On daily analysis, Indian Sponge & Billet offers further slightly fall by INR 100-300/MT owing to weak trade activities in the domestic market.
On 4th Oct, SteelMint’s price assessment for induction furnaces billet size 125×125 mm are reported at INR 25,800-27,500/MT (USD 397-423).
While, 78-80 FeM sponge C-DRI price assessment was at INR 15,500-16,500/MT (USD 238-254); prices are ex-plant & excluding GST.
Today (Wednesday, October 4, 2017) INR to USD exchange rate stood at INR 65.02 & BSE Sensex closed at 31,671 (+174).
Updates
1. According to trade sources, Vizag Steel cancels billet export tender of 15,000 MT (150*150 mm, IS 2830 C20 MMN GR A) for October end shipment, as the bids received below USD 475/MT FoB.
2. Indian sponge iron export offers correct by USD 10/MT. Current price assessment for 80 FeM sponge lumps are at around USD 320-325/MT CPT Benapole port (Bangladesh).
3. Indian pig iron offers remain under pressure over poor inquiries. Offers by East India based private pig iron manufacturers further reduced by INR 200-300/MT.
4. Granulated Pig iron offers are heard at INR 24,600-24,800/MT FOR Raipur & excluding GST.
5. Raipur, Central India based Integrated plants lowered Sponge P-DRI offers at INR 15,100-15,200/MT ex-plant against at INR 15,300-15,400/MT on 03rd Oct.
6. BMM Ispat in Karnataka has offered sponge P-DRI at INR 16,500/MT and Sunvik Steel’s sponge C-DRI lumps at INR 16,700/MT. Both offers for FeM 80, excluding GST & ex-plant basis.
7. Billet manufacturers in Maharashtra reported Sponge P-DRI offers by Raipur, Central India based manufacturers at INR 15,000-15,100/MT ex-plant.
8. Billet supply continue from Jalna, Maharashtra to Ahmedabad, Gujarat at INR 26,000/MT ex-plant.
Reference prices as on 4 October 2017
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 17,400 | 17,300 | 17,500 | – 100 | NA | 18600 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 15,900 | 15,800 | 16,000 | – 100 | 16,150 | 18000 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 16,500 | 16,400 | 16,600 | – 100 | 16,900 | 19000 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 16,500 | 16,500 | 16,700 | 0 | 16,500 | 18000 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 16,500 | 16,400 | 16,600 | 0 | NA | 17700 |
| Ex-Rourkela | Lumps, FeM 78%, +/-1 | 14,800 | 14,700 | 14,900 | NA | 15,000 | 16900 | |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 15,200 | 15,100 | 15,300 | – 100 | 15,500 | 17650 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 16,500 | 16,400 | 16,500 | + 100 | 16,300 | 17500 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 27,950 | 27,900 | 28,000 | – 200 | 28,150 | 29350 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 26,000 | 25,900 | 26,100 | 0 | NA | 26850 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 25,450 | 25,400 | 25,500 | – 100 | 25,250 | 26100 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 25,950 | 25,900 | 26,000 | – 250 | 25,850 | 26900 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 25,900 | 25,800 | 26,000 | 0 | 26,300 | 27800 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 27,000 | 26,800 | 27,200 | 0 | 27,000 | 28000 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 28,400 | 28,300 | 28,500 | – 100 | 28,500 | 29800 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 26,500 | 26,400 | 26,600 | – 100 | NA | 27250 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 25,800 | 25,700 | 25,900 | 0 | 25,500 | 26500 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 26,500 | 26,400 | 26,600 | – 200 | 26,300 | 27500 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 26,100 | 26,000 | 26,200 | 0 | 26,500 | 28000 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 27,500 | 27,400 | 27,600 | 0 | 27,500 | 28500 | |
| TMT | Ex-Delhi/NCR | 12MM | 31,700 | 31,600 | 31,800 | – 300 | 31,700 | 32100 |
| Ex-Durgapur | 12MM | 29,500 | 29,300 | 29,700 | 0 | NA | 30000 | |
| Ex-Raipur | 12MM | 29,200 | 29,100 | 29,300 | – 100 | 29,050 | 30300 | |
| Ex-Mumbai | 12MM | 29,400 | 29,000 | 29,500 | – 100 | 30,100 | 31000 | |
| Ex-Chennai | 12MM | 31,500 | 31,300 | 31,700 | 0 | 31,500 | 32500 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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