The prices of Billet & Sponge today further slightly decline by INR 50-200/MT. The manufacturers continue to face low demand over festive season which has led to significant price fall.
For the day, SteelMint’s price assessment for induction furnaces billet size 125×125 mm are reported at INR 25,400-27,500/MT (USD 388-420). While, 78-80 FeM sponge C-DRI price assessment was at INR 15,800-16,700/MT (USD 240-255); prices are ex-plant & excluding GST.
Today (Thursday, September 28, 2017) INR to USD exchange rate stood at INR 65.53 & BSE Sensex closed at 31,282 (+122).
Updates
1. Raipur, Central India based Integrated plants offered Sponge P-DRI at INR 15,300-15,400/MT, however buying interest reported nearly INR 15,100-15,200/MT ex-plant. Sponge DR-CLO offers are reported at INR 17,300-17,400/MT for 0-20mm. However, according to a purchase source in Jalna, Maharashtra Sponge DR-CLO being procured from Raipur at INR 17,100-17,200/MT (ex-plant) for FeM 82 +/-1.
2. Odisha based small plants maintain sponge offers on same levels as a day ago. Offers for FeM 80 C-DRI mix material are heard in the range of INR 16,000-16,200/MT ex-plant.
3. Sunvik Steels offers FeM 80 sponge C-DRI lumps at INR 16,700/MT & FeM 82 at INR 17,100/MT ex-Bellary, Karnataka. The prices are unaltered against on 27 Sept.
4. Raipur based hot rolling mills offering billet at INR 26,000-26,100/MT ex-plant. Meanwhile, few trades being reported at INR 26,000-26,100/MT FOR.
5. Melting scrap offers in Western India- Maharashtra & Gujarat stable today after fell by INR 500-600/MT since start of week.
6. Chinese Finished steel exports offers slump – Wire rod by USD 25-30/MT & Rebars by USD 15-18/MT (W-o-W)
7. Bhushan Steel – a major integrated steel maker has decreased its monthly iron ore & pellet sourcing by 14% M-o-M from 0.4 MnT in Jul’17 to 0.35 MnT in Aug’17
8. Imported scrap offers to India fall further by USD 10-20/MT W-o-W. The fresh offers are assessed at USD 290-300/MT for HMS & USD 310-320/MT for Shreded grade, CFR India. Although, buying interest seen around USD 10-20 lesser than present offers.
Reference prices as on 28 September 2017
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | ||||||
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 16,100 | 16,000 | 16,200 | -50 | 16,900 | 17,600 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 16,700 | 16,600 | 16,800 | -200 | 17,800 | 18,900 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 16,500 | 16,400 | 16,600 | 0 | 17,050 | 17,600 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | ||||||
| Ex-Rourkela | Lumps, FeM 78%, +/-1 | 14,900 | 14,800 | 15,000 | -100 | 15,500 | 16,500 | |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 15,300 | 15,200 | 15,400 | -200 | 16,100 | 17,400 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 16,300 | 16,200 | 16,400 | 0 | 16,700 | 17,200 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 27,900 | 27,800 | 28,000 | -250 | 29,000 | 29,300 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | |||||||
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 25,200 | 25,100 | 25,250 | -50 | 25,800 | 25,900 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 25,650 | 25,600 | 25,700 | -200 | 26,300 | 26,400 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 26,100 | 26,000 | 26,200 | -200 | 27,100 | 28,200 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 27,000 | 26,800 | 27,200 | 0 | 27,750 | 28,500 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 28,400 | 28,300 | 28,500 | -100 | 29,400 | 29,700 |
| Ex-Durgapur | 125×125 mm, IS 2831 | |||||||
| Ex-Rourkela | 125×125 mm, IS 2831 | 25,400 | 25,300 | 25,500 | -100 | 26,100 | 26,350 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 26,050 | 26,000 | 26,100 | -250 | 26,900 | 26,900 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 26,300 | 26,200 | 26,400 | -200 | 27,500 | 28400 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 27,500 | 27,400 | 27,600 | 0 | 28,000 | 29,000 | |
| TMT | Ex-Delhi/NCR | 12MM | 31,700 | 31,600 | 31,800 | 0 | 32,500 | 32,950 |
| Ex-Durgapur | 12MM | |||||||
| Ex-Raipur | 12MM | 28,900 | 28,800 | 29,000 | -150 | 29,700 | 29,600 | |
| Ex-Mumbai | 12MM | 29,900 | 29,500 | 30,000 | -200 | 30,700 | 31,600 | |
| Ex-Chennai | 12MM | 31,500 | 31,400 | 31,600 | 0 | 32,000 | 32,750 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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