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Daily Update: Indian Sponge & Billet Market

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By
BigMint Bureau
1286 Reads
5 Nov 2018, 17:31 IST
Daily Update: Indian Sponge & Billet Market

Indian spot steel trades was limited today owing to holiday mood in the major markets. As per assessment, the prices of Billet & Sponge iron have slightly gain by INR 100-200/MT, day-on-day.

SteelMint's latest price assessment for induction furnaces billet in Indian market stood at INR 33,000-36,900/MT (USD 452-505) ex-plant.

Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 21,300-23,100/MT (USD 291-316); prices are ex-plant & excluding GST.

Rupee & BSE Sensex

-- On 5th November 2018 (Monday) INR to USD exchange rate stood at INR 73.08.

-- BSE Sensex closed at 34,950(-60) on Monday, as against last day (Friday) at 35,011(+579).

-- NSE Nifty50 index was closed today at 10,528(-24).

Raw Materials

-- SAIL's crude steel production inch down by 6% to 3.70 MnT in Q2FY19 in comparison to 3.94 MnT in Q1FY19.

-- According to the vessel line up data maintained with SteelMint, Indian pellet exports for the month of Oct'18 witnessed a decline of 22% M-o-M to 0.74 MnT, as against 0.95 MnT in Sept'18.

-- According to the latest assessment of Coking coal, spot prices of the Premium HCC are reported at around USD 217.5/MT FoB Australia & USD 232.8/MT CNF India.

-- Imported scrap offers to India for HMS 1&2 (80:20) Dubai origin containers stood at around USD 330/MT, CFR Nhava Sheva

Semi Finished

-- Indian sponge iron export offers have slightly gain over jump in Indian currency against US dollar and better demand. The latest price assessment stood at USD 360-365/MT CFR Chittagong, Bangladesh.

-- RINL has invited a tender for export of 30,000 MT Blooms. And the due date for bid submission is 08 Nov'18 (till 3 pm IST).

-- Private pig iron producers in Durgapur are trading steel grade material at INR 29,300-29,500/MT ex-plant. Similar offers being heard from Jharkhand based producers on FoR Durgapur basis.

-- Rashmi Metaliks in Durgapur has slightly raised sponge prices & reported P-DRI at around INR 22,200/MT.

-- Raipur based Integrated plants have didn't open the prices today, however mid size plant offers stood at INR 21,000-21,200/MT ex plant. The smelters in Raipur being procured Odisha C-DRI at around INR 23,000/MT FoR & excluding GST.

-- Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 22,000/MT & Billet at INR 33,000/MT ex-plant

-- Power supply have resumed ful-fledged by DVC in Durgapur and surrounding industrial. Hence, sponge iron demand boost through the EA or Induction furnaces, this led to price rise.

Rebar (12 mm)

-- Rathi Steels based in North region unchanged their offering at INR 40,100/MT.

-- Raipur based - SPEED TMT unchanged their offering at INR 36,400/MT.

-- GK TMT based in Raipur today's offering at INR 39,300/MT (GST extra, discount upto INR 800/MT).

-- Jalna based SRJ Peety Steels Pvt Ltd (Shree Om) TMT unchanged their offering at INR 36,900/MT

-- South region based - VRKP Steel Industry Pvt Ltd - VRKP tmt unchanged their offering at INR 39,500/MT.

-- Chennai based ARS Steel (Trusteel) unchanged their offering INR 42,100/MT.

Note - The prices mentioned above based on ex-work, excluding GST and changes are placed on day basis.

Reference prices as on 5th November 2018

Particular/Delivery Size, Grade, Origin Prices Min Max Change 1W 1M
Scrap Ex-Alang HMS(80:20) 26,900 26,800 27,000 0 26,500 27,600
Ex-Mumbai HMS(80:20) 25,500 25,300 25,600 0 25,400 26,300
Ex-Chennai HMS(80:20) 26,800 26,600 27,000 0 26,500 26,600
C-DRI Ex-Durgapur Mix, FeM 78%, +/-1 23,300 23,200 23,400 + 300 22,900 22,600
Ex-Rourkela Mix, FeM 80%, +/-1 22,000 22,000 22,100 0 22,000 22,800
Ex-Raipur Mix, FeM 80%, +/-1 22,800 22,700 22,900 + 100 22,800 24,000
Ex-Bellary Lumps, FeM 80%, +/-1 21,500 21,400 21,600 + 200 21,600 22,600
P-DRI Ex-Durgapur Lumps, FeM 78%, +/-1 22,200 22,100 22,300 + 200 21,600 21,000
Ex-Raipur Lumps, FeM 80%, +/-1 21,100 21,000 21,200 0 21,300 22,700
Ex-Bellary Lumps, FeM 80%, +/-1 20,800 20,700 20,900 + 300 20,700 22,000
Ex-Hyderabad Lumps, FeM 80%, +/-1 21,700 21,600 21,700 + 100 21,600 22,600
Ingot Ex-Mandi Gobindgarh 3.5 x 4.5 Inch, IS 2830 36,100 36,000 36,200 + 200 36,100 36,900
Ex-Durgapur 3.5 x 4.5 Inch, IS 2830 33,700 33,600 33,800 + 200 33,900 33,900
Ex-Rourkela 3.5 x 4.5 Inch, IS 2830 32,600 32,500 32,700 + 50 32,800 33,100
Ex-Raipur 3.5 x 4.5 Inch, IS 2830 33,000 32,900 33,100 + 200 32,900 33,600
Ex-Mumbai 3.5 x 4.5 Inch, IS 2830 33,600 33,500 33,700 + 200 33,200 34,600
Ex-Chennai 3.5 x 4.5 Inch, IS 2830 34,500 34,400 34,600 0 35,000 35,500
Ex-Hyderabad 3.5 x 4.5 Inch, IS 2830 33,700 33,600 33,800 0 33,700 36,000
Billet Ex-Mandi Gobindgarh 125x125 mm, IS 2831 36,900 36,800 37,000 + 200 36,900 37,800
Ex-Durgapur 125x125 mm, IS 2831 33,900 33,800 34,000 + 100 34,200 34,500
Ex-Rourkela 125x125 mm, IS 2831 33,000 32,900 33,100 0 33,300 33,600
Ex-Raipur 125x125 mm, IS 2831 33,600 33,500 33,700 + 100 33,800 34,500
Ex-Ahmedabad 125x125 mm, IS 2831 34,600 34,500 34,700 + 100 34,100 35,500
Ex-Mumbai 125x125 mm, IS 2831 33,800 33,700 33,900 + 200 33,400 34,800
Ex-Chennai 125x125 mm, IS 2831 35,000 34,900 35,100 0 35,500 36,000
Ex-Hyderabad 125x125 mm, IS 2831 34,000 33,900 34,100 0 34,000 36,300
TMT Ex-Delhi/NCR 12-25 MM, IS 1786- 500 Fe 38,900 38,700 39,100 0 39,400 39,000
Ex-Durgapur 12-25 MM, IS 1786- 500 Fe 39,500 39,300 39,700 + 200 39,300 38,800
Ex-Raipur 12-25 MM, IS 1786- 500 Fe 36,400 36,200 36,500 0 36,600 37,900
Ex-Mumbai 12-25 MM, IS 1786- 500 Fe 37,200 36,900 37,400 + 200 37,000 38,900
Ex-Chennai 12-25 MM, IS 1786- 500 Fe 39,800 39,600 40,100 0 40,500 41,400
Ex-Hyderabad 12-25 MM, IS 1786- 500 Fe 38,000 37,800 38,200 0 38,100 39,700

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

5 Nov 2018, 17:31 IST

 

 

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