Daily Update: Indian Sponge & Billet Market
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Indian Billet and Sponge iron prices slightly fluctuates by INR 100-200/MT on daily analysis amid no major trade activities in spot market.
SteelMint's latest price assessment for induction furnaces billet in Indian market stood at INR 34,000-38,000/MT (USD 494-553) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 19,100-22,000/MT (USD 277-320); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
-- On 28th June 2018 (Thursday) INR to USD exchange rate stood at INR 68.82
-- BSE Sensex closed at 35,037(-179) on Thursday, as against last day (Wednesday) at 35,217(-272)
Key Updates
-- RP Sao has resumed operations after a gap of 6 years, and registered production at 0.13 MnT in May'18.
-- Iron ore production of state-owned miner, OMC marked a sharp rise of 34% M-o-M to 0.95 MnT in May'18 as against 0.71 MnT in Apr'18
-- Indian billet exporters interest has increased after currency dropped to INR 68.92 per USD on falling crude oil prices in global markets.
-- Vizag Steel has issued an export tender of 25,000 MT basic grade steel making Pig iron for any country other than Nepal. And the tender is due on 5 Jul'18
-- Neo Metaliks in Durgapur - West Bengal has kept offers unaltered and are assessed at INR 29,500/MT ex-plant.
-- Bokaro based Electro Steel, who produces 25,000 tonnes of steel grade material has not offering pig iron due to none availability of material, as per officials. And the last deals reported at around INR 29,700/MT FoR Durgapur.
-- Raipur, Central India based Integrated plants offers unaltered, offering Sponge P-DRI at INR 19,400-19,500/MT & Sponge DR-CLO grade at INR 22,200-22,400/MT ex-plant.
-- Rashmi Metaliks in Durgapur, known as price trend setter, has offered Sponge P-DRI at INR 21,000/MT - Sources.
-- Monnet Ispat sold about 500 MT Sponge fines (Fem 77, B Grade) to local Raipur based plants at INR 19,500/MT ex-plant. The deal made 2-3 days back, officials from Monnet Ispat reported.
-- BMM Ispat in South India (Karnataka) has reduced offers for FeM 80 P-DRI by INR 300/MT to INR 18,400-18,500/MT ex-Bellary. As per a official - offers fall due to rising inventories amid less availability of transport vehicles for Western region.
-- During May 2018, Indian finish long steel production stood at 4.17 MnT, rise 11.5% M-o-M & recorded close to 3 years high .
-- As per sources, presently, SAIL & JSW Steel are offering rebar (12-25 mm) at around INR 43,500/MT(ex-Chennai) for retail segment, whereas JSW steel is offering at around INR 43,000/MT in projects for same size material. Prices are excluding GST 18%.
-- Local manufacturers in Raigarh are offering 60-14 Silico Manganese at around INR 62,000/MT ex-plant.
Reference prices as on 28th June 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Mumbai | HMS(80:20) | 25,200 | 25,100 | 25,300 | - 200 | 25,900 | 27,500 |
| Ex-Chennai | HMS(80:20) | 24,900 | 24,800 | 25,000 | 0 | 25,500 | 26,500 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 22,000 | 21,900 | 22,100 | + 100 | 22,900 | 22,400 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 20,700 | 20,600 | 20,800 | 0 | 20,900 | 21,000 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 21,300 | 21,200 | 21,400 | 0 | 21,600 | 21,700 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,100 | 19,000 | 19,200 | - 100 | 20,300 | 20,400 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 21,000 | 20,900 | 21,100 | + 100 | 21,900 | 20,900 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 19,400 | 19,300 | 19,500 | 0 | 19,500 | 19,700 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 18,400 | 18,300 | 18,500 | - 200 | 19,500 | 19,700 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 19,500 | 19,400 | 19,600 | - 100 | 20,000 | 20,400 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 37,600 | 37,500 | 37,700 | + 50 | 39,200 | 39,300 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 34,500 | 34,400 | 34,600 | + 100 | 36,100 | 36,700 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 33,400 | 33,300 | 33,500 | - 200 | 35,300 | 36,000 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 33,700 | 33,600 | 33,800 | 0 | 34,800 | 36,150 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 34,300 | 34,200 | 34,400 | - 200 | 36,200 | 37,000 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 34,200 | 34,100 | 34,300 | - 100 | 34,700 | 36,000 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 33,700 | 33,600 | 33,800 | 0 | 34,700 | 35,700 | |
| Billet | Ex-Mandi Gobindgarh | 125x125 mm, IS 2831 | 38,000 | 37,900 | 38,200 | 0 | 39,600 | 40,100 |
| Ex-Durgapur | 125x125 mm, IS 2831 | 34,900 | 34,800 | 35,000 | + 100 | 36,500 | 37,300 | |
| Ex-Rourkela | 125x125 mm, IS 2831 | 34,000 | 33,900 | 34,100 | 0 | 35,700 | 36,400 | |
| Ex-Raipur | 125x125 mm, IS 2831 | 34,700 | 34,600 | 34,800 | 0 | 35,900 | 37,250 | |
| Ex-Mumbai | 125x125 mm, IS 2831 | 34,500 | 34,400 | 34,600 | - 200 | 36,400 | 37,300 | |
| Ex-Chennai | 125x125 mm, IS 2831 | 34,700 | 34,600 | 34,800 | - 100 | 35,200 | 36,500 | |
| Ex-Hyderabad | 125x125 mm, IS 2831 | 34,000 | 33,900 | 34,100 | 0 | 35,000 | 36,000 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 41,900 | 41,700 | 42,100 | - 300 | 44,100 | 44,300 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 39,800 | 39,600 | 40,000 | + 200 | 41,300 | 41,800 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 39,300 | 39,100 | 39,500 | - 100 | 40,300 | 41,700 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 38,400 | 38,000 | 38,500 | 0 | 39,900 | 40,700 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 39,800 | 39,600 | 40,000 | - 200 | 40,400 | 40,800 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 39,000 | 38,800 | 39,200 | 0 | 39,500 | 40,500 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
