Domestic Semi-finished offers rise further on strong demand and rise in Finished steel prices, Sponge iron offers increase by INR 100-500/MT & Billet upto INR 600/MT, D-o-D.
SteelMint’s price assessments for induction furnaces billet size 125×125 mm are reported at INR 28,000-31,200/MT (USD 434-484) ex-plant.
Further the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 17,900-20,100/MT (USD 277-312); prices are ex-plant & excluding GST.
Today (Friday, December 1, 2017) INR to USD exchange rate stood at INR 64.50 & BSE Sensex closed at 32,832 (-316).
Key Market Updates:
1. Odisha Mining Corporation (OMC), a state-owned miner has scheduled its next e-auction on 6 Dec’17 for 430,000 MT iron ore & keeps floor price unchanged.
2. Imported scrap offers to India moved up by USD 5/MT to USD 345/MT, CFR Nhava Sheva from UK origin, on weekly basis amid limited availability owing to winters.
3. Indian Sponge iron exports offers of FeM 80-82 lumps grade to Bangladesh increase to USD 330/MT, CPT Benapole (land port of India & Bangladesh).
4. Raipur, Central India based Integrated plants offers increased by INR 400/MT D-o-D, offering Sponge P-DRI at INR 18,800-19,000/MT ex-plant
5. Singhal Steel offered P-DRI at INR 18,200/MT ex-plant (Raigarh), an official reported. Also added a day before, few deals of billet concluded for Raipur at 28,400-28,500/T FoR.
6. BMM Ispat in South India (Karnataka) has increased offers for FeM 80 P-DRI by INR 200-300/MT to INR 17,500/MT ex-Bellary, an official reported.
7. India Billet prices at 8- months high. Mumbai billet offers at INR 30,800/MT (USD 477) Manufacturers hold export offers
8. Indian large steel producers have raised prices of long steel (Re-bar, Wire Rod & Structures) by Rs 500-1,000 (USD 8-16) a tonne for December, according to market sources.
9. Gujarat based Akshar TMT have increased rebar offers by INR 500/MT D-o-D. The fresh offers are reported at INR 40,500/MT FOR & including GST at 18%, Size – 20 mm.
10. Kalika Steel Alloys in Jalna has increased rebar prices by INR 500/MT to INR 31,000/MT. The prices are ex-work, 28 mm & excluding GST.
Reference prices as on 1st December 2017
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 19,200 | 19,100 | 19,300 | + 200 | 18,200 | 18,200 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 18,600 | 18,500 | 18,700 | + 200 | 17,500 | 17,200 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 20,100 | 20,000 | 20,200 | + 500 | 18,800 | 18,200 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 17,900 | 17,800 | 18,000 | + 100 | 16,900 | 17,400 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 18,200 | 18,100 | 18,200 | + 100 | 17,300 | 17,800 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 18,200 | 18,100 | 18,300 | + 200 | 17,100 | 17,300 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 18,900 | 18,800 | 19,000 | + 400 | 17,700 | 16,700 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 17,500 | 17,400 | 17,600 | + 100 | 16,600 | 17,100 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 18,200 | 18,100 | 18,300 | + 100 | 17,300 | 17,600 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 31,100 | 31,100 | 31,150 | 0 | 30,200 | 29,900 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 28,800 | 28,700 | 28,900 | + 200 | 27,600 | 27,050 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 27,500 | 27,400 | 27,600 | + 400 | 26,200 | 26,300 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 28,000 | 27,900 | 28,000 | + 400 | 26,750 | 26,500 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 30,500 | 30,400 | 30,600 | + 600 | 28,600 | 27,100 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 28,500 | 28,400 | 28,600 | 0 | 27,900 | 27,250 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 30,250 | 30,000 | 30,500 | + 500 | 28,000 | 28,000 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 31,600 | 31,500 | 31,700 | 0 | 30,650 | 30,300 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 29,200 | 29,100 | 29,300 | + 200 | 28,000 | 27,450 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 28,000 | 28,000 | 28,200 | + 500 | 26,550 | 26,600 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 28,600 | 28,500 | 28,700 | + 300 | 27,250 | 27,000 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 30,700 | 30,600 | 30,800 | + 600 | 28,900 | 27,500 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 29,000 | 28,900 | 29,100 | 0 | 28,400 | 27,750 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 30,250 | 30,000 | 30,500 | + 500 | 28,000 | 28,000 | |
| TMT | Ex-Delhi/NCR | 12MM | 34,500 | 34,500 | 34,900 | + 500 | 33,500 | 33,500 |
| Ex-Durgapur | 12MM | 31,700 | 31,500 | 31,900 | + 200 | 30,800 | 30,500 | |
| Ex-Raipur | 12MM | 31,700 | 31,500 | 31,900 | + 800 | 30,200 | 29,800 | |
| Ex-Mumbai | 12MM | 33,700 | 33,300 | 33,800 | + 600 | 31,900 | 30,700 | |
| Ex-Chennai | 12MM | 32,700 | 32,500 | 33,000 | + 100 | 31,800 | 31,500 | |
| Ex-Hyderabad | 12MM | 33,200 | 33,100 | 33,300 | + 450 | 31,000 | 30,800 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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