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Daily Update: Indian Sponge & Billet Market

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Semi Finished
By
BigMint Bureau
1042 Reads
19 Nov 2018, 18:31 IST
Daily Update: Indian Sponge & Billet Market

Indian spot steel trades observed dull amid limited inquiries with the producers. However, despite fewer trades the prices of Billet have marginally fluctuates by INR 100-300/MT D-o-D, while Sponge iron offers fall slightly.

SteelMint's latest price assessment for induction furnaces billet in Indian market stood at INR 32,400-36,500/MT (USD 452-510) ex-plant.

Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 21,400-22,900/MT (USD 298-320); prices are ex-plant & excluding GST.

Rupee & BSE Sensex

-- On 19th November 2018 (Monday) INR to USD exchange rate stood at INR 71.64

-- BSE Sensex closed at 35,774(+317) on Monday, as against last day (Friday) at 35,457(+196).

-- NSE Nifty50 index was closed today at 10,763(+81).

Raw Materials

-- Bhushan Steel's iron ore sourcing from Rungta mines recorded at 0.12 MnT in Oct'18, up 87% on monthly basis as against 0.06 MnT in Sep'18.

-- Imported scrap offers to India for HMS 1&2 (80:20) Dubai origin containers stood at around USD 330/MT, CFR Nhava Sheva, Offers decline by USD 5/MT W-o-W

-- According to the latest assessment of Coking coal, spot prices of the Premium HCC are reported at around USD 223/MT FoB Australia & USD 236/MT CNF India.

Semi Finished

-- RSP (Rourkela Steel Plant) tender held today ( 19th Nov'18) to sell about 6,000 MT steel grade pig iron have received good response. The base price of the tender was at INR 28,700/MT and the total quantity have been sold out at INR 28,850-28,900//MT (Ex-plant).

-- Neo Metaliks in Durgapur has maintained Pig iron prices despite no major trades and reported Steel grade at INR 29,500/MT ex-plant.

-- Atibir Industries in Jharkhand has concluded few bulk deals of Steel grade Pig iron at INR 29,000/MT ex-plant -Sources.

-- Raipur, Central India based Integrated plants offering Sponge P-DRI at INR 20,700-20,900/MT & Sponge DR CLO grade at INR 23,000-23,100/MT ex-plant

-- As per sources, Rashmi Metaliks in Durgapur has maintained offers & prices for Sponge P-DRI reported at around INR 22,000/MT.

-- Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 21,800/MT & Billet at INR 32,800/MT ex-plant. As per officials, trade activities are weak at the offer prices.

-- Hare Krishna, a 300 TPD sponge manufacturer in Bellary, Karnataka has offered FeM 80 P-DRI at INR 20,500/MT ex-plant, an official reported.

-- Apple Industries in Bellary (Karnataka) offered Sponge FeM 83+ P-DRI lump at INR 22,000/MT & Billet at INR 33,500/MT ex-plant.

Wire rod & Pipe

-- Raipur based wire rod suppliers kept trade discount unaltered and today's discount at around INR 900-1,100/MT.

-- Mandi Gobindgarh, North India based ERW pipe manufacturers decreased prices by INR 300/MT & offers reported at around INR 42,800/MT ex-plant & excluding GST.

-- Hyderabad (South India) based Pipe manufacturer Mahalakshmi Profiles Pvt. Ltd (MPL) has kept offers unaltered for ERW Pipe at INR 42,000/MT ex-plant. (basic & excluding GST).

Rebar (12 mm)

-- Raipur based - SPEED TMT unchanged their offering at INR 36,200/MT.

-- Gujarat based Shreeyam Power & Steel Industries Ltd (National TMT) unchanged their offering at INR 37,700/MT FoR.

-- Jalna based SRJ Peety Steels Pvt Ltd (Shree Om) TMT offering at INR 37,100/MT; down by INR 200/MT.

-- Chennai based ARS Steel (Trusteel) offering at INR 41,800/MT; down by INR 300/MT.

-- South region based Prakash Ferrous Ind. Pvt. Ltd (Tirumala) unchanged their offering at INR 41,000/MT.

-- East region based - Baba Smelter Pvt. Ltd offering Structure (125,150 Channel) at INR 39,750/MT, down by INR 250/MT.

Note - Rebar (12 mm) prices mentioned above based on ex-work and excluding GST and changes are placed on day basis.

Reference prices as on 19th November 2018

Particular/Delivery Size, Grade, Origin Prices Min Max Change 1W 1M
Scrap Ex-Alang HMS(80:20) 27,200 27,100 27,300 + 100 27,700 27,400
Ex-Mumbai HMS(80:20) 26,500 26,400 26,600 + 200 25,700 25,500
Ex-Chennai HMS(80:20) 26,800 26,600 27,000 0 26,800 26,000
C-DRI Ex-Durgapur Mix, FeM 78%, +/-1 22,900 22,800 23,000 0 23,600 23,600
Ex-Rourkela Mix, FeM 80%, +/-1 21,700 21,700 21,800 0 22,200 22,600
Ex-Raipur Mix, FeM 80%, +/-1 22,300 22,200 22,400 - 100 22,900 23,500
Ex-Bellary Lumps, FeM 80%, +/-1 21,400 21,300 21,500 0 21,800 22,200
P-DRI Ex-Durgapur Lumps, FeM 78%, +/-1 21,900 21,800 22,000 0 22,400 22,100
Ex-Raipur Lumps, FeM 80%, +/-1 20,800 20,700 20,900 0 21,150 21,900
Ex-Bellary Lumps, FeM 80%, +/-1 20,500 20,400 20,600 - 100 21,100 21,200
Ex-Hyderabad Lumps, FeM 80%, +/-1 21,200 21,100 21,300 - 100 21,800 22,000
Ingot Ex-Mandi Gobindgarh 3.5 x 4.5 Inch, IS 2830 35,700 35,600 35,800 + 100 36,000 37,100
Ex-Durgapur 3.5 x 4.5 Inch, IS 2830 33,000 32,900 33,100 0 33,600 34,500
Ex-Rourkela 3.5 x 4.5 Inch, IS 2830 32,000 32,000 32,100 - 100 32,500 33,500
Ex-Raipur 3.5 x 4.5 Inch, IS 2830 32,400 32,300 32,500 - 50 33,000 34,000
Ex-Mumbai 3.5 x 4.5 Inch, IS 2830 33,600 33,500 33,600 0 34,300 33,800
Billet Ex-Mandi Gobindgarh 125x125 mm, IS 2831 36,500 36,400 36,600 + 100 36,800 37,900
Ex-Durgapur 125x125 mm, IS 2831 33,400 33,300 33,500 0 33,900 35,000
Ex-Rourkela 125x125 mm, IS 2831 32,500 32,400 32,600 - 100 33,100 34,000
Ex-Raipur 125x125 mm, IS 2831 32,950 32,900 33,000 - 100 33,600 34,900
Ex-Ahmedabad 125x125 mm, IS 2831 34,600 34,500 34,700 + 200 34,900 35,000
Ex-Mumbai 125x125 mm, IS 2831 33,900 33,800 33,900 0 34,600 34,000
Ex-Chennai 125x125 mm, IS 2831 34,700 34,600 34,800 - 300 35,300 35,800
Ex-Hyderabad 125x125 mm, IS 2831 34,000 33,900 34,100 0 35,000 34,700
TMT Ex-Delhi/NCR 12-25 MM, IS 1786- 500 Fe 38,300 38,200 38,500 - 200 39,400 40,200
Ex-Durgapur 12-25 MM, IS 1786- 500 Fe 38,800 38,600 39,000 0 39,300 39,700
Ex-Raipur 12-25 MM, IS 1786- 500 Fe 36,100 36,000 36,200 - 100 36,600 37,800
Ex-Mumbai 12-25 MM, IS 1786- 500 Fe 37,100 36,900 37,300 - 200 37,900 37,800
Ex-Chennai 12-25 MM, IS 1786- 500 Fe 39,300 39,100 39,500 - 100 40,000 40,600
Ex-Hyderabad 12-25 MM, IS 1786- 500 Fe 38,000 37,800 38,200 0 39,000 38,500
Wire Rod Ex-Durgapur Wire Rod(5.5 MM) 39,400 39,200 39,600 0 40,000 40,700
Ex-Raipur Wire Rod(5.5 MM) 39,600 38,900 39,600 0 40,400 41,000

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

19 Nov 2018, 18:31 IST

 

 

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