Today, Billet prices in South India declined upto INR 500/MT (USD 8), while in rest of markets the prices of both Sponge iron & Billet fluctuated by INR 100-300/MT. The trade activities reported subdued by the market participants.
SteelMint’s price assessment for induction furnaces billet size 125×125 mm are stood at INR 32,000-36,000/MT (USD 492-553) ex-plant. And the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 19,900-21,100/MT (USD 306-324); prices are ex-plant & excluding GST.
On 28th Mar 2018 (Wednesday) INR to USD exchange rate stood at INR 65.14 & BSE Sensex closed at 32,968(-205).
Key Market Updates:
1. Odisha Mining Corporation (OMC) has scheduled its next iron ore e-auction for 329,000 MT iron ore on 04 Apr’18.
2. Central India based pellet makers have reduced pellets prices by INR 300/MT today (28th Mar’18). Offers for Fe 63% grade pellets are now assessed at INR 6,200/MT (basic, GST @ 5% extra)
3. SteelMint’s Indian pellet export price assessment has moved down by USD 5-6/MT, W-o-W. The current assessment for Fe 64% grade pellets stood at USD 96-97/MT FoB India.
4. During the current month, around 3.4 MnT of Coking Coal was imported in India upto the 23rd of the month, data compiled by CoalMint Research shows.
5. The export offers to Nepal for Induction route billets by medium mills in Durgapur reported at USD 500-505/MT, against last week at USD 505-510/MT (ex-mill) Durgapur & size – 100*100mm.
6. Pig iron offers in Central & Eastern India declined further by INR 300-500/MT (USD 4-8) Week-on-Week.
7. Raipur, Central India based Integrated plants offer unaltered, offering Sponge P-DRI at INR 19,400-19,500/MT & Sponge DR CLO grade at INR 21,500-21,600/MT ex-plant
8. Bhaskar Steel and Ferro Alloy Ltd, an Jharsugda-Odisha based plant offered FeM 80 C-DRI at INR 20,000-20,100/MT & billet at around INR 32,000-32,100/MT ex-plant.
9. BMM Ispat in Karnataka has offered sponge P-DRI at INR 19,700/MT and Sunvik Steels sponge C-DRI lumps at INR 20,900/MT. Both offers for FeM 80, excluding GST & ex-plant basis.
10. BIOP Steels in South India has reduced sponge offers by around INR 500/MT, offering FeM 80 & 82 C-DRI lumps at INR 20,300/MT & INR 20,800/MT ex-plant, Karnataka; an official reported.
11. South India based Cauvery Iron & Steel offers FeM 80 P-DRI & billet at INR 20,500/MT & INR 33,500/MT. Also offering 28 mm Rebars at INR 36,500/MT. All prices are ex-plant & excluding GST.
12. Bellary, Karnataka based furnace owners offering billet at INR 34,600/MT on ex-plant basis, majorly deals concluded to Hosur (Tamil Nadu). Freight via road at INR 1,000-1,200/MT
13. Indian finished steel production dropped by around 3.27% with 3.85 MnT in Feb’18 compared to 3.98 MnT in Jan’18.
14. Rathi Steels in North India – Delhi increased their price today by around INR 750/MT and current offering at INR 40,000/MT, size – 12 mm & excluding 18% GST.
15. Raipur Power and Steel Ltd has offered Wire Rod (5.5 MM) at INR 37,800/MT & Pellet at INR 6,200/MT, Ex-Mill & Excluding GST.
16. South India, Chennai based trade participants reported export inquiries for Rebars at around USD 610/MT & Billet at around USD 555-560/MT; CIF basis from South East Asia.
Reference prices as on 28th March 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 20,000 | 19,900 | 20,100 | + 100 | 21,200 | 22,100 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 19,900 | 19,800 | 20,000 | 0 | 20,300 | 20,450 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 21,050 | 21,000 | 21,100 | + 50 | 21,500 | 21,300 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 20,200 | 20,100 | 20,300 | – 100 | 20,900 | 20,600 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 18,600 | 18,500 | 18,700 | + 100 | 19,700 | 21,000 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 19,450 | 19,400 | 19,500 | + 50 | 19,800 | 19,900 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,600 | 19,500 | 19,700 | – 100 | 20,100 | 19,900 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 20,500 | 20,400 | 20,600 | 0 | 20,600 | 20,500 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 35,300 | 35,200 | 35,400 | + 200 | 35,200 | 35,200 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 32,300 | 32,200 | 32,400 | + 100 | 32,700 | 32,800 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 31,400 | 31,300 | 31,500 | + 100 | 31,600 | 31,450 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 32,000 | 31,900 | 32,100 | + 50 | 32,000 | 32,100 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 34,200 | 34,100 | 34,300 | + 100 | 34,000 | 34,600 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 35,400 | 35,300 | 35,500 | – 100 | 35,500 | 34,000 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 33,200 | 33,100 | 33,300 | – 500 | 34,200 | 32,800 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 36,000 | 35,800 | 36,100 | + 200 | 36,000 | 36,000 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 32,600 | 32,500 | 32,700 | 0 | 33,000 | 33,200 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 32,200 | 32,100 | 32,300 | 0 | 32,600 | 32,200 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 32,800 | 32,700 | 32,900 | 0 | 32,900 | 32,800 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 34,400 | 34,300 | 34,400 | + 100 | 34,200 | 34,800 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 35,900 | 35,800 | 36,000 | – 100 | 36,000 | 34,500 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 33,500 | 33,300 | 33,700 | – 500 | 34,500 | 33,000 | |
| TMT | Ex-Delhi/NCR | 12MM | 38,300 | 38,100 | 38,500 | + 300 | 38,800 | 38,200 |
| Ex-Durgapur | 12MM | 37,500 | 37,300 | 37,700 | + 100 | 37,500 | 37,500 | |
| Ex-Raipur | 12MM | 36,800 | 36,600 | 37,000 | 0 | 36,800 | 36,200 | |
| Ex-Mumbai | 12MM | 37,800 | 37,400 | 37,900 | 0 | 37,900 | 38,700 | |
| Ex-Chennai | 12MM | 40,800 | 40,700 | 41,100 | – 200 | 41,000 | 38,800 | |
| Ex-Hyderabad | 12MM | 39,000 | 38,800 | 39,200 | – 500 | 40,000 | 38,500 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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