Today, Indian Billet & Sponge prices slump in the range of INR 100-500/MT (USD 1-8) in major markets except in Western region, Maharashtra where billet prices surge by INR 300-500/MT (USD 5-8) on improved trade activities.
In current circumstances, the industry participants are assuming that trade inquiries to remain subdued on ongoing holiday’s mood in the market.
SteelMint’s price assessments for induction furnaces billet size 125×125 mm are reported at INR 31,100-34,800/MT (USD 488-546) ex-plant. Further the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 20,300-21,700/MT (USD 318-340); prices are ex-plant & excluding GST.
Today (Tuesday, January 23, 2018) INR to USD exchange rate stood at INR 63.78 & BSE Sensex closed at 36,139 (+341).
Key Market Updates:
1. Indian pellet manufacturers and traders have started exploring interest to export market and are eyeing for levels of USD 118-120/MT, CFR China.
2. SAIL has floated two export tenders for billet – 10,800 MT from its Durgapur Steel plant and 8,100 MT from its IISCO Steel plant.
3. Raipur, Central India based Integrated plants have reduced sponge offers by INR 100-200/MT D-o-D and are offering Sponge P-DRI at INR 19,900-20,000/MT ex-plant
4. Rashmi Metaliks in Durgapur has offered Sponge P-DRI at INR 20,700-20,800/MT, decline slitghly according to trade sources.
5. Raipur based manufacturers selling ingot to Hyderabad at INR 31,200/MT ex-plant and freight cost via road at INR 2,100-2,300/MT.
6. Raigarh based manufacturers buying Steel grade pig iron from RSP (Rourkela steel plant) at INR 27,900/MT FoR, advance payment through traders.
7. Local manufacturers in Raigarh are offering 60-14 Silico manganese at INR 68,000-68,500/MT ex-plant
8. Jharsugda, Odisha based Shyam Metaliks offering billet at INR 31,200/MT ex-plant. While export offers to Nepal at around USD 498/MT (ex-mill). an official reported. Also added, P-DRI sold during last couple of days at INR 19,500/MT ex-plant.
9. BMM Ispat in South India (Karnataka) has reduced offers for FeM 80 P-DRI by INR 200/MT to INR 20,000-20,100/MT ex-Bellary, an official reported.
10. Raipur based heavy Structure manufactures increased gauge parity by INR 300/MT in different sizes w.e.f. 23rd Jan’18 and Current price offering of basic Beam 200 is INR – 36,100-36,400/MT ex-mill.
11. Kalika Steel Alloys in Jalna unchanged their prices today and offering 28mm rebars at INR 36,400/MT ex-plant & excluding GST.
12. Gujarat based Akshar TMT has rolled over rebar offers at INR 46,000/MT FOR & including GST at 18%, Size – 20 mm.
13. Mumbai based Ghasiram Structure (SRMM) has increased structure prices by INR 300/MT and Guardian TMT has raised rebar offers by INR 200/MT; day on day.
14. Raipur, Central India based Wire Rod Manufacturers have increased their trade discount to INR 1,400-1,500/MT which was earlier less by INR 200-300/MT from existing level & stimulates improved inquires in the market as per sources.
Reference prices as on 23rd January 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 21,700 | 21,600 | 21,800 | 0 | 22,500 | 22,000 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 20,800 | 20,700 | 20,900 | 0 | 21,500 | 20,800 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 21,300 | 21,200 | 21,400 | 0 | 22,400 | 22,050 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 20,600 | 20,500 | 20,600 | – 100 | 22,000 | 20,100 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 21,000 | 20,900 | 21,100 | – 300 | NA | NA | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 20,700 | 20,600 | 20,800 | 0 | 21,500 | 21,000 |
| Ex-Jharsugda | Lumps, FeM 78%, +/-1 | 19,200 | 19,100 | 19,300 | NA | NA | NA | |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 20,000 | 19,900 | 20,000 | – 100 | 21,250 | 20,950 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 20,000 | 20,000 | 20,100 | – 200 | 21,000 | 19,600 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 20,500 | 20,400 | 20,600 | – 500 | 21,400 | 20,000 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 33,500 | 33,400 | 33,600 | – 100 | 34,000 | 33,500 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 31,300 | 31,200 | 31,400 | 0 | 32,300 | 31,650 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 30,600 | 30,500 | 30,700 | – 200 | 31,700 | 30,900 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 31,200 | 31,100 | 31,300 | – 200 | 32,400 | 31,800 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 34,500 | 34,400 | 34,600 | + 300 | 34,900 | 34,000 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 34,200 | 34,000 | 34,400 | 0 | 34,000 | 32,500 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 34,000 | 34,000 | 34,300 | – 500 | 36,000 | 34,000 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 34,400 | 34,300 | 34,500 | 0 | 34,800 | 34,000 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 31,800 | 31,700 | 31,900 | 0 | 32,700 | 31,900 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 31,150 | 31,100 | 31,200 | – 250 | 32,200 | 31,800 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 32,000 | 31,900 | 32,100 | – 300 | 33,400 | 32,600 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 34,700 | 34,600 | 34,700 | + 300 | 35,100 | 34,200 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 34,800 | 34,800 | 35,000 | 0 | 34,500 | 33,000 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 34,000 | 34,000 | 34,300 | – 500 | 36,000 | 34,000 | |
| TMT | Ex-Delhi/NCR | 12MM | 38,400 | 38,300 | 38,600 | – 300 | 38,800 | 39,500 |
| Ex-Durgapur | 12MM | 35,800 | 35,600 | 36,000 | – 200 | 36,700 | 35,500 | |
| Ex-Raipur | 12MM | 35,700 | 35,500 | 35,900 | – 300 | 37,200 | 36,100 | |
| Ex-Mumbai | 12MM | 39,100 | 38,700 | 39,200 | + 200 | 39,300 | 37,500 | |
| Ex-Chennai | 12MM | 39,250 | 39,200 | 39,500 | 0 | 38,500 | 36,500 | |
| Ex-Hyderabad | 12MM | 37,450 | 37,200 | 37,700 | – 250 | 39,200 | 37,000 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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