Indian Billet & Sponge iron prices have increased today in major markets of Central & East regions. The prices of Billet have increased by INR 200-500/MT & Sponge iron by INR 100-200/MT, day-on-day.
The producers in West & South India reported limited deals as the markets was close mostly due festive holiday. Similar comments being received from Central & Eastern regions.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 35,500-38,500/MT (USD 495-536) ex-plant. Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 24,200-26,400/MT (USD 337-368); prices are ex-plant & excluding GST.
Rupee
— On 13th September 2018 (Thursday) INR to USD exchange rate stood at INR 71.8
Trade Updates – Semi Finished
— SAIL to Auction 9,100 MT Pig iron on 14th Sept’18 from its Rourkela Steel Plant (Rourkela). Prior to this, the last tender was concluded on 5th Sep’18 at the price range of INR 30,600-30,900/MT ex-plant, Rourkela.
— The integrated plants in Raipur & Durgapur have slightly raised sponge prices and reported P-DRI at INR 25,000/MT ex-Raipur & INR 23,700/MT in Durgapur.
— Indian sponge iron export offers steady and are evaluated at USD 370/MT CPT Bepapole (dry port) & USD 390/MT CFR Chittagong. As per exporters deals are taking place at firm prices and buying majorly large mills based in Chittagong in Bangladesh.
— Spogne iron prices in South India likely to remain supported as buying from the Maharashtra, West India continue to remain strong over cheaper offers than the prevalining prices in Central & Eastern India. Freigh cost from South to West (Mumbai) is about INR 1,700-1,900/MT, while from Central & East India is not less than INR 2,200/MT, as per participants.
— Tata Steel is offering Ferroshots (granulated pig iron) at INR 30,000/MT ex-plant, Kalinganagar, Odisha.
— Power cut remain in industrials of West Bengal, East India by major supplier – DVC (Damodar Valley Corportaion), as reported by Ingot/Billet manufacturers.
— Industrial power tariff have increased in Maharashtra – by INR 0.50/unit in jalna, INR 0.09/unit in Wada & INR 0.36/unit in Wardha. The revised power charges are applicable from 1st Sept’18, as per manufacturers.
Finish Long
— Central region, Raipur based brand – SPEED TMT increased their prices by INR 200/MT on day basis and current offering at INR 37,000/MT (28 mm), ex-work & excluding GST.
— Jalna based rebar manufacturer – SRJ Peety Steels Pvt Ltd branding Shree Om TMT increased their (28 mm) rebar prices by around INR 400/MT to INR 37,400/MT, ex-work & excluding GST.
— Jalna based rebar manufacturer Rajuri Steel Pvt Ltd increased their (28 mm) rebar prices by around INR 400/MT to INR 37,400/MT, ex-work & excluding GST.
— East region based – Baba Smelter Pvt. Ltd has unchanged their prices on day basis & current offering Structure (125/150) Channel at INR 42,250/MT, ex-work & excluding GST.
— North region based U.P – K.L Steel Pvt Ltd unchanged their prices on day basis and current offering Heavy Structure at INR 43,800/MT, (ISMB – 250), ex-work & excluding GST.
— The suppliers in Raipur, Central India have maintained trade discount on same levels and today’s discount reported at INR 800-1,000/MT.
Reference prices as on 13th September 2018
| Products | Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 24,700 | 24,600 | 24,800 | +100 | 25,400 | 23,900 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 25,100 | 25,000 | 25,200 | +100 | 25,200 | 22,200 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 26,400 | 26,300 | 26,500 | +200 | 26,500 | 23,550 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 24,200 | 24,100 | 24,300 | +100 | 23,600 | 20,400 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 23,700 | 23,600 | 23,800 | +100 | 24,400 | 22,800 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 25,000 | 24,900 | 25,100 | +100 | 25,200 | 22,700 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 23,700 | 23,600 | 23,800 | 0 | 23,100 | 19,600 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 24,200 | 24,100 | 24,300 | +100 | 23,650 | 20,100 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 38,000 | 38,000 | 38,100 | +500 | 38,200 | 36,950 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 36,300 | 36,200 | 36,400 | +300 | 36,900 | 33,900 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 34,800 | 34,700 | 34,900 | +100 | 35,500 | 32,700 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 35,100 | 35,000 | 35,200 | +250 | 35,900 | 33,400 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 38,500 | 38,400 | 38,600 | +600 | 38,700 | 37,450 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 36,800 | 36,700 | 36,900 | +300 | 37,400 | 34,400 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 35,800 | 35,700 | 35,900 | +200 | 36,300 | 33,300 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 36,100 | 36,000 | 36,200 | +300 | 36,900 | 34,200 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 40,000 | 39,800 | 40,200 | 0 | 41,100 | 38,600 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 41,000 | 40,800 | 41,200 | 0 | 41,300 | 37,500 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 39,000 | 38,800 | 39,100 | +100 | 39,800 | 37,100 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 40,800 | 40,300 | 40,800 | 0 | 40,800 | 38,100 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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