On 30th Aug, Indian Semi finished market observed slight price correction due to thin trade activities. Sponge prices decline by INR 100-200/MT whereas billet fall in the range of INR 100-400/MT.
Billet prices majorly fall in Gujarat by INR 300-400/MT further in rest of markets the both products decline by INR 100-200/MT.
SteelMint’s price assessments for induction furnaces billet size 125×125 mm are reported at INR 26,400-29,200/MT (USD 412-456) ex-plant.
While, coal based 78-80 FeM sponge C-DRI price assessment was at INR 17,600-19,000/MT (USD 275-297) ex-plant.
Key Market Updates:
1. Chhattisgarh based sponge units iron ore sourcing from NMDC up by 8% M-o-M in Aug’17, while outside Chhattisgarh based units reduced iron ore sourcing by 6%
2. Bangladesh domestic market have gain momentum due to rising imported scrap & sponge offers. Billet & rebar prices reported a surge of 1,000-2,000 MT Bangladesh Taka (USD 12-25) in a week duration.
3. Raipur based Integrated plants reduced Sponge P-DRI offers by INR 100-200/MT to INR 17,500/MT; ex-plant & excluding of GST at 18%.
4. Big plants in Durgapur, West Bengal reduced Sponge & Billet prices by INR 100/MT day on day. Today, the offers for the opening hours were reported – C-DRI at INR 18,200/MT, P-DRI at INR 17,200/MT & for Billet size 100*100 & 125*125 mm at INR 27,100-27,200/MT basic & excluding of GST.
5. BMM Ispat in South India has offered FeM 80 P-DRI lumps at INR 17,200/MT ex-Bellary, Karnataka. Another manufacturer namely Sunvik Steels kept sponge offers unaltered; 80 C-DRI at INR 17,700/MT. The both prices are ex-plant & excluding of GST at 18%.
Reference prices as on 30 August 2017
| Particular/Delivery | Size, Grade, Origin | Prices | Change | 1W | 1M | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 18,200 | – 100 | 18,150 | 17,500 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 17,700 | – 100 | 17,750 | 16,300 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 19,000 | 0 | 18,800 | 17,500 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 17,600 | – 200 | 17,600 | 16,600 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 17,200 | – 100 | 17,250 | 16,500 |
| Ex-Rourkela | Lumps, FeM 78%, +/-1 | 16,750 | – 50 | 17,000 | NA | |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 17,500 | – 200 | 17,600 | 16,500 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 17,300 | – 100 | 17,400 | 16,400 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 29,400 | – 250 | 29,300 | 28,700 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 26,800 | – 100 | 26,700 | 25,650 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 26,000 | – 100 | 26,000 | 25,100 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 26,400 | – 250 | 26,200 | 25,700 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 28,150 | + 250 | 27,700 | 27,000 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 28,500 | – 250 | 29,000 | 27,250 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 29,800 | – 200 | 29,700 | 28,900 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 27,150 | – 100 | 27,100 | 26,200 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 26,400 | 0 | 26,300 | 25,400 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 27,000 | – 200 | 26,700 | 26,200 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 28,350 | + 250 | 27,900 | 27,200 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 29,000 | – 250 | 29,500 | 27,750 | |
| TMT | Ex-Delhi/NCR | 12MM | 32,950 | – 400 | 33,900 | 33,000 |
| Ex-Durgapur | 12MM | 30,000 | 0 | 29,600 | 29,000 | |
| Ex-Raipur | 12MM | 29,800 | – 200 | 29,600 | 28,800 | |
| Ex-Mumbai | 12MM | 31,600 | 0 | 31,900 | 30,800 | |
| Ex-Chennai | 12MM | 32,750 | – 250 | 33,000 | 31,800 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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