Domestic Sponge & Billet offers further corrected by INR 100-200/MT against last day trades. Inquiries minimal in current circumstances, the industry participants mentioned.
On 14 Sept, SteelMint’s price assessment for induction furnaces billet size 125×125 mm are reported at INR 25,800-28,500/MT (USD 403-445) ex-plant.
While, 78-80 FeM sponge C-DRI price assessment was at INR 17,200-18,100/MT (USD 268-283) ex-plant. Excluding GST at 18%.
Key Updates
1. Odisha (East India) based pellet manufacturer has recently concluded a pellet export deal at around USD 121-123/DMT, CFR China
2. Rungta Mines’ iron ore dispatches increased 1 % M-o-M to 1.87 MnT in Aug’17 compared to 1.85 MnT in Jul’17.
3. Central India, Raipur based sponge manufacturers reduced offers around INR 100/MT to INR 16,700-16,800/MT for P-DRI, ex-plant & excluding of GST at 18%.
4. Durgapur based big manufacturers have further reduced sponge offers by INR 100-200/MT for the day; P-DRI at INR 16,300-16,400/MT & C-DRI at INR 17,400/MT ex-works.
5. Odisha, Rourkela based small size Sponge manufacturers decreases offers by INR 200/MT; FeM 80 C-DRI mix material are reported at INR 17,000-17,200/MT & 100% lumps at INR 17,400-17,500/MT ex-plant & excluding of GST.
6. ILC Iron & Steel, a 350 TPD sponge manufacturer from Karnataka sold FeM 80 P-DRI lump at INR 17,100-17,200/MT ex-plant.
7. Private pig iron manufacturers in east India have reduced prices by INR 500/MT (USD 8). The prices decline in line with constant fall in domestic steel prices.
Reference prices as on 14 September 2017
| Particular/Delivery | Size, Grade, Origin | Prices | Change | 1W | 1M | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 17,350 | – 150 | 18,350 | 18,600 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 17,200 | – 100 | 17,850 | 18,000 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 18,100 | – 200 | 18,800 | 19,200 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 17,600 | – 100 | 18,000 | 18,000 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 16,350 | – 150 | 17,400 | 17,600 |
| Ex-Rourkela | Lumps, FeM 78%, +/-1 | 15,900 | – 100 | 16,800 | 17,000 | |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 16,800 | – 100 | 17,600 | 18,100 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 17,400 | 0 | 17,500 | 17,650 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 28,450 | – 150 | 29,250 | 29,950 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 25,900 | – 100 | 26,600 | 27,100 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 25,400 | – 100 | 26,000 | 26,500 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 26,400 | + 200 | 26,700 | 27,000 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 27,200 | – 100 | 28,000 | 28,900 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 27,750 | – 250 | 28,000 | 28,500 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 28,900 | – 100 | 29,700 | 30,100 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 26,300 | – 100 | 27,000 | 27,650 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 25,800 | – 200 | 26,350 | 26,900 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 26,800 | + 50 | 27,300 | 27,400 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 27,400 | – 100 | 28,200 | 29,100 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 28,000 | – 500 | 28,500 | 29,000 | |
| TMT | Ex-Delhi/NCR | 12MM | 31,500 | – 500 | 32,000 | 33,700 |
| Ex-Durgapur | 12MM | 29,500 | 0 | 29,800 | 29,700 | |
| Ex-Raipur | 12MM | 29,600 | 0 | 30,100 | 29,800 | |
| Ex-Mumbai | 12MM | 30,900 | – 200 | 31,200 | 32,300 | |
| Ex-Chennai | 12MM | 32,250 | 0 | 32,500 | 32,750 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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