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Daily Update: Indian Sponge & Billet Market

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17 Apr 2018, 18:28 IST
Daily Update: Indian Sponge & Billet Market

Indian Semis prices volatile during the day on subdued trade inquiries. As per SteelMint assessment the prices of Billet have increased by INR 100-300/MT while sponge prices fell slightly by INR 100-200/MT in Central India, day-on-day.

The market participants stated, shortage of ready delivery materials (billet & rebars) have supported prices, however the trade volume thin currently than the last week.

The latest price assessment for induction furnaces billet in Indian market stood at INR 34,600-38,000/MT (USD 527-578) ex-plant. Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 20,500-22,100/MT (USD 312-336); prices are ex-plant & excluding GST.

Rupee & BSE Sensex

-- On 17th Apr 2018 (Tuesday) INR to USD exchange rate stood at INR 65.65

-- BSE Sensex closed at 34,395(+89) on Tuesday, as against last day (Monday) at 34,305(+112).

Raw materials

-- Odisha's RP Sao mines may start iron ore production from this week. Mines was closed for almost last 2 years & has recently cleared the penalty on Supreme court's order. Mines have an EC limit of 5.7 MnT.

-- Melting scrap offers in Chennai, Southern India- Tamil Nadu rise by INR 600/MT in a week duration.

Semi finished

-- Raipur, Central India based Integrated plants offer unaltered, offering Sponge P-DRI at INR 20,100-20,200/MT ex-plant

-- Rashmi Metaliks in Durgapur has raised sponge prices by INR 700-800/MT and the current offers for P-DRI hovering at INR 20,500/MT - Sources.

-- Tata Metaliks, India's one of the largest foundry grade pig iron manufacturer has raised its prices by INR 600/MT (USD 10) & reported at INR 33,000/MT for high silicon, foundry grade Pig iron, ex-plant, Kharagpur.

-- East India, Durgapur based private pig iron producers have increased prices to INR 30,800-31,000/MT against last deals of INR 30,500/MT ex-plant. The prices increased in line with limited supply by most of merchant pig iron producers.

-- Odisha based sponge manufacturer sold FeM 80 C-DRI lumps to Jalna (Maharashtra) at INR 23,000-23,200/MT FoR Jalna.

-- BMM Ispat a price trend setter in South India sponge market has kept offers unaltered today and offering FeM 80 P-DRI lumps at INR 19,800-19,900/MT ex-Bellary, Karnataka.

-- BIOP Steels in South India has offered FeM 80 & 82 C-DRI lumps at INR 20,900/MT & INR 21,400/MT ex-plant, Karnataka; an official reported.

Finish Long

-- Rathi Steels in North India - Delhi have unchanged their price today and offering 12 mm rebars at INR 42,400/MT, excluding 18% GST.

-- Shakti Ferro Alloys in Chennai, South Region has increased their offers around INR 500/MT on day basis & offering Billet at INR 37,000/MT & Rebars at INR 42,000/MT with standard payment terms, ex-work & excluding GST.

-- North India - U.P based - Gallant Ispat Ltd has offered Rebars 12-25 mm at INR 41,100/MT ex-work & excluding GST.

-- South Region based - Prime Gold Int'l Ltd offering rebars at INR 42,000/MT (12 mm) ex-work & excluding GST.

-- East Region based - Shakambhari Ispat & Power Ltd has offered Wire Rod 5.5 mm at INR 40,500/MT ex-work & excluding GST. Further as per market sources, export offers being quoted to neighboring country at USD 620-625/MT (ex-works) but no deals has been noticed yet.

Reference prices as on 17th April 2018

Particular/Delivery Size, Grade, Origin Prices Min Max Change 1W 1M
Scrap Ex-Mumbai HMS(80:20) 26,200 26,100 26,300 0 26,000 25,400
Ex-Chennai HMS(80:20) 26,300 26,200 26,400 + 200 25,700 26,000
C-DRI Ex-Durgapur Mix, FeM 78%, +/-1 21,500 21,400 21,600 + 400 20,500 21,300
Ex-Rourkela Mix, FeM 80%, +/-1 20,900 20,800 21,000 0 20,600 20,400
Ex-Raipur Mix, FeM 80%, +/-1 22,100 22,000 22,200 0 22,000 21,650
Ex-Bellary Lumps, FeM 80%, +/-1 20,500 20,400 20,600 0 20,500 21,000
P-DRI Ex-Durgapur Lumps, FeM 78%, +/-1 20,200 20,100 20,300 + 500 19,000 20,000
Ex-Raipur Lumps, FeM 80%, +/-1 20,200 20,100 20,300 0 20,100 19,900
Ex-Bellary Lumps, FeM 80%, +/-1 19,600 19,500 19,700 - 200 19,800 20,100
Ex-Hyderabad Lumps, FeM 80%, +/-1 20,800 20,700 20,900 - 100 20,700 20,700
Ingot Ex-Mandi Gobindgarh 3.5 x 4.5 Inch, IS 2830 37,400 37,300 37,500 + 200 36,800 35,450
Ex-Durgapur 3.5 x 4.5 Inch, IS 2830 34,800 34,700 34,900 + 100 34,000 32,900
Ex-Rourkela 3.5 x 4.5 Inch, IS 2830 34,300 34,200 34,300 + 300 33,000 31,600
Ex-Raipur 3.5 x 4.5 Inch, IS 2830 34,900 34,800 35,000 - 100 33,550 32,200
Ex-Mumbai 3.5 x 4.5 Inch, IS 2830 36,100 36,000 36,200 + 300 35,500 34,100
Ex-Chennai 3.5 x 4.5 Inch, IS 2830 36,800 36,700 36,900 + 300 36,000 35,500
Ex-Hyderabad 3.5 x 4.5 Inch, IS 2830 36,000 35,700 36,200 + 300 35,200 34,700
Billet Ex-Mandi Gobindgarh 125x125 mm, IS 2831 38,000 37,800 38,100 0 37,400 36,200
Ex-Durgapur 125x125 mm, IS 2831 35,500 35,400 35,600 + 100 34,500 33,300
Ex-Rourkela 125x125 mm, IS 2831 34,700 34,600 34,800 + 200 33,400 32,600
Ex-Raipur 125x125 mm, IS 2831 35,600 35,500 35,700 - 50 34,400 33,200
Ex-Mumbai 125x125 mm, IS 2831 36,300 36,300 36,400 + 200 35,700 34,300
Ex-Chennai 125x125 mm, IS 2831 37,300 37,000 37,500 + 300 36,500 36,000
Ex-Hyderabad 125x125 mm, IS 2831 36,250 36,000 36,500 + 250 35,500 35,000
TMT Ex-Delhi/NCR 12MM 40,800 40,600 41,000 + 200 40,100 38,800
Ex-Durgapur 12MM 39,800 39,600 39,000 0 39,000 38,000
Ex-Raipur 12MM 39,300 39,100 39,500 0 38,200 37,300
Ex-Mumbai 12MM 40,100 39,700 40,200 0 39,600 37,900
Ex-Chennai 12MM 41,500 41,400 42,000 + 100 41,000 41,000
Ex-Hyderabad 12MM 41,000 40,800 41,200 0 40,000 40,250

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

17 Apr 2018, 18:28 IST

 

 

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