Indian sponge & billet producers further strengthen their offers on surge inquiries.
On daily analysis, Indian domestic sponge prices increase by INR 50-150/MT (USD 1-3) & Billet offers also rise by INR 100-400/MT (USD 1-7). Further, since the week opening the offers moved up – Sponge by INR 300-1,000/MT & Billet by INR 500-1,000/MT.
On 22nd July, SteelMint’s price assessments for induction furnaces billet size 125×125 mm are reported at INR 25,000-27,900/MT (USD 387-432) and coal based sponge C-DRI price was at INR 15,400-16,800/MT (USD 238-260). All prices are ex-plant & excluding of GST at 18%.
Indian sponge & billet reference prices as on 22 July 2017
| Particular/Delivery | C-DRI | D-o-D | W-o-W | Billet | D-o-D | W-o-W |
| Ex-Raipur | 16,800 | -100 | +300 | 25,900 | 0 | +500 |
| Ex-Durgapur | 16,350 | +100 | +1,000 | 25,800 | +150 | +800 |
| Ex-Rourkela | 15,400 | +50 | +300 | 25,000 | 0 | +650 |
| Ex-Bellary | 16,100 | 0 | +400 | 26,700 | 0 | +500 |
| Ex-Ahmedabad | – | – | – | 27,850 | +300 | +1,050 |
| Ex-Mumbai | – | – | – | 26,700 | +400 | +100 |
Basic, ex-works prices & excluding of GST @ 18%
Source: SteelMint Research
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