In the week opening, Indian Billet & Sponge prices slump in the range of INR 100-500/MT (USD 1-8) in major markets, the trade sentiments remained weak.
SteelMint’s price assessments for induction furnaces billet size 125×125 mm are reported at INR 31,000-34,800/MT (USD 484-543) ex-plant. Further the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 20,000-21,100/MT (USD 312-329); prices are ex-plant & excluding GST.
On 5th Feb 2018 (Monday) INR to USD exchange rate stood at INR 64.16 & BSE Sensex closed at 34,757 (-309).
Key Market Updates:
1. RINL has increased ore sourcing from NMDC Bailadila mines by 48% to 196 rakes in Jan’18 as compared to 132 rakes in Dec’17.
2. RINL has invited a global tender for purchase of 14,000 MT Calcined Petroleum Coke in Visakhapatnam, India. The due date for submitting the offer is 26 Feb’18
3. Raipur, Central India based Integrated plants offer reduced by INR 100-200/MT D-o-D, offering Sponge P-DRI at INR 19,600-19,800/MT & Sponge DR CLO grade at INR 21,900-22,000/MT ex-plant
4. Rashmi Metaliks in Durgapur has reduced sponge prices by INR 400/MT and latest offers heard at INR 20,000/MT for P-DRI.
5. Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 20,800/MT & billet at INR 31,000/MT ex-plant. An official reported trade remains weak.
6. BIOP in South India has offered FeM 80 & 82 C-DRI lumps at INR 20,600/MT & 21,000/MT ex-plant, Karnataka. trade activities are slow at these offers; an official reported.
7. Melting scrap offers in Western India- Maharashtra decline by INR 300/MT D-o-D on softening demand
8. The medium steel plants in Raipur have increase structure (Angle) gauge parity by INR 300/MT for all sizes.
9. Kalika Steel Alloys in Jalna has reduced prices by INR 600/MT D-o-D due to poor inquiries & offered 28 mm rebar at INR 35,800/MT ex-plant & excluding GST.
10. Gujarat based Akshar TMT has decline their rebar offers by INR 300/MT & fresh offers are reported at INR 45,500/MT FoR & including GST at 18%, Size – 20 mm.
11. Rathi Steels, one of the big manufacturer for rebars in North India – Delhi has reduced offers by INR 500/MT to INR 38,425/MT, 12 mm & excluding GST @ 18%.
12. Raipur, Central India based Wire Rod manufacturers have reduced their discount to INR 1,000-1,200/MT from INR 2,000/MT and the current offer of 5.5 mm Wire rod are reported at INR 37,100/MT ex-plant, offers decline by INR 800/MT D-o-D.
Reference prices as on 5th February 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 21,000 | 20,900 | 21,100 | – 400 | 21,600 | 22,100 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 20,500 | 20,400 | 20,600 | 0 | 21,000 | 21,450 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 21,100 | 21,000 | 21,200 | – 100 | 21,400 | 22,300 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 20,000 | 19,900 | 20,100 | – 200 | 20,500 | 20,800 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 20,000 | 19,900 | 20,100 | – 400 | 20,600 | 21,100 |
| Ex-Jharsugda | Lumps, FeM 78%, +/-1 | 19,000 | 18,900 | 19,100 | – 100 | NA | 20,400 | |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 19,700 | 19,600 | 19,800 | – 200 | 20,200 | 21,050 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,200 | 19,100 | 19,300 | – 100 | 19,900 | 20,200 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 19,600 | 19,500 | 19,700 | 0 | 20,500 | 20,200 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 34,000 | 34,000 | 34,100 | – 300 | 34,300 | 33,950 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 31,200 | 31,100 | 31,300 | – 200 | 31,600 | 32,100 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 30,300 | 30,200 | 30,400 | – 400 | 31,000 | 31,250 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 31,000 | 30,900 | 31,100 | – 450 | 31,800 | 32,000 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 34,000 | 33,900 | 34,100 | – 300 | 34,200 | 34,800 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 33,500 | 33,400 | 33,600 | 0 | 33,500 | 34,250 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 33,000 | 33,000 | 33,200 | 0 | 34,000 | 35,000 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 34,800 | 34,700 | 34,900 | – 300 | 34,950 | 34,300 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 31,700 | 31,600 | 31,800 | – 300 | 32,000 | 32,300 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 31,000 | 30,900 | 31,000 | – 100 | 31,500 | 31,800 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 31,800 | 31,700 | 31,900 | – 400 | 32,600 | 32,900 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 34,200 | 34,100 | 34,300 | – 300 | 34,400 | 35,000 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 34,000 | 33,750 | 34,250 | 0 | 34,000 | 34,750 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 33,000 | 33,000 | 33,200 | 0 | 34,000 | 35,000 | |
| TMT | Ex-Delhi/NCR | 12MM | 37,400 | 37,200 | 37,600 | – 500 | 38,200 | 38,700 |
| Ex-Durgapur | 12MM | 36,200 | 36,000 | 36,400 | – 100 | 36,000 | 36,100 | |
| Ex-Raipur | 12MM | 35,600 | 35,400 | 35,800 | – 300 | 36,200 | 36,500 | |
| Ex-Mumbai | 12MM | 38,900 | 38,500 | 39,000 | 0 | 39,300 | 39,200 | |
| Ex-Chennai | 12MM | 38,500 | 38,300 | 38,700 | 0 | 39,500 | 38,600 | |
| Ex-Hyderabad | 12MM | 37,200 | 37,000 | 37,400 | 0 | 37,700 | 38,200 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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