On daily basis, Indian Sponge & Billet prices further increase by INR 100-200/MT. The prices increase due to improved demand, however heavy rainfalls in some states keeps over all trades subdued.
On 05 Sept, SteelMint’s price analysis for induction furnaces grade billet (size 125×125 mm) are reported at INR 26,500-29,600/MT (USD 414-462) and Sponge iron assessment produced through coal route are assessed at INR 17,800-19,000/MT (USD 278-297). The all prices are ex-plant & excluding of GST.
Trade Updates:
1. Raipur, Central India based Integrated plants have increase sponge offers by INR 200/MT; offers for FeM 80 P-DRI are reported at INR 17,800-18,000/MT ex-plant & excluding of GST at 18%. However, according to trade participants trades are in the range of INR 17,700-17,800/MT.
2. Raipur based pellet makers have increased domestic offers by INR 200/MT to INR 6,000/MT ex-plant.
3. Big plants in Durgapur have offered P-DRI at INR 17,500/MT with increase price by INR 200/MT against last day trade.
4. Sources reported, BSP’s (SAIL unit) mold scrap traded at INR 23,500/MT FOR Raipur. Pig iron offers in Raipur are hovering at INR 25,200-25,500/MT ex-plant. All prices are excluding of GST.
5. BMM Ispat in South India has offered FeM 79+ P-DRI at INR 17,300/MT ex-Bellary, Karnataka.
6. Sunvik Steels in Karnataka has increased offers by INR 300/MT; offering FeM 80 & 82 sponge C-DRI lumps are INR 18,000/MT & INR 18,400/MT ex-plant, respectively.
Reference prices as on 5 September 2017
| Particular/Delivery | Size, Grade, Origin | Prices | Change | 1W | 1M | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 18,500 | + 200 | 18,300 | 18,300 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 17,900 | + 100 | 17,800 | 17,450 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 19,200 | + 200 | 19,000 | 19,000 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 17,750 | 0 | 17,800 | 17,400 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 17,500 | + 200 | 17,300 | 17,300 |
| Ex-Rourkela | Lumps, FeM 78%, +/-1 | 16,850 | + 150 | 16,800 | NA | |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 17,800 | + 200 | 17,700 | 17,800 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 17,450 | 0 | 17,400 | 17,300 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 29,600 | 0 | 29,650 | 29,800 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 27,000 | + 100 | 26,900 | 26,900 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 26,150 | + 50 | 26,100 | 26,000 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 27,000 | + 200 | 26,650 | 26,800 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 27,800 | 0 | 27,900 | 27,850 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 28,000 | – 250 | 28,750 | 27,800 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 30,100 | + 100 | 30,000 | 30,000 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 27,450 | + 200 | 27,250 | 27,500 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 26,550 | + 50 | 26,400 | 26,500 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 27,500 | + 200 | 27,200 | 27,400 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 28,000 | 0 | 28,100 | 28,050 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 28,500 | – 250 | 29,250 | 28,300 | |
| TMT | Ex-Delhi/NCR | 12MM | 32,300 | 0 | 33,350 | 33,400 |
| Ex-Durgapur | 12MM | 30,100 | + 200 | 30,000 | 29,900 | |
| Ex-Raipur | 12MM | 30,200 | + 200 | 30,000 | 29,600 | |
| Ex-Mumbai | 12MM | 31,000 | – 100 | 31,600 | 31,300 | |
| Ex-Chennai | 12MM | 32,500 | 0 | 33,000 | 32,000 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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