Indian billet and sponge prices fluctuated by INR 100-300/MT on daily analysis, the trade showed mix trends as per the industry participants.
SteelMint’s price assessments for induction furnaces billet size 125×125 mm are reported at INR 26,400-29,600/MT (USD 412-462) ex-plant.
While, coal based sponge C-DRI price assessment was at INR 17,800-19,000/MT (USD 278-296) ex-plant.
Key Market Updates:
1. Raipur based Integrated plants kept sponge P-DRI offes firm at INR 17,600-17,700/MT but demand remain moderate, one of the sources reported.
2. Durgapur, East India based big manufacturers rollover sponge prices for the day; P-DRI at INR 17,300/MT & C-DRI at INR 18,300/MT basic & excluding of GST at 18%.
3. Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 17,800/MT & billet at INR 26,500/MT ex-plant.
4. A day before, OCL Iron & Steel, a large Semis manufacturer from Odisha sold billet at INR 26,000/MT ex-Plant.
5. Sunvik Steels in Karnataka kept sponge prices unaltered; offering FeM 80 & 82 C-DRI are INR 17,700/MT and INR 18,100/MT ex-plant
6. Prakash Sponge, a prime grade sponge maker in Karnataka sold FeM 80 C-DRI lumps to Kerela at INR 18,000/MT ex-plant.
7. NMDC Limited has extended the deadline upto 20 Sep’17 for submission of bids against its Expression of Interest (EoI) for supplying Coking Coal to the company.
Reference prices as on 29 August 2017
| Particular/Delivery | Size, Grade, Origin | Prices | Change | 1W | 1M | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 18,300 | + 50 | 18,300 | 17,400 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 17,800 | + 100 | 17,900 | 16,350 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 19,000 | 0 | 18,900 | 17,500 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 17,800 | + 100 | 17,700 | 16,600 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 17,300 | + 50 | 17,400 | 16,400 |
| Ex-Rourkela | Lumps, FeM 78%, +/-1 | 16,800 | + 100 | 17,100 | NA | |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 17,700 | + 200 | 17,900 | 16,500 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 17,400 | 0 | 17,500 | 16,400 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 29,650 | + 50 | 29,500 | 28,850 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 26,900 | 0 | 26,800 | 25,600 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 26,100 | – 150 | 26,200 | 25,250 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 26,650 | – 150 | 26,400 | 25,850 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 27,900 | + 100 | 27,800 | 27,000 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 28,750 | 0 | 29,000 | 27,250 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 30,000 | 0 | 29,800 | 28,900 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 27,250 | 0 | 27,250 | 26,150 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 26,400 | – 150 | 26,500 | 25,550 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 27,200 | – 100 | 26,900 | 26,350 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 28,100 | + 100 | 28,000 | 27,200 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 29,250 | 0 | 29,500 | 27,750 | |
| TMT | Ex-Delhi/NCR | 12MM | 33,350 | 0 | 34,150 | 33,000 |
| Ex-Durgapur | 12MM | 30,000 | + 200 | 29,800 | 29,000 | |
| Ex-Raipur | 12MM | 30,000 | + 100 | 29,800 | 28,800 | |
| Ex-Mumbai | 12MM | 31,600 | + 200 | 32,200 | 30,800 | |
| Ex-Chennai | 12MM | 33,000 | 0 | 32,800 | 31,800 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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