Daily Update: Indian Sponge & Billet Market
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Indian Semis prices remain slightly change on day trade activities owing to subdued demand. The Billet manufacturers in major markets have reduced prices by INR 100-300/MT, however in Western region it slightly gain by INR 100-200/MT.
In context to Sponge iron, the prices more or less firm as per daily assessment.
SteelMint's latest price assessment for induction furnaces billet in Indian market stood at INR 32,700-36,600/MT (USD 452-506) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 21,700-23,500/MT (USD 300-325); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
-- On 14th November 2018 (Wednesday) INR to USD exchange rate stood at INR 72.26.
-- BSE Sensex closed at 35,141(-2) on Wednesday, as against last day (Tuesday) at 35,144(+331).
-- NSE Nifty50 index was closed today at 10,576(-6).
Raw Materials
-- JSPL-Angul unit production continues to ramp as production levels reached more than 9000 MT/day. The company is also planning to increase production up to 10,000 MT/day in 3Q FY19.
-- Jindal Shadeed recorded crude steel production at 0.38 MnT in Q2 FY19 (as against 0.43 MT in Q2FY18); fall by 12% on Y-o-Y & Q-o-Q basis. The production fall due to annual maintenance shutdown during Sept'18. The re-bar mill at Oman achieved production at 0.23 MnT in Q2 FY19.
-- Tata Steel's crude steel output went up by 3% on quarterly basis to 3.26 MnT in Q2 FY19 as compared to 3.18 MnT in previous quarter.
-- JSW Steel's iron ore purchases from Karnataka e-auctions stood at 0.72 MnT in Oct'18, down 45% M-o-M compared to 1.30 MnT in Sep'18.
-- East India based a pellet maker has recently received bids for regular grade pellets (Fe 64%) with 3% Alumina around USD 120-121/MT, CFR China in a recent floated export tender.
-- The latest offers for Silico Manganese (60-14) assessed at around INR 69,000/MT ex-Raigarh & INR 69,500-70,000/MT ex-Raipur.
Semi Finished
-- SAIL has offered Steel (basic) grade Pig iron from its Bhilai Steel Plant (BSP), Central India at INR 30,000/MT (USD 416) ex-plant & excluding GST.
-- Jindal Steel offering Granulated pig iron (panther shots) at INR 28,000/MT ex-plant, Odisha & Steel grade Pig iron at INR 30,000/MT ex-plant, Raigarh.
-- Neo Metaliks in Durgapur has slightly lower Steel grade pig iron offers to INR 29,500/MT ex-plant. However in same place deals through the other private producers assessed at INR 29,200-29,300/MT ex-plant.
-- As per suppliers in Durgapur, Eastern India no major deals for export to Nepal and the latest quote reported at around USD 465/MT for Billet & USD 545-550/MT for Wire rod (ex-works).
-- Indian sponge iron export offers to Bangladesh for lumps of grade FeM 78-80, stand at USD 345/MT CPT Benapole (dry land port of Bangladesh & India) & USD 365/MT CFR Chittagong, Bangladesh.
-- Raipur, Central India based Integrated plants have rolled over Sponge P-DRI prices to INR 21,000-21,100/MT ex-plant.
-- Raigarh based Singhal Steel offered P-DRI at INR 20,500/MT ex-Raigarh & Billet at INR 33,500/MT FoR Raipur.
-- BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 21,000/MT ex-Bellary.
-- 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 36,000/MT (28 mm). All prices are ex-plant & excluding GST.
Wire rod & Pipe
-- Blast Furnace grade Wire rod offers hovering at INR 43,000/MT ex-works, Central India & INR 45,000/MT ex-works in Eastern region.
-- Raipur (Central India) & Mandi Gobindgarh (North India) based pipe manufacturers have kept offers at firm and reported ERW pipe at INR 39,600-39,800/MT & INR 43,300/MT respectively, (ex-plant).
-- Raipur based wire rod suppliers have maintained trade discount and today's discount at around INR 800-1,100/MT.
Reference prices as on 14th November 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 27,500 | 27,400 | 27,600 | 0 | 27,100 | 27,100 |
| Ex-Mumbai | HMS(80:20) | 26,200 | 26,100 | 26,300 | + 300 | 25,700 | 25,500 | |
| Ex-Chennai | HMS(80:20) | 26,800 | 26,700 | 27,000 | 0 | NA | 26,100 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 23,500 | 23,400 | 23,600 | 0 | 23,400 | NA |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 22,000 | 21,900 | 22,000 | 0 | 22,200 | 22,200 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 22,800 | 22,700 | 22,900 | 0 | 22,900 | 23,200 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 21,700 | 21,600 | 21,800 | 0 | 21,600 | 21,800 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 22,400 | 22,300 | 22,500 | 0 | 22,300 | NA |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 21,000 | 20,900 | 21,100 | 0 | 21,100 | 21,700 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 21,000 | 20,900 | 21,100 | 0 | 20,800 | 21,000 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 21,500 | 21,400 | 21,600 | - 200 | 21,700 | 21,800 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 35,800 | 35,700 | 35,900 | - 200 | 36,300 | 36,500 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 33,400 | 33,300 | 33,500 | 0 | 33,800 | NA | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 32,300 | 32,200 | 32,400 | - 100 | 32,800 | 32,900 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 32,700 | 32,600 | 32,800 | - 100 | 33,100 | 33,500 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 34,100 | 34,100 | 34,200 | + 100 | 33,800 | 34,000 | |
| Billet | Ex-Mandi Gobindgarh | 125x125 mm, IS 2831 | 36,600 | 36,500 | 36,700 | - 200 | 37,100 | 37,300 |
| Ex-Durgapur | 125x125 mm, IS 2831 | 33,700 | 33,600 | 33,800 | - 100 | 34,000 | NA | |
| Ex-Rourkela | 125x125 mm, IS 2831 | 32,800 | 32,700 | 32,800 | - 100 | 33,200 | 33,500 | |
| Ex-Raipur | 125x125 mm, IS 2831 | 33,300 | 33,200 | 33,400 | - 100 | 33,700 | 34,450 | |
| Ex-Ahmedabad | 125x125 mm, IS 2831 | 34,650 | 34,600 | 34,700 | + 150 | 34,600 | 35,000 | |
| Ex-Mumbai | 125x125 mm, IS 2831 | 34,300 | 34,300 | 34,400 | 0 | 34,100 | 34,200 | |
| Ex-Chennai | 125x125 mm, IS 2831 | 35,100 | 35,000 | 35,200 | - 100 | 35,000 | 35,800 | |
| Ex-Hyderabad | 125x125 mm, IS 2831 | 34,500 | 34,400 | 34,600 | - 300 | 34,500 | 35,200 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 39,100 | 38,900 | 39,300 | - 300 | 39,100 | 39,400 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 39,000 | 38,800 | 39,200 | 0 | 39,500 | NA | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 36,400 | 36,300 | 36,500 | - 200 | 36,400 | 37,500 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 37,900 | 37,600 | 38,100 | 0 | 37,600 | 38,300 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 39,500 | 39,300 | 39,700 | - 200 | NA | 40,800 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 38,500 | 38,300 | 38,700 | - 200 | 38,500 | 38,800 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
