Today, Indian Sponge & Billet offers fluctuated by INR 100-300/MT in major markets except in Southern region Hyderabad where billet prices fall about INR 800/MT on weak trade activities.
SteelMint’s price assessments for induction furnaces billet size 125×125 mm are reported at INR 32,200-36,600/MT (USD 497-565) ex-plant. Further the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 20,500-22,000/MT (USD 316-340); prices are ex-plant & excluding GST.
On 20th Feb 2018 (Monday) INR to USD exchange rate stood at INR 64.79 & BSE Sensex closed at 33,703 (-71).
Key Market Updates:
1. Essel Mining in Odisha has resumed iron ore sales from its Koira mines.
2. Rashtriya Ispat Nigam Limited has issued a tender for export of 10,000 MT billet, 20,000 MT Blooms, 10,000 MT Rounds and 3,000 MT Angles. The due date for bid submission is 23 Feb’18.
3. Tata Metaliks, India’s one of the largest foundry grade pig iron manufacturer has raised its prices by INR 300/MT (USD 5) & reported at INR 31,600/MT for high silicon, foundry grade pig iron.
4. Indian domestic Pellet prices reel under pressure amid dull buying interest. The prices in eastern and central India reported slight corrections, while in southern and western India it increased
5. Raipur, Central India based big plants offered Sponge P-DRI at INR 20,100-20,200/MT against last day offers of INR 20,000-20,100/MT ex-plant. Since a week, the prices slightly fluctuated over improved supply and subdued demand.
6. According to sources in Durgapur, Rashmi Metaliks has raised offers by INR 100-200/MT to INR 20,900-21,000/MT for FeM 78 P-DRI.
7. BMM Ispat in South India (Karnataka) has reduced offers for FeM 80 P-DRI by INR 100-200/MT to INR 20,000-20,100/MT ex-Bellary. In the same place, BIOP Steels has offered FeM 80 & 82 C-DRI lumps at INR 20,800/MT & 21,300/MT ex-plant.
8. Cauvery Iron & Steel in South India offers FeM 80 P-DRI at INR 20,800/MT & billet at INR 33,000/MT. Also offering 28 MM Rebar at INR 36,000/MT. prices are ex-plant & excluding GST.
Reference prices as on 20th February 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 22,000 | 21,900 | 22,100 | + 100 | 21,600 | 21,700 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 20,600 | 20,500 | 20,700 | + 100 | 20,600 | 20,800 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 21,300 | 21,200 | 21,400 | 0 | 21,400 | 21,300 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 20,900 | 20,800 | 21,000 | 0 | 20,700 | 20,600 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 20,900 | 20,800 | 21,000 | + 100 | 20,600 | 20,700 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 20,100 | 20,000 | 20,200 | + 100 | 20,000 | 20,000 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 20,100 | 20,000 | 20,200 | – 100 | 19,900 | 20,000 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 20,900 | 20,800 | 21,000 | 0 | 20,400 | 20,500 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 35,750 | 35,700 | 35,800 | + 250 | 34,900 | 33,500 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 32,500 | 32,400 | 32,600 | + 100 | 32,000 | 31,300 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 31,300 | 31,200 | 31,400 | 0 | 31,000 | 30,600 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 32,450 | 32,400 | 32,500 | + 150 | 32,000 | 31,200 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 34,700 | 34,600 | 34,800 | – 100 | 34,700 | 34,500 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 34,500 | 34,400 | 34,600 | 0 | 34,000 | 34,200 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 33,000 | 33,000 | 33,500 | – 800 | 34,000 | 34,000 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 36,600 | 36,500 | 36,700 | + 300 | 35,700 | 34,400 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 33,000 | 32,900 | 33,100 | + 100 | 32,550 | 31,800 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 32,200 | 32,100 | 32,300 | + 200 | 31,600 | 31,150 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 33,100 | 33,000 | 33,200 | + 200 | 32,700 | 32,000 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 34,900 | 34,800 | 35,000 | – 100 | 34,900 | 34,700 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 35,000 | 34,900 | 35,100 | 0 | 34,500 | 34,800 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 33,200 | 33,000 | 33,500 | – 800 | 34,000 | 34,000 | |
| TMT | Ex-Delhi/NCR | 12MM | 38,200 | 38,000 | 38,400 | 0 | 38,800 | 38,400 |
| Ex-Durgapur | 12MM | 37,000 | 36,800 | 37,200 | 0 | 36,500 | 35,800 | |
| Ex-Raipur | 12MM | 36,500 | 36,300 | 36,700 | + 100 | 36,300 | 35,700 | |
| Ex-Mumbai | 12MM | 39,500 | 39,100 | 39,600 | 0 | 39,100 | 39,100 | |
| Ex-Chennai | 12MM | 39,000 | 38,900 | 39,300 | 0 | 38,700 | 39,250 | |
| Ex-Hyderabad | 12MM | 39,000 | 38,500 | 39,000 | – 200 | 38,700 | 37,450 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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