Today, domestic Semi-finished market observed slight price fluctuation of around INR 100-150/MT amid slower trade activities in major trade markets.
As per SteelMint’s assessment on 1st August 2017, the prices for FeM 78-80 C-DRI sponge are reported at INR 16,300-17,500/MT (USD 254-274).
While, induction furnaces billet (size 125×125 mm) are at INR 25,500-28,000/MT (USD 398-438) ex-works. All prices are ex-works & excluding of GST at 18%.
Key Updates
1. According to the sources, big manufacturers in Durgapur have increased sponge offers by INR 200-300/MT to INR 17,400-17,500/MT for FeM 78 C-DRI & INR 16,400-16,500/MT for P-DRI. Both prices are basic & excluding of GST at 18%.
2. Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 16,300/MT & billet at INR 25,500/MT ex-plant.
3. Bonai (Odisha), East India based medium size heard to have concluded billet export deal to Nepal at INR 25,500/MT ex-works on ex-plant basis.
4.BMM Ispat in South India has offered FeM 80 P-DRI lumps at INR 16,500/MT ex-Bellary, Karnataka.
5.Sunvik Steels in Karnataka kept sponge prices unaltered; offering FeM 80 & 82 C-DRI are INR 16,700/MT and INR 17,000/MT ex-plant
6. Shakti Ferro, a renowned producer in Chennai has offered billet at INR 27,000/MT ex-plant (excluding GST at 18%)
7.SAIL’s Billet export tender of 15,000 MT concluded at USD 440/MT FoB
Indian sponge & billet reference prices as on 1 August 2017
| Particular/Delivery | C-DRI | D-o-D | W-o-W | Billet | D-o-D | W-o-W |
| Ex-Raipur | 17,500 | 0 | +600 | 26,350 | -100 | +550 |
| Ex-Durgapur | 17,400 | +150 | +400 | 26,150 | +50 | +50 |
| Ex-Rourkela | 16,350 | +150 | +650 | 25,550 | +100 | +350 |
| Ex-Bellary | 16,600 | +50 | +400 | 27,300 | 0 | +500 |
| Ex-Ahmedabad | – | – | – | 28,000 | +100 | +400 |
| Ex-Mumbai | – | – | – | 27,200 | 0 | +500 |
Basic, ex-works prices & excluding of GST @ 18%
Source: SteelMint Research
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