particular/Delivery | C-DRI | D-o-D | W-o-W | Billet | D-o-D | W-o-W |
| Ex-Raipur | 17,400 | +200 | +500 | 26,350 | 0 | +450 |
| Ex-Durgapur | 17,500 | 0 | +1,250 | 26,300 | 0 | +650 |
| Ex-Rourkela | 16,250 | +150 | +900 | 25,600 | +100 | +600 |
| Ex-Bellary | 16,300 | 0 | +200 | 26,800 | 0 | +500 |
| Ex-Ahmedabad | – | – | – | 27,750 | 0 | +200 |
| Ex-Mumbai | – | – | – | 26,700 | +100 | +400 |
Basic, ex-works prices & excluding of GST @ 18%
Source: SteelMint Research
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