Indian billet & sponge prices fluctuate by INR 100/MT on daily basis on thin trade activities as buyers as well as sellers are waiting for the clarity in market.
Sponge prices observed stability across major markets. However, billet offers specifically in Maharashtra, Mumbai increased sharply by INR 700/MT due to low supply from Silwasa. Silwasa is the bulk supplier of billet to Maharashtra & Gujarat based re-rellors, due to halt in supplies since yesterday prices surged, according to the trade participants.
SteelMint’s price assessments for induction furnaces billet size 125×125 mm are reported at INR 24,700-27,100/MT (USD 382-420) ex-plant.
Further the coal based sponge C-DRI price assessment was at INR 15,300-16,700/MT (USD 237-259) ex-plant.
Indian sponge & billet reference prices as on 19 July 2017
| Particular/Delivery | C-DRI | D-o-D | W-o-W | Billet | D-o-D | W-o-W |
| Ex-Raipur | 16,700 | 0 | +200 | 25,700 | 0 | 0 |
| Ex-Durgapur | 15,800 | 0 | +550 | 25,500 | -100 | +500 |
| Ex-Rourkela | 15,350 | +100 | +350 | 24,700 | +100 | +200 |
| Ex-Bellary | 15,800 | +100 | -100 | 26,500 | +100 | 0 |
| Ex-Ahmedabad | – | – | – | 27,100 | +100 | 0 |
| Ex-Mumbai | – | – | – | 26,700 | +850 | -300 |
Basic, ex-works prices & excluding of GST @ 18%
Source: SteelMint Research
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