In the week opening, domestic Sponge & Billet market observed slight price fluctuation of INR 100-300/MT amid thin trade activities.
SteelMint’s price assessment for induction furnaces billet size 125×125 mm are reported at INR 25,500-27,500/MT (USD 390-421) ex-plant.
Further the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 15,600-16,500/MT (USD 239-253); prices are ex-plant & excluding GST.
In context to weekly price changes, the sponge offers down by INR 100-300/MT (USD 1-5) & Billet by INR 200-800/MT ( USD 3-12).
Today (Monday, October 9, 2017) INR to USD exchange rate stood at INR 65.35 & BSE Sensex closed at 31,846 (+32).
Key Updates
1. According to the SteelMint’s assessment of pellets, India registered a growth of around 47% Q-o-Q & exported around 2.41 MnT pellets in Q2 FY18 against 1.64 MnT in Q1 FY18.
2. Steel grade pig iron offers by a Raipur based manufacturer is reported at INR 25,000/MT (ex-plant) amid minimal inquiries.
3. India’s export offers for C-DRI lumps with Sulphur 0.03-0.05%, Phosphorus 0.05-0.07 & carbon max at 0.11-0.12% are reported around USD 320-325/MT CPT Benapole port, Bangladesh.
4. Raipur based an Integrated plant sold bulk quantity of P-DRI at INR 14,800-15,000/MT on 07th Oct. Thus, today the offer increase and are assessed at INR 15,000-15,200/MT ex-plant.
5. Durgapur, East India based big plants maintain offers at same range and are assessed at INR 16,200/MT for P-DRI & INR 17,000-17,100/MT for C-DRI.
6. Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 15,800/MT & billet at INR 25,400-25,500/MT ex-plant.
7. Sunvik Steels in Karnataka kept sponge prices unaltered; offering FeM 80 & 82 C-DRI are INR 17,700/MT and INR 18,100/MT ex-plant
8. Indian Billet exports have registered a gain of 45.45% M-o-M in July’17 against 110,000 MT in June’17. Meanwhile, fresh exports offers for blast furnace grade billet are assessed at USD 480-490/MT.
9. Maharashtra, Jalna Rebars selling to Chhattisgarh (Border based markets). The offers for 12 mm rebar are reported at INR 27,500-28,000/MT ex-Jalna & INR 28,500-29,000/MT ex-Raipur.
10. Small scale industries in Raipur today have reduced light structure offers by INR 200/MT owing to low demand.
Reference prices as on 9 October 2017
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 17,050 | 17,000 | 17,100 | 0 | NA | 17,800 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 15,800 | 15,700 | 15,800 | + 100 | 16,000 | 17,700 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 16,500 | 16,400 | 16,600 | + 200 | 16,500 | 18,600 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 16,300 | 16,200 | 16,400 | – 100 | 16,250 | 17,800 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 16,200 | 16,100 | 16,200 | 0 | NA | 16,900 |
| Ex-Rourkela | Lumps, FeM 78%, +/-1 | 14,500 | 14,400 | 14,600 | 0 | 14,800 | 16,450 | |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 15,000 | 14,900 | 15,100 | + 200 | 15,100 | 17,300 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 16,100 | 16,000 | 16,200 | – 100 | 16,100 | 17,500 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 28,200 | 28,100 | 28,200 | + 200 | 28,250 | 28,750 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 25,800 | 25,700 | 25,900 | 0 | NA | 26,200 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 25,200 | 25,100 | 25,300 | + 100 | 25,100 | 25,800 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 25,600 | 25,550 | 25,650 | 0 | 25,850 | 26,500 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 25,750 | 25,700 | 25,800 | + 50 | 26,000 | 27,600 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 27,000 | 26,800 | 27,200 | 0 | 27,000 | 28,000 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 28,600 | 28,500 | 28,700 | + 200 | 28,700 | 29,200 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 26,200 | 26,100 | 26,300 | + 50 | NA | 26,550 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 25,550 | 25,500 | 25,600 | + 50 | 25,400 | 26,300 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 26,100 | 26,000 | 26,200 | 0 | 26,200 | 26,950 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 26,000 | 26,000 | 26,100 | + 100 | 26,200 | 27,800 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 27,500 | 27,400 | 27,600 | 0 | 27,500 | 28,500 | |
| TMT | Ex-Delhi/NCR | 12MM | 32,400 | 32,300 | 32,500 | + 500 | 31,700 | 32,000 |
| Ex-Durgapur | 12MM | 29,500 | 29,300 | 29,700 | + 100 | NA | 29,700 | |
| Ex-Raipur | 12MM | 28,900 | 28,700 | 29,100 | 0 | 29,200 | 29,800 | |
| Ex-Mumbai | 12MM | 29,100 | 28,700 | 29,200 | + 100 | 29,700 | 30,900 | |
| Ex-Chennai | 12MM | 31,000 | 30,900 | 31,100 | 0 | 31,500 | 32,500 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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