Indian Sponge & Billet prices marginally decline by INR 100-200/MT on 31st Aug. The prices fall in line with stagnant demand and uncertainty in the market.
Today, SteelMint’s price assessment for induction furnaces billet size 125×125 mm are reported at INR 26,200-29,100/MT (USD 409-454) and Sponge C-DRI produced through coal are assessed at INR 17,600-18,900/MT (USD 275-295). All prices are ex-works & excluding of GST.
Key Market Updates:
1. Sponge lumps offers for FeM 80-81 in Gujarat, Ahmedabad hovering at INR 19,000/MT ex-works & excluding of GST.
2. Raipur based Integrated plants offering P-DRI at INR 17,400-17,500/MT which was at INR 17,500-17,600/MT on 30th August.
3. Durgapur based big manufacturers maintain offers at same levels; C-DRI at INR 18,200/MT & P-DRI at INR 17,200/MT for FeM 78.
4. Sunvik Steels in Karnataka kept sponge prices unaltered; offering FeM 80 & 82 C-DRI are INR 17,700/MT and INR 18,100/MT ex-plant
5. Billet exports continue from India’s Western region around USD 520/MT FoB.
6. During current week, Pig iron offers in East India-Durgapur marginally fall by INR 200-300/MT while in Central & South regions it remain unaltered.
7. Market participants are assuming price rise by Large producers for Rebars around INR 1,000/MT for Sep’17 deliveries.
Reference prices as on 31 August 2017
| Particular/Delivery | Size, Grade, Origin | Prices | Change | 1W | 1M | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 18,200 | 0 | 17,800 | 17,700 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 17,600 | – 100 | 17,600 | 16,600 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 18,900 | – 100 | 18,800 | 18,100 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 17,600 | 0 | 17,400 | 16,700 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 17,200 | 0 | 16,800 | 16,700 |
| Ex-Rourkela | Lumps, FeM 78%, +/-1 | 16,500 | – 250 | 16,800 | NA | |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 17,400 | – 100 | 17,500 | 17,050 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 17,200 | – 100 | 17,200 | 16,400 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 29,300 | – 100 | 29,150 | 28,900 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 26,850 | + 50 | 26,400 | 25,950 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 25,900 | – 100 | 25,800 | 25,200 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 26,400 | 0 | 26,300 | 26,050 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 28,200 | + 50 | 27,700 | 27,450 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 28,500 | 0 | 28,750 | 27,500 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 29,700 | – 100 | 29,500 | 29,100 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 27,200 | + 50 | 26,750 | 26,500 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 26,350 | – 50 | 26,300 | 25,500 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 26,900 | – 100 | 26,700 | 26,500 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 28,400 | + 50 | 27,900 | 27,650 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 29,000 | 0 | 29,250 | 28,000 | |
| TMT | Ex-Delhi/NCR | 12MM | 32,950 | 0 | 33,000 | 33,000 |
| Ex-Durgapur | 12MM | 29,800 | – 200 | 29,500 | 29,000 | |
| Ex-Raipur | 12MM | 29,600 | – 200 | 29,500 | 28,800 | |
| Ex-Mumbai | 12MM | 31,600 | 0 | 31,400 | 31,000 | |
| Ex-Chennai | 12MM | 32,750 | 0 | 33,000 | 31,800 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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