Indian Semi-finished offers remain on rising mode over strong demand in finished products in few of the major markets. During the day Sponge iron offers increase by INR 100-300/MT & Billet upto INR 500/MT (USD 8).
SteelMint’s price assessments for induction furnaces billet size 125×125 mm are reported at INR 26,900-30,300/MT (USD 418-471) ex-plant. Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 17,400-19,500/MT (USD 270-303); prices are ex-plant & excluding GST.
Today (Tuesday, November 28, 2017) INR to USD exchange rate stood at INR 64.41 & BSE Sensex closed at 33,618 (-105).
Key Market Updates:
1. Rashtriya Ispat Nigam Limited (RINL), also known as Vizag Steel, has invited a tender for export of 5,504 MT billet (IS2830 grade) & 5,504 MT Wire rod coil to Nepal. The due data for tender is
2. According to sources in Durgapur, Rashmi Metaliks today has increased offers by INR 200-300/MT to INR 17,700/MT for FeM 78 P-DRI.
3. Raipur, Central India based Integrated plants offer unaltered, offering Sponge P-DRI at INR 18,100-18,200/MT ex-plant
4. Odisha based medium size sponge manufacturers reported firm offers; FeM 80 C-DRI (70:30 mix material) at INR 18,000/MT ex-plant & excluding GST. Further, C-DRI being offerred at the price range of INR 18,700-18,800/MT FoR Raigarh.
5. Singhal Steel offered P-DRI at INR 17,800/MT ex-plant (Raigarh), an official reported. Also added a day before, few deals of billet concluded for Raipur at 27,800-27,900/T FoR.
6. Monnet Ispat offered P-DRI sponge at INR 18,000/MT ex-plant, Raigarh. Also offered P-DRI from its Raipur based plant at INR 18,100-18,200/MT ex-plant; trade activities are firm at these offers.
7. ILC Iron & Steel, a 350 TPD sponge iron manufacturer from Karnataka offered FeM 80 mix material sponge at INR 17,200/MT ex-plant, an official reported
8. Odisha based Induction grade billet manufacturers have hold their fresh export deals due to better realization to deal in domestic market. The domestic billet prices have gone above the export realizations, which have made exporters to sit back. Billet offered locally at INR 27,000-27,300/MT ex-plant.
9. Steel grade Pig iron offers by Hyderabad based Manufacturer are reported at INR 25,000-25,500/MT FoR & excluding GST.
10. According to sources, integrated plants in Raipur have reduced trade discounts on Wires from earlier INR 1,000/MT to current at around INR 500/MT due to strong demand.
11. Healthy demand for light structures & rebars in Gujarat (Ahmedabad) have narrowed down price gap between Ingot & Billet from earlier INR 700-1,000/M to present at INR 200-400/MT.
Reference prices as on 28th November 2017
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 18,700 | 18,600 | 18,800 | + 250 | 17,800 | 18,000 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 18,000 | 17,900 | 18,100 | + 100 | 17,300 | 17,000 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 19,500 | 19,400 | 19,600 | – 100 | 18,500 | 18,200 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 17,400 | 17,300 | 17,500 | + 100 | 17,200 | 17,000 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 17,600 | 17,500 | 17,700 | + 100 | 17,500 | 17,600 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 17,700 | 17,600 | 17,800 | + 300 | 16,900 | 17,200 |
| Ex-Jharsugda | Lumps, FeM 78%, +/-1 | 17,200 | 17,200 | 17,300 | NA | NA | NA | |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 18,200 | 18,100 | 18,200 | 0 | 17,250 | 16,600 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 17,200 | 17,100 | 17,200 | 0 | 16,800 | 16,900 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 17,600 | 17,500 | 17,700 | + 50 | 17,500 | 17,500 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 30,600 | 30,500 | 30,700 | + 50 | 29,700 | 29,150 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 28,100 | 28,000 | 28,200 | + 250 | 27,250 | 27,000 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 26,600 | 26,500 | 26,600 | + 50 | 26,000 | 26,000 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 27,250 | 27,200 | 27,300 | + 100 | 26,400 | 26,500 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 29,300 | 29,200 | 29,400 | + 500 | 27,800 | 27,400 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 28,000 | 27,800 | 28,200 | 0 | 27,250 | 27,000 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 29,000 | 29,000 | 29,000 | 0 | 28,000 | 27,500 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 31,100 | 31,000 | 31,200 | + 100 | 30,200 | 29,600 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 28,500 | 28,500 | 28,600 | + 250 | 27,650 | 27,400 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 27,000 | 26,900 | 27,100 | + 100 | 26,300 | 26,400 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 27,800 | 27,800 | 28,000 | + 200 | 26,900 | 27,100 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 29,500 | 29,400 | 29,600 | + 500 | 28,000 | 27,700 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 28,500 | 28,300 | 28,700 | 0 | 27,900 | 27,500 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 29,000 | 29,000 | 29,000 | 0 | 28,000 | 27,500 | |
| TMT | Ex-Delhi/NCR | 12MM | 34,000 | 33,800 | 34,200 | 0 | 33,500 | 33,700 |
| Ex-Durgapur | 12MM | 31,300 | 31,100 | 31,500 | + 300 | 30,600 | 30,300 | |
| Ex-Raipur | 12MM | 30,700 | 30,500 | 30,900 | + 300 | 29,600 | 29,900 | |
| Ex-Mumbai | 12MM | 32,600 | 32,200 | 32,800 | + 500 | 31,500 | 31,000 | |
| Ex-Chennai | 12MM | 31,800 | 31,700 | 32,100 | 0 | 31,300 | 31,700 | |
| Ex-Hyderabad | 12MM | 32,000 | 31,800 | 32,000 | + 200 | 31,000 | 30,500 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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