Indian Billet & Sponge prices remain slightly fluctuate today by INR 100-200/MT following bearish demand in long steel products.
On 12th October 2017, SteelMint’s price assessment for induction furnaces grade billet (size 125×125 mm) are reported at INR 25,500-27,500/MT (USD 392-423) ex-works. Further the coal based sponge C-DRI price assessment was at INR 15,300-16,600/MT (USD 235-255), prices are ex-plant & excluding GST.
Today (Thursday, October 12, 2017) INR to USD exchange rate stood at INR 65.05 & BSE Sensex closed at 32,182 (+348).
Key Updates
1. Tata Steel has terminated the purchase agreement with Aryan Mining & Trading Corporation (AMTC) for acquisition of BRPL’s pellet plant.
2. As per the Indian Port Association, Indian coal Imports at 12 major ports has fallen by 10% Y-o-Y in H1 FY18, total coal import during Q1 FY18 stood at 66.102 MnT against 73.393 MnT in Q1 FY17.
3. India received the highest monthly Non-coking coal shipments of 3.56 MnT in Sep’17, up 28% M-o-M from 2.77 MnT in Aug’17
4. Vedanta Resource Pig Iron production fall by 16% (Q-o-Q) to 137,000 MT in Q2 FY18 against Q1 FY18 at 163,000 MT.
5. Raipur, Central India based Integrated plants offered Sponge P-DRI at INR 14,800/MT ex-plant , which was at INR 14,900-15,000/MT on 11th Oct’17.
6. Durgapur based big plants have slightly increase sponge & billet offers around INR 100/MT. The offers by the producers are reported at INR 16,100-16,200/MT for Sponge P-DRI & INR 26,400/MT for billet.
7. Sponge offers remained firm by Odisha based medium size sponge manufacturers. Today’s the offers are evaluated for FeM 80 C-DRI 70:30 mix material at INR 15,700-15,800/MT.
8. BMM Ispat in South India has increased offers for FeM 80 P-DRI lumps by INR 200/MT to INR 16,200-16,300/MT ex-Bellary, Karnataka.
9. ILC Iron & Steel, a 350 TPD sponge manufacturer from Karnataka offered FeM 80 P-DRI lump at INR 16,300/MT ex-plant.
10. Imported scrap offers to India rise by USD 10-15/MT W-o-W, offers for HMS 1&2 (80:20) Dubai origin containers stood at USD 300/MT & Shredded scrap USA origins are at USD 325-330/MT, CFR Nhava Sheva.
Reference prices as on 12 October 2017
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 17,000 | 17,000 | 17,100 | + 50 | 17,300 | 17,350 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 15,800 | 15,700 | 15,800 | 0 | 15,800 | 17,200 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 16,500 | 16,400 | 16,600 | 0 | 16,400 | 18,100 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 16,350 | 16,300 | 16,400 | + 100 | 16,400 | 17,600 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 16,600 | 16,500 | 16,700 | 0 | 16,800 | 17,750 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 16,100 | 16,000 | 16,200 | + 100 | 16,400 | 16,350 |
| Ex-Rourkela | Lumps, FeM 78%, +/-1 | 14,300 | 14,200 | 14,500 | – 100 | 14,700 | 15,900 | |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 14,850 | 14,800 | 14,900 | – 150 | 15,000 | 16,800 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 16,200 | 16,100 | 16,300 | + 200 | 16,200 | 17,400 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 16,700 | 16,500 | 17,000 | 0 | 16,800 | 17,800 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 28,100 | 28,000 | 28,200 | – 150 | 27,700 | 28,450 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 25,800 | 25,700 | 25,900 | – 100 | 25,900 | 25,900 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 25,200 | 25,200 | 25,300 | – 100 | 25,200 | 25,400 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 25,300 | 25,200 | 25,300 | – 200 | 25,650 | 26,400 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 26,000 | 25,900 | 26,100 | 0 | 26,000 | 27,200 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 27,000 | 26,800 | 27,200 | 0 | 27,000 | 27,750 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 26,250 | 26,000 | 26,500 | + 250 | 26,500 | 27,500 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 28,500 | 28,400 | 28,600 | – 200 | 28,100 | 28,900 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 26,300 | 26,200 | 26,400 | – 50 | 26,400 | 26,300 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 25,500 | 25,400 | 25,600 | – 50 | 25,650 | 25,800 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 25,800 | 25,700 | 25,900 | – 200 | 26,250 | 26,800 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 26,200 | 26,200 | 26,300 | 0 | 26,200 | 27,400 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 27,500 | 27,400 | 27,600 | 0 | 27,500 | 28,000 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 26,250 | 26,000 | 26,500 | + 250 | 26,500 | 27,500 | |
| TMT | Ex-Delhi/NCR | 12MM | 32,500 | 32,400 | 32,600 | 0 | 31,700 | 31,500 |
| Ex-Durgapur | 12MM | 29,500 | 29,300 | 29,700 | 0 | 29,500 | 29,500 | |
| Ex-Raipur | 12MM | 28,600 | 28,400 | 28,800 | – 200 | 29,000 | 29,600 | |
| Ex-Mumbai | 12MM | 29,500 | 29,100 | 29,600 | + 100 | 29,400 | 30,900 | |
| Ex-Chennai | 12MM | 31,000 | 30,900 | 31,100 | 0 | 31,500 | 32,250 | |
| Ex-Hyderabad | 12MM | 28,900 | 28,800 | 29,000 | 0 | 29,500 | 30,500 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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