In the week opening, domestic Semi finished prices rise further on improved demand. The price rise seen in Sponge iron by INR 100-400/MT & Billet by INR 100-600/MT day on day.
SteelMint’s price assessment for induction furnaces billet size 125×125 mm are reported at INR 31,500-35,500/MT (USD 490-552) ex-plant. Further the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 20,600-21,600/MT (USD 320-336); prices are ex-plant & excluding GST.
On 12th Feb 2018 (Monday) INR to USD exchange rate stood at INR 64.32 & BSE Sensex closed at 34,300 (+294).
Key Market Updates:
1. Vedanta continues to remain the largest iron ore exporter from India & exported about 0.45 MnT in Jan 2018.
2. Central India (Raipur) based pellet manufacturers have concluded a export deal of around 40,000-45,000 MT to China. As per sources, the deal has been concluded at around USD 114/MT, CFR China.
3. Raipur, Central India based Integrated plants offers increased by INR 100-200/MT D-o-D, offering Sponge P-DRI at INR 19,800-20,000/MT ex-plant
4. Rashmi Metaliks in Durgapur offered Sponge P-DRI at INR 20,500/MT with rise price by INR 200/MT day-on-day.
5. Jharsugda, Odisha based Shyam Metaliks offering billet at INR 31,800-31,900/MT (ex-mill) and for export to Nepal at around USD 490-495/MT (ex-mill), an official reported. Also added, P-DRI offers at INR 19,400/MT ex-plant.
6. Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 20,500/MT & billet at INR 31,300-31,400/MT ex-plant.
7. Singhal Steel based in Raigarh offering P-DRI at INR 19,800/MT ex-plant, an official reported and also sold billet at INR 32,600/MT FoR Raipur.
8. BIOP Steels in Karnataka has offered FeM 80 & 82 C-DRI lumps at INR 20,600/MT & INR 20,900/MT ex-plant. According to the officials, deals majorly for Jalna (Maharashtra) and the freight cost reported via road at INR 1,100-1,300/MT.
9. Indian ferrous scrap imports fall by 13% during Jan-Nov’17 & stood at 4.24 MnT against 4.89 MnT in Jan-Nov’16.
10. Melting Scrap prices in Maharashtra increase today by INR 200-500/MT following price rise in billet & sponge.
11. SAIL (Steel Authority of India) had invited a tender for purchase of total 115,075 MT (tentative quantity) silicon manganese & the due date for bid submission is 06 Mar’18.
Reference prices as on 12th February 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 21,550 | 21,500 | 21,600 | + 350 | 21,000 | 22,600 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 20,600 | 20,500 | 20,700 | + 100 | 20,500 | 21,500 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 21,000 | 20,900 | 21,100 | + 200 | 21,100 | 22,300 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 20,600 | 20,500 | 20,700 | + 200 | 20,000 | 21,700 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 20,550 | 20,500 | 20,600 | + 350 | 20,000 | 21,600 |
| Ex-Jharsugda | Lumps, FeM 78%, +/-1 | 19,300 | 19,200 | 19,400 | NA | 19,000 | 20,200 | |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 19,800 | 19,700 | 19,900 | + 100 | 19,700 | 21,200 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,800 | 19,700 | 19,900 | + 200 | 19,200 | 20,800 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 20,300 | 20,200 | 20,400 | + 300 | 19,600 | 21,000 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 34,800 | 34,700 | 34,900 | + 500 | 34,000 | 34,200 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 32,000 | 31,900 | 32,100 | + 300 | 31,200 | 32,300 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 31,100 | 31,000 | 31,200 | + 300 | 30,300 | 31,700 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 32,000 | 31,900 | 32,000 | + 350 | 31,000 | 32,500 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 34,600 | 34,500 | 34,700 | + 600 | 34,000 | 35,100 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 34,000 | 33,800 | 34,200 | – 500 | 33,500 | 34,000 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 33,750 | 33,500 | 34,000 | 0 | 33,000 | 36,000 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 35,500 | 35,400 | 35,600 | + 400 | 34,800 | 35,100 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 32,500 | 32,400 | 32,600 | + 400 | 31,700 | 32,700 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 31,500 | 31,400 | 31,600 | + 200 | 31,000 | 32,100 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 32,600 | 32,500 | 32,700 | + 200 | 31,800 | 33,400 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 34,800 | 34,700 | 34,900 | + 600 | 34,200 | 35,300 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 34,500 | 34,300 | 34,600 | – 500 | 34,000 | 34,500 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 33,750 | 33,500 | 34,000 | 0 | 33,000 | 36,000 | |
| TMT | Ex-Delhi/NCR | 12MM | 38,200 | 38,000 | 38,400 | + 300 | 37,400 | 38,500 |
| Ex-Durgapur | 12MM | 36,400 | 36,200 | 36,600 | + 100 | 36,200 | 36,800 | |
| Ex-Raipur | 12MM | 36,300 | 36,100 | 36,500 | + 200 | 35,600 | 37,200 | |
| Ex-Mumbai | 12MM | 39,100 | 38,700 | 39,200 | + 200 | 38,900 | 39,300 | |
| Ex-Chennai | 12MM | 38,700 | 38,500 | 38,700 | – 300 | 38,500 | 38,500 | |
| Ex-Hyderabad | 12MM | 38,200 | 38,200 | 38,400 | 0 | 37,200 | 39,200 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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