Today, Indian Billet & Sponge market observed slight price corrections by INR 100-200/MT in major markets except in South India, Hyderabad where billet prices slump by INR 500/MT (USD 8).
Since couple of weeks there is constant fall in Indian steel prices due to domestic weak demand and lowering steel prices in the global market.
On 26th Sept, SteelMint’s price assessment for induction furnaces billet size 125×125 mm are reported at INR 25,800-27,500/MT (USD 403-423). While, 78-80 FeM sponge C-DRI price assessment was at INR 16,000-17,200/MT (USD 246-265); prices are ex-plant & excluding GST.
Today (Tuesday, September 26, 2017) INR to USD exchange rate stood at INR 65.52 & BSE Sensex closed at 31,599 (-26).
Updates
1. Central India – Raipur based Steel manufacturers are worried as rebate on power tariff (INR 1.40/unit) is going to expire on 30th Sept’17 and yet there is no clarification by the State government to extend it, sources from the association reported.
2. Steel Authority of India (SAIL) likely to cancel its 18,000 MT billet export tender due to low bids, the sources reported to SteelMint.
3. Melting scrap prices in Maharashtra decline by INR 300-500/MT due to falling domestic sponge & billet prices.
4. According to mill owners in Raipur, small quantity of steel grade Pig iron being purchased at INR 25,500-25,600/MT FOR, which general offers in open market around INR 26,000/MT ex-plant.
5. Integrated plants in Raipur offers sponge P-DRI at INR 15,700-15,800/MT which was at INR 15,800-15,900/MT on 25 Sept. Sponge DRCLO offers by medium size plants are assessed in the range of INR 17,500-17,800/MT for mix material, Ex-plant.
6. Odisha based small size sponge manufacturers reported buying interest for Sponge C-DRI mix material at INR 16,000-16,100/MT and offers are at INR 16,200-16,400/MT ex-plant.
7. BMM Ispat in Karnataka has offered sponge P-DRI at INR 16,500/MT and Sunvik Steels sponge C-DRI lumps at INR 17,000/MT. Both offers for FeM 80, excluding GST & ex-plant basis.
8. Indian domestic pellet prices down by INR 200-300/MT (W-o-W) due to slump in sponge prices.
9. Durgapur-West Bengal market closed due to festival. Trade activities will resume from 3rd Oct’17.
10. Pakistan domestic steel prices are firm since couple of week even though there is sharp fall in imported scrap offers. The prices are firm in line with strong demand in the domestic market.
Reference prices as on 26 September 2017
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | – | – | – | – | – | – |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 16,200 | 16,100 | 16,300 | -100 | 17,200 | 17,800 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 17,200 | 17,000 | 17,300 | -100 | 18,000 | 19,000 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 16,500 | 16,400 | 16,600 | 0 | 17,250 | 17,800 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | – | – | – | – | – | – |
| Ex-Rourkela | Lumps, FeM 78%, +/-1 | 15,200 | 15,100 | 15,300 | -200 | 15,800 | ||
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 15,700 | 15,600 | 15,800 | – 100 | 16,700 | 17,700 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 16,300 | 16,200 | 16,400 | 0 | 16,800 | 17,400 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 28,300 | 28,250 | 28,350 | -200 | 29,000 | 29,650 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | – | – | – | – | – | – | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 25,400 | 25,300 | 25,500 | 0 | 26,050 | 26,100 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 26,100 | 26,000 | 26,200 | 50 | 26,800 | 26,650 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 26,600 | 26,500 | 26,600 | 0 | 27,000 | 27,900 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 27,000 | 26,800 | 27,200 | -300 | 27,750 | 28,750 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 28,800 | 28,700 | 28,900 | -200 | 29,400 | 30,000 |
| Ex-Durgapur | 125×125 mm, IS 2831 | – | – | – | – | – | – | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 25,800 | 25,700 | 25,900 | 0 | 26,250 | 26,400 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 26,600 | 26,500 | 26,700 | 50 | 27,300 | 27,200 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 26,800 | 26,700 | 26,900 | 0 | 27,200 | 28100 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 27,500 | 27,400 | 27,600 | 0 | 28,000 | 29,250 | |
| TMT | Ex-Delhi/NCR | 12MM | 32,100 | 32,000 | 32,200 | 0 | 32,500 | 33,350 |
| Ex-Durgapur | 12MM | – | – | – | – | – | – | |
| Ex-Raipur | 12MM | 29,300 | 29,200 | 29,400 | 0 | 30,100 | 30,000 | |
| Ex-Mumbai | 12MM | 30,300 | 29,900 | 30,400 | -200 | 30,700 | 31,600 | |
| Ex-Chennai | 12MM | 31,500 | 31,400 | 31,600 | -100 | 32,000 | 33,000 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
Leave a Reply