Indian Billet & Sponge offers remain slightly fluctuate today by INR 100-300/MT over thin trade activities and festive mood in the markets.
On 17 October, SteelMint’s price assessments for induction furnaces grade billet are reported at INR 25,300-27,500/MT (USD 389-423). Further the coal based sponge (78-80 FeM) C-DRI price reported at INR 15,600-16,700/MT (USD 240-257); prices are ex-plant & excluding GST.
Today (Tuesday, October 17, 2017) INR to USD exchange rate stood at INR 65.01
Key Updates
1. Odisha based merchant miner, Essel Mining has recently announced price cut of INR 100-200/MT for rest of Oct’17 deliveries.
2. India pellet export offers increased by USD 4-5/MT W-o-W & assessed at USD 112-114/MT, CFR China for end November shipment.
3. Jharsugda, Odisha based manufacturer – Bhushan Power & Steel offers steel grade pig iron at INR 23,500/MT ex-plant, according to the officials.
4. Raipur based Integrated plants have offered sponge P-DRI at INR 15,400-15,500/MT. According to trade participants the manufacturers have sold out good quantities at INR 15,300/MT.
5. The big manufacturers in Durgapur was unaltered their sponge offers for the day at INR 16,400/MT for P-DRI & INR 17,000-17,200/MT for C-DRI. Billet offers being heard by the producers at around INR 26,400/MT.
6. Odisha based medium size sponge manufacturers reported firm offers; FeM 80 C-DRI (70:30 mix material) at INR 15,700-15,800/MT ex-plant & excluding GST. According to officials, major deals for Patna, Bihar & Freight at INR 1,300-1,400/MT
7. Sunvik Steels in Karnataka has increased sponge prices by INR 300/MT; offering FeM 80 & 82 C-DRI are INR 17,000/MT and INR 17,400/MT. All prices are ex-works.
8. Indian domestic pig iron offers further fall by INR 200-500/MT (USD 3-8) on SteelMint’s price analysis.
9. The medium & small mills in Raipur, Central India have maintains offer firm for the day for Rebar & Structures.
10. According to market participants, domestic trade activities will remain silent for the week due to festive holidays mood in the market.
Reference prices as on 17 October 2017
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 17,200 | 17,100 | 17,300 | 0 | 17,050 | 17,600 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 15,800 | 15,700 | 15,900 | + 50 | 15,800 | 17,200 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 16,900 | 16,800 | 17,000 | + 100 | 16,500 | 18,000 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 16,400 | 16,400 | 16,500 | 0 | 16,300 | 17,250 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 16,700 | 16,600 | 16,700 | 0 | 16,700 | 17,600 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 16,400 | 16,300 | 16,500 | 0 | 16,150 | 16,700 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 15,400 | 15,300 | 15,500 | + 100 | 15,000 | 16,700 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 16,200 | 16,200 | 16,300 | + 50 | 16,100 | 16,800 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 16,700 | 16,600 | 16,800 | 0 | 16,700 | 17,600 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 28,350 | 28,300 | 28,400 | + 50 | 28,400 | 29,000 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 25,950 | 25,900 | 26,000 | – 50 | 25,850 | 26,300 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 25,200 | 25,200 | 25,300 | – 50 | 25,300 | 26,050 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 25,400 | 25,400 | 25,500 | – 100 | 25,550 | 26,800 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 26,250 | 26,200 | 26,300 | + 50 | 25,900 | 27,000 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 27,000 | 26,750 | 27,250 | 0 | 27,000 | 27,750 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 26,500 | 26,500 | 26,500 | 0 | 25,500 | 28,000 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 28,700 | 28,600 | 28,800 | 0 | 28,800 | 29,400 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 26,400 | 26,300 | 26,500 | 0 | 26,250 | 26,700 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 25,500 | 25,400 | 25,600 | – 50 | 25,550 | 26,250 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 25,900 | 25,800 | 26,000 | – 50 | 26,100 | 27,300 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 26,450 | 26,400 | 26,500 | + 50 | 26,100 | 27,200 | |
| 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 | 26,500 | 26,500 | 26,500 | 0 | 25,500 | 28,000 | |
| TMT | Ex-Delhi/NCR | 12MM | 32,800 | 32,700 | 32,900 | 0 | 32,500 | 32,500 |
| Ex-Durgapur | 12MM | 29,600 | 29,400 | 29,800 | 0 | 29,500 | 29,600 | |
| Ex-Raipur | 12MM | 28,900 | 28,700 | 29,100 | + 100 | 28,900 | 30,100 | |
| Ex-Mumbai | 12MM | 29,900 | 29,500 | 30,000 | + 200 | 29,100 | 30,700 | |
| Ex-Chennai | 12MM | 30,900 | 30,800 | 31,000 | – 100 | 31,000 | 32,000 | |
| Ex-Hyderabad | 12MM | 29,500 | 29,400 | 29,600 | 0 | 28,500 | 30,800 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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