Indian Sponge & Billet prices remain on downtrend on 19th January. The prices have registered fall of INR 100-500/MT (USD 1-8) for both Sponge iron & Billet. According to market participants, limited inquiries resulting continues price decline in the domestic market.
SteelMint’s price assessments for induction furnaces billet size 125×125 mm are reported at INR 31,400-35,000/MT (USD 492-549) ex-plant.
Further the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 20,800-21,700/MT (USD 326-340); prices are ex-plant & excluding GST.
Today (Friday, January 19, 2018) INR to USD exchange rate stood at INR 63.82 & BSE Sensex closed at 35,511 (+251).
Key Market Updates:
1. Raipur, Central India based Integrated plants offers reduced by INR 200/MT D-o-D, offering Sponge P-DRI at INR 20,400-20,600/MT ex-plant.
2. Sponge P-DRI offers by Rashmi Metaliks in Durgapur are heard at INR 20,700/MT with decline of INR 200/MT day on day.
3. Odisha based medium size sponge manufacturers reported reduced offers by INR 100/MT; FeM 80 C-DRI (70:30 mix material) at INR 20,800-21,000/MT ex-plant & excluding GST.
4. Singhal Steel offered P-DRI at INR 19,700/MT ex-plant (Raigarh), an official reported. Also added no deals concluded for Raipur today.
5. BMM Ispat in South India has kept offers unaltered, offering FeM 80 P-DRI lumps at INR 20,500/MT ex-Bellary, Karnataka.
6. Vizag Steel has further increased Semis & long steel prices by INR 500-1,000/MT (USD 8-15) w.e.f. 18th Jan 2018. The offers increase for Wire Rod by INR 750/MT, Structure by INR 1,000/MT, Re-bars by INR 1,000/MT, Billet by INR 500/MT & Pig Iron by INR 500/MT.
7. Vizag Steel has issued a tender for export of 30,000 MT billet and the due date for bid submission is 23 Jan’18.
8. SAIL’s IISCO raised Steel grade Pig iron prices by INR 500/MT. The latest offers are at INR 27,000/MT ex-Burnpur, East India & excluding trade discount.
9. RSP (Rourkela Steel Plant) tender held on 18th Jan’18 to sell about 4,000 MT steel grade pig iron have received good response. The base price of the tender was at INR 26,800-26,900/MT which increased to INR 27,200-27,300/MT and the total quantity have been sold out.
10. Raipur & Mumbai based small mills have reduced rebar & light/medium structure prices by INR 200-300/MT.
11. Integrated plants in Raipur & Durgapur have reduced Wire rod prices by INR 400-500/MT on poor inquiries. Trade discount on Wire rod in Raipur are heard at INR 1,000-1,200/MT which was yesterday at INR 1,000-1,500/MT.
12. Gujarat based Akshar TMT has reduced rebar offers by INR 400-500/MT D-o-D. The fresh offers are reported at INR 45,500/MT FOR & including GST at 18%, Size – 20 mm.
13. Prakash Ferrous Industries Pvt. Ltd in Chennai has offered Rebar 12 mm at INR 40,500/MT & Billet at INR 35,500/MT ex-plant & excluding GST.
Reference prices as on 19th January 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 21,700 | 21,600 | 21,800 | – 300 | 22,000 | 20,600 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 20,900 | 20,800 | 21,000 | – 100 | 21,000 | 20,000 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 21,700 | 21,600 | 21,800 | – 400 | 21,600 | 21,600 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 21,300 | 21,200 | 21,400 | – 400 | 20,700 | 19,200 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 20,600 | 20,500 | 20,700 | – 300 | 21,000 | 19,600 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 20,500 | 20,400 | 20,600 | – 200 | 20,500 | 20,400 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 20,500 | 20,500 | 20,600 | – 100 | 20,100 | 18,600 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 21,000 | 20,900 | 21,100 | – 200 | 20,400 | 19,000 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 33,500 | 33,400 | 33,600 | 0 | 33,500 | 32,450 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 31,400 | 31,300 | 31,500 | – 400 | 31,700 | 30,200 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 30,800 | 30,700 | 30,800 | – 200 | 30,900 | 29,300 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 31,500 | 31,400 | 31,600 | – 200 | 31,600 | 30,600 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 34,000 | 33,900 | 34,100 | – 500 | 34,800 | 33,300 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 34,500 | 34,250 | 34,500 | 0 | 34,000 | 31,600 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 34,750 | 34,500 | 35,000 | – 250 | 34,500 | 33,000 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 34,400 | 34,300 | 34,500 | 0 | 34,400 | 33,000 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 31,800 | 31,700 | 31,800 | – 400 | 32,000 | 30,500 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 31,400 | 31,300 | 31,500 | – 300 | 31,500 | 30,000 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 32,400 | 32,300 | 32,500 | – 300 | 32,600 | 31,600 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 34,200 | 34,100 | 34,200 | – 500 | 35,000 | 33,500 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 35,000 | 34,750 | 35,000 | 0 | 34,500 | 32,100 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 34,750 | 34,500 | 35,000 | – 250 | 34,500 | 33,000 | |
| TMT | Ex-Delhi/NCR | 12MM | 39,000 | 38,900 | 39,200 | NA | 37,800 | 36,500 |
| Ex-Durgapur | 12MM | 36,000 | 35,800 | 36,200 | – 200 | 35,900 | 33,100 | |
| Ex-Raipur | 12MM | 36,200 | 36,000 | 36,400 | – 200 | 36,000 | 34,500 | |
| Ex-Mumbai | 12MM | 39,000 | 38,600 | 39,100 | – 300 | 39,000 | 36,500 | |
| Ex-Chennai | 12MM | 39,250 | 39,200 | 39,500 | 0 | 38,500 | 36,000 | |
| Ex-Hyderabad | 12MM | 37,950 | 37,700 | 38,200 | – 250 | 37,700 | 36,000 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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