Indian Semi-finished steel offers today decline further due to weak trade sentiments, Sponge iron by INR 100-200/MT & Billet upto INR 500/MT (USD 8), D-o-D.
During the day, major price fall in billet reported in South India – Hyderabad by INR 500/MT followed by Mumbai INR 400/MT & Raipur and Durgapur by INR 200/MT.
SteelMint’s price assessments for induction furnaces billet size 125×125 mm are reported at INR 26,300-28,900/MT (USD 405-445) ex-plant.
Further the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 17,200-18,500/MT (USD 265-285); prices are ex-plant & excluding GST.
Today (Tuesday, November 21, 2017) INR to USD exchange rate stood at INR 64.90 & BSE Sensex closed at 33,478 (+118).
Key Market Updates:
1. Iron ore dispatches from Odisha may come under pressure if supplies get interrupted from Serajuddin Mines. As per market sources report, EC renewal of Serajuddin Mines’ lease is due and it is to expire on 02 Dec’17.
2. Central India (Raipur) based pellet manufacturers have raised offers for Fe 63% pellets by INR 150/MT W-o-W, and are assessed at INR 5,500-5,600/MT (ex-plant).
3. According to the data maintained by CoalMint Research, imported non-coking coal stock has reached a level of 11.23 MnT at Indian ports during week 46, The latest offers for Indian buyers are assessed at USD 73-74/MT, CFR for 5000 GAR coal &. 4200 GAR coal at USD 53-54/MT, CFR.
4. Vizag Steel concludes 30,000 MT billet export tender at around USD 450-452/MT, FoB India.
5. Central India based manufacturers kept sponge offers unaltered. Offering Sponge P-DRI & DR-CLO at INR 17,200-17300/MT & INR 19,200-19,300/MT ex-plant, basic price & excluding GST at 18%.
6. Singhal Steel offered P-DRI at INR 16,700/MT ex-plant (Raigarh), an official reported. Also added, a day before few deals of billet concluded for Raipur at INR 27,200/MT FoR.
7. BMM Ispat in South India has kept offers unaltered, offering FeM 80 P-DRI lumps at INR 16,900-17,000/MT ex-Bellary, Karnataka.
8. Hare Krishna, a 300 TPD sponge manufacturer in Bellary, Karnataka has offered 80 FeM P-DRI at INR 16,600-16,800/MT ex-plant.
9. According to the officials of Shyam Metaliks, Jharsugda (Odisha) recent a small deal for billet exports concluded to Nepal at around USD 418/MT (ex-plant). The company is also offering billet for domestic buyers at INR 26,200/MT ex-plant.
10. Melting scrap offers in Western India – Maharashtra & Gujarat reduced by INR 200-400/MT on daily basis.
Reference prices as on 21st November 2017
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 17,800 | 17,700 | 17,800 | – 150 | 17,900 | 17,000 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 17,300 | 17,200 | 17,400 | – 100 | 17,100 | 16,000 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 18,500 | 18,300 | 18,500 | – 100 | 18,100 | 17,000 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 17,200 | 17,100 | 17,300 | – 100 | 16,800 | 16,900 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 17,500 | 17,500 | 17,600 | 0 | 17,100 | 17,100 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 16,900 | 16,800 | 17,000 | – 200 | 17,100 | 16,300 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 17,250 | 17,200 | 17,300 | – 100 | 16,900 | 15,650 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 16,800 | 16,700 | 16,900 | – 200 | 16,500 | 16,700 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 17,500 | 17,500 | 17,600 | 0 | 17,100 | 17,100 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 29,700 | 29,700 | 29,750 | – 50 | 29,500 | 28,450 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 27,250 | 27,200 | 27,300 | – 200 | 27,000 | 26,000 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 26,000 | 25,900 | 26,000 | – 100 | 25,800 | 25,100 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 26,400 | 26,300 | 26,450 | – 150 | 26,500 | 25,550 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 27,800 | 27,700 | 27,900 | – 400 | 27,300 | 26,300 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 27,250 | 27,000 | 27,500 | 0 | 27,000 | 27,250 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 28,000 | 28,000 | 28,000 | – 500 | 27,750 | 27,100 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 30,200 | 30,100 | 30,200 | 0 | 30,000 | 28,700 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 27,650 | 27,600 | 27,700 | – 150 | 27,300 | 26,400 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 26,300 | 26,200 | 26,400 | – 100 | 26,100 | 25,450 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 26,900 | 26,800 | 27,000 | – 200 | 27,000 | 26,100 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 28,000 | 27,900 | 28,000 | – 400 | 27,550 | 26,600 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 27,900 | 27,700 | 28,000 | 0 | 27,500 | 27,750 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 28,000 | 27,800 | 28,200 | – 500 | 27,750 | 27,100 | |
| TMT | Ex-Delhi/NCR | 12MM | 33,500 | 33,300 | 33,700 | 0 | 33,600 | 32,500 |
| Ex-Durgapur | 12MM | 30,600 | 30,400 | 30,800 | – 200 | 30,600 | 29,500 | |
| Ex-Raipur | 12MM | 29,600 | 29,400 | 29,800 | – 400 | 29,700 | 28,800 | |
| Ex-Mumbai | 12MM | 31,500 | 31,100 | 31,600 | – 300 | 30,800 | 29,900 | |
| Ex-Chennai | 12MM | 31,300 | 31,100 | 31,600 | 0 | 31,000 | 31,500 | |
| Ex-Hyderabad | 12MM | 31,000 | 30,800 | 31,100 | – 400 | 30,500 | 30,000 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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