Indian Semis offers witness further rise today by INR 100-300/MT across major markets.
The trade activities in the domestic market improved on price surge. In addition short supply of sponge iron and power cuts in few of the major Indian markets is also somehow supporting billet market.
As per SteelMint’s price analysis, offers for induction furnaces billet size 125×125 mm are reported at INR 26,400-28,900/MT (USD 405-412) ex-plant.
Further, the coal based sponge FeM 78-80 C-DRI price assessment was at INR 16,800-18,200/MT (USD 258-279) ex-plant.
Today (Wednesday, November 15, 2017) INR to USD exchange rate stood at INR 65.21 & BSE Sensex closed at 32,760 (-181).
Key Market Update
1. Today, JSPL had offered 50,000 MT Pellet for exports via online auction. The material is likely to be shipped towards the end of Nov’ or Dec’17.
2. Bhushan Steel’s Iron ore and pellet sourcing increased by 40% M-o-M to 0.51 MnT in Oct’17 against 0.36 MnT in Sept’17.
3. Neelachal Ispat (NINL), has open domestic offers for Foundry (N2) grade Pig iron at INR 24,500/MT ex-Cuttack, Odisha. The offers are valid till 22nd Nov 2017.
4. Bokaro based Electro Steels has offered steel grade Pig iron at INR 23,800/MT FOR Durgapur but the trade activities are weak, the officials reported.
5. Foundry grade Pig iron iron offers in West India heard at INR 27,000/MT (ex-works) and according to the traders in North India (Ludhiana) they have booked around 6-8 rakes.
6. Integrated plants in Raipur today kept unaltered P-DRI offers at INR 17,000/MT. According to the market participants, few deals have been concluded at INR 16,800-16,900/MT, ex-plant & excluding GST.
7. Maharashtra based Lloyd Metals offered Sponge P-DRI (FeM 80) for Nashik at INR 18,500/MT FoR & excluding GST, the officials reported.
8. Hare Krishna, a 300 TPD sponge manufacturer in Bellary, Karnataka has offered 80 FeM P-DRI at INR 16,500-16,700/MT ex-plant.
9. The supplier sources in Mandi Gobindgarh – Punjab reported billet offers at INR 30,200-30,400/MT FOR & excluding GST. Further, they said that billet supply from out side states were affected due to government restrictions in NCR regarding the transportation/logistics and Industry operations.
10. Raipur based manufacturers quoted offers for 100*100/125*125 mm induction grade billet at INR 27,100-27,300/MT which was at around INR 27,000/MT on 14 Nov, ex-plant & excluding GST. Similarly in Durgapur where the producers reported increase in offers by INR 300/MT with current offers for billet at INR 27,600-27,700/MT.
11. The standalone billet manufacturers in Hyderabad, South India reported improve demand for billet at INR 28,000/MT which was traded a day before at INR 27,500-27,750/MT ex-plant & excluding GST.
12. According to the officials of Rudra Steels in Gujarat, recent a 10,000 MT billet export deal concluded to Middle East (KSA) at USD 475/MT CFR.
Reference prices as on 15th November 2017
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 18,000 | 18,000 | 18,100 | + 100 | 18,100 | 17,200 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 17,200 | 17,100 | 17,200 | + 100 | 17,200 | 15,900 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 18,200 | 18,100 | 18,300 | + 100 | 17,700 | 16,900 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 16,800 | 16,700 | 16,900 | 0 | 16,800 | 16,450 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 17,100 | 17,000 | 17,200 | 0 | 17,400 | 16,700 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 17,100 | 17,100 | 17,200 | 0 | 17,300 | 16,400 |
| Ex-Jharsugda | Lumps, FeM 78%, +/-1 | 16,000 | 15,800 | 16,200 | + 100 | 15,900 | NA | |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 16,950 | 16,900 | 17,000 | + 50 | 16,300 | 15,400 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 16,600 | 16,500 | 16,700 | + 100 | 16,500 | 16,250 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 17,100 | 17,000 | 17,200 | 0 | 17,400 | 16,700 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 29,750 | 29,700 | 29,800 | + 250 | 29,700 | 28,350 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 27,300 | 27,200 | 27,400 | + 300 | 27,000 | 26,000 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 26,000 | 25,900 | 26,100 | + 200 | 26,000 | 25,200 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 26,550 | 26,500 | 26,600 | + 50 | 26,100 | 25,450 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 27,400 | 27,300 | 27,500 | + 100 | 26,500 | 26,350 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 27,000 | 26,750 | 27,250 | 0 | 27,000 | 27,000 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 28,000 | 28,000 | 28,000 | + 250 | 27,500 | 26,750 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 30,200 | 30,200 | 30,300 | + 200 | 30,200 | 28,800 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 27,600 | 27,500 | 27,700 | + 300 | 27,450 | 26,400 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 26,400 | 26,300 | 26,500 | + 300 | 26,300 | 25,500 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 27,150 | 27,100 | 27,200 | + 150 | 26,600 | 25,950 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 27,600 | 27,600 | 27,700 | + 50 | 26,700 | 26,550 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 27,500 | 27,250 | 27,750 | 0 | 27,500 | 27,500 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 28,000 | 28,000 | 28,000 | + 250 | 27,500 | 26,750 | |
| TMT | Ex-Delhi/NCR | 12MM | 33,800 | 33,600 | 34,000 | + 200 | 33,000 | 32,600 |
| Ex-Durgapur | 12MM | 30,700 | 30,500 | 30,900 | + 100 | 30,700 | 29,600 | |
| Ex-Raipur | 12MM | 29,800 | 29,600 | 30,000 | + 100 | 29,500 | 28,900 | |
| Ex-Mumbai | 12MM | 30,900 | 30,500 | 31,000 | + 100 | 30,100 | 29,900 | |
| Ex-Chennai | 12MM | 31,000 | 30,800 | 31,500 | 0 | 31,300 | 30,900 | |
| Ex-Hyderabad | 12MM | 30,850 | 30,700 | 31,000 | + 350 | 30,500 | 29,750 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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