Indian Semis market showed mix trends as the price fluctuated, Sponge by INR 50-150/MT & Billet by INR 100-500/MT on daily analysis.
SteelMint’s price assessments for induction furnaces billet size 125×125 mm are reported at INR 25,500-27,500/MT (USD 391-422) ex-plant.
Further the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 15,400-16,600/MT (USD 236-255); prices are ex-plant & excluding GST.
Today (Wednesday, October 11, 2017) INR to USD exchange rate stood at INR 65.14 & BSE Sensex closed at 31,833 (-90).
Key Updates
1. Vedanta’s saleable Iron ore production down by 14% Y-o-Y in Q2 FY18, as it was 1.2 MnT in Q2 FY18 against 1.5 MnT in Q2 FY17.
2. Tata Steel offering Pooled Iron at INR 21,800/MT & Ferroshots at INR 22,800/MT, Prices are ex-plant & excluding GST
3. Jharsugda, Odisha based manufacturer – Bhushan Power & Steel offers steel grade pig iron at INR 23,750/MT ex-plant. The deals are majorly for Central India (Raipur & Raigarh), officials stated.
4. Odisha based medium size sponge manufacturers reported firm offers; FeM 80 C-DRI (70:30 mix material) at INR 15,700-15,900/MT ex-plant & excluding GST.
5. Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 15,700/MT & billet at INR 25,700/MT ex-plant.
6. Singhal Steel offered P-DRI at INR 14,500/MT ex-plant (Raigarh), an official reported. Also added few deals of billet concluded at INR 26,000/MT FoR Raipur.
7. BMM Ispat in Karnataka has offered sponge P-DRI at INR 16,000-16,100/MT and Sunvik Steels sponge C-DRI lumps at INR 16,700/MT. Both offers for FeM 80, excluding GST & ex-plant basis.
8. Private manufacturers in Odisha & West Bengal have offers induction furnace grade billet for exports at USD 400-410/MT (ex-mill), offers fall by USD 5-10/MT W-o-W.
9. Indian Sponge Iron Export Offers Fall Further by USD 10/MT, W-o-W. The fresh offers are assessed at USD 310-315/MT CPT Benapole port, Bangladesh.
Reference prices as on 11 October 2017
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 16,950 | 16,900 | 17,000 | – 100 | 17,400 | 17,500 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 15,800 | 15,700 | 15,800 | 0 | 15,900 | 17,300 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 16,500 | 16,400 | 16,600 | 0 | 16,500 | 18,300 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 16,250 | 16,200 | 16,300 | – 50 | 16,500 | 17,700 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 16,600 | 16,500 | 16,700 | – 100 | 17,000 | 17,750 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 16,000 | 15,900 | 16,100 | – 150 | 16,500 | 16,500 |
| Ex-Rourkela | Lumps, FeM 78%, +/-1 | 14,400 | 14,300 | 14,500 | 0 | 14,800 | 16,000 | |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 15,000 | 14,900 | 15,100 | 0 | 15,200 | 16,900 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 16,000 | 15,900 | 16,100 | – 100 | 16,500 | 17,400 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 16,700 | 16,500 | 17,000 | 0 | 17,000 | 17,800 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 28,250 | 28,200 | 28,300 | – 150 | 27,950 | 28,600 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 25,900 | 25,800 | 26,000 | + 50 | 26,000 | 26,000 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 25,300 | 25,200 | 25,400 | 0 | 25,450 | 25,500 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 25,500 | 25,400 | 25,600 | – 50 | 25,950 | 26,200 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 26,000 | 25,900 | 26,100 | + 100 | 25,900 | 27,300 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 27,000 | 26,800 | 27,200 | 0 | 27,000 | 28,000 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 26,000 | 25,750 | 26,000 | + 500 | 26,500 | 28,000 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 28,700 | 28,600 | 28,800 | – 100 | 28,400 | 29,000 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 26,350 | 26,300 | 26,400 | + 100 | 26,500 | 26,400 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 25,550 | 25,500 | 25,600 | 0 | 25,800 | 26,000 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 26,000 | 25,900 | 26,200 | – 100 | 26,500 | 26,750 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 26,200 | 26,200 | 26,300 | + 100 | 26,100 | 27,500 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 27,500 | 27,400 | 27,600 | 0 | 27,500 | 28,500 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 26,000 | 25,750 | 26,000 | + 500 | 26,500 | 28,000 | |
| TMT | Ex-Delhi/NCR | 12MM | 32,500 | 32,400 | 32,600 | 0 | 31,700 | 32,000 |
| Ex-Durgapur | 12MM | 29,500 | 29,300 | 29,700 | 0 | 29,500 | 29,500 | |
| Ex-Raipur | 12MM | 28,800 | 28,600 | 29,000 | – 100 | 29,200 | 29,600 | |
| Ex-Mumbai | 12MM | 29,400 | 29,000 | 29,500 | + 300 | 29,400 | 31,100 | |
| Ex-Chennai | 12MM | 31,000 | 30,900 | 31,100 | 0 | 31,500 | 32,250 | |
| Ex-Hyderabad | 12MM | 28,900 | 28,800 | 29,000 | + 400 | 29,500 | 30,800 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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