Indian Sponge & Billet prices remain slightly increase today by INR 100-200/MT amid stagnant trade activities in domestic market, SteelMint learnt from trade participants.
SteelMInt’s latest price assessment for induction furnaces billet in Indian market stood at INR 35,400-39,500/MT (USD 531-592) ex-plant. Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 19,700-23,200/MT (USD 295-348); prices are ex-plant & excluding GST.
Rupee & Sensex
— On 2nd May 2018 (Wednesday) INR to USD exchange rate stood at INR 66.71
— BSE Sensex closed at 35,176 (+16) on Tuesday – 2nd May.
Trade Updates
— KIOCL (Kudremukh Iron Ore Company Limited) – a state-owned company with an annual capacity 3.5 MnT iron ore pellets invites a limited export tender for 50,000 MT Pellet (Fe 64%). The tender is going to expire tomorrow i.e 3rd May 2018.
— Raipur based big Sponge plants have further gain prices by INR 100-200/MT to INR 20,300-20,400/MT for P-DRI. Sponge DR-CLO grade prices also raised to 23,500-23,600/MT against last day at INR 23,400-23,500/MT ex-plant.
— Rashmi Metaliks in Durgapur has raised Sponge P-DRI prices by INR 100-200/MT to INR 21,800/MT & Billet at INR 37,200/MT – Sources.
— Vizag Steel’s hike domestic prices by INR 500-1,500/MT (USD 7-5-23) for May’18 deliveries and the price rise observed Rebar by INR 500/MT, Structure by INR 750-1,500/MT, Wire Rod by INR 500-1,000/MT, Pig Iron by INR 1,400/MT & Billet by INR 1,250/MT, as per the company’s price circular w.e.f. 1st May, 2018.
— BMM Ispat one of the major sponge producers in South India which largely supply material to West India based Inductions reported firm prices for P-DRI (FeM 80) at INR 18,800/MT ex-plant, Bellary. Current inquiries are largely reported from Gujarat & Rajasthan and the frieght cost asssessed at INR 1,500-2,000/MT.
— Odisha, Rourkela based manufacturers offering Sponge C-DRI 70:30 mix material in the range of INR 21,200-21,500/MT, however no heathly deals reported. The producers are mostly selling material to North India & in domestic market. Billet offers in Rourkela for 100*100mm hovering at INR 35,600-36,000/MT; Both prices are ex-plant & excluding GST.
— Induction grade Billet producers in East India – Durgapur reported limited export deals for Nepal with the spurred prices. The current export offers stood at INR 555/MT against last week at around USD 540-545/MT; size – 100*100 mm, ex-mill, Durgapur.
Reference prices as on 02nd May 2018
| Products | Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 23,200 | 23,100 | 23,300 | + 300 | 21,900 | 19,600 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 21,300 | 21,200 | 21,400 | 0 | 21,000 | 20,100 | |
| Ex-Raipur | 0-20 mm, -1 mm (20-25%), FeM 82%, +/-1 | 23,600 | 23,500 | 23,700 | + 100 | 23,100 | 21,900 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,700 | 19,600 | 19,800 | 0 | 19,900 | 20,300 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 21,700 | 21,600 | 21,800 | + 200 | 20,500 | 18,000 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 20,300 | 20,200 | 20,400 | + 100 | 19,900 | 19,700 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 18,800 | 18,500 | 18,900 | – 100 | 19,000 | 19,700 | |
| INGOT | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 38,800 | 38,700 | 38,900 | + 100 | 37,700 | 35,800 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 36,700 | 36,600 | 36,800 | + 200 | 35,500 | 32,600 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 35,200 | 35,100 | 35,300 | 0 | 34,600 | 32,000 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 35,000 | 34,900 | 35,100 | 0 | 34,650 | 32,550 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 37,000 | 37,000 | 37,100 | + 200 | 36,300 | 34,600 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 36,500 | 36,400 | 36,600 | 0 | 36,500 | 35,900 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 36,000 | 35,800 | 36,000 | + 300 | 36,200 | 34,200 | |
| BILLET | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 39,500 | 39,400 | 39,600 | + 100 | 38,400 | 36,400 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 37,200 | 37,100 | 37,300 | + 200 | 36,000 | 32,900 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 35,800 | 35,600 | 36,000 | + 100 | 35,000 | 32,400 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 36,000 | 35,900 | 36,100 | 0 | 35,500 | 33,100 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 37,400 | 37,300 | 37,400 | + 400 | 36,500 | 34,800 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 37,000 | 37,000 | 37,300 | 0 | 37,000 | 36,400 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 36,250 | 36,200 | 36,250 | + 250 | 36,500 | 34,500 | |
| TMT | Ex-Delhi/NCR | 12MM | 42,200 | 42,100 | 42,400 | + 500 | 41,200 | 39,100 |
| Ex-Durgapur | 12MM | 41,500 | 41,300 | 41,700 | + 200 | 40,300 | 37,800 | |
| Ex-Raipur | 12MM | 39,800 | 39,600 | 40,000 | + 100 | 39,300 | 36,800 | |
| Ex-Jalna | 12MM | 40,700 | 40,500 | 40,900 | + 600 | 39,900 | 37,900 | |
| Ex-Chennai | 12MM | 41,200 | 41,000 | 41,400 | + 200 | 41,000 | 41,000 | |
| Ex-Hyderabad | 12MM | 40,750 | 40,500 | 41,000 | + 250 | 41,000 | 39,500 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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