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Daily Update: Indian Sponge & Billet Market

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30 Oct 2018, 18:36 IST

Daily Update: Indian Sponge & Billet Market

Today, the Semis manufacturers in major Indian markets have increased prices and as per assessment the Billet prices raised by INR 200-500/MT & Sponge iron by INR 100-200/MT.

As per trade participants, routine purchases are active through the local rolling mills, this leads to minor change in offers.

SteelMint's latest price assessment for induction furnaces billet in Indian market stood at INR 33,300-36,900/MT (USD 453-502) ex-plant.

Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 21,600-23,100/MT (USD 293-314); prices are ex-plant & excluding GST.

Rupee & BSE Sensex

-- On 30th October 2018 (Tuesday) INR to USD exchange rate stood at INR 73.56.

-- BSE Sensex closed at 33,891(-176) on Tuesday, as against last day (Monday) at 34,067(+718).

-- NSE Nifty50 index was closed today at 10,198(-52).

Raw Materials

-- Odisha iron ore production fell 29% to 19.89 MnT during Jul-Sept amid monsoons.

-- As per data, India imported 0.16 MT iron ore from Iran in Oct'18 at Mangalore port, up more than two folds as against 0.05 MnT a month ago.

-- According to the latest assessment of Coking coal, spot prices of the Premium HCC are reported at around USD 219.25/MT FoB Australia & USD 234.25/MT CNF India.

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-- Delhi government bans all construction activities in Delhi-NCR region till 10th Nov due to rising pollution levels.

-- Indian sponge iron export offers to Bangladesh for lumps of grade FeM 78-80, reported at USD 340/MT CPT Benapole (dry land port of Bangladesh & India) and USD 360/MT CFR Chittagong, Bangladesh.

-- Indian medium mills export offers to Nepal hovering at USD 460/MT for Billet & USD 545/MT for Wire rod (5.5 mm) ex-mill at Durgapur. As per exporters, the major buyers in Nepal have reduced purchases due to festive off in the country for 4-6 days during Diwali and with anticipations of further fall in Indian export offers.

-- Raipur, Central India based Integrated plants have rolled over Sponge P-DRI prices to INR 21,300-21,400/MT ex-plant.

-- Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 22,200/MT & Billet at INR 33,200-33,300/MT ex-plant

-- BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 20,600-20,800/MT ex-Bellary, Karnataka

-- BIOP Steels in South India has kept offers unaltered; offering FeM 80 & 82 C-DRI lumps at INR 22,300/MT & INR 22,800/MT ex-plant, Karnataka; an official reported.

Re-bar (12 mm)

-- Rathi Steels in North region unchanged offering at INR 40,300/MT.

-- Raipur based - SPEED TMT unchanged their offering at INR 36,700/MT.

-- Jalna based SRJ Peety Steels Pvt Ltd (Shree Om) TMT offering at INR 36,800/MT, down by INR 300/MT.

-- West region, Maharashtra based - Vistar TMT unchanged their current offering at INR 37,000/MT.

-- Chennai based ARS Steel (Trusteel) unchanged their offering at INR 42,100/MT.

Wire rod & Pipe

-- Raipur based suppliers have roll over trade discount on wire rod at around INR 800-1,000/MT.

-- Mandi Gobindgarh, North India based ERW pipe manufacturers decreased prices by INR 500/MT & offers reported at around INR 43,000/MT.

Note - the prices mentioned above based on ex-work, excluding GST and changes are placed on day basis.

Reference prices as on 30th October 2018

	Particular/Delivery	Size, Grade, Origin	Prices	Min	Max	Change	1W	1M
Scrap	Ex-Alang	HMS(80:20)	26,700	26,600	26,800	+ 200	27,500	27,200
	Ex-Mumbai	HMS(80:20)	25,500	25,400	25,600	+ 100	25,700	27,000
	Ex-Chennai	HMS(80:20)	26,800	26,700	27,000	+ 300	26,400	26,600
C-DRI	Ex-Durgapur	Mix, FeM 78%, +/-1	23,100	23,000	23,200	+ 200	23,400	22,000
	Ex-Rourkela	Mix, FeM 80%, +/-1	22,200	22,100	22,300	+ 200	22,600	23,000
	Ex-Raipur	Mix, FeM 80%, +/-1	22,900	22,800	23,000	+ 100	23,300	24,200
	Ex-Bellary	Lumps, FeM 80%, +/-1	21,600	21,500	21,700	0	22,200	23,500
P-DRI	Ex-Durgapur	Lumps, FeM 78%, +/-1	21,800	21,700	21,900	+ 200	21,900	20,800
	Ex-Raipur	Lumps, FeM 80%, +/-1	21,300	21,200	21,400	0	21,700	22,700
	Ex-Bellary	Lumps, FeM 80%, +/-1	20,700	20,600	20,800	0	21,400	22,600
	Ex-Hyderabad	Lumps, FeM 80%, +/-1	21,600	21,500	21,700	0	22,000	23,600
Ingot	Ex-Mandi Gobindgarh	3.5 x 4.5 Inch, IS 2830	36,100	36,000	36,200	0	36,700	36,200
	Ex-Durgapur	3.5 x 4.5 Inch, IS 2830	33,900	33,800	34,000	0	34,300	33,800
	Ex-Rourkela	3.5 x 4.5 Inch, IS 2830	32,800	32,700	32,900	0	33,400	32,800
	Ex-Raipur	3.5 x 4.5 Inch, IS 2830	32,900	32,900	33,000	0	33,550	33,100
	Ex-Mumbai	3.5 x 4.5 Inch, IS 2830	33,200	33,100	33,300	0	33,700	35,200
	Ex-Chennai	3.5 x 4.5 Inch, IS 2830	34,800	34,600	35,000	- 200	35,300	36,500
	Ex-Hyderabad	3.5 x 4.5 Inch, IS 2830	34,200	34,100	34,300	+ 500	34,700	35,700
Billet	Ex-Mandi Gobindgarh	125x125 mm, IS 2831	36,900	36,800	37,000	0	37,500	37,000
	Ex-Durgapur	125x125 mm, IS 2831	34,200	34,100	34,300	0	34,800	34,400
	Ex-Rourkela	125x125 mm, IS 2831	33,300	33,200	33,400	0	33,900	33,500
	Ex-Raipur	125x125 mm, IS 2831	33,900	33,800	34,000	+ 100	34,400	34,000
	Ex-Ahmedabad	125x125 mm, IS 2831	34,300	34,200	34,400	+ 200	34,750	35,300
	Ex-Mumbai	125x125 mm, IS 2831	33,400	33,300	33,500	0	33,900	35,400
	Ex-Chennai	125x125 mm, IS 2831	35,300	35,100	35,500	- 200	35,800	37,000
	Ex-Hyderabad	125x125 mm, IS 2831	34,500	34,400	34,600	+ 500	35,000	36,000
TMT	Ex-Delhi/NCR	12-25 MM, IS 1786- 500 Fe	39,400	39,200	39,400	0	40,100	39,000
	Ex-Durgapur	12-25 MM, IS 1786- 500 Fe	39,300	39,100	39,500	0	39,800	39,100
	Ex-Raipur	12-25 MM, IS 1786- 500 Fe	36,600	36,400	36,800	0	37,800	38,000
	Ex-Mumbai	12-25 MM, IS 1786- 500 Fe	37,000	36,600	37,200	0	37,700	39,600
	Ex-Chennai	12-25 MM, IS 1786- 500 Fe	40,200	40,000	40,400	- 300	40,800	42,200
	Ex-Hyderabad	12-25 MM, IS 1786- 500 Fe	38,500	38,300	38,700	+ 400	38,700	39,500