Daily Update: Indian Sponge & Billet Market
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Indian Semis market remains volatile on day trade activities and the price fluctuation have seen by INR 100-300/MT in both Sponge iron & Billets.
SteelMint's latest price assessment for induction furnaces billet in Indian market stood at INR 34,600-38,000/MT (USD 511-562) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 19,800-21,900/MT (USD 293-324); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
-- On 14th May 2018 (Monday) INR to USD exchange rate stood at INR 67.58
-- BSE Sensex closed at 35,556(+20) on Monday, as against last day (Friday) at 35,535(+289).
Raw materials
-- According to SteelMint Data, Indian iron ore imports remained close to 1 MnT in May 2018
Semi finished
-- Neelachal Ispat (NINL) has recorded its highest ever hot metal production on a single day. And produced 3,001 MT of hot metal on 13th May 2018.
-- Raipur, Central India based Integrated plants offer unaltered, offering Sponge P-DRI at INR 19,600-19,700/MT & Sponge DR CLO grade at INR 22,800-23,000/MT ex-plant
-- Durgapur based Neo Metaliks has reported latest offers for steel grade Pig iron at around INR 31,300/MT against last trading at INR 31,500/MT ex-plant. Foundry grade pig iron offers being reported by the producer at INR 33,800/MT, ex-plant.
-- Ludhiana, North India based trade participants reported steel & foundry grade pig iron offers at INR 31,500/MT & INR 34,500/MT on FoR basis & excluding 18% GST.
-- Rashmi Metaliks in Durgapur has offered Sponge P-DRI at INR 20,200/MT & Billets at INR 35,400/MT, sources reported.
-- Raigarh based Singhal Steel offered P-DRI at INR 18,800/MT ex- plant, an official reported. Also, the company is offering Billets at INR 35,200/MT FoR Raipur.
-- Odisha based manufacturers, Mahavir Ferro Alloys offered Billet at INR 34,500/MT ex-plant. As per officials, trade activities average at the offer prices.
-- BMM Ispat in South India (Karnataka) has increased offers for FeM 80 P-DRI by INR 100-200/MT to INR 18,800/MT ex-Bellary, an official reported.
-- Apple Industries in Bellary (Karnataka) offered Sponge FeM 85+ C-DRI lump at INR 21,500/MT & Billet at INR 35,000/MT ex-plant. Majorly deals concluded for Bangalore & Chennai, an official reported.
Finish long
-- Jalna based rebar manufacturer - SRJ Peety Steels Pvt Ltd branding Shree Om TMT unchanged their offers and offering basic rebar at INR 38,600/MT, ex-work & excluding GST.
-- Rathi Steels in North India - Delhi have decreased their prices by around INR 250/MT d-o-d basis and current offering at INR 41,800/MT, size - 12 mm & excluding 18% GST.
-- South India - Chennai based ARS Trusteel offering for Rebar 12 MM at INR 43,700/MT & Billet at INR 37,000/MT ex-plant & excluding GST.
-- East Region based - Shakambari Ispat & Power Ltd has offered Wire Rod 5.5 mm at INR 40,400/MT, ex-work, excluding GST.
Reference prices as on 14th May 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Chennai | HMS(80:20) | 26,700 | 26,600 | 26,800 | 0 | 26,500 | 26,100 |
| Ex-Mumbai | HMS(80:20) | 27,200 | 27,100 | 27,300 | + 50 | 26,900 | 26,200 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 21,500 | 21,400 | 21,600 | + 100 | 22,700 | 21,100 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 20,700 | 20,600 | 20,800 | - 200 | 21,100 | 20,900 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 21,900 | 31,800 | 22,000 | 0 | 22,100 | 22,100 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,800 | 19,600 | 20,000 | 0 | 19,700 | 20,500 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 20,200 | 20,100 | 20,300 | 0 | 21,300 | 19,700 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 19,700 | 19,600 | 19,800 | + 50 | 20,050 | 20,200 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 18,800 | 18,600 | 19,000 | 0 | 18,800 | 19,800 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 19,200 | 19,100 | 19,300 | 0 | 19,200 | 20,900 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 37,300 | 37,200 | 37,400 | + 100 | 38,250 | 37,200 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 34,900 | 34,800 | 35,000 | + 100 | 36,000 | 34,700 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 33,800 | 33,700 | 33,900 | - 200 | 34,700 | 34,000 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 34,100 | 34,000 | 34,200 | + 50 | 34,400 | 35,000 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 35,900 | 35,800 | 36,000 | + 100 | 36,000 | 35,800 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 36,500 | 36,400 | 36,600 | 0 | 36,500 | 36,500 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 34,700 | 34,600 | 34,800 | 0 | 35,700 | 35,700 | |
| Billet | Ex-Mandi Gobindgarh | 125x125 mm, IS 2831 | 38,000 | 37,900 | 38,100 | + 100 | 39,000 | 38,000 |
| Ex-Durgapur | 125x125 mm, IS 2831 | 35,350 | 35,300 | 35,400 | + 50 | 36,500 | 35,400 | |
| Ex-Rourkela | 125x125 mm, IS 2831 | 34,600 | 34,500 | 34,700 | - 300 | 35,500 | 34,500 | |
| Ex-Raipur | 125x125 mm, IS 2831 | 35,200 | 35,100 | 35,300 | + 100 | 35,500 | 35,650 | |
| Ex-Mumbai | 125x125 mm, IS 2831 | 36,600 | 36,500 | 36,700 | + 50 | 36,600 | 36,100 | |
| Ex-Chennai | 125x125 mm, IS 2831 | 37,000 | 36,900 | 37,100 | 0 | 37,000 | 37,000 | |
| Ex-Hyderabad | 125x125 mm, IS 2831 | 35,000 | 34,900 | 35,100 | 0 | 36,000 | 36,000 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 415/500 Fe | 40,800 | 40,600 | 41,000 | - 300 | 41,900 | 40,600 |
| Ex-Durgapur | 12-25 MM, IS 1786- 415/500 Fe | 40,100 | 39,900 | 40,300 | - 300 | 41,100 | 39,800 | |
| Ex-Raipur | 12-25 MM, IS 1786- 415/500 Fe | 39,200 | 39,000 | 39,400 | 0 | 39,400 | 39,300 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 415/500 Fe | 40,700 | 40,300 | 40,800 | 0 | 40,400 | 40,100 | |
| Ex-Chennai | 12-25 MM, IS 1786- 415/500 Fe | 41,500 | 41,300 | 41,700 | 0 | 41,400 | 41,400 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 415/500 Fe | 39,500 | 39,300 | 39,700 | 0 | 40,500 | 41,000 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
