Indian Semis prices remain slightly fluctuate, Sponge by INR 100-200/MT & Billet by INR 200-500/MT on daily analysis, the trade showed mix trends as per the industry participants.
In South region, the billet producers today have reduced their offers by INR 500/MT owing to low inquiries and significant prices fall in Central & West India which are the competitors.
SteelMint’s price assessments for induction furnaces billet size 125×125 mm are reported at INR 25,500-27,500/MT (USD 391-421) ex-plant.
Further the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 15,500-16,500/MT (USD 237-253); prices are ex-plant & excluding GST.
Today (Tuesday, October 10, 2017) INR to USD exchange rate stood at INR 65.18 & BSE Sensex closed at 31,942 (+77).
Key Updates
1. Odisha based major merchant miners kept iron ore offers remain unaltered. And as per the sources the prices may remain same for rest of ongoing month due to the upcoming festive holidays.
2. Indian pellet offers have come down by INR 100-500/MT (W-o-W) in week 42.
3. During Jan-Jul’17, Indian Sponge Iron exports increase by 50% to 270,000 MT against same preceding last year at 180,000 MT.
4. Odisha based medium size sponge manufacturers reported firm offers; FeM 80 C-DRI (70:30 mix material) at INR 15,800/MT ex-plant & excluding GST.
5. A day before, Monnet Ispat offered FeM 80 C-DRI lumps at INR 15,600/MT & P-DRI at INR 14,500/MT ex-plant, Raigarh. Also offered P-DRI from its Raipur based plant at INR 15,100/MT ex-plant; trade activities are firm at these offers, the officials reported.
6. Raigarh (CG) based furnaces may face critical power cuts this week as Jindal Power runs short of supply. As per sources, Raigarh has monthly Ingot/billet production of around 80,000-90,000 MT.
7. BMM Ispat in South India has kept offers unaltered, offering FeM 80 P-DRI lumps at INR 16,000-16,100/MT ex-Bellary, Karnataka.
8. Raipur, Chattisgarh based Medium & Small structure mills today have further cuts prices by INR 200-300/MT for both light & heavy structures due to low inquiries, the producer sources reported.
9. RINL’s (Vizag Steel) wire rod export tender of 11,008 MT (equivalent to 3 rakes) for Nepal, which expired on 3rd Oct’17 has received weak response and as per the sources only a rake of wire rod export deal has been concluded at around USD 520-525/MT (ex-mill). The rest of material remain unsold or under negotiation mode.
Reference prices as on 10 October 2017
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 17,050 | 17,000 | 17,100 | 0 | 17,500 | 17,650 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 15,800 | 15,700 | 15,800 | 0 | 16,000 | 17,500 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 16,500 | 16,400 | 16,600 | 0 | 16,600 | 18,400 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 16,300 | 16,200 | 16,400 | 0 | 16,500 | 17,700 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 16,700 | 16,600 | 16,800 | 0 | 17,000 | 17,800 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 16,150 | 16,100 | 16,200 | – 50 | 16,500 | 16,700 |
| Ex-Rourkela | Lumps, FeM 78%, +/-1 | 14,400 | 14,300 | 14,500 | – 100 | NA | 16,400 | |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 15,000 | 14,900 | 15,100 | 0 | 15,300 | 17,000 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 16,100 | 16,000 | 16,200 | 0 | 16,400 | 17,400 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 16,700 | 16,500 | 17,000 | 0 | 17,000 | 17,800 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 28,400 | 28,300 | 28,500 | + 200 | 28,150 | 28,650 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 25,850 | 25,800 | 25,900 | + 50 | 26,000 | 26,000 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 25,300 | 25,200 | 25,400 | + 100 | 25,550 | 25,800 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 25,550 | 25,500 | 25,600 | – 50 | 26,200 | 26,300 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 25,900 | 25,800 | 26,000 | + 150 | 25,900 | 27,300 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 27,000 | 26,800 | 27,200 | 0 | 27,000 | 28,000 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 25,500 | 25,500 | 25,750 | – 500 | 26,500 | 28,000 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 28,800 | 28,700 | 28,900 | + 200 | 28,500 | 29,100 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 26,250 | 26,200 | 26,300 | + 50 | 26,600 | 26,400 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 25,550 | 25,500 | 25,600 | 0 | 25,800 | 26,200 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 26,100 | 26,000 | 26,200 | 0 | 26,700 | 26,800 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 26,100 | 26,100 | 26,200 | + 100 | 26,100 | 27,500 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 27,500 | 27,400 | 27,600 | 0 | 27,500 | 28,500 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 25,500 | 25,500 | 25,750 | – 500 | 26,500 | 28,000 | |
| TMT | Ex-Delhi/NCR | 12MM | 32,500 | 32,400 | 32,600 | + 100 | 32,000 | 32,000 |
| Ex-Durgapur | 12MM | 29,500 | 29,300 | 29,700 | 0 | 29,500 | 29,500 | |
| Ex-Raipur | 12MM | 28,900 | 28,700 | 29,100 | 0 | 29,300 | 29,600 | |
| Ex-Mumbai | 12MM | 29,100 | 28,700 | 29,200 | 0 | 29,500 | 31,100 | |
| Ex-Chennai | 12MM | 31,000 | 30,900 | 31,100 | 0 | 31,500 | 32,500 | |
| Ex-Hyderabad | 12MM | 28,500 | 28,300 | 28,700 | – 500 | 29,500 | 31,000 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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