Domestic Semi-finished offers rise further on strong demand and rise in raw material prices, Sponge iron offers increase by INR 200-400/MT & Billet by INR 200-750/MT, D-o-D.
Today, SteelMint’s price assessments for induction furnaces billet size 125×125 mm are reported at INR 27,500-30,500/MT (USD 426-473) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 17,800-19,600/MT (USD 276-304); prices are ex-plant & excluding GST.
Today (Thursday, November 30, 2017) INR to USD exchange rate stood at INR 64.47 & BSE Sensex closed at 33,149 (-453).
Key Market Updates:
1. Mahanadi Coalfields Ltd (MCL) had decided to cut down coal supplies to the Non-power sector for the third successive month in Dec’17, in order to augment coal supply to the power stations.
2. Sponge iron prices in Raipur rise further to hit 3 years high owing to recent hike in iron ore prices by some major miners.
3. Raipur, Central India based Integrated plants have increase offers by INR 300/MT D-o-D, offering Sponge P-DRI at INR 18,400-18,600/MT ex-plant. Sponge DR-CLO grade offers also up by INR 200-300/MT to INR 20,100-20,300/MT. Both prices ex-plant & excluding GST.
4. In West Bengal – Durgapur, big manufacturers have increased sponge offers by INR 200/MT D-o-D; P-DRI at INR 18,000/MT & C-DRI at INR 19,000/MT ex-plant
5. Odisha based medium size sponge manufacturers reported increase offers by INR 300-400/MT; FeM 80 C-DRI (70:30 mix material) at INR 18,400-18,500/MT ex-plant & excluding GST.
6. BMM Ispat in South India has kept offers unaltered, offering FeM 80 P-DRI lumps at INR 17,100-17,300/MT ex-Bellary, Karnataka.
7. ILC Iron & Steel, a 350 TPD sponge iron manufacturer from Karnataka offered FeM 80 mix material sponge at INR 17,400-17,500/MT ex-plant, an official reported
8. Hyderabad based furnace owners increased Billet prices by INR 700-800/MT to INR 29,500-30,000/MT. Manufacturers reported healthy deals at INR 29,500/MT; ex-plant & excluding GST
9. Melting scrap offers in Western India- Maharashtra & Gujarat rise by INR 500-1,000/MT (W-o-W) owing to rise in Sponge & billet prices.
10. Indian pig iron prices find support on rising raw material and steel prices globally. Some manufacturers in East India have raised offers by INR 500/MT (USD 8).
11. Medium mills across India today raise rebar prices by INR 200-500/MT on strong demand and hike in billet offers. Light structure offers also increased marginally by INR 100-200/MT in Raipur & Mumbai.
Reference prices as on 30th November 2017
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 19,000 | 18,900 | 19,100 | + 200 | 18,100 | 18,200 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 18,400 | 18,300 | 18,500 | + 300 | 17,500 | 17,100 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 19,600 | 19,500 | 19,700 | + 100 | 18,500 | 18,100 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 17,800 | 17,700 | 17,900 | + 300 | 16,900 | 17,300 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 18,100 | 18,000 | 18,200 | + 400 | 17,300 | 17,700 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 18,000 | 17,900 | 18,100 | + 200 | 17,000 | 17,400 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 18,500 | 18,400 | 18,600 | + 300 | 17,350 | 16,700 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 17,400 | 17,300 | 17,500 | + 200 | 16,600 | 17,100 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 18,100 | 18,000 | 18,200 | + 400 | 17,300 | 17,600 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 31,100 | 31,000 | 31,200 | + 600 | 30,100 | 29,500 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 28,600 | 28,500 | 28,700 | + 300 | 27,500 | 27,000 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 27,100 | 27,000 | 27,100 | + 500 | 26,100 | 26,100 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 27,600 | 27,500 | 27,700 | + 400 | 26,550 | 26,450 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 29,900 | 29,800 | 30,000 | + 300 | 28,400 | 27,250 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 28,500 | 28,400 | 28,600 | 0 | 27,700 | 27,250 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 29,750 | 29,500 | 30,000 | + 750 | 28,000 | 28,000 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 31,600 | 31,500 | 31,700 | + 600 | 30,550 | 30,000 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 29,000 | 29,000 | 29,200 | + 300 | 27,800 | 27,400 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 27,500 | 27,400 | 27,600 | + 400 | 26,500 | 26,500 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 28,300 | 28,200 | 28,400 | + 450 | 27,000 | 27,000 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 30,100 | 30,000 | 30,200 | + 300 | 28,600 | 27,600 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 29,000 | 28,900 | 29,100 | 0 | 28,200 | 27,750 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 29,750 | 29,500 | 30,000 | + 750 | 28,000 | 28,000 | |
| TMT | Ex-Delhi/NCR | 12MM | 34,000 | 33,800 | 34,200 | 0 | 33,300 | 33,200 |
| Ex-Durgapur | 12MM | 31,500 | 31,300 | 31,800 | + 200 | 30,600 | 30,500 | |
| Ex-Raipur | 12MM | 30,900 | 30,700 | 31,100 | + 200 | 29,800 | 29,800 | |
| Ex-Mumbai | 12MM | 33,100 | 32,700 | 33,200 | + 200 | 31,600 | 31,000 | |
| Ex-Chennai | 12MM | 32,600 | 32,400 | 33,000 | + 300 | 31,700 | 31,700 | |
| Ex-Hyderabad | 12MM | 32,750 | 32,500 | 33,000 | + 750 | 31,000 | 30,800 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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