Daily Update: Indian Sponge & Billet Market
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In the week opening, Indian Billet & Sponge iron prices fluctuated by INR 100-300/MT amid fewer trades in domestic market.
As per participants in Eastern India - trade activities in Durgapur are likely to remain on hold for the rest of current week due to festive off in the market. Meanwhile similar trends were reported in Odisha & Gujarat where after couple of days trade activities will be limited due to holidays.
SteelMint's latest price assessment for induction furnaces billet in Indian market stood at INR 32,800-36,400/MT (USD 444-493) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 21,600-22,800/MT (USD 292-309); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
-- On 15th October 2018 (Monday) INR to USD exchange rate stood at INR 73.75.
-- BSE Sensex closed at 34,865(+131) on Monday, as against last day (Friday) at 34,733(+743).
-- NSE Nifty50 index was closed today at 10,512(+40).
Raw Materials
-- JSW procured 0.18 MnT iron ore from Odisha based miners in Sep'18, up two folds on monthly basis as against 0.09 MnT in Aug'18.
-- Imported scrap offers to India for HMS 1&2 (80:20) Dubai origin in containers stood at around USD 340/MT, CFR Nhava Sheva, Offers decline by USD 3/MT W-o-W.
Semi Finished
-- Raipur, Central India based Integrated plants offering Sponge P-DRI at INR 21,100-21,300/MT & Sponge DR CLO grade at INR 23,500-23,700/MT ex-plant
-- In West Bengal - Durgapur, sponge manufacturers have increased offers by INR 300-400/MT D-o-D due to less suppliers; offering P-DRI at INR 21,300-21,400/MT
-- BMM Ispat in South India (Karnataka) has reduced offers for FeM 80 P-DRI by INR 600/MT to INR 20,700-20,800/MT ex-Bellary, an official reported.
-- BIOP Steels in South India has decreased sponge prices by INR 200-300/MT, offering FeM 80 & 82 C-DRI lumps at INR 21,900-22,000/MT & INR 22,400-22,500/MT ex-plant, Karnataka; an official reported.
-- ILC Iron & Steel, a prime grade sponge maker in Karnataka offered FeM 80 P-DRI at INR 21,000/MT ex-plant, an official reported.
-- South India (Telangana) based Cauvery Iron & Steel offers FeM 80 P-DRI & Billet at INR 21,500/MT & INR 34,500/MT. Also offering rebar at INR 35,500/MT (28 mm). All prices are ex-plant & excluding GST.
Finish Long
-- Central India- GK TMT offers reduced by INR 300/MT & offering rebar at INR 39,200/MT (10-25 mm), ex-Raipur & excluding GST.
-- Raipur, Central India based ERW pipe manufacturers decreased prices by INR 300/MT & offers reported at around INR 39,500/MT. Prices are ex-plant & excluding GST.
-- The suppliers in Raipur have maintained trade discount on wire rod and today's discount at INR 1,000-1,200/MT.
-- Central region, Raipur based brand - SPEED TMT unchanged their prices on day basis & offering at INR 35,000/MT (28mm), ex-work & excluding GST.
-- Central region (Raigarh) based Anjani Steels Limited branding Radhe TMT slight increase their price by INR 100/MT on day basis and offer rebar at INR 35,400/MT (28mm), ex-work & excluding GST.
-- Hyderabad (South India) based Pipe manufacturer Mahalakshmi Profiles Pvt. Ltd (MPL) has reduced offers by INR 600/MT for Electric Resistance Welded (ERW) Pipe & latest price stood at INR 42,000/MT ex-plant. (basic & excluding GST).
-- Kalika Steel Alloys in Jalna unchanged their prices d-o-d basis & offering rebar at INR 36,400/MT (28mm) ex-plant & excluding GST.
-- Jalna based rebar manufacturer - SRJ Peety Steels Pvt Ltd branding Shree Om TMT unchanged their rebar prices on day basis & offering at INR 36,000/MT (28mm), ex-work & excluding GST.
-- Jalna based rebar manufacturer Rajuri Steel Pvt Ltd unchanged their prices on day basis & current offering basic rebar at INR 36,000/MT, ex-work & excluding GST.
-- Gujarat based Shreeyam Power & Steel Industries Ltd branding as National TMT decreased their prices by INR 600/MT on day basis and current offering rebar at INR 44,800/MT (20mm) FoR & including GST at 18%.
-- West region based Bhagwati Ferro Metal (P) Ltd offering rebar at INR 35,100/MT (28 mm) for Mumbai, ex-work & excluding GST.
-- South India - Chennai based ARS Trusteel reduced their prices by INR 800/MT on day basis & current offering rebar at INR 42,000/MT (12 mm), ex-plant & excluding GST.
Reference prices as on 15th October 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 26,500 | 26,400 | 26,600 | 0 | 27,600 | 28,900 |
| Ex-Mumbai | HMS(80:20) | 25,500 | 25,400 | 25,600 | 0 | 26,300 | 27,400 | |
| Ex-Chennai | HMS(80:20) | 26,300 | 26,300 | 26,500 | - 200 | 26,600 | 26,000 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 22,700 | 22,600 | 22,800 | + 300 | 22,600 | 24,800 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 21,900 | 21,800 | 22,000 | - 100 | 22,800 | 25,500 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 22,800 | 22,700 | 22,900 | - 100 | 24,000 | 26,700 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 21,600 | 21,500 | 21,800 | - 300 | 22,600 | 24,100 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 21,300 | 21,200 | 21,400 | + 400 | 21,000 | 23,700 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 21,200 | 21,100 | 21,300 | - 200 | 22,700 | 25,200 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 20,800 | 20,700 | 20,900 | - 400 | 22,000 | 23,700 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 21,600 | 21,500 | 21,700 | - 400 | 22,600 | 24,200 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 35,600 | 35,500 | 35,700 | + 100 | 36,900 | 38,100 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 33,600 | 33,500 | 33,700 | + 300 | 33,900 | 36,400 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 32,250 | 32,200 | 32,300 | + 50 | 33,100 | 35,000 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 32,600 | 32,500 | 32,700 | + 200 | 33,600 | 35,300 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 33,800 | 33,700 | 33,900 | - 100 | 34,600 | 36,800 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 35,000 | 34,900 | 35,000 | - 300 | 35,500 | 37,800 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 34,000 | 33,800 | 34,200 | 0 | 36,000 | 37,300 | |
| Billet | Ex-Mandi Gobindgarh | 125x125 mm, IS 2831 | 36,400 | 36,300 | 36,500 | + 100 | 37,800 | 38,600 |
| Ex-Durgapur | 125x125 mm, IS 2831 | 34,000 | 33,900 | 34,100 | + 200 | 34,500 | 36,900 | |
| Ex-Rourkela | 125x125 mm, IS 2831 | 32,800 | 32,700 | 32,900 | 0 | 33,600 | 36,000 | |
| Ex-Raipur | 125x125 mm, IS 2831 | 33,500 | 33,400 | 33,600 | + 100 | 34,500 | 36,400 | |
| Ex-Ahmedabad | 125x125 mm, IS 2831 | 34,200 | 34,100 | 34,300 | - 100 | 35,500 | 37,500 | |
| Ex-Mumbai | 125x125 mm, IS 2831 | 34,000 | 33,900 | 34,000 | - 100 | 34,800 | 37,100 | |
| Ex-Chennai | 125x125 mm, IS 2831 | 35,500 | 35,400 | 35,500 | - 300 | 36,000 | 38,300 | |
| Ex-Hyderabad | 125x125 mm, IS 2831 | 34,300 | 34,000 | 34,500 | 0 | 36,300 | 37,500 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 38,800 | 38,500 | 38,900 | - 200 | 39,000 | 41,000 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 38,800 | 38,600 | 39,000 | 0 | 38,800 | 41,100 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 37,100 | 36,900 | 37,200 | - 100 | 37,900 | 39,500 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 38,300 | 37,900 | 38,400 | 0 | 38,900 | 41,400 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 40,700 | 40,600 | 41,000 | - 100 | 41,400 | 42,600 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 38,000 | 37,800 | 38,200 | + 200 | 39,700 | 41,000 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
