Indian domestic Sponge & Billet prices remain on downtrend on 5th October, Thursday. The prices have registered fall of INR 100-300/MT (USD 1-5).
According to the trade participants, low inquiries and rising inventories have forced the producers to further lower their offers.
SteelMint’s price assessment for induction furnaces billet size 125×125 mm are reported at INR 25,600-27,500/MT (USD 394-423) ex-plant.
Further the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 15,300-16,400/MT (USD 235-252); prices are ex-plant & excluding GST.
Today (Thursday, October 5, 2017) INR to USD exchange rate stood at INR 65.13 & BSE Sensex closed at 31,592 (-79).
Updates
1. NMDC cuts Iron ore prices upto 5% for october deliveries, Baila lump (65 FeM, 6-40 mm) down by INR 100/MT to INR 2,300/MT.
2. Odisha Iron ore production up by 10% M-o-M in Aug’17 the state produced 6.87 MnT iron ore in Aug’17 against 6.22 MnT in Jul’17.
3. Odisha Mining Corporation (OMC), a state-owned miner conducted iron ore e-auction yesterday (i.e on 4 Oct’17) for 310,000 MT iron ore lump.
4. Raipur, Central India based Integrated plants offered Sponge P-DRI at INR 15,000/MT ex-plant , which was at INR 15,200-15,300/MT on 4th Oct.
5. Durgapur based big plants lower sponge offers by INR 100/MT. P-DRI offers are assessed at INR 16,300-16,400/MT & C-DRI at INR 17,200-17,300/MT
6. BMM Ispat in South India has reduced offers for FeM 80 P-DRI lumps by INR 300-400/MT to INR 16,100-16,200/MT ex-Bellary, Karnataka.
7. According to sources, SAIL has rolled over rebar prices for Oct’17. The offers are reported for 12-25mm rebars at around INR 34,000/MT ex-Mumbai/Chennai.
8. Major Indian Steel Mills Roll Over Flat Steel Prices for October. Currently, trade reference prices (basic) for HRC (IS 2062) 2.5 mm-8 mm are assessed in the range of INR 38,000-38,750/MT (ex-Mumbai),
Reference prices as on 5 October 2017
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 17,300 | 17,200 | 17,400 | – 100 | NA | 18,350 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 15,800 | 15,700 | 15,900 | – 100 | 16,100 | 17,850 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 16,400 | 16,300 | 16,500 | – 100 | 16,700 | 18,800 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 16,400 | 16,300 | 16,500 | – 100 | 16,500 | 18,000 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 16,400 | 16,300 | 16,500 | – 100 | NA | 17,400 |
| Ex-Rourkela | Lumps, FeM 78%, +/-1 | 14,700 | 14,700 | 14,800 | – 100 | 14,900 | 16,800 | |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 15,000 | 14,900 | 15,100 | – 200 | 15,300 | 17,600 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 16,200 | 16,100 | 16,300 | – 300 | 16,300 | 17,500 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 27,700 | 27,600 | 27,800 | – 250 | 27,900 | 29,250 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 25,900 | 25,800 | 26,000 | – 100 | NA | 26,600 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 25,200 | 25,100 | 25,300 | – 250 | 25,200 | 26,000 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 25,650 | 25,600 | 25,700 | – 300 | 25,650 | 26,700 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 26,000 | 25,900 | 26,100 | + 100 | 26,100 | 28,000 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 27,000 | 26,800 | 27,200 | 0 | 27,000 | 28,000 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 28,100 | 28,000 | 28,200 | – 300 | 28,400 | 29,700 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 26,400 | 26,300 | 26,500 | – 100 | NA | 27,000 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 25,650 | 25,600 | 25,700 | – 150 | 25,400 | 26,350 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 26,250 | 26,200 | 26,300 | – 250 | 26,100 | 27,300 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 26,200 | 26,100 | 26,200 | + 100 | 26,300 | 28,200 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 27,500 | 27,400 | 27,600 | 0 | 27,500 | 28,500 | |
| TMT | Ex-Delhi/NCR | 12MM | 31,700 | 31,600 | 31,800 | 0 | 31,700 | 32,000 |
| Ex-Durgapur | 12MM | 29,500 | 29,300 | 29,700 | 0 | NA | 29,800 | |
| Ex-Raipur | 12MM | 29,000 | 28,800 | 29,200 | – 200 | 28,900 | 30,100 | |
| Ex-Mumbai | 12MM | 29,400 | 29,000 | 29,500 | 0 | 29,900 | 31,200 | |
| Ex-Chennai | 12MM | 31,500 | 31,300 | 31,700 | 0 | 31,500 | 32,500 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
Leave a Reply