In the week opening, domestic trade activities were silent as a result prices for both Sponge iron & Billet fall slightly by INR 100-200/MT.
For the day, SteelMint’s price assessment for induction furnaces billet stood at INR 28,900-32,000/MT (USD 450-498) ex-plant. Meanwhile, the coal based sponge (78-80 FeM) C-DRI price assessed at INR 18,700-20,600/MT (USD 291-321); prices are ex-plant & excluding 18% GST.
Today (Monday, December 18, 2017) INR to USD exchange rate stood at INR 64.22 & BSE Sensex closed at 33,601 (+138).
Key Market Updates:
1. Iron ore dispatches from Odisha has witnessed a marked rise of 11% M-o-M in Nov’17 to 5.96 MnT in Nov’17 compared to 5.39 MnT in Oct’17.
2. Raipur, Central India based Integrated plants offers reduced by INR 100/MT D-o-D, offering Sponge P-DRI at INR 19,400-19,500/MT ex-plant
3. Jharsugda, Odisha Bhushan Power & Steel has offer Sponge P-DRI at INR 18,500/MT & steel grade Pig iron at INR 24,700/MT ex-plant, according to the officials.
4. A day before, Few Raigarh based smelters purchased 80 FeM C-DRI mix material from Odisha at INR 19,900-20,000/MT FoR Raigarh
5. BMM Ispat in South India has kept offers unaltered, offering FeM 80 P-DRI lumps at INR 18,400/MT ex-Bellary, Karnataka.
6. BIOP Steels in South India has offered FeM 80 & 82 C-DRI lumps at INR 18,900/MT & 19,300/MT ex-plant, Karnataka. Major deals have concluded for Jalna (Maharashtra), officials reported.
7. SAIL has invited a global tender for purchase of 20,000 MT Carbon Steel Slab for its Salem Steel Plant, Tamil Nadu. The Due date for bid submission is 22 Jan’18 at 15:00 hrs IST and the techno-commercial opening is on 23 Jan’18 at 10:00 hrs IST.
8. Vizag Steel also known as RINL has increased Billet & Rebar prices by INR 600/MT (USD 9), shows in latest price circular by the company w.e.f. 18 Dec 2017.
9. Medium mills in Raipur have reduced rebar & structure offers by INR 100-200/MT due to poor inquiries.
10. Shakti Ferro based in Chennai has offered Rebar 12mm at INR 35,000/MT ex-plant & excluding GST.
Reference prices as on 18th 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 | 0 | 19,200 | 17,950 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 19,200 | 19,100 | 19,300 | – 100 | 18,400 | 17,400 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 20,600 | 20,500 | 20,700 | – 50 | 19,900 | 18,600 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 18,700 | 18,700 | 18,800 | 0 | 17,800 | 17,300 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 19,000 | 18,900 | 19,100 | 0 | 18,200 | 17,100 |
| Ex-Jharsugda | Lumps, FeM 78%, +/-1 | 18,400 | 18,300 | 18,500 | 0 | NA | 16,300 | |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 19,450 | 19,400 | 19,500 | – 100 | 18,800 | 17,350 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 18,200 | 18,000 | 18,400 | 0 | 17,400 | 17,000 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 18,700 | 18,600 | 18,800 | 0 | 17,900 | 17,500 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 31,550 | 31,500 | 31,600 | + 50 | 30,600 | 29,750 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 29,500 | 29,400 | 29,600 | + 100 | 28,600 | 27,450 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 27,950 | 27,900 | 28,000 | – 50 | 27,000 | 26,100 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 28,900 | 28,800 | 29,000 | 0 | 28,000 | 26,550 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 31,600 | 31,500 | 31,700 | – 100 | 30,300 | 28,200 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 31,000 | 30,800 | 31,200 | 0 | 29,800 | 27,250 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 31,500 | 31,300 | 31,700 | 0 | 30,300 | 28,500 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 32,000 | 32,000 | 32,100 | 0 | 31,100 | 30,200 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 29,700 | 29,600 | 29,800 | 0 | 28,900 | 27,800 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 28,900 | 28,800 | 29,000 | – 100 | 27,700 | 26,400 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 29,900 | 29,800 | 30,000 | 0 | 28,900 | 27,100 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 31,900 | 31,800 | 32,000 | 0 | 30,500 | 28,400 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 31,500 | 31,300 | 31,500 | 0 | 30,300 | 27,900 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 31,500 | 31,300 | 31,500 | 0 | 30,300 | 28,500 | |
| TMT | Ex-Delhi/NCR | 12MM | 35,600 | 35,400 | 35,800 | – 200 | 34,100 | 33,500 |
| Ex-Durgapur | 12MM | 32,400 | 32,200 | 32,600 | 0 | 31,600 | 30,800 | |
| Ex-Raipur | 12MM | 32,600 | 32,400 | 32,800 | – 100 | 31,500 | 30,000 | |
| Ex-Mumbai | 12MM | 35,400 | 35,000 | 35,500 | + 100 | 33,700 | 31,800 | |
| Ex-Chennai | 12MM | 35,000 | 34,800 | 35,500 | 0 | 33,800 | 31,300 | |
| Ex-Hyderabad | 12MM | 34,500 | 34,300 | 34,700 | 0 | 33,300 | 31,400 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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