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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.

Semi Finished

-- 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

Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research

30 Oct 2018, 18:36 IST

 

 

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