Indian Semi-finished offers rise further on daily basis, Sponge iron by INR 200-400/MT & Billet by INR 200-500/MT. The domestic trade activities continue to remain strong with increase prices, the market participants stated.
SteelMint’s price assessments for induction furnaces billet size 125×125 mm are reported at INR 28,900-32,700/MT (USD 449-508) ex-plant. Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 18,700-20,400/MT (USD 290-317); prices are ex-plant & excluding GST.
Today (Thursday, December 14, 2017) INR to USD exchange rate stood at INR 64.37 & BSE Sensex closed at 33,246 (+193).
Key Market Updates:
1. The Honorable Supreme court raises Iron Ore mining Cap for category A and B mines in Karnataka to 35 MnT from earlier at 30 MnT.
2. JSW Steel (Dolvi) procured 7 rakes from NMDC Chhattisgarh mines in Nov’17 against 17 rakes in Oct’17 down by 59% M-o-M.
3. Tata Metaliks, India’s one of the largest foundry grade pig iron manufacturer has raised its prices by INR 800/MT (USD 13) to INR 29,000/MT ex-plant, Kharagapur, East India.
4. Central India based Integrated plants have increased Sponge P-DRI offers by INR 100/MT to INR 19,300-19,400/MT. Sponge DR-CLO grade offers also up by INR 200/MT to INR 21,100-21,300/MT. Both prices ex-plant & excluding GST.
5. Odisha based Induction grade billet manufacturers have hold their fresh export deals due to better realization to deal in domestic market. The domestic trades are reported at around INR 28,800-28,900/MT (USD 443-445) ex-plant, while export buying interest from Nepal seen at USD 450/MT ex-plant.
6. BIOP Steels in South India has raise sponge offers by INR 200/MT, offering FeM 80 & 82 C-DRI lumps at INR 18,900/MT & 19,200/MT ex-plant, Karnataka. An official added, around 2,500-3,000 MT of material sold to Jalna (Maharashtra) market in last two days.
7. Jharsugda based Shyam Metaliks sold 400-500 MT billet to Mumbai (Maharashtra) at INR 28,800/MT ex-plant. Freight to Mumbai (Maharashtra) at INR 2,400/MT.
8. Indian Silico Manganese prices have touched a 5-year high on rebounding demand coupled with limited supply.
9. According to purchase sources, there is limited availability of Pig iron with Neelachal Ispat (NINL), thus the company is booking small quantities on recent increase price at INR 24,000-24,200/MT (ex-plant).
10. Vedanta Resouces also known as Sesa Goa Ltd has offers foundry grade Pig iron at INR 28,500-29,000/MT ex-plant & INR 31,000/MT FoR Ludhiana, excluding GST. According to the officials the offers increase about INR 1,500/MT (USD 23) since start of Dec’17.
11. Western India – Gujarat based an manufacturer has concluded billet export deal to Columbia at around USD 500/MT FoB India.
12. Central India-Raipur based Integrated plants have reduced trade discounts on Wire rod to INR 600-800/MT against week at INR 1,000/MT. Meanwhile, basic prices for Wire rod also increase by them by INR 400/MT to INR 34,600-34,800/MT (ex-plant) following good demand & rise in billet prices.
Reference prices as on 14th December 2017
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 19,800 | 19,700 | 19,900 | + 200 | 19,300 | 18,000 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 19,200 | 19,100 | 19,200 | + 200 | 18,500 | 17,200 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 20,400 | 20,300 | 20,500 | + 200 | 19,300 | 18,300 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 18,700 | 18,600 | 18,800 | + 300 | 17,800 | 16,900 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 18,800 | 18,700 | 18,900 | + 200 | 18,300 | 17,100 |
| Ex-Jharsugda | Lumps, FeM 78%, +/-1 | 18,200 | 18,100 | 18,300 | + 100 | 17,400 | 16,200 | |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 19,350 | 19,300 | 19,400 | + 50 | 18,200 | 17,100 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 18,000 | 18,000 | 18,100 | + 200 | 17,400 | 16,600 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 18,600 | 18,500 | 18,700 | + 400 | 18,000 | 17,200 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 31,600 | 31,600 | 31,700 | + 300 | 30,900 | 29,850 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 29,300 | 29,200 | 29,400 | + 200 | 28,600 | 27,400 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 27,950 | 27,900 | 28,000 | + 250 | 27,050 | 26,000 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 28,900 | 28,800 | 29,000 | + 300 | 27,200 | 26,700 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 31,500 | 31,400 | 31,500 | – 100 | 30,100 | 27,750 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 31,000 | 30,800 | 31,200 | + 500 | 29,500 | 27,000 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 31,500 | 31,500 | 31,700 | + 500 | 29,500 | 28,000 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 32,100 | 32,000 | 32,200 | + 300 | 31,400 | 30,400 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 29,600 | 29,500 | 29,700 | + 250 | 29,000 | 27,650 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 28,900 | 28,800 | 29,000 | + 400 | 27,600 | 26,400 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 29,900 | 29,800 | 30,000 | + 400 | 28,200 | 27,250 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 31,800 | 31,700 | 31,800 | 0 | 30,300 | 27,950 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 31,500 | 31,300 | 31,500 | + 500 | 30,000 | 27,500 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 31,500 | 31,500 | 31,700 | + 500 | 29,500 | 28,000 | |
| TMT | Ex-Delhi/NCR | 12MM | 35,000 | 34,800 | 35,200 | + 500 | 34,200 | 33,800 |
| Ex-Durgapur | 12MM | 32,200 | 32,000 | 32,400 | + 200 | 31,400 | 30,700 | |
| Ex-Raipur | 12MM | 32,500 | 32,300 | 32,700 | + 300 | 30,900 | 30,000 | |
| Ex-Mumbai | 12MM | 34,800 | 34,400 | 35,000 | + 200 | 33,400 | 31,100 | |
| Ex-Chennai | 12MM | 35,000 | 34,800 | 35,500 | + 500 | 33,300 | 31,000 | |
| Ex-Hyderabad | 12MM | 34,500 | 34,300 | 34,700 | + 500 | 32,500 | 30,850 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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