Daily Update: Indian Sponge & Billet Market
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Indian Semi finished offers decline on daily assessment, Sponge iron by INR 100-300/MT & Billet by INR 200-600/MT. During the day major price fall in billets were seen in Western India by INR 400-600/MT (USD 6-10) over weak trade activities.
SteelMint's price assessments for induction furnaces billet size 125x125 mm are reported at INR 32,100-35,000/MT (USD 506-552) ex-plant.
Further the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 20,700-22,400/MT (USD 326-353); prices are ex-plant & excluding GST.
Today (Friday, January 5, 2017) INR to USD exchange rate stood at INR 63.37 & BSE Sensex closed at 34,153 (+184).
Key Market Updates:
1. Hindustan Newsprint Limited (HNL), a subsidiary of Hindustan Paper Corporation Limited (HPC) has invited a tender for purchase of 40,000 MT non-coking coal
2. Raipur, Central India based Integrated plants offered Sponge P-DRI at INR 21,000-21,200/MT ex-plant , which was at INR 21,300-21,500/MT on 4th Jan'17.
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. Bhushan Power & Steel based in Odisha has offers Sponge P-DRI at INR 20,500-600/MT & steel grade Pig iron at INR 27,000/MT ex-plant, Jharsugda.
5. Durgapur- East India based Rashmi Metaliks has offers Sponge P-DRI at INR 21,200/MT with decline in offers by INR 100-200/MT day on day, the sources report.
6. Singhal Steel offered P-DRI at INR 20,700/MT ex-plant (Raigarh), an official reported. Also added no deals concluded for Raipur today.
7. BMM Ispat in South India (Karnataka) has reduced offers for FeM 80 P-DRI by INR 200/MT to INR 20,300/MT ex-Bellary, an official reported.
8. Tata Metaliks sold a rake Foundry grade pig iron at INR 32,800/MT FoR Ludhiana, North India. The company's ex-mill prices are at INR 30,200/MT, Kharagapur, East India
9. Jindal Steel has offered Steel grade Pig iron at INR 28,000/MT ex-Raigarh & Granulated Pig iron (panther shots) at INR 26,500/MT ex-Angul, Odisha.
10. Odisha based manufacturer, Ganesh Metaliks offered Billet at INR 32,200/MT ex-plant. trade activities are firm at these offers an official reported.
11. Indian bulk shipments of Re-bar increase two folds where as billet shipments fall in the month of December'17- Port Data.
12. According to an producer source in East India, last week a rake (2,500 MT) of Wire rod have been sold to Nepal at USD 625/MT CFR (landed) to Biratnagar. Freight cost by the manufacturers are reported at around USD 30/MT.
13. The manufacturers in Raipur today reduced prices for Wire rod by INR 500/MT, Structure by INR 300-500/MT & Rebars by INR 300-400/MT.
Reference prices as on 5th 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 | 0 | 20,800 | 19,400 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 21,500 | 21,400 | 21,600 | - 200 | 20,100 | 18,500 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 22,400 | 22,300 | 22,500 | - 100 | 21,500 | 19,400 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 20,700 | 20,600 | 20,800 | - 100 | 19,800 | 17,650 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 21,200 | 21,100 | 21,300 | 0 | 19,800 | 18,400 |
| Ex-Jharsugda | Lumps, FeM 78%, +/-1 | 20,500 | 20,400 | 20,600 | - 100 | NA | 17,400 | |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 21,100 | 21,000 | 21,200 | - 300 | 20,250 | 18,500 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 20,200 | 20,100 | 20,300 | - 100 | 19,200 | 17,300 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 20,200 | 20,100 | 20,300 | - 300 | 19,600 | 17,900 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 34,000 | 33,900 | 34,100 | - 200 | 32,300 | 30,800 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 32,000 | 31,900 | 32,000 | - 400 | 30,500 | 28,700 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 31,300 | 31,300 | 31,400 | - 300 | 29,600 | 27,050 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 32,000 | 31,900 | 32,000 | - 300 | 30,500 | 27,600 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 34,500 | 34,400 | 34,600 | - 500 | 32,800 | 30,300 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 34,000 | 33,900 | 34,100 | 0 | 33,000 | 29,500 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 35,000 | 34,700 | 35,000 | 0 | 33,500 | 30,000 | |
| Billet | Ex-Mandi Gobindgarh | 125x125 mm, IS 2831 | 34,500 | 34,400 | 34,600 | - 200 | 32,900 | 31,300 |
| Ex-Durgapur | 125x125 mm, IS 2831 | 32,200 | 32,100 | 32,300 | - 200 | 30,800 | 29,000 | |
| Ex-Rourkela | 125x125 mm, IS 2831 | 32,100 | 32,000 | 32,200 | - 200 | 30,500 | 27,700 | |
| Ex-Raipur | 125x125 mm, IS 2831 | 32,900 | 32,800 | 33,000 | - 300 | 31,300 | 28,500 | |
| Ex-Mumbai | 125x125 mm, IS 2831 | 34,800 | 34,700 | 34,900 | - 400 | 33,000 | 30,500 | |
| Ex-Chennai | 125x125 mm, IS 2831 | 34,500 | 34,400 | 34,500 | 0 | 33,500 | 30,000 | |
| Ex-Hyderabad | 125x125 mm, IS 2831 | 35,000 | 34,700 | 35,000 | 0 | 33,500 | 30,000 | |
| TMT | Ex-Delhi/NCR | 12MM | 39,200 | 39,000 | 39,400 | - 500 | 38,200 | 34,200 |
| Ex-Durgapur | 12MM | 36,100 | 35,900 | 36,300 | - 200 | 34,700 | 31,600 | |
| Ex-Raipur | 12MM | 36,700 | 36,500 | 36,900 | - 300 | 35,200 | 31,200 | |
| Ex-Mumbai | 12MM | 38,800 | 38,400 | 38,900 | 0 | 37,000 | 33,600 | |
| Ex-Chennai | 12MM | 38,400 | 38,400 | 38,700 | 0 | 37,000 | 33,300 | |
| Ex-Hyderabad | 12MM | 38,200 | 38,000 | 38,200 | 0 | 36,700 | 33,000 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
