Indian billet and sponge prices remain slightly fall by INR 100-300/MT on 08 Sept due to weak trade sentiments in domestic market, trade participants reported.
SteelMint’s price assessments for induction furnaces billet size 125×125 mm are reported at INR 26,300-29,100/MT (USD 410-455) ex-plant.
While, coal based sponge C-DRI price assessment was at INR 17,800-18,700/MT (USD 278-292) ex-plant.
Key Market Updates:
1. Indian pellet exports up by 42% in Aug’17 with the quantity of 0.93 MnT against 0.66 MnT in Jul’17.
2. Odisha Mining Corporation (OMC) Iron ore e-auction held on 7 Sept’17 received good response as 100% material booked. The offered quantity was at 292,000 MT Iron ore fines.
3. Imported scrap offers to India remains stable due to less demand, offers for HMS 1&2 (80:20) Dubai origin containers stood at USD 315/MT, CFR Nhava Sheva.
4. According to sources, Integrated plants in Raipur are offering sponge P-DRI at INR 17,500/MT and DR-CLO grade sponge by medium size plants at INR 19,500/MT ex-plant & excluding of GST.
5. Durgapur based small size sponge manufacturers have reduced offers by INR 200/MT; offering FeM 78 P-DRI at INR 17,200/MT, basic & excluding of GST.
6. Today Power supply resume by JSPL for Punjipatra, Raigarh based EAF/IF & Rolling mills, reported by the manufacturers.
7. Raigarh, Central India based smelters buying 79-80 FeM P-DRI from Jharsuguda (Odisha) at INR 16,400-16,500/MT ex-works.
8. Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 17,700-17,800/MT & billet at INR 26,300/MT ex-plant.
9. BMM Ispat in South India has offered FeM 80 P-DRI lumps at INR 17,500/MT ex-Bellary, Karnataka. Another manufacturer namely Sunvik Steels kept sponge offers unaltered; FeM 80 C-DRI at INR 18,500/MT. The both prices are ex-plant & excluding of GST.
10. Indian billet export price assessment for bulk shipments increase this week on recent export tender. Offers for 90*90 mm billet are assessed at USD 525-530/MT FoB against USD 520-525/MT last week.
Reference prices as on 8 September 2017
| Particular/Delivery | Size, Grade, Origin | Prices | Change | 1W | 1M | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 18,200 | – 150 | 18,100 | 17,850 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 17,800 | – 50 | 17,500 | 17,450 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 18,700 | – 100 | 18,800 | 18,800 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 17,800 | – 200 | 17,500 | 17,450 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 17,200 | – 200 | 17,100 | 16,850 |
| Ex-Rourkela | Lumps, FeM 78%, +/-1 | 16,600 | – 200 | 16,500 | NA | |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 17,500 | – 100 | 17,300 | 17,500 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 17,500 | 0 | 17,200 | 17,400 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 29,250 | 0 | 29,250 | 29,350 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 26,500 | – 100 | 26,750 | 26,400 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 26,050 | + 50 | 25,800 | 25,950 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 26,850 | + 150 | 26,350 | 26,400 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 27,800 | – 200 | 28,100 | 28,200 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 28,000 | 0 | 28,250 | 28,250 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 29,700 | 0 | 29,600 | 29,500 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 26,900 | – 100 | 27,100 | 27,000 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 26,350 | 0 | 26,250 | 26,500 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 27,200 | – 100 | 26,850 | 26,900 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 28,000 | – 200 | 28,350 | 28,400 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 28,500 | 0 | 28,750 | 28,750 | |
| TMT | Ex-Delhi/NCR | 12MM | 32,000 | 0 | 32,700 | 33,400 |
| Ex-Durgapur | 12MM | 29,800 | 0 | 29,800 | 29,700 | |
| Ex-Raipur | 12MM | 29,900 | – 200 | 29,500 | 29,300 | |
| Ex-Mumbai | 12MM | 31,300 | + 100 | 31,600 | 31,800 | |
| Ex-Chennai | 12MM | 32,500 | 0 | 32,500 | 32,250 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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