Indian billet and sponge prices remain slightly fluctuate by INR 100-300/MT on daily analysis amid mix trade trade activities.
SteelMint’s price assessments for induction furnaces billet size 125×125 mm are reported at INR 25,400-27,900/MT (USD 396-436) ex-plant.
While, coal based sponge C-DRI price assessment was at INR 16,200-17,500/MT (USD 253-273) ex-plant.
Key Updates
1. Nagpur, Maharashtra based renowned sponge manufacturer who’s production is about 25,000-30,000 MT per month, heard to offering P-DRI(FeM 80) at INR 16,200-16,400/MT ex-plant
2. BMM Ispat in South India has increased offers of FeM 80 P-DRI lumps by INR 500/MT to INR 16,500/MT ex-Bellary, Karnataka.
3. Sunvik Steels in Karnataka has increased offers by INR 300/MT; offering FeM 80 & 82 sponge C-DRI lumps are INR 16,600/MT & INR 17,000/MT ex-plant, respectively.
Indian sponge & billet reference prices as on 31 July 2017
| Particular/Delivery | C-DRI | D-o-D | W-o-W | Billet | D-o-D | W-o-W |
| Ex-Raipur | 17,500 | 0 | +700 | 26,450 | -50 | +650 |
| Ex-Durgapur | 17,250 | -100 | +850 | 26,100 | -100 | +200 |
| Ex-Rourkela | 16,200 | 0 | +700 | 25,450 | -50 | +450 |
| Ex-Bellary | 16,550 | +300 | +450 | 27,300 | +300 | +500 |
| Ex-Ahmedabad | – | – | – | 27,900 | 0 | +150 |
| Ex-Mumbai | – | – | – | 27,200 | 0 | +400 |
Basic, ex-works prices & excluding of GST @ 18%
Source: SteelMint Research
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