Today Indian Sponge & Billet prices marginally fluctuates by INR 100/MT amid average trade activities. The standalone Billet producers in Central, East & West regions also reported usual bookings hence maintained offers firm.
SteelMint’s latest price assessment for induction furnaces Billet in Indian market stood at INR 36,000-39,700/MT (USD 534-589) ex-plant. Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 20,500-22,000/MT (USD 304-326); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 30th May 2018 (Wednesday) INR to USD exchange rate stood at INR 67.43
— BSE Sensex closed at 34,906(-43) on Wednesday, as against last day (Tuesday) at 34,949(-216)
Key Updates
— Iron ore dispatches from Chhattisgarh recorded a decline of 3% to 19.19 MnT in FY’18 as compared to 19.75 MnT in FY’17
— OMC to conduct next e-auction for 280,000 MT iron ore CLO and Lump on 05 Jun’18
— The import offers for the Premium Low-Vol HCC (coking coal) are assessed at around USD 183/MT FOB Australia, lower by about USD 1.75/MT than the week-ago rates
— Imported scrap offers to India for HMS 1&2 (80:20) Dubai origin containers stood at around USD 370/MT, CFR Nhava Sheva
— Durgapur based Neo Metaliks has reported latest offers for steel grade Pig iron at around INR 31,000/MT against last trading at INR 31,200/MT ex-plant
— Ludhiana, North India based trade participants reported steel & foundry grade pig iron offers at INR 31,400/MT & INR 34,100/MT on FoR basis & excluding 18% GST.
— Indian induction grade billet export offers to Nepal hovering at USD 545-550/MT ex-mill, Durgapur & USD 540/MT ex-mill Odisha, Eastern India.
— BHEL had invited a global tender for purchase of 12,100 MT carbon steel/alloy steel round rolled bloom for manufacturing of hot and cold finished seamless steel tubes/pipes as per IBR at Tiruchirappalli, Tamil Nadu.
— Raipur, Central India based Integrated plants offer unaltered, offering Sponge P-DRI at INR 19,600-19,700/MT & Sponge DR CLO grade at INR 22,600-22,800/MT ex-plant
— BMM Ispat a price trend setter in South Indian sponge market has kept offers unaltered today and offering FeM 80 P-DRI lumps at INR 19,800-19,900/MT ex-Bellary, Karnataka.
— BIOP Steels in South India has offered FeM 80 & 82 C-DRI lumps at INR 20,400/MT & 20,800/MT ex-plant, Karnataka, trade activities are weak at these offers; an official reported.
Reference prices as on 30th May 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Chennai | HMS(80:20) | 26,700 | 26,600 | 26,800 | 0 | 26,700 | 26,400 |
| Ex-Mumbai | HMS(80:20) | 27,600 | 27,500 | 27,700 | + 100 | 27,600 | 26,700 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 22,000 | 21,900 | 22,100 | + 100 | 21,750 | 23,200 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 20,800 | 20,700 | 20,900 | 0 | 21,000 | 21,300 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 21,750 | 21,700 | 21,800 | 0 | 22,000 | 22,400 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 20,500 | 20,400 | 20,600 | – 200 | 20,700 | 19,700 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 20,500 | 20,400 | 20,600 | + 50 | 20,350 | 21,700 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 19,650 | 19,600 | 19,700 | 0 | 19,800 | 20,300 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,800 | 19,700 | 19,900 | 0 | 19,700 | 18,800 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 20,400 | 20,300 | 20,500 | – 100 | 20,300 | 19,700 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 38,900 | 38,800 | 39,000 | – 200 | 39,000 | 38,800 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 36,500 | 36,400 | 36,600 | + 100 | 36,100 | 36,700 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 36,000 | 35,900 | 36,100 | + 100 | 35,200 | 35,200 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 36,050 | 36,000 | 36,100 | – 50 | 35,800 | 35,000 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 36,800 | 36,700 | 36,900 | 0 | 36,400 | 37,000 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 36,300 | 36,100 | 36,500 | 0 | 35,300 | 36,500 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 35,700 | 35,600 | 35,800 | 0 | 36,200 | 36,000 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 39,700 | 39,600 | 39,900 | – 200 | 39,800 | 39,500 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 37,000 | 36,900 | 37,100 | 0 | 36,700 | 37,200 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 36,400 | 36,300 | 36,400 | 0 | 36,000 | 35,800 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 37,150 | 37,100 | 37,200 | – 100 | 37,000 | 36,000 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 37,100 | 37,000 | 37,200 | 0 | 37,000 | 37,400 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 36,700 | 36,500 | 37,000 | – 50 | 35,800 | 37,000 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 36,000 | 35,900 | 36,100 | 0 | 36,500 | 36,250 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 44,300 | 44,100 | 44,500 | 0 | 43,000 | 42,200 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 41,600 | 41,400 | 41,800 | + 50 | 41,500 | 41,500 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 41,600 | 41,400 | 41,800 | + 100 | 40,800 | 39,800 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 40,700 | 40,300 | 40,800 | 0 | 40,800 | 40,900 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 41,000 | 40,700 | 41,200 | 0 | 40,600 | 41,200 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 40,500 | 40,300 | 40,700 | 0 | 41,000 | 40,750 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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