Indian Sponge & billet offers rise by INR 100-500/MT (USD 1-8) day on day amid subdued trade activities.
The major price rise in billets of INR 500/MT are assessed in Chennai, South region due to shortage of billets on closure of few plants during last week owing to pollution issue.
SteelMint’s price assessments for induction furnaces billet size 125×125 mm are reported at INR 31,900-35,700/MT (USD 496-555) ex-plant. Further the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 20,600-21,800/MT (USD 320-339); prices are ex-plant & excluding GST.
On 16th Feb 2018 (Friday) INR to USD exchange rate stood at INR 64.30 & BSE Sensex closed at 34,010 (-286).
Key Market Updates:
1. NINL’s resumption in Pig iron production may be delayed by about 1-2 months. The plant is under maintenance since Dec’17 owing to repair works.
2. Indian iron ore & pellet imports increased to more than four-fold in Jan’18 to 1.95 MnT as against 0.38 MnT in Dec’17. While exports moved down by 21% at 1.88 MnT in Jan’18 against 2.39 MnT in Dec’17.
3. Indian sponge iron export offers remained firm in current week despite surge in domestic prices. The exporters reported fresh offers at around USD 378-380/MT CPT Benapole (land port of India & Bangladesh). On CFR basis, the offers are hovering at USD 395-400/MT, CFR Chittagong, Bangladesh.
4. Shyam Sel (Durgapur) offers sponge C-DRI for exports – at USD 351/MT (loaded to truck) for Nepal on ex-plant basis & USD 380-382/MT for Bangladeshi buyers on CPT Benapole port basis.
5. Raipur, Central India based Integrated plants offer unaltered D-o-D, offering Sponge P-DRI at INR 20,000-20,200/MT ex-plant
6. Singhal Steel offered P-DRI at INR 19,700/MT ex-plant (Raigarh) and are reported billet trades at INR 32,800/T FoR Raipur.
7. BMM Ispat in South India (Karnataka) has increased offers for FeM 80 P-DRI by INR 100-200/MT to INR 20,300/MT ex-Bellary, an official reported.
8. Durgapur based steel mills concluded billet export deals to Nepal yesterday at around USD 510/MT on ex-mill basis.
9. The medium steel plants in Hyderabad have increased rebar gauge parity by INR 300/MT for 8 & 32 mm. Also, it increased in same amount for 10-25 mm. Similarly, in Raipur where steel mills have increased rebar gauge parity for 8, 10 & 32 mm by INR 300/MT and are assessed – 10mm (+ INR 2500) and 8 & 32mm (+ INR 3500), meanwhile for rest of sizes the price difference are same i.e. 12-25mm (+ INR 2200), Basic 28mm.
10. Indian mills heard to have booked three bulk scrap vessels in Feb from US in the range of USD 365-375/MT CFR India
Reference prices as on 16th February 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 21,800 | 21,700 | 21,900 | + 100 | 21,050 | 21,700 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 20,600 | 20,500 | 20,700 | 0 | 20,400 | 20,900 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 21,500 | 21,400 | 21,600 | + 100 | 20,700 | 21,700 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 20,900 | 20,800 | 21,000 | 0 | 20,200 | 21,300 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 20,800 | 20,700 | 20,900 | + 100 | 20,050 | 20,600 |
| Ex-Jharsugda | Lumps, FeM 78%, +/-1 | 19,200 | 19,100 | 19,300 | 0 | NA | NA | |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 20,100 | 20,000 | 20,200 | + 50 | 19,600 | 20,500 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 20,100 | 20,000 | 20,200 | + 100 | 19,500 | 20,500 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 20,800 | 20,700 | 20,900 | + 200 | 19,900 | 21,000 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 35,200 | 35,100 | 35,300 | + 100 | 34,050 | 33,500 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 32,300 | 32,200 | 32,400 | + 200 | 31,500 | 31,400 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 31,400 | 31,300 | 31,400 | + 200 | 30,400 | 30,800 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 32,200 | 32,100 | 32,300 | + 100 | 31,400 | 31,500 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 34,500 | 34,400 | 34,600 | – 200 | 33,800 | 34,000 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 34,500 | 34,400 | 34,600 | + 500 | 33,500 | 34,500 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 34,000 | 33,800 | 34,200 | 0 | 33,750 | 34,750 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 35,700 | 35,600 | 35,800 | 0 | 34,800 | 34,400 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 32,850 | 32,800 | 32,900 | + 200 | 32,000 | 31,800 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 31,900 | 31,800 | 32,000 | + 100 | 31,000 | 31,400 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 32,900 | 32,800 | 33,000 | + 150 | 32,100 | 32,400 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 34,700 | 34,600 | 34,800 | – 200 | 34,000 | 34,200 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 35,000 | 34,900 | 35,100 | + 500 | 34,000 | 35,000 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 34,000 | 34,000 | 34,200 | 0 | 33,750 | 34,750 | |
| TMT | Ex-Delhi/NCR | 12MM | 38,500 | 38,300 | 38,700 | 0 | 37,700 | 39,000 |
| Ex-Durgapur | 12MM | 36,800 | 36,600 | 37,000 | – 100 | 36,100 | 36,000 | |
| Ex-Raipur | 12MM | 36,500 | 36,300 | 36,700 | 0 | 35,900 | 36,200 | |
| Ex-Mumbai | 12MM | 39,200 | 38,800 | 39,300 | – 100 | 38,700 | 39,000 | |
| Ex-Chennai | 12MM | 39,000 | 38,800 | 39,200 | + 300 | 38,500 | 39,250 | |
| Ex-Hyderabad | 12MM | 39,400 | 39,300 | 39,500 | + 700 | 38,200 | 37,950 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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