Indian Sponge iron & Billet prices remain slightly fluctuated on limited trade inquiries. The producers in major markets reported rising inventories as dispatches halt post the transporters strike.
As per SteelMint assessment, the prices of Sponge & Billet have fluctuated by INR 100-200/MT, day-on-day.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 30,600-34,300/MT (USD 443-497) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 18,900-21,700/MT (USD 273-315); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 24th July 2018 (Tuesday) INR to USD exchange rate stood at INR 68.92
— BSE Sensex closed at 36,825(+106) on Tuesday, as against last day (Monday) at 36,718(+222).
Trade Updates
— Jindal SAW (Rajasthan) increased pellet offers by INR 150/MT(USD 2). Offers for Fe 63% grade pellets are assessed around INR 7,500/MT (delivered Kandla) against last weeks’s assessment of INR 7,350/MT.
— In Durgapur (eastern India) reference pellet price assessment stands at INR 6,500/MT (delivered); down by INR 150/MT against last week assessment at INR 6,600-6,700/MT.
— South African RB2 (5500 NAR) coal offers are assessed at USD 88/MT on FoB basis & USD 102/MT CNF India. Prices decline by USD 2-3/MT on weekly basis..
— Prices for Indian buyers of Met Coke 64%, China are assessed at USD 351/MT, decline by USD 9/MT in a week trade activities.(GST 5%, Imp Duty 5%, Social Welfare Charges 10% Extra)
— Raipur, Central India based Integrated plants have increased offers by INR 100/MT day-on-day and offering Sponge P-DRI at INR 19,700-19,900/MT ex-plant.
— Durgapur based big plants offering P-DRI at INR 19,000-19,200/MT which was at INR 19,000/MT on 23rd July.
— Govindam Sponge, an Odisha based plant offered FeM 80 sponge mix material at INR 20,700-20,800/MT & fines at INR 20,300/MT ex-plant;
— BMM Ispat, a renowned sponge manufacturer offering FeM 80 P-DRI lumps at INR 18,300-18,400/MT ex-Bellary, Karnataka.
— BIOP Steels in South India has reduced sponge offers by around INR 100/MT, offering FeM 80 & 82 C-DRI lumps at INR 19,200/MT & INR 19,600/MT ex-plant, Karnataka; an official reported.
— Hyderabad, South India based steel manufacturers kept offers unaltered, offering Billet at INR 33,500/MT, FeM 80 P-DRI at INR 18,800-19,000/MT & 28 MM Rebar INR 35,500/MT. prices are ex-plant & excluding GST.
— The suppliers in Raipur have marginally increased trade discount on Wire rod and current discount are in the range at INR 800-1,200/MT.
Reference prices as on 24th July 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Mumbai | HMS(80:20) | 24,500 | 24,400 | 24,600 | 0 | 24,500 | 25,400 |
| Ex-Chennai | HMS(80:20) | 22,600 | 22,500 | 22,800 | 0 | 23,200 | 25,000 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 20,300 | 20,200 | 20,400 | + 100 | 20,450 | 22,100 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 20,600 | 20,500 | 20,700 | 0 | 20,750 | 20,700 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 21,700 | 21,600 | 21,800 | 0 | 21,700 | 21,400 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 18,900 | 18,800 | 19,000 | – 100 | 19,300 | 19,200 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 19,100 | 19,000 | 19,200 | + 100 | 19,450 | 21,000 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 19,800 | 19,700 | 19,900 | + 100 | 19,950 | 19,500 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 18,300 | 18,200 | 18,400 | + 100 | 18,600 | 18,600 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 18,800 | 18,700 | 19,000 | 0 | 19,100 | 19,700 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 33,800 | 33,700 | 33,900 | – 100 | 34,750 | 37,500 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 30,700 | 30,600 | 30,800 | – 100 | 31,500 | 34,400 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 30,100 | 30,000 | 30,200 | – 100 | 31,000 | 33,900 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 30,400 | 30,300 | 30,500 | – 300 | 31,400 | 33,800 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 31,400 | 31,300 | 31,500 | – 100 | 32,300 | 34,800 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 33,500 | 33,400 | 33,600 | 0 | 34,000 | 34,700 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 33,200 | 33,100 | 33,300 | 0 | 33,700 | 34,200 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 34,300 | 34,200 | 34,400 | – 100 | 35,200 | 38,000 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 31,300 | 31,200 | 31,400 | – 100 | 32,000 | 34,800 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 30,900 | 30,800 | 31,000 | 0 | 31,500 | 34,500 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 31,150 | 31,100 | 31,200 | – 150 | 32,100 | 34,800 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 31,750 | 31,700 | 31,800 | – 50 | 32,700 | 35,000 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 34,000 | 33,900 | 34,100 | 0 | 34,500 | 35,200 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 33,500 | 33,400 | 33,600 | 0 | 34,000 | 34,500 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 37,400 | 37,200 | 37,600 | – 300 | 39,200 | 42,800 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 35,500 | 35,300 | 35,700 | – 100 | 36,300 | 39,800 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 34,900 | 34,700 | 35,100 | – 200 | 35,700 | 39,800 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 35,800 | 35,400 | 35,900 | 0 | 36,400 | 38,800 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 38,900 | 38,700 | 39,100 | – 100 | 39,400 | 40,300 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 38,000 | 37,500 | 38,000 | 0 | 38,500 | 39,500 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
Leave a Reply