Indian billet and sponge prices fluctuates by INR 100-300/MT on daily analysis also the trade sentiments showed mix trends as per the industry participants.
On 24th Oct, SteelMint’s price assessments for induction furnaces billet size 125×125 mm are reported at INR 25,400-27,800/MT (USD 390-426) ex-plant. Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 16,000-17,100/MT (USD 245-262); prices are ex-plant & excluding GST.
Today (Tuesday, October 24, 2017) INR to USD exchange rate stood at INR 65.19 & BSE Sensex closed at 32,607 (+100).
Trade Updates:
1. NMDC’s Iron ore movement from Chhattisgarh up by 10% M-o-M in Sept’17 to 1.48 MnT compared to 1.35 MnT in Aug’17.
2. NMDC had put 56,000 MT iron ore for auction for non MoU customers which ended on 23 Oct’17. And fetched premium of around INR 300/MT for lumps ore, where as fines went unsold.
3. According to trade participants, SAIL’s DSP (Durgapur Steel Plant) has sold out about 1,000 MT steel grade pig iron for Howrah at around INR 21,800/MT ex-plant.
4. Central India based Integrated plants have reduced Sponge P-DRI offers by INR 100-200/MT to INR 15,600-15,700/MT. Sponge DR-CLO grade offers also lowered by INR 200/MT to INR 17,700/MT. Both prices are ex-plant & excluding GST.
5. Durgapur based big manufacturers kept sponge offers unchanged; offering FeM 78 P-DRI at INR 16,300-16,400/MT, excluding GST.
6. Jharsugda, Odisha based manufacturer namely- Bhushan Power & Steel has offer Sponge P-DRI at INR 15,000/MT ex-plant. While, Shyam Metaliks offer P-DRI heard at around INR 15,100/MT ex-plant.
7. A day before, Singhal Steel based in Raigarh sold P-DRI at INR 15,600/MT & Billet at INR 26,000/MT FoR Raipur, an official reported.
8. Indian billet export price assessment has come down by USD 10-15/MT this week after a bulk export deal (about 45,000 Billets) was concluded by Vizag Steel.
9. Sunvik Steels in Karnataka has kept sponge prices unaltered; offering FeM 80 & 82 C-DRI are INR 17,400/MT and INR 17,800/MT. Also offering 8mm TMT at INR 40,800/MT ( incl. of 18% GST). All prices are ex-works.
10. Today, Rebar & Structure prices in major markets of India was almost remained firm with average trade activities.
Reference prices as on 24th October 2017
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 17,000 | 16,900 | 17,100 | 0 | 17,200 | NA |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 16,000 | 16,000 | 16,100 | 0 | 15,800 | 16,200 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 17,000 | 16,900 | 17,100 | – 100 | 16,900 | 17,200 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 16,900 | 16,800 | 17,100 | + 100 | 16,400 | 16,500 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 17,100 | 17,000 | 17,200 | + 100 | 16,700 | 17,200 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 16,300 | 16,200 | 16,400 | 0 | 16,400 | NA |
| Ex-Rourkela | Lumps, FeM 78%, +/-1 | 15,000 | 15,000 | 15,100 | NA | NA | NA | |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 15,650 | 15,600 | 15,700 | – 150 | 15,400 | 15,700 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 16,700 | 16,600 | 16,800 | + 100 | 16,200 | 16,300 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 17,100 | 17,000 | 17,200 | + 100 | 16,700 | 17,000 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 28,450 | 28,400 | 28,500 | + 300 | 28,350 | 28,300 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 26,000 | 25,900 | 26,100 | 0 | 25,950 | NA | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 25,100 | 25,000 | 25,100 | 0 | 25,200 | 25,400 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 25,550 | 25,500 | 25,600 | + 50 | 25,400 | 26,100 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 26,300 | 26,200 | 26,400 | 0 | 26,250 | 26,600 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 27,250 | 27,000 | 27,500 | 0 | 27,000 | 27,000 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 27,100 | 27,000 | 27,200 | 0 | 26,500 | 26,500 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 28,700 | 28,600 | 28,800 | + 200 | 28,700 | 28,800 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 26,400 | 26,300 | 26,500 | 0 | 26,400 | NA | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 25,450 | 25,400 | 25,500 | – 50 | 25,500 | 25,800 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 26,100 | 26,100 | 26,200 | 0 | 25,900 | 26,600 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 26,600 | 26,500 | 26,700 | + 100 | 26,450 | 26,800 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 27,750 | 27,500 | 28,000 | 0 | 27,500 | 27,500 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 27,100 | 27,000 | 27,200 | 0 | 26,500 | 26,500 | |
| TMT | Ex-Delhi/NCR | 12MM | 32,500 | 32,300 | 32,700 | 0 | 32,800 | 32,100 |
| Ex-Durgapur | 12MM | 29,500 | 29,300 | 29,700 | 0 | 29,600 | NA | |
| Ex-Raipur | 12MM | 28,800 | 28,600 | 29,000 | 0 | 28,900 | 29,300 | |
| Ex-Mumbai | 12MM | 29,900 | 29,500 | 30,000 | 0 | 29,900 | 30,300 | |
| Ex-Chennai | 12MM | 31,500 | 31,000 | 32,000 | 0 | 30,900 | 31,500 | |
| Ex-Hyderabad | 12MM | 30,000 | 29,900 | 30,100 | – 100 | 29,500 | 29,250 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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