Indian Sponge & Billet offers witness further rise by INR 100-400/MT on 13th Feb’18 across major markets. According to the market participants inquiries remains strong with the price rise.
SteelMint’s price assessments for induction furnaces billet size 125×125 mm are reported at INR 31,600-35,700/MT (USD 492-556) ex-plant. Further the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 20,600-21,600/MT (USD 321-336); prices are ex-plant & excluding GST.
On 13th Feb 2018 (Tuesday) INR to USD exchange rate stood at INR 64.25 & BSE Sensex closed due to Maha Shivratri festival .
Key Market Updates:
1. NMDC’s Iron ore production increased by 8% (M-o-M) to 3.64 MnT in Jan’18 against 3.37 MnT in Dec’17
2. Bhushan Steel’s Iron ore procurement declined by 36% M-o-M in Jan’18 & stood at 0.27 MnT against 0.42 MnT in Dec’17
3. Indian sponge iron export offers down by USD 10/MT W-o-W, price assessment for 80 FeM sponge lumps are at around USD 375-380/MT CPT Benapole (land port of Bangladesh and India).
4. Nepal’s billet imports decline by 9% to 70,695 MT in a month during 15th Dec’17 to 14th Jan’18 (Nepalese calendar year).
5. Raipur, Central India based Integrated plants offers increased by INR 200/MT D-o-D, offering Sponge P-DRI at INR 20,000-20,200/MT ex-plant
6. Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 20,400-20,500/MT & billet at INR 31,300-31,400/MT ex-plant an official reported. And added export deal of 2 rakes billet to Nepal a day ago at around USD 495/MT (ex-mill).
7. Rashmi Metaliks in Durgapur offered Sponge P-DRI at INR 20,600-20,700/MT with hike of INR 100-200/MT day on day.
8. Odisha based manufacturer, Ganesh Metaliks offered Billet at INR 31,800/MT ex-plant.
9. BMM Ispat in South India (Karnataka) has increased offers for FeM 80 P-DRI by INR 200/MT to INR 20,000/MT ex-Bellary, an official reported. A day before sold around 3,000 MT to Hyderabad at INR 19,800/MT on ex-plant basis
10. BIOP Steels in South India has increased sponge offers by around INR 100-200/MT, offering FeM 80 & 82 C-DRI lumps at INR 20,700/MT & INR 21,200/MT ex-plant, Karnataka; officials reported.
11. HMS Scrap prices in West India increased by INR 200-300/MT (D-o-D) as market seems to be have well demand and with surge in Semi finished along with Finish long steel prices.
12. Durpapur, East India based – Shree Parasnath Re Rolling Mill Ltd increased Wire rod prices by INR 400-500/MT & are reported 5.5 mm at INR 37,700/MT ex-work & excluding GST.
13. Kalika Steel Alloys in Jalna increased rebar prices by INR 200/MT D-o-D basis & offering 28 mm at INR 36,400/MT ex-plant & excluding GST.
14. Bellary based manufacturers sold billet to Tamil-Nadu (Chennai) at INR 33,500/MT on ex-work basis and freight cost reported at around INR 1,000/MT.
15. Rathi Steels in North India – Delhi has increased rebar price by around INR 600/MT and offering 12 mm at INR 40,000/MT ex-works & excluding GST.
16. Raipur, Central India based Wire Rod manufacturers have increased offers by INR 200/MT and offered 5.5 mm Wire rod at INR 37,900/MT ex-plant and trade discounts at around INR 1,200-1,300/MT.
17. GK TMT offers increased in Raipur by INR 300/MT and are reported 28 mm at INR 36,600/MT ex-plant. According to the officials, there is no major stock with them and are receiving healthy inquiries at present.
Reference prices as on 13th February 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 21,600 | 21,500 | 21,700 | + 50 | 20,800 | 22,500 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 20,600 | 20,500 | 20,700 | 0 | 20,300 | 21,500 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 21,400 | 21,300 | 21,500 | + 400 | 20,700 | 22,400 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 20,700 | 20,600 | 20,800 | + 100 | 20,000 | 22,000 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 20,600 | 20,500 | 20,700 | + 50 | 19,700 | 21,500 |
| Ex-Jharsugda | Lumps, FeM 78%, +/-1 | 19,400 | 19,300 | 19,500 | + 100 | NA | NA | |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 20,000 | 19,900 | 20,100 | + 200 | 19,500 | 21,250 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,900 | 19,800 | 20,000 | + 100 | 19,200 | 21,000 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 20,400 | 20,300 | 20,500 | + 100 | 19,600 | 21,400 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 34,900 | 34,800 | 35,000 | + 100 | 33,700 | 34,000 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 32,000 | 31,900 | 32,100 | 0 | 30,900 | 32,300 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 31,000 | 31,000 | 31,100 | – 100 | 30,000 | 31,700 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 32,000 | 31,900 | 32,100 | 0 | 30,550 | 32,400 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 34,700 | 34,600 | 34,800 | + 100 | 33,500 | 34,900 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 34,000 | 33,800 | 34,200 | 0 | 33,500 | 34,000 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 34,000 | 33,800 | 34,000 | + 250 | 32,500 | 36,000 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 35,700 | 35,600 | 35,800 | + 200 | 34,600 | 34,800 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 32,550 | 32,500 | 32,600 | + 50 | 31,400 | 32,700 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 31,600 | 31,500 | 31,700 | + 100 | 30,700 | 32,200 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 32,700 | 32,600 | 32,800 | + 100 | 31,300 | 33,400 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 34,900 | 34,800 | 35,000 | + 100 | 33,700 | 35,100 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 34,500 | 34,300 | 34,700 | 0 | 34,000 | 34,500 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 34,000 | 33,800 | 34,000 | + 250 | 32,500 | 36,000 | |
| TMT | Ex-Delhi/NCR | 12MM | 38,800 | 38,600 | 39,000 | + 600 | 37,200 | 38,800 |
| Ex-Durgapur | 12MM | 36,500 | 36,300 | 36,700 | + 100 | 35,900 | 36,700 | |
| Ex-Raipur | 12MM | 36,300 | 36,100 | 36,500 | 0 | 35,200 | 37,200 | |
| Ex-Mumbai | 12MM | 39,100 | 38,700 | 39,200 | 0 | 38,500 | 39,300 | |
| Ex-Chennai | 12MM | 38,700 | 38,500 | 38,700 | 0 | 38,500 | 38,500 | |
| Ex-Hyderabad | 12MM | 38,700 | 38,500 | 38,700 | + 500 | 37,200 | 39,200 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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