Today, domestic Semi-finished offers further corrected as a day ago, Sponge by INR 100-350/MT & Billet by INR 100-500/MT owing to weak trade activities.
Sharp fall in billet offers by INR 300-500/MT reported in Hyderabad & Ahmedabad, while in rest of markets both sponge & billet offers decline by INR 100-300/MT.
As per SteelMint’s price assessment, induction furnaces grade billet (size 125×125 mm) are reported at INR 26,100-29,250/MT (USD 407-457) ex-works,
Further the coal based sponge C-DRI price assessment was at INR 17,400-18,800/MT (USD 271-294) ex-plant.
Key Updates
1. According to sources, Integrated plants in Raipur are offering sponge P-DRI at INR 17,400-17,500/MT ex-plant, while few small size manufacturers are offering same material at INR 17,300-17,400/MT FOR and DR-CLO grade sponge at INR 19,200-19,400/MT ex-plant & excluding of GST.
2. Durgapur based big manufacturers reduced sponge offers by INR 300-400/MT; offering FeM 78 C-DRI at INR 17,800/MT, basic & excluding of GST.
3. Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 17,500/MT & billet at INR 26,400/MT ex-plant.
4. Sunvik Steels in Karnataka kept sponge prices unaltered; offering FeM 80 & 82 C-DRI are INR 17,900/MT and INR 18,300/MT ex-plant
Indian sponge & billet reference prices as on 24 August 2017
| Particular/Delivery | C-DRI | D-o-D | W-o-W | Billet | D-o-D | W-o-W |
| Ex-Raipur | 18,800 | 0 | -400 | 26,700 | 0 | -700 |
| Ex-Durgapur | 17,800 | -350 | -800 | 26,750 | -350 | -900 |
| Ex-Rourkela | 17,600 | -150 | -400 | 26,300 | 0 | -600 |
| Ex-Bellary | 17,400 | -200 | -600 | 28,000 | 0 | -500 |
| Ex-Ahmedabad | – | – | – | 28,400 | -350 | -700 |
| Ex-Mumbai | – | – | – | 27,900 | 0 | -1,200 |
Basic, ex-works prices & excluding of GST @ 18%
Source: SteelMint Research
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