Daily Update: Indian Sponge & Billet Market
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In the week opening, Indian semis offers witness further rise today by INR 100-500/MT across major markets.
SteelMint's price assessments for induction furnaces billet size 125x125 mm are reported at INR 32,100-36,000/MT (USD 506-567) ex-plant.
Further the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 21,500-22,600/MT (USD 339-356); prices are ex-plant & excluding GST.
Today (Monday, January 15, 2018) INR to USD exchange rate stood at INR 63.51 & BSE Sensex closed at 34,843 (+251).
Key Market Updates:
1. Odisha Mining Corporation (OMC), a state-owned miner has scheduled its next e-auction on 18 Jan'18 for 480,000 MT iron ore lumps.
2. SAIL's Bokaro Steel Limited is undergoing maintenance shut down at its cold rolling mill-3 from beginning of this month - Sources
3. Raipur, Central India based Integrated plants offers increased by INR 200/MT D-o-D, offering Sponge P-DRI at INR 21,100-21,300/MT ex-plant
4. According to sources in Durgapur, Rashmi Metaliks today has increased offers by INR 100/MT to INR 21,600/MT for FeM 78 P-DRI.
5. 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.
6. Bhushan Power & Steel has offers Sponge P-DRI at INR 20,500-600/MT & steel grade Pig iron at INR 27,700/MT ex- Jharsuguda. However the pig iron deals yet to take place, according to the officials.
7. Monnet Ispat (Raipur) sold 1,000 ton P-DRI at INR 20,500/MT ex-plant, Raigarh. Also added, Sponge DR CLO deals from its Raipur based plant at INR 23,000/MT, ex-plant. The deal made 2 days back, officials from Monnet Ispat reported.
8. BIOP in South India has offered FeM 80 & 82 C-DRI lumps at INR 22,000/MT & 22,500/MT ex-plant, Karnataka. Majorly deals concluded for Jalna (Maharashtra) market, an official added.
9. The private pig iron producers in Eastern India have raised prices by INR 500/MT on climb billet prices. The latest offers are assessed at INR 26,500-26,700/MT ex-Bokaro & INR 26,800-27,000/MT ex-Durgapur. Meanwhile, in Central India-Raipur it remained unaltered at INR 28,500/MT.
10. During last Saturday - 13th Jan, Raipur Ingot sold to Hyderabad in good quantity, the trade participants reported. The deal price assessed at INR 32,400-32,500/MT (ex-plant) and freight cost via road at INR 2,200-2,300/MT.
11. Kalika Steel Alloys in Jalna increased prices by INR 200/MT and offered 28 mm rebar at INR 36,700/MT ex-plant & excluding GST.
12. Wire rod prices enhanced today by INR 500/MT and fresh offers are at INR 39,100/MT ex-Raipur with INR 800-1,000/MT discount and INR 38,100-38,500/MT ex-Durgapur
13. Gujarat based Akshar TMT has increased rebar offers by INR 500/MT D-o-D. The fresh offers are reported at INR 47,000/MT FOR & including GST at 18%, Size - 20 mm.
Reference prices as on 15th January 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 22,600 | 22,500 | 22,700 | + 100 | 22,100 | 20,000 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 21,500 | 21,400 | 21,600 | + 100 | 21,450 | 19,200 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 22,300 | 22,200 | 22,400 | + 200 | 22,300 | 20,600 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 21,700 | 21,600 | 21,800 | + 500 | 20,800 | 18,700 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 21,600 | 21,500 | 21,700 | + 100 | 21,100 | 19,000 |
| Ex-Jharsugda | Lumps, FeM 78%, +/-1 | 20,200 | 20,100 | 20,200 | NA | 20,400 | 18,400 | |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 21,200 | 21,100 | 21,300 | + 200 | 21,050 | 19,450 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 20,800 | 20,700 | 20,900 | + 200 | 20,200 | 18,200 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 21,000 | 20,900 | 21,100 | 0 | 20,200 | 18,700 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 34,200 | 34,200 | 34,300 | 0 | 33,950 | 31,550 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 32,300 | 32,200 | 32,400 | + 100 | 32,100 | 29,500 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 31,700 | 31,600 | 31,800 | + 300 | 31,250 | 27,950 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 32,500 | 32,400 | 32,500 | + 100 | 32,000 | 28,900 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 35,100 | 35,000 | 35,200 | - 100 | 34,800 | 31,600 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 34,000 | 33,800 | 34,000 | 0 | 34,250 | 31,000 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 36,000 | 35,800 | 36,000 | + 500 | 35,000 | 31,500 | |
| Billet | Ex-Mandi Gobindgarh | 125x125 mm, IS 2831 | 35,100 | 35,000 | 35,200 | 0 | 34,300 | 32,000 |
| Ex-Durgapur | 125x125 mm, IS 2831 | 32,700 | 32,600 | 32,800 | + 300 | 32,300 | 29,700 | |
| Ex-Rourkela | 125x125 mm, IS 2831 | 32,100 | 32,000 | 32,200 | + 100 | 31,800 | 28,900 | |
| Ex-Raipur | 125x125 mm, IS 2831 | 33,400 | 33,300 | 33,500 | + 100 | 32,900 | 29,900 | |
| Ex-Mumbai | 125x125 mm, IS 2831 | 35,300 | 35,200 | 35,400 | - 100 | 35,000 | 31,900 | |
| Ex-Chennai | 125x125 mm, IS 2831 | 34,500 | 34,250 | 34,500 | 0 | 34,750 | 31,500 | |
| Ex-Hyderabad | 125x125 mm, IS 2831 | 36,000 | 35,800 | 36,000 | + 500 | 35,000 | 31,500 | |
| TMT | Ex-Delhi/NCR | 12MM | 38,500 | 38,300 | 38,700 | + 300 | 38,700 | 35,600 |
| Ex-Durgapur | 12MM | 36,800 | 36,600 | 37,000 | + 200 | 36,100 | 32,400 | |
| Ex-Raipur | 12MM | 37,200 | 37,000 | 37,400 | + 600 | 36,500 | 32,600 | |
| Ex-Mumbai | 12MM | 39,300 | 38,900 | 39,400 | 0 | 39,200 | 35,400 | |
| Ex-Chennai | 12MM | 38,500 | 38,300 | 38,700 | 0 | 38,600 | 35,000 | |
| Ex-Hyderabad | 12MM | 39,200 | 39,000 | 39,200 | + 500 | 38,200 | 34,500 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
