Indian Semis market reported mix price trends where prices of sponge & billet fluctuated by INR 100-300/MT in Central, East & South regions.
However, in Western region – Maharashtra & Gujarat the producers have sharply reduce billet offers upto INR 500/MT (USD 8) looking at limited inquiries by rolling mills.
SteelMint’s price assessments for induction furnaces billet size 125×125 mm are reported at INR 31,800-34,500/MT (USD 497-539) ex-plant.
Further the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 20,100-22,100/MT (USD 314-345); prices are ex-plant & excluding GST.
Today (Tuesday, December 26, 2017) INR to USD exchange rate stood at INR 64.08 & BSE Sensex closed at 34,010 (+70).
Key Market Updates:
1. Major merchant miners in Odisha have further raised iron ore prices, Lump prices by INR 400/MT and fines by INR 200/MT w.e.f. 26 Dec’17.
2. Raipur, Central India based Integrated plants offers increased by INR 100-200/MT D-o-D, offering Sponge P-DRI at INR 20,900-21,000/MT ex-plant
3. Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 20,800/MT & billet at INR 31,800-32,000/MT ex-plant.
4. Singhal Steel offered P-DRI at INR 20,300-20,500/MT ex-plant (Raigarh), an official reported. Also added, few deals of billet concluded for Raipur at 32,600/T FoR.
5. BMM Ispat in Karnataka has offered sponge P-DRI at INR 19,700/MT and Sunvik Steels sponge C-DRI lumps at INR 20,400/MT. Both offers for FeM 80, excluding GST & ex-plant basis.
6. Odisha based manufacturer, Ganesh Metaliks sold Billet to Jalna (Maharashtra) at INR 31,900/MT ex-plant. Offering at around INR 32,000/MT ex-plant; trade activities are good at these offers an official reported.
7. Shakti Ferro based in Chennai has offered billet at INR 32,500/MT & Rebar 12mm at INR 36,000/MT ex-plant & excluding GST.
8. Silico Manganese offers remain firm & assessed at INR 71,500/MT (Ex-Durgapur) and INR 71,000/MT (Ex-Raipur).
9. Vizag Steel (RINL) has increased steel grade pig iron offers by INR 500/MT to INR 24,800/MT ex-plant & excluding GST.
10. Electro Steels, an private pig iron producer in Bokara reported offers at INR 26,000/MT ex-plant & INR 27,000/MT FoR Durgapur. The prices increase around INR 500/MT than the last week deals.
11. The billet producers in Gujarat indicates slight price corrections in local ship breaking scrap prices due to none of healthy deals at current offers of INR 24,000-24,200/MT for HMS (80:20) grade.
Reference prices as on 26th December 2017
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 22,000 | 21,900 | 22,100 | + 300 | 20,100 | 18,700 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 20,800 | 20,700 | 21,000 | + 300 | 19,300 | 18,000 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 22,050 | 22,000 | 22,100 | + 150 | 20,600 | 19,500 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 20,100 | 20,000 | 20,200 | + 400 | 19,000 | 17,400 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 21,000 | 20,900 | 21,100 | + 300 | 19,100 | 17,700 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 20,950 | 20,900 | 21,000 | + 150 | 19,500 | 18,200 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,600 | 19,500 | 19,700 | + 300 | 18,200 | 17,200 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 20,000 | 19,900 | 20,000 | + 300 | 18,800 | 17,600 | |
| Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 33,500 | 33,400 | 33,600 | – 200 | 31,750 | 30,600 | |
| Ingot | Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 31,650 | 31,600 | 31,700 | + 150 | 29,700 | 28,100 |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 30,900 | 30,800 | 31,000 | + 200 | 28,200 | 26,600 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 31,800 | 31,700 | 31,900 | + 100 | 29,100 | 27,250 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 33,900 | 33,800 | 34,000 | – 400 | 31,700 | 29,300 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 32,500 | 32,400 | 32,700 | 0 | 31,300 | 28,000 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 34,000 | 34,000 | 34,500 | 0 | 31,500 | 29,000 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 34,000 | 33,900 | 34,100 | – 200 | 32,300 | 31,100 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 31,900 | 31,800 | 32,000 | + 100 | 30,000 | 28,500 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 31,800 | 31,700 | 32,000 | + 300 | 29,000 | 27,000 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 32,600 | 32,500 | 32,700 | + 100 | 30,050 | 27,800 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 34,100 | 34,000 | 34,200 | – 400 | 32,000 | 29,500 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 33,000 | 32,800 | 33,200 | + 250 | 31,800 | 28,500 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 34,000 | 34,000 | 34,500 | 0 | 31,500 | 29,000 | |
| TMT | Ex-Delhi/NCR | 12MM | 39,500 | 39,000 | 39,900 | + 500 | 35,600 | 34,000 |
| Ex-Durgapur | 12MM | 35,500 | 35,300 | 35,800 | + 500 | 32,600 | 31,300 | |
| Ex-Raipur | 12MM | 36,100 | 35,900 | 36,300 | + 100 | 32,700 | 30,700 | |
| Ex-Mumbai | 12MM | 37,500 | 37,100 | 37,600 | 0 | 35,400 | 32,600 | |
| Ex-Chennai | 12MM | 36,500 | 36,300 | 36,700 | 0 | 35,000 | 31,800 | |
| Ex-Hyderabad | 12MM | 37,000 | 36,800 | 37,200 | 0 | 34,500 | 32,000 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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