On daily analysis, domestic billet & sponge offers fluctuated by INR 100-250/MT due to poor inquiries in the week opening.
SteelMint’s price assessment for induction furnaces billet size 125×125 mm are reported at INR 26,200-28,250/MT (USD 409-442) ex-plant. While, 78-80 FeM sponge C-DRI price assessment was at INR 17,200-18,000/MT (USD 269-281) ex-plant & excluding GST at 18%.
Today (Monday, September 18, 2017) INR to USD exchange rate stood at 64.13 & BSE Sensex closed at 32,423(+151).
Key Updates
1. Central India based Integrated plants have kept P-DRI offers unaltered at INR 16,700/MT and Sponge DR-CLO grade offers by medium size plants are hovering at INR 18,600-18,800/MT; ex-plant & excluding GST.
2. Bhushan Power & Steel is offering FeM 78-80 P-DRI at INR 15,900/MT ex-Jharsuguda, Odisha. The plant has installed capacity of 6,000 MT per day for sponge iron and at present running at 100% capacity, an official reported.
3. BMM Ispat has reduced offers for FeM 80 P-DRI lumps by INR 100/MT to INR 16,900-17,000/MT ex-Bellary, Karnataka.
4. Sunvik Steels in Karnataka has reduced offers by INR 300/MT; offering FeM 80 & 82 sponge C-DRI lumps are INR 17,400/MT & INR 17,800/MT ex-plant, respectively.
5. Power cut remains continue by JSPL for Punjipatra, Raigarh based EAF/IF & Rolling mills.
6. Jindal Steel reduced prices by INR 200-300/MT; Pooled iron offers at INR 22,600/MT & Granulated Pig Iron (Panther shots) at INR 23,600/MT ex-plant, Odisha.
7. Private Pig iron manufacturers in Durgapur, West Bengal reported weak demand; the offers for Steel grade are evaluated at INR 24,300-24,500/MT excluding GST.
8. Indian power plant coal imports have fell 5% M-o-M to 3.917 MnT in Aug’17 against 4.103 MnT in Jul’17.
9. Odisha Government has signed 49 MoUs with national & international steel companies for establishment of new steel plants in the State.
Reference prices as on 18 September 2017
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 17,550 | 17,500 | 17,600 | – 150 | 17,800 | 18,400 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 17,200 | 17,000 | 17,300 | – 200 | 17,700 | 18,000 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 18,000 | 17,900 | 18,100 | 0 | 18,600 | 19,000 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 17,300 | 17,200 | 17,400 | – 100 | 17,800 | 18,000 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 16,650 | 16,600 | 16,700 | – 150 | 16,900 | 17,500 |
| Ex-Rourkela | Lumps, FeM 78%, +/-1 | 15,800 | 15,700 | 15,900 | – 200 | 16,450 | 17,200 | |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 16,700 | 16,600 | 16,800 | 0 | 17,300 | 18,000 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 16,900 | 16,800 | 17,000 | – 100 | 17,500 | 17,700 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 28,900 | 28,800 | 29,000 | + 150 | 28,750 | 29,700 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 26,250 | 26,200 | 26,300 | – 50 | 26,200 | 27,050 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 25,900 | 25,800 | 26,000 | + 100 | 25,800 | 26,400 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 26,700 | 26,600 | 26,800 | 0 | 26,500 | 26,600 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 27,000 | 26,900 | 27,100 | + 250 | 27,600 | 28,250 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 27,750 | 27,700 | 27,800 | 0 | 28,000 | 29,000 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 29,300 | 29,200 | 29,400 | + 100 | 29,200 | 29,900 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 26,650 | 26,600 | 26,700 | – 150 | 26,550 | 27,500 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 26,200 | 26,100 | 26,300 | 0 | 26,300 | 26,700 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 27,250 | 27,200 | 27,300 | 0 | 26,950 | 27,100 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 27,200 | 27,100 | 27,200 | + 200 | 27,800 | 28,450 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 28,000 | 27,800 | 28,200 | 0 | 28,500 | 29,500 | |
| TMT | Ex-Delhi/NCR | 12MM | 32,500 | 32,400 | 32,600 | 0 | 32,000 | 34,150 |
| Ex-Durgapur | 12MM | 29,800 | 29,700 | 29,900 | 0 | 29,700 | 29,800 | |
| Ex-Raipur | 12MM | 30,000 | 29,900 | 30,100 | + 100 | 29,800 | 29,900 | |
| Ex-Mumbai | 12MM | 30,700 | 30,600 | 30,800 | + 200 | 30,900 | 32,400 | |
| Ex-Chennai | 12MM | 32,000 | 31,900 | 32,100 | 0 | 32,500 | 33,000 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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