Today, Indian Sponge & Billet prices fall about INR 100-300/MT in across major markets except in South region where billet prices remains volatile – Hyderabad reported down fall of INR 500-1,000/MT & in Chennai it increase in same proportion.
In last couple of days domestic inquiries have slowdown, however due to strong trends globally, the producers are assuming further rise in prices. The global scrap prices rally again by USD 5-10/MT in current week.
SteelMint’s domestic price assessment for induction furnaces billet size 125×125 mm are reported at INR 32,800-36,500/MT (USD 504-561). Further the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 20,600-22,300/MT (USD 316-343). The prices mentioned above are ex-plant & excluding GST.
On 8th Mar 2018 (Thursday) INR to USD exchange rate stood at INR 65.15 & BSE Sensex closed at 33,351(+318).
Key Market Updates:
1. According to sources, Vizag Steel concludes 11,008 MT billet export tender for Nepal at around USD 518-520/MT (ex-mill) and the buyers are heard Panchakanya Steel and Himal Iron & Steel, the prime rebar producers based in Birgunj/Bhairahawa in Nepal.
2. BRPL became the largest Indian pellet exporter in Feb’18 with exports at 0.17 MnT, accounting for 29% share in total pellet exports from India.
3. JSW Steel has increased gas based DRI (Sponge iron) prices by INR 500/MT (USD 8) for Mar’18 deliveries. The latest offers heard at INR 23,000-23,500/MT (USD 353-361) ex-Dolvi, Maharashtra & excluding GST.
4. The big plants in Durgapur today decreased sponge prices by INR 300/MT and offered P-DRI at around INR 21,100-21,200/MT.
5. Raipur, Central India based Integrated plants offer reduced by INR 100/MT D-o-D, offering Sponge P-DRI at INR 20,100-20,200/MT & Sponge DR CLO grade at INR 22,200-22,400/MT ex-plant
6. Power supply will continues by JPL for Punjipatra, Raigarh based Furnaces & Rolling mills, reported by the manufacturers. Earlier since 1st Mar’18, the plants were closed due to cut power supply Jindal Power Ltd (JPL).
7. Raigarh based sponge manufacturers selling FeM 80 P-DRI at INR 20,000/MT FoR Raipur.
8. Odisha based medium size sponge manufacturers reported firm offers; FeM 80 C-DRI (70:30 mix material) at INR 20,500-20,600/MT ex-plant & excluding GST.
9. BMM Ispat in South India has kept offers unaltered, offering FeM 80 P-DRI lumps at INR 20,500/MT ex-Bellary, Karnataka.
10. Indian ferrous scrap imports fall by 15% in 2017 & stood at 4.57 MnT in CY17 against 5.35 MnT in CY16
11. Goa based plants have booked 20 ft containerized melting scrap at USD 362/MT, 20 MT loading from West Africa & arrival period would be approximate after couple of months.
12. Rathi Steels in North India – Delhi reduce their price by INR 500/MT today and current offering at INR 39,800/MT, size – 12 mm & excluding 18% GST.
13. Kalika Steel Alloys in Jalna reduce their prices by INR 200/MT D-o-D basis and current offering 28mm rebars at INR 36,800/MT ex-plant & excluding GST.
14. Tulsyan NEC Steel (Tulsyan) based in Chennai has increased price twice from last couple of days & current offering 12mm Rebars at INR 42,000/MT, ex-plant & excluding GST.
15. Raipur Power and Steel Ltd offering Wire Rod (5.5 MM) at INR 38,600/MT & Raw Pellet at INR 6,600/MT, Silico Manganese at INR 73,000/MT, Ex-Mill & Excluding GST.
Reference prices as on 8th March 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 22,300 | 22,200 | 22,400 | – 300 | 22,400 | 21,150 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 20,600 | 20,500 | 20,600 | – 100 | 20,600 | 20,300 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 21,600 | 21,500 | 21,700 | – 100 | 21,450 | 20,700 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 21,300 | 21,200 | 21,400 | 0 | 20,700 | 20,100 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 21,200 | 21,100 | 21,300 | – 300 | 21,300 | 20,150 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 20,100 | 20,000 | 20,200 | – 100 | 20,200 | 19,400 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 20,500 | 20,400 | 20,600 | 0 | 20,000 | 19,300 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 21,000 | 20,900 | 21,100 | 0 | 20,700 | 19,900 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 35,700 | 35,600 | 35,800 | 0 | 35,700 | 33,900 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 33,300 | 33,200 | 33,400 | – 200 | 33,000 | 31,300 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 32,100 | 32,000 | 32,200 | – 200 | 31,600 | 30,300 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 32,600 | 32,500 | 32,700 | – 200 | 32,500 | 31,200 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 34,800 | 34,700 | 34,900 | – 200 | 34,800 | 33,600 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 35,750 | 35,500 | 36,000 | + 750 | 34,000 | 33,500 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 33,800 | 33,800 | 33,900 | – 1,000 | 33,800 | 33,250 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 36,500 | 36,400 | 36,600 | 0 | 36,400 | 34,700 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 33,700 | 33,600 | 33,900 | – 200 | 33,500 | 31,800 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 32,800 | 32,700 | 32,900 | – 200 | 32,350 | 30,900 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 33,300 | 33,200 | 33,400 | – 300 | 33,300 | 31,900 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 35,000 | 34,900 | 35,100 | – 200 | 35,000 | 33,800 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 36,250 | 36,200 | 36,500 | + 750 | 34,500 | 34,000 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 34,000 | 34,000 | 34,200 | – 1,000 | 34,000 | 33,250 | |
| TMT | Ex-Delhi/NCR | 12MM | 38,800 | 38,600 | 39,000 | – 300 | 38,500 | 37,700 |
| Ex-Durgapur | 12MM | 38,500 | 38,300 | 38,700 | 0 | 37,800 | 36,000 | |
| Ex-Raipur | 12MM | 36,800 | 36,600 | 37,000 | – 200 | 36,600 | 35,800 | |
| Ex-Mumbai | 12MM | 39,200 | 38,800 | 39,300 | 0 | 38,800 | 38,500 | |
| Ex-Chennai | 12MM | 40,500 | 40,400 | 41,000 | + 500 | 38,800 | 38,500 | |
| Ex-Hyderabad | 12MM | 39,800 | 39,500 | 40,000 | – 700 | 39,500 | 37,950 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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