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Daily Update: Indian Sponge & Billet Market

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BigMint Bureau

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4 Jan 2018, 18:17 IST

Daily Update: Indian Sponge & Billet Market

Indian Billet & Sponge market today reported mix trends where prices fluctuated by INR 200-500/MT in major markets of Central, East & West regions. However, in South India, Chennai the manufacturers have raised billet prices by INR 500/MT (USD 8).

SteelMint's price assessments for induction furnaces billet size 125x125 mm are reported at INR 32,300-35,200/MT (USD 509-555) ex-plant.

Further the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 20,800-22,500/MT (USD 328-355); prices are ex-plant & excluding GST.

Today (Thursday, January 4, 2017) INR to USD exchange rate stood at INR 63.40 & BSE Sensex closed at 33,969 (+176).

Key Market Updates:

1. NMDC has raised Iron ore floor prices for Jan'18 Karnataka e-auctions by INR 500/MT (USD 8).

2. Indian Sponge iron export offers stable despite limited inquiries. SteelMint's price assessment for 80 FeM Sponge lumps in current week stood at USD 380/MT which was at USD 375-380/MT during last week, CPT Benapole port (land port of Bangladesh and India).

3. Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 21,500/MT & billet at INR 32,000/MT ex-plant.

4. Raipur, Central India based Integrated plants have reduced offers by INR 300/MT D-o-D, offering Sponge P-DRI at INR 21,400-21,500/MT ex-plant

5. Jharsugda, Odisha based manufacturer - Bhushan Power & Steel has offers Sponge P-DRI at INR 20,600-20,700/MT. Also offering steel grade Pig iron at INR 27,200-27,300/MT ex-plant, according to the officials.

6. A day before, Monnet Ispat sold 500-700 ton P-DRI at INR 21,200/MT ex-plant, Raigarh, an official reported. Also added, Sponge DR CLO deals from its Raipur based plant at INR 23,300/MT, ex-plant.

7. Vizag Steel has further increased its steel prices for Jan 2018 deliveries by INR 1,000-2,000/MT (USD 15-31). The offers increase for Rebar by INR 2000MT, Wire rod by INR 1,500/MT, Structure by INR 1,000/MT & Billet by INR 1,500/MT.

8. Indian Billet exports (under HS code 7207) were recorded at around 2.50 MnT during Jan-Dec 2017, which was 1.75 MnT during 2016.

9. The medium mills in Raipur today reduced Rebar & Structure prices by INR 200-300/MT due to limited inquiries.

Reference prices as on 4th January 2018

	Particular/Delivery	Size, Grade, Origin	Prices	Min	Max	Change	1W	1M
C-DRI	Ex-Durgapur	Mix, FeM 78%, +/-1	22,200	22,100	22,300	- 300	21,200	19,300
	Ex-Rourkela	Mix, FeM 80%, +/-1	21,700	21,600	21,800	- 100	20,300	18,500
	Ex-Raipur	Mix, FeM 80%, +/-1	22,500	22,400	22,600	- 200	21,500	19,300
	Ex-Bellary	Lumps, FeM 80%, +/-1	20,800	20,800	20,900	- 100	20,000	17,800
P-DRI	Ex-Durgapur	Lumps, FeM 78%, +/-1	21,200	21,100	21,300	- 300	20,200	18,300
	Ex-Jharsugda	Lumps, FeM 78%, +/-1	20,600	20,600	20,700	-100	NA	17,400
	Ex-Raipur	Lumps, FeM 80%, +/-1	21,400	21,300	21,500	- 300	20,300	18,200
	Ex-Bellary	Lumps, FeM 80%, +/-1	20,300	20,200	20,400	- 100	19,500	17,400
	Ex-Hyderabad	Lumps, FeM 80%, +/-1	20,500	20,400	20,600	0	20,000	18,000
Ingot	Ex-Mandi Gobindgarh	3.5 x 4.5 Inch, IS 2830	34,200	34,100	34,300	- 100	32,500	30,900
	Ex-Durgapur	3.5 x 4.5 Inch, IS 2830	32,400	32,300	32,500	- 100	30,900	28,600
	Ex-Rourkela	3.5 x 4.5 Inch, IS 2830	31,600	31,500	31,600	- 300	30,200	27,050
	Ex-Raipur	3.5 x 4.5 Inch, IS 2830	32,300	32,200	32,400	- 400	30,600	27,200
	Ex-Mumbai	3.5 x 4.5 Inch, IS 2830	35,000	34,900	35,100	- 300	33,300	30,100
	Ex-Chennai	3.5 x 4.5 Inch, IS 2830	34,000	33,900	34,100	+ 500	32,700	29,500
	Ex-Hyderabad	3.5 x 4.5 Inch, IS 2830	35,000	34,800	35,200	- 250	33,500	29,500
Billet	Ex-Mandi Gobindgarh	125x125 mm, IS 2831	34,700	34,600	34,700	- 100	33,000	31,400
	Ex-Durgapur	125x125 mm, IS 2831	32,400	32,300	32,500	- 100	31,300	29,000
	Ex-Rourkela	125x125 mm, IS 2831	32,300	32,200	32,400	- 200	31,000	27,600
	Ex-Raipur	125x125 mm, IS 2831	33,200	33,100	33,300	- 500	31,600	28,200
	Ex-Mumbai	125x125 mm, IS 2831	35,200	35,100	35,200	- 300	33,500	30,300
	Ex-Chennai	125x125 mm, IS 2831	34,500	34,400	34,500	+ 500	33,300	30,000
	Ex-Hyderabad	125x125 mm, IS 2831	35,000	34,800	35,200	- 250	33,500	29,500
TMT	Ex-Delhi/NCR	12MM	39,700	39,500	39,900	0	38,700	34,200
	Ex-Durgapur	12MM	36,300	36,100	36,500	- 200	34,900	31,400
	Ex-Raipur	12MM	37,000	36,800	37,200	- 100	35,400	30,900
	Ex-Mumbai	12MM	38,800	38,400	38,900	0	37,500	33,400
	Ex-Chennai	12MM	38,400	38,400	38,700	+ 400	36,800	33,300
	Ex-Hyderabad	12MM	38,200	38,000	38,400	- 200	36,700	32,500