Indian domestic billet prices increase by INR 200-500/MT (USD 3-8) on 21st July, Friday on improved domestic & export trade activities, according to the trade participants. Following the trend, Sponge producers also raise their offers by INR 50-200/MT against last day.
As per SteelMint’s price analysis, offers for induction furnaces billet size 125×125 mm are reported at INR 25,000-27,550/MT (USD 387-427) ex-plant. Further, the coal based sponge C-DRI price assessment was at INR 15,300-16,900/MT (USD 237-262) ex-plant.
Coming to weekly price movement, the sponge offers increased by INR 300-1,200/MT (USD 4-18), while billet offers gain by INR 500-1,000/MT (USD 7-15).
Indian sponge & billet reference prices as on 21 July 2017
| Particular/Delivery | C-DRI | D-o-D | W-o-W | Billet | D-o-D | W-o-W |
| Ex-Raipur | 16,900 | +100 | +400 | 25,900 | +300 | +500 |
| Ex-Durgapur | 16,250 | +150 | +1,200 | 25,650 | +150 | +950 |
| Ex-Rourkela | 15,350 | +50 | +350 | 25,000 | +400 | +700 |
| Ex-Bellary | 16,100 | +100 | +300 | 26,700 | +200 | +200 |
| Ex-Ahmedabad | – | – | – | 27,550 | +350 | +750 |
| Ex-Mumbai | – | – | – | 26,300 | -350 | -400 |
Basic, ex-works prices & excluding of GST @ 18%
Source: SteelMint Research
Leave a Reply