In the week opening, Sponge & Billet offers in pan India fluctuate by INR 100-200/MT except in South region where offers for both the products increase about INR 300/MT.
As per SteelMint’s assessment on 23rd Oct’17, the prices for FeM 78-80 C-DRI sponge are reported at INR 16,000-17,100/MT (USD 246-263) and induction furnaces grade billet (size 125×125 mm) are at INR 25,500-27,800/MT (USD 392-428) ex-works & excluding GST.
Today (Monday, October 23, 2017) INR to USD exchange rate stood at INR 65.02 & BSE Sensex closed at 32,506 (+116).
Trade Updates:
1. 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 at USD 310/MT CPT Benapole port, Bangladesh against last week assessment of USD 310-315/MT.
2. In Odisha, Pooled iron & Granulated Pig iron offers fall about INR 500/MT. The fresh offers are reported – Pooled iron at INR 21,000-21,200/MT & Granulated pig iron at INR 22,200-22,300/MT ex-plant & excluding GST.
3. Raipur based Integrated plants have increase sponge prices by INR 100/MT D-o-D, P-DRI offers are at INR 15,700-15,800/MT & DR-CLO at INR 17,800-18,000/MT ex-plant and excluding GST.
4. Odisha based medium size sponge manufacturers reported firm offers; FeM 80 C-DRI (70:30 mix material) at INR 16,000-16,100/MT ex-plant & excluding GST.
5. Durgapur – West Bengal based big manufacturers offers P-DRI at INR 16,400/MT & C-DRI at INR 17,000-17,100/MT; offers decline by INR 100/MT D-o-D.
6. Last Saturday, Sunvik Steels in Karnataka has increased sponge prices by INR 300/MT; offering FeM 80 & 82 C-DRI are INR 17,400/MT and INR 17,800/MT. All prices are ex-works.
7. According to SAIL’s official, the rebar offers are unaltered for rest of Oct’17 deliveries.
Reference prices as on 23rd October 2017
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 17,000 | 16,900 | 17,100 | – 100 | 17,200 | 17,500 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 16,000 | 16,000 | 16,100 | + 100 | 15,750 | 16,300 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 17,100 | 17,000 | 17,200 | + 100 | 16,800 | 17,300 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 16,800 | 16,800 | 17,000 | + 200 | 16,400 | 16,500 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 17,000 | 16,900 | 17,000 | + 150 | 16,700 | 17,200 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 16,300 | 16,200 | 16,400 | 0 | 16,400 | 16,600 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 15,800 | 15,700 | 15,900 | + 100 | 15,300 | 15,800 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 16,600 | 16,500 | 16,700 | + 300 | 16,150 | 16,300 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 17,000 | 16,900 | 17,200 | + 200 | 16,700 | 17,200 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 28,150 | 28,100 | 28,200 | – 200 | 28,300 | 28,500 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 26,000 | 25,900 | 26,100 | 0 | 26,000 | 26,000 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 25,100 | 25,000 | 25,200 | – 100 | 25,250 | 25,400 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 25,500 | 25,400 | 25,600 | – 150 | 25,500 | 26,050 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 26,300 | 26,200 | 26,400 | – 150 | 26,200 | 26,600 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 27,250 | 27,000 | 27,500 | + 250 | 27,000 | 27,300 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 27,100 | 27,000 | 27,200 | 0 | 26,500 | 27,000 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 28,500 | 28,400 | 28,600 | – 200 | 28,700 | 29,000 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 26,400 | 26,300 | 26,500 | 0 | 26,400 | 26,600 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 25,500 | 25,400 | 25,600 | 0 | 25,550 | 25,800 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 26,100 | 26,100 | 26,200 | 0 | 25,950 | 26,550 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 26,500 | 26,500 | 26,600 | – 50 | 26,400 | 26,800 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 27,750 | 27,500 | 28,000 | + 250 | 27,500 | 27,500 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 27,100 | 27,000 | 27,200 | 0 | 26,500 | 27,000 | |
| TMT | Ex-Delhi/NCR | 12MM | 32,500 | 32,300 | 32,700 | – 100 | 32,800 | 32,100 |
| Ex-Durgapur | 12MM | 29,500 | 29,300 | 29,700 | – 100 | 29,600 | 29,500 | |
| Ex-Raipur | 12MM | 28,800 | 28,600 | 29,000 | – 300 | 28,800 | 29,300 | |
| Ex-Mumbai | 12MM | 29,900 | 29,500 | 30,000 | 0 | 29,700 | 30,500 | |
| Ex-Chennai | 12MM | 31,500 | 31,000 | 32,000 | + 600 | 31,000 | 31,600 | |
| Ex-Hyderabad | 12MM | 30,100 | 30,000 | 30,200 | 0 | 29,500 | 29,700 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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