Indian Semi finished offers witness further rise today by INR 100-300/MT across major markets.
The medium size sponge manufacturers in Eastern region indicates about further strong sponge prices following price rally in Iron ore & pellets.
SteelMint’s price assessments for induction furnaces billet size 125×125 mm are reported at INR 29,100-32,800/MT (USD 455-512) ex-plant.
Further the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 18,800-20,500/MT (USD 294-320); prices are ex-plant & excluding GST.
Today (Friday, December 15, 2017) INR to USD exchange rate stood at INR 64.05 & BSE Sensex closed at 33,462 (+216).
Key Market Updates:
1. Major merchant miners in Odisha have raised iron ore prices today. Lump prices have increased by INR 400/MT and fines prices have moved up by INR 200/MT.
2. Bhushan Power & Steel has sold out Pig iron at INR 24,500/MT (ex-plant) for Central region, the officials reported. Now, offers for the day increased at INR 24,700/MT ex-plant. Jharsugda.
3. Indian sponge iron export offers to Bangladesh have risen by USD 10-15/MT in the current week & stood at around USD 345-350/MT; CPT Benapole (land port of Bangladesh and India).
4. Central India based Integrated plants have increased Sponge P-DRI offers by INR 100-200/MT to INR 19,500-19,600/MT. Sponge DR-CLO grade offers also up by INR 200/MT to INR 21,300-21,500/MT. Both prices ex-plant & excluding GST.
5. Rashmi Metaliks in Durgapur has increased sponge prices about INR 300/MT to INR 19,000/MT for P-DRI, the sources report.
6. Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI mix material at INR 19,500/MT & billet at INR 29,000/MT ex-plant.
7. BMM Ispat in South India (Karnataka) has increased offers for FeM 80 P-DRI by INR 300-400/MT to INR 18,400/MT ex-Bellary, an official reported.
8. Induction grade billet export offers for Nepal are heard at USD 455-458/MT (ex-mill) Durgapur.
9. Indian 40,000 MT Billet export tender receives high bid to USD 500/MT FOB India owing to rise in global markets. Prior, to this the tender was concluded at USD 460-465/MT FoB for South East Asia.
10. Durgapur based manufacturers concluded Wire rod export (5.5-6.0 mm) deal to Nepal at USD 533-535/MT (ex-mill), trade sources report.
11. Mumbai-Maharasthra based SRMM increases structure price by INR 800/MT and Guardian rebar offers by INR 300/MT. Raipur based producers also raise slightly rebar & structure prices by INR 100-200/MT.
12. According to market participants, SAIL (Steel Authority of India) hike long steel offers about INR 1,000/MT (USD 15).
Reference prices as on 15th December 2017
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 20,000 | 19,900 | 20,100 | + 200 | 19,400 | 18,100 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 19,500 | 19,400 | 19,500 | + 300 | 18,500 | 17,300 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 20,500 | 20,400 | 20,600 | + 100 | 19,400 | 18,800 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 18,800 | 18,700 | 18,900 | + 100 | 17,650 | 17,300 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 19,000 | 18,900 | 19,100 | + 200 | 18,400 | 17,200 |
| Ex-Jharsugda | Lumps, FeM 78%, +/-1 | 18,400 | 18,300 | 18,500 | + 200 | 17,400 | 16,300 | |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 19,550 | 19,500 | 19,600 | + 200 | 18,500 | 17,500 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 18,300 | 18,200 | 18,400 | + 300 | 17,300 | 17,000 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 18,700 | 18,600 | 18,800 | + 100 | 17,900 | NA | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 31,700 | 31,600 | 31,800 | + 100 | 30,800 | 30,000 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 29,600 | 29,600 | 29,700 | + 300 | 28,700 | 27,550 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 28,200 | 28,100 | 28,300 | + 250 | 27,050 | 26,200 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 29,000 | 28,900 | 29,100 | + 100 | 27,600 | 27,000 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 31,900 | 31,800 | 32,000 | + 400 | 30,300 | 28,400 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 31,000 | 30,800 | 31,200 | 0 | 29,500 | 27,000 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 31,500 | 31,500 | 31,700 | 0 | 30,000 | 28,000 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 32,200 | 32,100 | 32,300 | + 100 | 31,300 | 30,500 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 29,900 | 29,800 | 30,000 | + 300 | 29,000 | 27,850 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 29,100 | 29,000 | 29,200 | + 200 | 27,700 | 26,500 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 29,900 | 29,800 | 30,000 | 0 | 28,500 | 27,500 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 32,100 | 32,100 | 32,200 | + 300 | 30,500 | 28,600 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 31,500 | 31,300 | 31,500 | 0 | 30,000 | 27,500 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 31,500 | 31,500 | 31,700 | 0 | 30,000 | 28,000 | |
| TMT | Ex-Delhi/NCR | 12MM | 35,300 | 35,100 | 35,400 | + 300 | 34,200 | 33,800 |
| Ex-Durgapur | 12MM | 32,400 | 32,200 | 32,600 | + 200 | 31,600 | 31,000 | |
| Ex-Raipur | 12MM | 32,700 | 32,500 | 32,900 | + 200 | 31,200 | 30,200 | |
| Ex-Mumbai | 12MM | 35,100 | 34,700 | 35,200 | + 300 | 33,600 | 31,600 | |
| Ex-Chennai | 12MM | 35,000 | 34,800 | 35,500 | 0 | 33,300 | 31,000 | |
| Ex-Hyderabad | 12MM | 34,500 | 34,300 | 34,700 | 0 | 33,000 | 31,000 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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