Today, Indian Sponge iron prices fluctuated by INR 100-400/MT D-o-D, the trade sentiments showed mix trends while Billet offers corrected by INR 100-300/MT.
SteelMint’s price assessments for induction furnaces billet size 125×125 mm are reported at INR 32,200-36,000/MT (USD 503-563) ex-plant.
Further the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 21,500-22,500/MT (USD 336-352); prices are ex-plant & excluding GST.
Today (Tuesday, January 16, 2018) INR to USD exchange rate stood at INR 64.04 & BSE Sensex closed at 34,771 (-72).
Key Market Updates:
1. Bhushan Steel – a major integrated steel maker has recorded a decline in its iron ore and pellet sourcing by 30% M-o-M to 0.44 MnT in Dec’17 as against 0.64 MnT in Nov’17.
2. Talwandi Sabo Power Limited, invites bids for the purchase of 160,000 MT homogeneous single mine non-coking coal on CIF west coast port India.
3. Raipur, Central India based Integrated plants offer unaltered D-o-D, offering Sponge P-DRI at INR 21,200-21,300/MT ex-plant
4. Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 21,500/MT & billet at INR 31,800-32,000/MT ex-plant.
5. Odisha based manufacturer, Ganesh Metaliks offered Billet at INR 32,200-32,300/MT ex-plant. trade activities are firm at these offers an official reported.
6. A day before, Monnet Ispat sold 1,000 ton P-DRI at INR 20,700/MT ex-plant, Raigarh, an official reported.
7. Singhal Steel offered P-DRI at INR 20,500-20,600/MT ex-plant (Raigarh), an official reported. Also added, few deals of billet concluded for Raipur at 33,400/T FoR.
8. BMM Ispat in South India (Karnataka) has increased offers for FeM 80 P-DRI by INR 300-400/MT to INR 21,000/MT ex-Bellary, an official reported.
9. Sunvik Steels in Karnataka has increased sponge prices by INR 300/MT; offering FeM 80 & 82 C-DRI are INR 21,800/MT and INR 22,200/MT. Also offering 8mm TMT at INR 50,200/MT ( incl. of 18% GST). All prices are ex-works
10. Kalika Steel Alloys in Jalna unchanged their prices and offering 28mm rebars at INR 36,700/MT ex-plant & excluding GST.
11. Rathi Steels, one of the big manufacturer for rebars in North India – Delhi has remain unchanged their offers by INR 39,525/MT, size – 12 mm & excluding 18% GST.
12. The medium steel plants in Delhi have increase rebar gauge parity by INR 300/MT for 8 & 10 mm.
Reference prices as on 16th January 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 22,500 | 22,400 | 22,600 | – 100 | 21,900 | 20,100 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 21,500 | 21,500 | 21,600 | 0 | 21,200 | 19,300 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 22,400 | 22,300 | 22,500 | + 100 | 22,100 | 20,600 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 22,000 | 21,900 | 22,100 | + 300 | 20,900 | 19,000 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 21,500 | 21,400 | 21,600 | – 100 | 20,900 | 19,100 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 21,250 | 21,200 | 21,300 | + 50 | 20,850 | 19,500 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 21,000 | 20,900 | 21,100 | + 200 | 20,200 | 18,200 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 21,400 | 21,300 | 21,500 | + 400 | 20,400 | 18,800 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 34,000 | 34,000 | 34,100 | – 200 | 33,500 | 31,750 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 32,300 | 32,200 | 32,400 | 0 | 31,600 | 29,700 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 31,700 | 31,700 | 31,800 | 0 | 31,000 | 28,200 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 32,400 | 32,300 | 32,500 | – 100 | 31,500 | 29,100 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 34,900 | 34,800 | 35,000 | – 200 | 34,000 | 31,700 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 34,000 | 33,800 | 34,000 | 0 | 34,250 | 31,300 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 36,000 | 35,800 | 36,000 | 0 | 35,000 | 31,500 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 34,800 | 34,800 | 34,900 | – 300 | 34,200 | 32,300 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 32,700 | 32,600 | 32,800 | 0 | 32,000 | 30,000 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 32,200 | 32,100 | 32,200 | + 100 | 31,700 | 29,000 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 33,400 | 33,300 | 33,500 | 0 | 32,500 | 30,050 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 35,100 | 35,000 | 35,200 | – 200 | 34,300 | 32,000 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 34,500 | 34,250 | 34,500 | 0 | 34,750 | 31,800 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 36,000 | 35,800 | 36,000 | 0 | 35,000 | 31,500 | |
| TMT | Ex-Delhi/NCR | 12MM | 38,800 | 38,600 | 39,000 | + 300 | 38,600 | 35,600 |
| Ex-Durgapur | 12MM | 36,700 | 36,500 | 36,900 | – 100 | 35,800 | 32,600 | |
| Ex-Raipur | 12MM | 37,200 | 37,000 | 37,400 | 0 | 36,200 | 32,700 | |
| Ex-Mumbai | 12MM | 39,300 | 38,900 | 39,400 | 0 | 39,200 | 35,400 | |
| Ex-Chennai | 12MM | 38,500 | 38,300 | 38,700 | 0 | 38,600 | 35,000 | |
| Ex-Hyderabad | 12MM | 39,200 | 39,000 | 39,200 | 0 | 38,000 | 34,500 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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