On 25 August, Indian domestic Semi-finished market observed slight price fluctuation of INR 100-300/MT affected by the festive off in the major Indian trade markets which led to minimal inquires.
SteelMint’s price assessments for induction furnaces billet size 125×125 mm are reported at INR 26,000-29,250/MT (USD 406-457) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 17,300-18,700/MT (USD 270-292) ex-plant.
Key Updates
1. Indian Iron ore production increased by 2% M-o-M in Jun’17 to 16.3 MnT.
2. According to sources, Raipur based Integrated plants have sold out good quantity of sponge P-DRI at INR 17,100-17,300/MT yesterday. Today, the offers are heard at INR 17,300-17,500/MT.
3. Durgapur based big manufacturers maintained offers at same levels as a day ago; offering FeM 78 C-DRI at INR 17,800/MT & Billet at INR 26,700-26,800/MT, basic & excluding of GST.
4. Jharsuguda (Odisha) based sponge manufacturer selling 79-80 FeM P-DRI at INR 17,200-17,300/MT FoR Raipur & excluding of GST.
5. Sunvik Steels in Karnataka has reduced offers by INR 500/MT; offering FeM 80 & 82 sponge C-DRI lumps are INR 17,400/MT & INR 17,800/MT ex-plant, respectively.
6. Today, melting scrap (HMS 80:20) prices in India up by INR 100-200/MT.
7. Rebar producers in Central & East India kept offer firm, reported low inquiries.
Indian sponge & billet reference prices as on 25 August 2017
| Particular/Delivery | C-DRI | D-o-D | W-o-W | Billet | D-o-D | W-o-W |
| Ex-Raipur | 18,700 | -100 | -500 | 26,800 | +100 | -600 |
| Ex-Durgapur | 17,800 | 0 | -700 | 26,800 | +50 | -850 |
| Ex-Rourkela | 17,500 | -100 | -700 | 26,000 | -300 | -1,000 |
| Ex-Bellary | 17,300 | -100 | -700 | 28,000 | 0 | -500 |
| Ex-Ahmedabad | – | – | – | 28,500 | +100 | -600 |
Basic, ex-works prices & excluding of GST @ 18%
Source: SteelMint Research
Leave a Reply