After continuous surge in the offers, today sponge and billet offers declined marginally in the major regions approximately INR 100-300/MT (upto USD 5).
Major drop is registered in East region – Durgapur by INR 300/MT, followed by Central Region-Raipur by INR 100/MT. However, in South Region-Hyderabad offers increase by INR 150/MT.
As per SteelMint’s assessment on 10th July 2017, the prices for FeM 78-80 C-DRI sponge are reported at INR 17,500-19,000/MT (USD 273-297).
While, induction furnaces billet (size 125×125 mm) are at INR 26,500-28,700/MT (USD 414-450) ex-works. Excluding GST at 18%.
Key Updates
1. Central India based manufacturers reduced P-DRI offers around INR 100/MT to INR 17,700-17,800/MT basic price & excluding of GST at 18%.
2. In West Bengal – Durgapur, big manufacturers have reduced their offers by INR 200-300/MT; P-DRI at INR 17,000-17,100/MT & C-DRI at INR 18,000-18,100/MT
3. Odisha based medium size manufacturers reported offers for FeM 80 C-DRI 70:30 mix material at INR 17,500-17,700/MT ex-plant & excluding of GST at 18%.
4. Sunvik Steels in Karnataka kept sponge prices stable; offering FeM 80 & 82 C-DRI are INR 17,600/MT and INR 18,000/MT ex-plant
Indian sponge & billet reference prices as on 10 August 2017
| Particular/Delivery | C-DRI | D-o-D | W-o-W | Billet | D-o-D | W-o-W |
| Ex-Raipur | 19,000 | 0 | 900 | 27,250 | -200 | 750 |
| Ex-Durgapur | 18,000 | -300 | 300 | 27,050 | -350 | 550 |
| Ex-Rourkela | 17,500 | 50 | 900 | 26,500 | 0 | 1,000 |
| Ex-Bellary | 17,500 | 0 | 800 | 28,000 | 0 | 500 |
| Ex-Ahmedabad | – | – | – | 28,400 | 150 | 800 |
| Ex-Mumbai | – | – | – | 28,450 | -50 | 800 |
Basic, ex-works prices & excluding of GST @ 18%
Source: SteelMint Research
Leave a Reply