On 1st September, Indian sponge & billet prices declined marginally by INR 100-300/MT. The Semis market continuously in downtrend owing to weak demand amid holiday’s mood in the market.
As the inquiries are low, the producers are forced to deal at lower prices, trade participants reported to SteelMint.
For the day, SteelMint’s price assessments for induction furnaces billet (size 125×125) mm are reported at INR 26,100-29,100/MT (USD 407-455) ex-plant.
Further the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 17,500-18,800/MT (USD 273-294) ex-plant.
Key Updates
1. Vizag Steel, has floated a tender for export of 24,768 MT billet & 13,760 MT wire rod coil to Nepal.
2. Imported scrap offers to India fall marginally. HMS offers from Dubai are assessed at USD 315/MT CFR Nhava Sheva.
3. Raipur based Integrated plants are heard to have concluded few deals for P-DRI at the price range of INR 17,200-17,300/MT ex-plant & excluding of GST.
4. Durgapur based big manufacturers reduced sponge offers by INR 100/MT; offering FeM 78 C-DRI at INR 18,100/MT & P-DRI at INR 17,100/MT ex-plant, basic & excluding of GST.
5. Few Raigarh based smelters are buying 80 FeM P-DRI from Odisha at INR 16,700-16,800/MT FoR Raigarh
6. Jharsuguda (Odisha) based sponge manufacturer are selling 80 FeM P-DRI at INR 17,200/MT FoR Raipur. While few deals are also concluded for C-DRI at INR 18,500/MT FoR Raipur
7. Sunvik Steels in Karnataka has reduced offers by INR 300-400/MT; offering FeM 80 & 82 sponge C-DRI lumps are INR 17,400/MT & INR 17,700/MT ex-plant, respectively.
Reference prices as on 1 September 2017
| Particular/Delivery | Size, Grade, Origin | Prices | Change | 1W | 1M | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 18,100 | – 100 | 17,800 | 17,850 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 17,500 | – 100 | 17,500 | 17,000 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 18,800 | – 100 | 18,700 | 18,200 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 17,500 | – 100 | 17,300 | 16,800 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 17,100 | – 100 | 16,800 | 16,850 |
| Ex-Rourkela | Lumps, FeM 78%, +/-1 | 16,500 | 0 | 16,600 | NA | |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 17,300 | – 100 | 17,400 | 17,100 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 17,200 | 0 | 17,100 | 16,500 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 29,250 | – 50 | 29,250 | 29,300 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 26,750 | – 100 | 26,500 | 26,300 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 25,800 | – 100 | 25,600 | 25,500 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 26,350 | – 50 | 26,350 | 26,150 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 28,100 | – 100 | NA | 27,700 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 28,250 | – 250 | 28,750 | 27,500 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 29,600 | – 100 | 29,500 | 29,500 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 27,100 | – 100 | 26,800 | 26,700 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 26,250 | – 100 | 26,000 | 26,000 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 26,850 | – 50 | 26,800 | 26,700 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 28,350 | – 50 | NA | 27,900 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 28,750 | – 250 | 29,250 | 28,000 | |
| TMT | Ex-Delhi/NCR | 12MM | 32,700 | – 250 | 32,500 | 33,000 |
| Ex-Durgapur | 12MM | 29,800 | 0 | 29,500 | 29,200 | |
| Ex-Raipur | 12MM | 29,500 | – 100 | 29,600 | 29,100 | |
| Ex-Mumbai | 12MM | 31,600 | 0 | NA | 31,100 | |
| Ex-Chennai | 12MM | 32,500 | – 250 | 33,000 | 31,800 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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