Indian Semi finished offers witness sharp rise, Sponge by INR 200-700/MT (USD 3-11) & Billet upto INR 1,000/MT (USD 16) day on day.
According to trade participants, the prices increase in line with rising raw material prices and also due to improved demand globally.
SteelMint’s price assessments for induction furnaces billet size 125×125 mm are reported at INR 32,200-35,200/MT (USD 507-554) ex-plant.
Further the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 20,800-22,500/MT (USD 327-354); prices are ex-plant & excluding GST.
Today (Tuesday, January 2, 2017) INR to USD exchange rate stood at INR 63.51 & BSE Sensex closed at 34,010 (+70).
Key Market Updates:
1. NMDC, Chhattisgarh has increased iron ore prices up to 22% for Jan’18 deliveries. The miner has raised lump prices by INR 500/MT, fines by INR 500/MT, DR-CLO by INR 580/MT and ROM by INR 460/MT.
2. Odisha Mining Corporation (OMC), a state-owned miner has scheduled its next e-auction on 6 Jan’18 for 390,000 MT Iron ore fines
3. Rungta & KJS raise iron ore lump prices by INR 500/MT and fines prices by INR 300/MT
4. RINL has invited a global tender for purchase of 150,000 MT low ash metallurgical coke at Visakhapatnam, India.
5. Tata Metaliks has raised Foundry grade Pig iron prices couple of times by INR 600/MT. The latest offers are at INR 30,200/MT ex-plant & INR 32,500/MT FoR Punjab, excluding 18% GST.
6. Raipur, Central India based Integrated plants offers increased by INR 300/MT D-o-D, offering Sponge P-DRI at INR 21,500-21,600/MT ex-plant
7. Durgapur based Rashmi Metaliks has sharply increase sponge prices and are heard P-DRI at INR 21,200/MT.
8. Odisha based medium size sponge manufacturers have increased offers by INR 400/MT; FeM 80 C-DRI (70:30 mix material) at INR 21,200-21,400/MT ex-plant & excluding GST.
9. Bhushan Power & Steel in Jharsugda, Odisha has offer Sponge P-DRI at INR 20,500/MT and Steel grade pig iron at INR 27,500/MT ex-plant, an official reported.
10. BIOP Steels in South India has offered FeM 80 & 82 C-DRI lumps at INR 20,800/MT & 21,200/MT ex-plant, Karnataka. trade activities are firm at these offers; an official reported.
11. Hare Krishna, a 300 TPD sponge manufacturer in Bellary, Karnataka has offered 80 FeM P-DRI at INR 20,400/MT ex-plant.
Reference prices as on 2nd January 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 22,100 | 22,000 | 22,200 | + 400 | 22,000 | 19,450 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 21,300 | 21,200 | 21,400 | + 400 | 20,800 | 18,800 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 22,500 | 22,400 | 22,600 | + 200 | 22,050 | 19,700 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 20,800 | 20,800 | 21,000 | + 600 | 20,100 | 17,900 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 21,100 | 21,000 | 21,200 | + 400 | 21,000 | 18,450 |
| Ex-Jharsugda | Lumps, FeM 78%, +/-1 | 20,500 | 20,400 | 20,600 | NA | NA | NA | |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 21,500 | 21,400 | 21,600 | + 300 | 20,950 | 18,450 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 20,400 | 20,300 | 20,400 | + 700 | 19,600 | 17,500 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 20,300 | 20,200 | 20,400 | + 300 | 20,000 | 18,100 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 34,000 | 33,900 | 34,000 | + 300 | 33,500 | 31,350 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 32,200 | 32,100 | 32,300 | + 1,000 | 31,650 | 29,000 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 31,500 | 31,400 | 31,500 | + 900 | 30,900 | 27,300 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 32,500 | 32,400 | 32,600 | + 400 | 31,800 | 27,500 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 35,000 | 34,900 | 35,100 | + 600 | 34,000 | 29,600 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 33,500 | 33,400 | 33,600 | + 300 | 32,500 | 29,000 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 35,000 | 34,800 | 35,200 | + 500 | 34,000 | 30,000 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 34,500 | 34,400 | 34,600 | + 300 | 34,000 | 31,800 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 32,300 | 32,200 | 32,400 | + 600 | 31,900 | 29,400 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 32,200 | 32,200 | 32,300 | + 900 | 31,800 | 28,000 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 33,400 | 33,300 | 33,500 | + 600 | 32,600 | 28,500 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 35,200 | 35,100 | 35,300 | + 600 | 34,200 | 29,800 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 34,000 | 33,800 | 34,000 | + 300 | 33,000 | 29,500 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 35,000 | 34,800 | 35,200 | + 500 | 34,000 | 30,000 | |
| TMT | Ex-Delhi/NCR | 12MM | 39,200 | 39,000 | 39,400 | + 1,000 | 39,500 | 34,700 |
| Ex-Durgapur | 12MM | 35,800 | 35,600 | 36,000 | + 500 | 35,500 | 31,800 | |
| Ex-Raipur | 12MM | 36,800 | 36,600 | 37,000 | + 600 | 36,100 | 31,200 | |
| Ex-Mumbai | 12MM | 38,600 | 38,200 | 38,700 | + 800 | 37,500 | 33,500 | |
| Ex-Chennai | 12MM | 38,000 | 37,900 | 38,100 | + 400 | 36,500 | 33,000 | |
| Ex-Hyderabad | 12MM | 38,200 | 38,000 | 38,400 | + 500 | 37,000 | 32,800 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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