Indian billet prices almost remained firm on 10 July amid thin trade activities in start of the week as buyers as well as sellers are waiting for clearer direction for the market.
Sponge prices are also observed stability in across major markets except in Central region – Raipur where the prices surge by INR 200-300/MT on daily analysis owing to low supply from Odisha. As Central region procure large quantity from the Odisha – East India.
On 10 July, SteelMint’s price assessments for induction furnaces billet size 125×125 mm are reported at INR 24,900-27,500/MT (USD 383-423) ex-plant.
Further the coal based sponge C-DRI price assessment was at INR 15,000-16,700/MT (USD 230-257) ex-plant.
Indian sponge & billet reference prices as on 10 July 2017
| Particular | C-DRI | D-o-D | W-o-W | Billet | D-o-D | W-o-W |
| Ex-Raipur | 16,800 | 300 | – 100 | 25,900 | 100 | – 500 |
| Ex-Durgapur | 15,300 | 0 | 500 | 25,500 | – 50 | – 400 |
| Ex-Rourkela | 15,000 | 0 | – 500 | 24,900 | 0 | – 600 |
| Ex-Bellary | 16,200 | 0 | 300 | 26,800 | 0 | 0 |
| Ex-Mumbai | – | – | – | 27,400 | 100 | 0 |
| Ex-Ahmedabad | – | – | – | 27,500 | 0 | – 250 |
Basic, ex-works prices & excluding of GST @ 18%
Source: SteelMint Research
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