Indian Sponge & Billet prices remain slightly fluctuated by INR 100-300/MT, according to SteelMint’s daily price assessment. The market participants reported subdued demand in the local market.
Today, the price assessment for induction furnaces billet (size 125×125 mm) are stood at INR 31,400-35,400/MT (USD 494-557) and the coal based sponge (78-80 FeM) C-DRI prices hovering at INR 20,400-21,700/MT (USD 321-341); prices are ex-plant & excluding 18% GST.
On 30th Jan 2018 (Tuesday) INR to USD exchange rate stood at INR 63.62 & BSE Sensex closed at 36,033 (-249).
Key Market Updates:
1. Raipur, Central India based Integrated plants offer unaltered, offering Sponge P-DRI at INR 20,100-20,200/MT & Sponge DR CLO grade at INR 22,200-22,400/MT ex-plant
2. Accordig to sources, Rashmi Metaliks in Durgapur has offered Sponge P-DRI at INR 20,800/MT with hike of INR 200/MT against last day.
3. Indian sponge iron export offers to Bangladesh have increase slightly and are reported at USD 390-395/MT, CPT Benapole (land port of India & Bangladesh).
4. Odisha based manufacturer, Ganesh Metaliks offered Billet at INR 31,500/MT ex-plant, an official reported. Bhaskar Steel (Bonai) offered billet at INR 31,200/MT & FeM 80 C-DRI at INR 21,000-21,200/MT ex-plant.
5. Induction furnace grade billet 100×100, export buying interest from Nepal are reported at around USD 485/MT (ex-mill) Rourkela. Meanwhile, Durgapur based mills sold same material at around USD 500/MT (ex-mill) to Nepal.
6. BMM Ispat in South India (Karnataka) has reduced offers for FeM 80 P-DRI by INR 200/MT to INR 19,600-19,700/MT ex-Bellary, an official reported.
7. South India based Cauvery Iron & Steel offers FeM 80 P-DRI & billet at INR 20,500/MT & INR 34,000/MT. Also offering 28 MM Rebar at INR 36,000/MT. prices are ex-plant & excluding GST.
8. JSPL’s steel sales is recorded at 0.94 MnT in Q3 FY18, increased by 13% Q-o-Q against Q2 FY18 steel sales at 0.83 MnT
9. Local manufacturers in Raipur are offering 60-14 Silico manganese at around INR 69,000/MT ex-plant, offers down by INR 500-1,000/MT against last week.
10. Jalna selling billet to Gujarat-Ahmedabad at INR 33,700-33,900/MT on ex-works basis. Freight cost according to suppliers at INR 1,100-1,200/MT via road.
11. Wire rod prices increased by Raipur based big plants INR 300/MT & in Durgapur by INR 200/MT.
Reference prices as on 30th 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 | + 100 | 21,700 | 22,100 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 21,000 | 20,900 | 21,000 | 0 | 20,800 | 21,300 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 21,400 | 21,300 | 21,500 | 0 | 21,300 | 22,500 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 20,400 | 20,300 | 20,500 | – 100 | 20,600 | 20,800 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 20,900 | 20,800 | 21,000 | – 100 | 21,000 | NA | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 20,600 | 20,500 | 20,600 | 0 | 20,700 | 21,100 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 20,200 | 20,100 | 20,300 | 0 | 20,000 | 21,500 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,700 | 19,600 | 19,800 | – 200 | 20,000 | 20,400 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 20,400 | 20,300 | 20,500 | – 100 | 20,500 | 20,300 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 34,400 | 34,300 | 34,500 | + 100 | 33,500 | 34,000 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 31,700 | 31,600 | 31,800 | + 100 | 31,300 | 32,200 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 31,000 | 30,900 | 31,000 | 0 | 30,600 | 31,500 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 31,800 | 31,700 | 31,900 | 0 | 31,200 | 32,500 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 34,000 | 33,900 | 34,100 | – 200 | 34,500 | 35,000 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 33,500 | 33,400 | 33,600 | 0 | 34,200 | 33,500 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 34,000 | 34,000 | 34,500 | 0 | 34,000 | 35,000 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 35,100 | 35,000 | 35,200 | + 150 | 34,400 | 34,500 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 32,200 | 32,100 | 32,200 | + 200 | 31,800 | 32,300 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 31,400 | 31,400 | 31,500 | – 100 | 31,150 | 32,200 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 32,500 | 32,400 | 32,600 | – 100 | 32,000 | 33,400 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 34,200 | 34,100 | 34,300 | – 200 | 34,700 | 35,200 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 34,000 | 34,000 | 34,200 | 0 | 34,800 | 34,000 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 34,000 | 34,000 | 34,500 | 0 | 34,000 | 35,000 | |
| TMT | Ex-Delhi/NCR | 12MM | 38,300 | 38,100 | 38,500 | + 100 | 38,400 | 39,200 |
| Ex-Durgapur | 12MM | 36,300 | 36,100 | 36,500 | + 300 | 35,800 | 35,800 | |
| Ex-Raipur | 12MM | 36,300 | 36,100 | 36,500 | + 100 | 35,700 | 36,800 | |
| Ex-Mumbai | 12MM | 38,800 | 38,400 | 38,800 | – 500 | 39,100 | 38,600 | |
| Ex-Chennai | 12MM | 39,500 | 39,300 | 39,700 | 0 | 39,250 | 38,000 | |
| Ex-Hyderabad | 12MM | 37,700 | 37,500 | 37,900 | 0 | 37,450 | 38,200 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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