Today, domestic Semi finished prices moved downward on slowdown demand. The prices seen fall for both Sponge & Billet by INR 100-500/MT day on day.
SteelMint’s price assessments for induction furnaces billet size 125×125 mm are reported at INR 31,500-34,400/MT (USD 490-536) ex-plant.
Further the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 20,100-21,900/MT (USD 313-341); prices are ex-plant & excluding GST.
Today (Wednesday, December 27, 2017) INR to USD exchange rate stood at INR 64.15 & BSE Sensex closed at 33,911 (-98).
Key Market Updates:
1. Raipur based big plants offering P-DRI at INR 20,500-20,700/MT which was at INR 20,800-21,000/MT on 26th December.
2. Rashmi Metaliks in Durgapur-East India today reduced sponge prices by INR 300-400/MT and the fresh offers for P-DRI are reported at INR 20,500-20,600/MT – sources.
3. Singhal Steel sold P-DRI at INR 20,000/MT ex-plant (Raigarh), an official reported. Also added, few deals of billet concluded for Raipur at 32,500/T FoR.
4. A day before, Monnet Ispat sold 500 ton P-DRI at INR 20,500/MT ex-plant, Raigarh, an official reported. And added trade remains limited on fresh offers for the day.
5. Odisha based medium size sponge manufacturers reduced offers by INR 200/MT and are offering FeM 80 C-DRI (70:30 mix material) at INR 20,600-20,700/MT ex-plant & excluding GST.
6. BMM Ispat in South India has kept offers unaltered, offering FeM 80 P-DRI lumps at INR 18,700/MT ex-Bellary, Karnataka.
7. BIOP Steels in South India has offered FeM 80 & 82 C-DRI lumps at INR 20,300/MT & 20,700/MT ex-plant, Karnataka. trade activities are weak at these offers; an official reported.
8. Hare Krishna, a 300 TPD sponge manufacturer in Bellary, Karnataka has offered 80 FeM P-DRI at INR 19,400-19,600/MT ex-plant.
9. Odisha based manufacturer, Ganesh Metaliks offered Billet at INR 31,500/MT ex-plant, trade activities are firm at these offers an official reported.
10. Melting scrap offers in North & West India down by INR 200-400/MT D-o-D owing to weak trade activities.
11. Indian Oil offers 80,000 MT Pet coke through auction.
12. Medium mills in Raipur today reduced structure & Rebar prices by INR 200-300/MT.
13. According to market participants, trade discounts on Wire rod again provided by Raipur based plants of approximately INR 300-400/MT. Today, the offer for 5.5mm Wire rod was at INR 38,000/MT ex-plant.
Reference prices as on 27th December 2017
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 21,500 | 21,400 | 21,600 | – 500 | 20,000 | 18,800 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 20,700 | 20,600 | 20,800 | – 100 | 19,400 | 18,100 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 21,900 | 21,800 | 22,000 | – 150 | 20,600 | 19,500 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 20,000 | 20,000 | 20,100 | – 100 | 19,000 | 17,500 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 20,500 | 20,400 | 20,600 | – 500 | 19,000 | 17,800 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 20,600 | 20,500 | 20,700 | – 350 | 19,650 | 18,200 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,500 | 19,400 | 19,600 | – 100 | 18,400 | 17,200 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 20,000 | 19,900 | 20,000 | 0 | 19,000 | 17,700 | |
| Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 33,300 | 33,100 | 33,300 | – 200 | 31,550 | 30,500 | |
| Ingot | Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 31,400 | 31,300 | 31,500 | – 250 | 29,600 | 28,300 |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 30,700 | 30,600 | 30,800 | – 200 | 28,200 | 26,600 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 31,400 | 31,300 | 31,500 | – 400 | 29,500 | 27,200 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 33,800 | 33,700 | 33,900 | – 200 | 32,000 | 29,600 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 32,700 | 32,500 | 33,000 | + 200 | 31,300 | 28,500 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 33,750 | 33,500 | 34,000 | – 250 | 32,000 | 29,000 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 33,800 | 33,700 | 33,900 | – 200 | 32,100 | 31,000 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 31,600 | 31,500 | 31,700 | – 300 | 29,900 | 28,700 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 31,500 | 31,400 | 31,600 | – 300 | 29,000 | 27,100 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 32,200 | 32,100 | 32,300 | – 400 | 30,400 | 27,850 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 34,000 | 33,900 | 34,000 | – 200 | 32,200 | 29,800 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 33,000 | 33,000 | 33,500 | 0 | 31,800 | 29,000 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 33,750 | 33,500 | 34,000 | – 250 | 32,000 | 29,000 | |
| TMT | Ex-Delhi/NCR | 12MM | 39,200 | 39,000 | 39,400 | – 300 | 35,600 | 34,000 |
| Ex-Durgapur | 12MM | 35,300 | 35,100 | 35,500 | – 200 | 32,600 | 31,300 | |
| Ex-Raipur | 12MM | 35,800 | 35,600 | 36,000 | – 300 | 33,200 | 30,700 | |
| Ex-Mumbai | 12MM | 37,500 | 37,100 | 37,600 | 0 | 35,500 | 32,900 | |
| Ex-Chennai | 12MM | 36,500 | 36,500 | 37,000 | 0 | 35,000 | 32,300 | |
| Ex-Hyderabad | 12MM | 36,800 | 36,700 | 36,900 | – 200 | 35,000 | 32,000 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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