Indian Billet & Sponge prices further fall today by INR 200-500/MT (USD 3-8) on persistent weak demand in the market.
SteelMint’s price assessments for induction furnaces billet size 125×125 mm are reported at INR 30,500-34,000/MT (USD 478-533) ex-plant.
Further the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 19,800-21,500/MT (USD 310-337); prices are ex-plant & excluding GST.
Today (Friday, December 29, 2017) INR to USD exchange rate stood at INR 63.84 & BSE Sensex closed at 34,056 (+208).
Key Market Updates:
1. Coking Coal imports in India to increase further as steel production capacity rises. Prices increase further, Premium HCC at USD 262.3/MT FoB Australia.
2. Raipur, Central India based Integrated plants offer unaltered D-o-D, offering Sponge P-DRI at INR 20,200-20,400/MT ex-plant.
3. Odisha based medium size sponge manufacturers reduced offers by INR 200-300/MT; FeM 80 C-DRI (70:30 mix material) at INR 20,000/MT ex-plant & excluding GST.
4. Indian origin pig iron export offers have moved up by USD 10/MT W-o-W. SteelMint’s current assessment stood at USD 355-360/MT, FoB India.
5. BIOP Steels in South India has offered FeM 80 & 82 C-DRI lumps at INR 20,100/MT & 20,500/MT ex-plant, Karnataka. The trade activities are firm at these offers; an official reported.
6. Imported scrap offers to India remained firm this week over New Year holidays. Offers for Shredded scrap in containers from USA and UK assessed at USD 375-380/MT, CFR Nhava Sheva.
7. Melting scrap prices in Western India down today – Maharashtra by INR 200-400/MT & Gujarat by INR 600-800/MT.
8. Gujarat based Akshar TMT has reduced rebar offers by INR 900/MT D-o-D. The fresh offers are reported at INR 43,500/MT FOR & including GST at 18%, Size – 20 mm.
9. Kalika Steel Alloys in Jalna has offered 28mm rebars at INR 35,500/MT, the offers are stable from last 2-3 days.
10. Rathi Steels, one of the big manufacturer for rebars in North India – Delhi has reduced offers by INR 750/MT to INR 38,600-38,700/MT, 12 mm & excluding GST @ 18%.
11. The big plants in Durgapur have reduced Wire rod prices by INR 500/MT and latest offers for 5.5 mm are assessed at INR 36,500/MT ex-Durgapur. Trade discounts being provide in Raipur of around INR 1,000-1,200/MT & basic offers are at INR 37,600/MT ex-Raipur.
12. Recent, an Durapur- East India based renowned producer has concluded Wire rod (5.5 mm) export deal to Nepal at around USD 570/MT (ex-Mill), officials reported.
Reference prices as on 29th December 2017
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 20,800 | 20,700 | 20,900 | – 400 | 20,600 | 19,200 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 20,100 | 20,000 | 20,200 | – 200 | 20,000 | 18,600 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 21,500 | 21,400 | 21,600 | 0 | 21,600 | 20,100 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,800 | 19,700 | 19,800 | – 200 | 19,200 | 17,900 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 19,800 | 19,700 | 19,900 | – 400 | 19,600 | 18,200 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 20,250 | 20,200 | 20,300 | – 50 | 20,400 | 18,900 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,200 | 19,100 | 19,300 | – 300 | 18,600 | 17,500 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 19,600 | 19,500 | 19,700 | – 400 | 19,000 | 18,200 | |
| Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 32,300 | 32,300 | 32,400 | – 200 | 32,450 | 31,100 | |
| Ingot | Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 30,500 | 30,400 | 30,600 | – 400 | 30,200 | 28,800 |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 29,600 | 29,500 | 29,700 | – 600 | 29,300 | 27,500 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 30,500 | 30,400 | 30,600 | – 100 | 30,600 | 28,000 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 32,800 | 32,700 | 32,900 | – 500 | 33,300 | 30,500 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 33,000 | 32,800 | 33,000 | + 300 | 31,600 | 28,500 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 33,500 | 33,000 | 33,500 | 0 | 33,000 | 30,250 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 32,900 | 32,800 | 33,000 | – 100 | 33,000 | 31,600 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 30,800 | 30,700 | 30,900 | – 500 | 30,500 | 29,200 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 30,500 | 30,400 | 30,600 | – 500 | 30,000 | 28,000 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 31,300 | 31,200 | 31,300 | – 300 | 31,600 | 28,600 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 33,000 | 32,900 | 33,000 | – 500 | 33,500 | 30,700 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 33,500 | 33,300 | 33,700 | + 200 | 32,100 | 29,000 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 33,500 | 33,250 | 33,500 | 0 | 33,000 | 30,250 | |
| TMT | Ex-Delhi/NCR | 12MM | 38,200 | 38,000 | 38,400 | – 500 | 36,500 | 34,500 |
| Ex-Durgapur | 12MM | 34,700 | 34,500 | 34,900 | – 200 | 33,100 | 31,700 | |
| Ex-Raipur | 12MM | 35,200 | 35,000 | 35,400 | – 200 | 34,500 | 31,700 | |
| Ex-Mumbai | 12MM | 37,000 | 36,600 | 37,100 | – 500 | 36,500 | 33,700 | |
| Ex-Chennai | 12MM | 37,000 | 37,000 | 37,500 | + 200 | 36,000 | 32,700 | |
| Ex-Hyderabad | 12MM | 36,700 | 36,600 | 36,800 | 0 | 36,000 | 33,200 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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