Indian Billet & Sponge iron prices fall today in major markets of central, east & western regions by INR 100-500/MT. However in southern India the producers have slightly raised prices by INR 200-300/MT, day-on-day.
As per participants, spot trades remain thin as buyers have limited their purchases due to decline in prices.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 33,800-37,500/MT (USD 459-510) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 22,200-23,400/MT (USD 302-318); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 23rd October 2018 (Tuesday) INR to USD exchange rate stood at INR 73.52.
— BSE Sensex closed at 33,847(-287) on Tuesday, as against last day (Monday) at 34,134(-181).
— NSE Nifty50 index was closed today at 10,146(-98).
Trade Updates
— KIOCL (Kudremukh Iron Ore Company Limited) has recently concluded a deal of 50,000 MT pellets of Fe 65/64% grade (less than 2% alumina) at around USD 139-140/MT, FoB India- Sources.
— According to the latest assessment of Coking coal, spot prices of the Premium HCC are reported at around USD 219.25/MT FoB Australia & USD 235.65/MT CNF India.
— Presently, export offers of iron ore lumps, Fe 64%, South Africa are at USD 102/MT CNF India.
— Indian sponge iron export offers to Bangladesh have increased by USD 10/MT W-o-W. Latest price assessment for FeM 78-80 lumps, stood at USD 340-345/MT CPT Benapole (dry land port of Bangladesh & India) and USD 360-365/MT CFR Chittagong, Bangladesh.
— As per participants, small parcels have concluded of Induction grade billet exports to Nepal at around USD 475/MT ex-mill, Durgapur.
— As per officials from Bokaro, Jharkhand based Electro Steels, healthy deals for steel grade Pig iron at around INR 29,000/MT ex-plant & INR 29,500/MT FoR Durgapur, excluding GST.
— Govindam Sponge, an Odisha based plant offered FeM 80 sponge mix material at INR 22,700-22,800/MT & fines at INR 22,300-22,400/MT ex-plant.
— Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 22,700-22,800/MT & Billet at INR 34,000/MT ex-plant. As per officials, trade activities are weak at this offer prices.
— BMM Ispat in South India (Karnataka) has increase offers for FeM 80 P-DRI by INR 200/MT to INR 21,500-21,600/MT ex-Bellary, an official reported.
— BIOP Steels in South India has kept offers unaltered; offering FeM 80 & 82 C-DRI lumps at INR 22,300/MT & INR 22,800/MT ex-plant, Karnataka; an official reported.
— Apple Industries in Bellary (Karnataka) offered Sponge FeM 83+ P-DRI lump at INR 22,500/MT & Billet at INR 34,600/MT ex-plant.
— Raipur Central India based ERW pipe manufacturers increased prices by INR 200/MT & offers reported at around INR 40,800-41,000/MT. Prices are ex-plant & excluding GST.
— Hyderabad (South India) based Pipe manufacturer Mahalakshmi Profiles Pvt. Ltd (MPL) has raised offers by INR 400/MT for Electric Resistance Welded (ERW) Pipe & latest prices stood at INR 42,900/MT ex-plant. (basic & excluding GST).
— Raipur based wire rod suppliers have increased trade discount and today’s discount at about INR 800-1,200/MT.
Reference prices as on 23rd October 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 27,500 | 27,400 | 27,600 | + 100 | 26,700 | 27,900 |
| Ex-Mumbai | HMS(80:20) | 25,700 | 25,700 | 25,900 | + 200 | 25,500 | 28,000 | |
| Ex-Chennai | HMS(80:20) | 26,400 | 26,400 | 26,700 | + 400 | 26,200 | 27,300 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 23,400 | 23,300 | 23,500 | – 200 | NA | 23,100 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 22,600 | 22,500 | 22,700 | 0 | 22,100 | 24,600 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 23,300 | 23,200 | 23,400 | – 200 | 23,000 | 25,600 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 22,200 | 22,100 | 22,300 | 0 | 21,600 | 24,000 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 21,900 | 21,800 | 22,000 | – 200 | NA | 21,800 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 21,700 | 21,600 | 21,800 | – 200 | 21,500 | 23,900 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 21,400 | 21,300 | 21,500 | + 200 | 20,800 | 23,400 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 22,000 | 21,900 | 22,100 | 0 | 21,600 | 24,100 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 36,700 | 36,600 | 36,800 | – 400 | 36,000 | 37,200 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 34,300 | 34,200 | 34,400 | – 200 | 33,900 | 35,000 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 33,400 | 33,300 | 33,500 | – 100 | 32,600 | 34,100 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 33,550 | 33,500 | 33,600 | – 450 | 33,100 | 34,550 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 33,700 | 33,600 | 33,800 | – 100 | 33,900 | 36,300 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 35,300 | 35,300 | 35,500 | 0 | 35,200 | 37,500 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 34,700 | 34,600 | 34,800 | + 200 | 34,500 | 37,000 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 37,500 | 37,400 | 37,600 | – 400 | 36,800 | 37,800 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 34,800 | 34,700 | 34,900 | – 200 | 34,300 | 35,500 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 33,900 | 33,800 | 34,000 | – 100 | 33,100 | 34,900 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 34,400 | 34,300 | 34,500 | – 500 | 34,000 | 35,500 | |
| Ex-Ahmedabad | 125×125 mm, IS 2831 | 34,750 | 34,700 | 34,800 | – 250 | 34,400 | 36,450 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 33,900 | 33,800 | 34,000 | – 100 | 34,100 | 36,550 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 35,800 | 35,800 | 36,000 | 0 | 35,700 | 38,000 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 35,000 | 34,900 | 35,100 | + 300 | 34,800 | 37,300 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 40,100 | 40,000 | 40,400 | – 100 | 39,100 | 40,400 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 39,800 | 39,600 | 40,000 | + 100 | NA | 40,100 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 37,800 | 37,800 | 40,000 | 0 | 37,400 | 39,000 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 37,700 | 37,500 | 38,000 | – 100 | 38,300 | 40,400 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 40,800 | 40,700 | 41,000 | + 200 | 40,700 | 42,700 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 38,700 | 38,500 | 38,900 | + 200 | 38,500 | 40,700 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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