BigMint is a Market Intelligence and Price Reporting firm that caters to the data and analytics requirements of businesses in the commodities sector. It publishes real time prices and information, which is impartial, independent and reliable, sourced from all industry interfaces – sellers, buyers, agents and traders. This data is filtered and passed through very stringent, calculative assessments before final prices are derived, thereby giving our clients accurate pricing.

Go to List

Daily Update: Indian Sponge & Billet Market

...

Semi Finished

BigMint Bureau

693 Reads

7 Mar 2018, 18:06 IST

Daily Update: Indian Sponge & Billet Market

Today, Indian semi finished market reported mix trends as price fluctuation remain in the range of INR 100-500/MT for both Sponge iron & Billets. The industry participants reported average trade activities resulting volatility in prices.

SteelMint's price assessments for induction furnaces billet size 125x125 mm are reported at INR 33,000-36,500/MT (USD 508-562) ex-plant.

Further the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 20,500-22,700/MT (USD 316-350); prices are ex-plant & excluding GST.

On 7th Mar 2018 (Wednesday) INR to USD exchange rate stood at INR 64.91 & BSE Sensex closed at 33,033 (-284).

Key Market Updates:

1. JSW Steel's iron ore sourcing from Karnataka e-auctions up by 4% M-o-M & stood at 1.32 MnT in Feb'18 against 1.27 MnT in Jan'18.

2. Indian Iron ore imports were up by 33% to 7.14 MnT in the first eleven months of FY18 against 5.35 MnT in the same period last year

3. Raipur, Central India based Integrated plants offers reduced by INR 100/MT D-o-D, offering Sponge P-DRI at INR 20,200-20,300/MT ex-plant

4. Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 20,500-20,600/MT & billet at INR 33,000/MT ex-plant.

5. BMM Ispat in Karnataka has offered sponge P-DRI at INR 20,500/MT and Sunvik Steels sponge C-DRI lumps at INR 21,600/MT. Both offers for FeM 80, excluding GST & ex-plant basis.

6. BIOP Steels in South India has offered FeM 80 & 82 C-DRI lumps at INR 21,500/MT & 22,000/MT ex-plant, Karnataka; an official reported.

7. Shakti Ferro in Chennai has offered Billet at INR 35,000/MT & Rebars 12mm at INR 39,000/MT ex-plant & excluding GST, according to officials.

8. The medium mills in Raipur & Mumbai have rolled over Rebar & Structure prices despite fall in billet prices.

9. Eastern India, Durgapur based manufacturers continue to conclude export deals for Wire rod, Billet & Sponge iron to Nepal & Bangladesh. The export prices for Nepal are as follow - Wire rod at USD 605-610/MT, Billet at USD 520-525/MT (ex-mill) and sponge export offers for Bangladesh are heard at close to USD 400/MT CPT Benapole (dry port of Indian & Bangladesh)

Reference prices as on 7th March 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	0	22,100	21,000
	Ex-Rourkela	Mix, FeM 80%, +/-1	20,700	20,600	20,800	- 200	20,450	20,000
	Ex-Raipur	Mix, FeM 80%, +/-1	21,700	21,600	21,800	+ 100	21,300	20,500
	Ex-Bellary	Lumps, FeM 80%, +/-1	21,300	21,200	21,400	0	20,600	19,900
P-DRI	Ex-Durgapur	Lumps, FeM 78%, +/-1	21,500	21,400	21,600	0	21,000	20,000
	Ex-Raipur	Lumps, FeM 80%, +/-1	20,200	20,100	20,300	- 150	19,900	19,100
	Ex-Bellary	Lumps, FeM 80%, +/-1	20,500	20,400	20,600	+ 100	19,900	19,200
	Ex-Hyderabad	Lumps, FeM 80%, +/-1	21,000	20,900	21,100	0	20,500	19,600
Ingot	Ex-Mandi Gobindgarh	3.5 x 4.5 Inch, IS 2830	35,700	35,600	35,800	0	35,200	33,800
	Ex-Durgapur	3.5 x 4.5 Inch, IS 2830	33,500	33,400	33,600	0	32,800	31,000
	Ex-Rourkela	3.5 x 4.5 Inch, IS 2830	32,300	32,200	32,400	0	31,450	30,000
	Ex-Raipur	3.5 x 4.5 Inch, IS 2830	32,800	32,700	32,800	0	32,100	30,750
	Ex-Mumbai	3.5 x 4.5 Inch, IS 2830	35,000	34,900	35,100	- 300	34,600	33,500
	Ex-Chennai	3.5 x 4.5 Inch, IS 2830	35,000	34,800	35,200	+ 500	34,000	33,000
	Ex-Hyderabad	3.5 x 4.5 Inch, IS 2830	34,800	34,500	34,900	0	32,800	32,500
Billet	Ex-Mandi Gobindgarh	125x125 mm, IS 2831	36,500	36,400	36,600	0	36,000	34,300
	Ex-Durgapur	125x125 mm, IS 2831	33,900	33,800	34,000	0	33,200	31,500
	Ex-Rourkela	125x125 mm, IS 2831	33,000	32,900	33,100	+ 100	32,200	30,500
	Ex-Raipur	125x125 mm, IS 2831	33,600	33,500	33,700	0	32,800	31,300
	Ex-Mumbai	125x125 mm, IS 2831	35,200	35,200	35,300	- 300	34,800	33,700
	Ex-Chennai	125x125 mm, IS 2831	35,500	35,300	35,700	+ 500	34,500	33,500
	Ex-Hyderabad	125x125 mm, IS 2831	35,000	34,500	35,000	0	33,000	32,500
TMT	Ex-Delhi/NCR	12MM	39,100	38,900	39,300	0	38,200	37,200
	Ex-Durgapur	12MM	38,500	38,300	38,700	+ 200	37,500	35,600
	Ex-Raipur	12MM	37,000	36,800	37,200	0	36,200	35,200
	Ex-Mumbai	12MM	39,200	38,800	39,300	0	38,700	38,500
	Ex-Chennai	12MM	40,000	39,700	40,200	+ 400	38,800	38,200
	Ex-Hyderabad	12MM	40,500	40,300	40,700	0	38,500	36,700