Indian Billet & Sponge Trade Log, 18 Aug

On daily basis, Indian Sponge offers almost remained firm while Billet market registered price rise of INR 200-500/MT (USD 3-8).

Major price in billet of INR 250-500/MT registered in South India meanwhile in Central & East regions it marginally increase around INR 100/MT.

On 18 Aug, SteelMint’s price assessments for induction furnaces billet size 125×125 mm are reported at INR 27,000-29,500/MT (USD 421-461) ex-plant.

While, coal based sponge C-DRI price assessment was at INR 18,200-19,200/MT (USD 284-300) ex-plant.

Trade Updates:

1.  Raipur based Integrated plants offer remains unaltered, FeM 80 P-DRI at INR 18,100/MT ex-plant & excluding of GST at 18%.

2.  A day before, Raipur (Chattishgarh) sold Induction furnace grade billet to Jalna (Maharashtra) at INR 27,000-27,200/MT; ex-plant & excluding of GST.

3. Bhaskar Steel and Ferro Alloy Ltd, an Odisha based manufacturer has offer FeM 80 C-DRI at INR 18,000/MT & billet at INR 27,000/MT ex-plant.

4. An official in Monnet Ispat reported FeM 80 C-DRI mix material offered to Patna at INR 17,900/MT ex-plant, Raigarh. Also offering Silico Manganese at INR 66,000/MT ex-plant. The both prices are excluding of GST.

5. BMM Ispat in South India has offered FeM 80 P-DRI at INR 17,600-17,700/MT ex-Bellary, Karnataka.

6. Sunvik Steels in Karnataka kept sponge prices unaltered; offering FeM 80 & 82 C-DRI are INR 17,900/MT and INR 18,300/MT ex-plant

7. Prakash Sponge, a prime grade sponge maker in Karnataka sold FeM 80 C-DRI lumps at INR 18,000/MT ex-plant.

8. Vizag Steel concluded the tender for 20,000 MT bloom (150*150 mm, IS 2830 C20 MMN GR A) at around USD 480/MT, FoB India.

Indian sponge & billet reference prices as on 18 August 2017

Basic, ex-works prices & excluding of GST @ 18%
Source: SteelMint Research