Domestic Semi finished prices moved downward on 12 Sep’17, as weak sentiments continuous. In fresh update, the prices fall – Sponge by INR 100-300/MT & Billet by INR 100-400/MT D-o-D.
SteelMint’s price assessments for induction furnaces billet size 125×125 mm are reported at INR 26,200-28,500/MT (USD 410-445) ex-plant.
While, coal based 78-80 FeM sponge C-DRI price assessment was at INR 17,500-18,400/MT (USD 273-288) ex-plant.
Trade Updates:
1. Raipur based few medium size plants heard to have sold P-DRI at INR 17,000-17,100/MT which was yesterday around INR 17,200/MT ex-plant & excluding of GST. Sponge DR-CLO grade offers are reported in the range of INR 18,900-19,100/MT for mix material.
2. Big plants in Durgapur, East India offered Sponge C-DRI at INR 17,600-17,700/MT & P-DRI at INR 16,700/MT; basic & excluding of GST. According to sources, Billet being sold from Durgapur to Mandi Gobindgarh (Punjab) at around INR 26,400-26,500/MT ex-plant, freight via road at INR 2,300-2,500/MT.
3. Jharsuguda (Odisha) based sponge manufacturer selling 79-80 FeM P-DRI at INR 16,900-17,000/MT FoR Raipur. While few deals also concluded for C-DRI at INR 18,500/MT FoR Raipur, sources shared.
4. BMM Ispat in South India has slightly reduced offers for FeM 80 P-DRI at INR 17,400/MT ex-Bellary, Karnataka.
5. Sunvik Steels in Karnataka has reduced sponge offers by INR 400/MT; offering FeM 80 & 82 sponge C-DRI lumps are INR 18,100/MT & INR 18,500/MT ex-plant, respectively.
6. Coal Imports at India’s 12 major ports has fallen 12% Y-o-Y to 55.638 MnT (Apr’17-Aug’17 against 63.581 MnT (Apr’16-Aug’16).
Reference prices as on 12 September 2017
| Particular/Delivery | Size, Grade, Origin | Prices | Change | 1W | 1M | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 17,650 | – 150 | 18,500 | 18,300 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 17,500 | – 200 | 17,900 | 17,500 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 18,400 | – 200 | 19,200 | 19,000 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 17,700 | – 100 | 17,750 | 17,450 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 16,700 | – 200 | 17,500 | 17,300 |
| Ex-Rourkela | Lumps, FeM 78%, +/-1 | 16,400 | – 50 | 16,850 | NA | |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 17,000 | – 300 | 17,800 | 17,600 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 17,400 | – 100 | 17,450 | 17,400 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 28,650 | – 100 | 29,600 | 29,550 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 26,000 | – 200 | 27,000 | 26,800 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 25,800 | 0 | 26,150 | 26,350 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 26,300 | – 200 | 27,000 | 26,500 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 27,300 | – 300 | 27,800 | 28,500 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 28,000 | 0 | 28,000 | 28,250 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 29,100 | – 100 | 30,100 | 29,700 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 26,400 | – 150 | 27,450 | 27,300 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 26,200 | – 100 | 26,550 | 26,600 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 26,800 | – 150 | 27,500 | 26,950 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 27,500 | – 300 | 28,000 | 28,700 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 28,500 | 0 | 28,500 | 28,750 | |
| TMT | Ex-Delhi/NCR | 12MM | 32,000 | 0 | 32,300 | 33,600 |
| Ex-Durgapur | 12MM | 29,500 | – 200 | 30,100 | 29,700 | |
| Ex-Raipur | 12MM | 29,600 | – 200 | 30,200 | 29,200 | |
| Ex-Mumbai | 12MM | 31,100 | + 200 | 31,000 | 32,100 | |
| Ex-Chennai | 12MM | 32,500 | 0 | 32,500 | 32,250 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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