Today, semis manufacturers have raised prices by INR 100-500/MT. However, On increased prices trades are limited, as reported by market participants.
In a day, billet offers in central, east & west India have increased upto INR 500/MT. Whereas sponge iron witness a slight price rise of INR 100-150/MT in central & east India. Market participants reported, trade volume are limited at current prices as buyers are cautious due to uncertain market directions.
Currently, billet offers in the domestic market are reached at INR 21,800-24,600/MT (USD 325-365/MT). While, sponge C-DRI (78-80 FeM) offers are evaluated at INR 13,900-15,800/MT (USD 205-235), ex-works.
In outlook, trade sources are anticipating prices to remains range bound due to expensive raw material prices and subdued trade activities.
Billet prices as on 12 Oct’16
| Particular/Delivery | Size/Grade | Prices | D-o-D | W-o-W |
| Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 25,350 | + 150 | – 250 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 22,000 | 0 | – 300 |
| Ex-Kolkata | 125×125 mm, IS 2831 | 22,400 | 0 | – 300 |
| Ex-Rourkela | 125×125 mm, IS 2831 | 21,800 | + 150 | – 200 |
| Ex-Raipur* | 125×125 mm, IS 2831 | 22,450 | – 50 | – 650 |
| Ex-Ahmedabad | 125×125 mm, IS 2831 | 24,600 | + 500 | – 700 |
| Ex-Goa | 125×125 mm, IS 2831 | 23,000 | + 100 | – 300 |
| Ex-Jalna | 125×125 mm, IS 2831 | 23,400 | – 100 | – 400 |
| Ex-Mumbai* | 100×100 mm, IS 2831 | 23,700 | – 100 | – 500 |
| Ex-Chennai | 125×125 mm, IS 2831 | 23,500 | 0 | – 300 |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 23,000 | 0 | – 1,000 |
Basic prices, all taxes excluded
Sources: SteelMint Research
Leave a Reply