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Daily Update: Indian Sponge & Billet Market

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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

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-- 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