Today, domestic Semi finished prices increased marginally on improved demand, the price rise seen in Sponge iron by INR 100-200/MT & Billet by INR 200-500/MT day-on-day.
SteelMint’s price assessments for induction furnaces billet size 125×125 mm are reported at INR 31,000-34,800/MT (USD 481-540) ex-plant. Further the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 20,200-21,050/MT (USD 314-327); prices are ex-plant & excluding GST.
On 9th Feb 2018 (Friday) INR to USD exchange rate stood at INR 64.39 & BSE Sensex closed at 34,005 (-407).
Key Market Updates:
1. JSPL has concluded pellet export deal of about 50,000 MT at around USD 116/MT, CFR China. The shipment for the material will be in the mid of current month (Feb’18).
2. Indian billet (induction route) exporters turn active on improved demand from South East Asian mills. According to market participants in Western India, Gujarat based big manufacturer has concluded a billet export deal of 10,000 MT at around USD 520-525/MT CNF Indonesia.
3. Raipur, Central India based Integrated plants offers increased by INR 200/MT D-o-D, offering Sponge P-DRI at INR 19,500-19,600/MT ex-plant
4. Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 20,000/MT & billet at INR 30,800-31,000/MT ex-plant.
5. Odisha based manufacturer, Ganesh Metaliks offered billet at INR 31,000/MT ex-plant, an official reported. And added, export deal of a rake billet have concludes to Nepal at USD 485/MT on ex-plant basis.
6. BMM Ispat in South India (Karnataka) has increased offers for FeM 80 P-DRI by INR 300/MT to INR 19,600/MT ex-Bellary, an official reported.
7. BIOP Steels in South India has increased sponge offers by around INR 100/MT, offering FeM 80 & 82 C-DRI lumps at INR 20,500/MT & INR 20,900/MT ex-plant, Karnataka; an official reported.
8. Shakti Ferro in Chennai, South Region has offered Rebar (12 mm) at INR 38,500/MT & Billet at INR 34,000/MT as of today, Ex – Work, Excluding GST.
9. South India – Chennai based 4-5 plants have shut down by government officials with an initiative to control pollution affects as per market sources & may get resume within 7-8 days. These plants includes standalone billet manufacturers and couple of integrated plants.
10. The big plants in Raipur & Durgapur rolled over Wire rod (5.5mm) prices for the day at INR 37,100/MT & INR 36,300/MT ex-plant, respectively.
Reference prices as on 9th February 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 21,050 | 21,000 | 21,100 | – 100 | 21,500 | 22,000 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 20,400 | 20,300 | 20,500 | + 100 | 20,800 | 21,000 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 20,700 | 20,600 | 20,800 | 0 | 21,200 | 21,600 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 20,200 | 20,100 | 20,300 | + 100 | 20,200 | 20,700 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 20,050 | 20,000 | 20,100 | – 100 | 20,500 | 21,000 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 19,600 | 19,500 | 19,600 | + 200 | 19,900 | 20,500 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,500 | 19,400 | 19,600 | + 200 | 19,300 | 20,100 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 19,900 | 19,800 | 20,000 | 0 | 19,600 | 20,400 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 34,050 | 34,000 | 34,100 | + 150 | 34,600 | 33,500 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 31,500 | 31,400 | 31,600 | + 200 | 31,500 | 31,700 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 30,400 | 30,300 | 30,500 | + 100 | 30,850 | 30,900 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 31,400 | 31,300 | 31,500 | + 200 | 31,500 | 31,600 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 33,800 | 33,700 | 33,900 | + 200 | 34,250 | 34,800 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 33,500 | 33,400 | 33,600 | 0 | 34,000 | 34,000 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 33,750 | 33,500 | 34,000 | + 500 | 33,000 | 34,500 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 34,800 | 34,700 | 34,900 | + 100 | 35,300 | 34,400 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 32,000 | 31,900 | 32,100 | + 200 | 32,100 | 32,000 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 31,000 | 30,900 | 31,100 | + 100 | 31,300 | 31,500 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 32,100 | 32,000 | 32,100 | + 200 | 32,200 | 32,600 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 34,000 | 33,900 | 34,100 | + 200 | 34,500 | 35,000 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 34,000 | 33,900 | 34,100 | 0 | 34,500 | 34,500 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 33,750 | 33,500 | 34,000 | + 500 | 33,000 | 34,500 | |
| TMT | Ex-Delhi/NCR | 12MM | 37,700 | 37,500 | 37,900 | 0 | 37,900 | 37,800 |
| Ex-Durgapur | 12MM | 36,100 | 35,900 | 36,300 | + 100 | 36,300 | 35,900 | |
| Ex-Raipur | 12MM | 35,900 | 35,700 | 36,100 | + 100 | 35,900 | 36,000 | |
| Ex-Mumbai | 12MM | 38,700 | 38,300 | 38,800 | + 200 | 38,900 | 39,000 | |
| Ex-Chennai | 12MM | 38,500 | 38,400 | 38,600 | 0 | 39,000 | 38,500 | |
| Ex-Hyderabad | 12MM | 38,200 | 38,000 | 38,200 | + 250 | 37,200 | 37,700 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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