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Daily Update: Indian Sponge & Billet Market

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13 Dec 2018, 18:39 IST
Daily Update: Indian Sponge & Billet Market

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

SteelMint's latest price assessment for induction furnaces billet in Indian market stood at INR 30,200-34,100/MT (USD 421-476) ex-plant.

Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 20,200-21,400/MT (USD 282-299); prices are ex-plant & excluding GST.

Rupee & BSE Sensex

-- On 13th December 2018 (Thursday) INR to USD exchange rate stood at INR 71.58.

-- ICEX (Indian Commodity Exchange Ltd) Jan'19 contract for STEELLONG today open at INR 33,780/MT & last traded (IST 18:37) at INR 33,780/MT.

-- BSE Sensex closed at 35,929(+150) on Thursday, as against last day (Wednesday) at 35,779(+629).

-- NSE Nifty50 index was closed today at 10,791(+53).

Raw Materials

-- NMDC has announced a second price cut of about 10% in the price of mineral for the month of December- sources.

-- IDCOL has issued tender for sale of around 11,400 MT iron ore from its Roida 'C' iron and manganese mines, Keonjhar (Odisha). The due date for bid submission is 20 Dec'18.

-- Bhushan Steel - a major integrated steel maker has recorded iron ore sourcing at 0.39 MnT in Nov'18, down by 8% M-o-M as against 0.42 MnT in Oct'18.

-- Imported scrap offers to India for HMS 1&2 (80:20) Dubai origin containers stood at around USD 325-330/MT, CFR Nhava Sheva

-- According to the latest assessment of Coking coal, spot prices of the Premium HCC are reported at around USD 226/MT FoB Australia & USD 238.8/MT CNF India.

Semi Finished

-- Steel Authority of India - a government of India Company has floated the export tender for 16,200 MT billets from its IISCO Steel Plant. The due date for bid submission is 15:00 hrs as per IST on 15 Dec'18.

-- Ludhiana, North India based trade participants reported steel & foundry grade pig iron offers at INR 31,100/MT & INR 33,000/MT on FoR basis & excluding 18% GST.

-- Raipur, Central India based Integrated plants offering Sponge P-DRI at INR 19,800-19,900/MT & Sponge DR CLO grade at INR 22,300-22,500/MT ex-plant

-- Raigarh based Singhal Steel offered P-DRI at INR 19,000/MT ex-Raigarh, an official reported. Also, the company offered Billets at INR 30,700/MT FoR Raipur. As per officials, trade activities are weak at the offer prices.

-- In West Bengal - Durgapur, big manufacturers have increased sponge prices by INR 100-200/MT D-o-D; offering P-DRI at INR 19,000-19,200/MT.

-- Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 20,400/MT & Billet at INR 30,000/MT ex-plant.

-- BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 19,700-19,800/MT ex-Bellary, offers decline by INR 400-500/MT from the last trade; an official reported.

-- BIOP Steels in South India has decreased sponge prices by INR 300/MT, offering FeM 80 & 82 C-DRI lumps at INR 20,300/MT & INR 20,700/MT ex-plant, Karnataka; an official reported.

-- Apple Industries in Bellary (Karnataka) offered Sponge FeM 83+ P-DRI lump at INR 21,000/MT & Billet at INR 32,500/MT ex-plant.

-- South India (Telangana) based Cauvery Iron & Steel offers FeM 80 P-DRI & Billet at INR 20,500-20,600/MT & INR 32,000/MT. Also offering 28 MM Rebar at INR 34,500/MT. All prices are ex-plant & excluding GST.

Finished Long

-- Raipur based wire rod manufacturers kept offers unchanged and trade discount through the manufacturers/suppliers almost similar at around INR 800-1,000/MT. The offers for 5.5 mm wire rod is hovering around INR 37,800/MT ex-Raipur & INR 36,800-37000/MT ex-Durgapur

-- Mandi Gobindgarh, North India based ERW pipe manufacturers reduced prices by INR 200/MT & offers reported at around INR 40,300/MT ex-plant & excluding GST.

-- Hyderabad (South India) based Pipe manufacturer Hari Om Pipe Industries Ltd has offered ERW Pipe at around INR 40,000/MT ex-plant. (basic & excluding GST).

-- Chennai based ARS Steel (Trusteel) kept TMT (12 mm) offers unchanged to INR 40,000/MT. Ex-work and excluding GST

-- Mumbai based Guardian TMT (12 mm) offering at INR 36,000/MT, up by INR 300/MT. Prices are ex-work and excluding GST

Reference prices as on 13th December 2018

Particular/Delivery Size, Grade, Origin Prices Min Max Change 1W 1M
Scrap Ex-Alang HMS(80:20) 26,200 26,100 26,300 0 26,800 27,300
Ex-Mumbai HMS(80:20) 26,000 26,000 26,200 0 26,200 26,300
Ex-Chennai HMS(80:20) 24,900 24,800 25,000 0 24,900 26,800
C-DRI Ex-Durgapur Mix, FeM 78%, +/-1 20,200 20,100 20,300 - 50 21,600 23,200
Ex-Rourkela Mix, FeM 80%, +/-1 20,400 20,300 20,500 0 20,800 21,900
Ex-Raipur Mix, FeM 80%, +/-1 21,400 21,300 21,500 - 200 21,900 22,700
Ex-Bellary Lumps, FeM 80%, +/-1 20,400 20,300 20,500 - 100 20,800 21,600
P-DRI Ex-Durgapur Lumps, FeM 78%, +/-1 19,150 19,100 19,200 - 100 20,600 22,200
Ex-Raipur Lumps, FeM 80%, +/-1 19,900 19,800 19,900 - 100 20,500 20,900
Ex-Bellary Lumps, FeM 80%, +/-1 19,800 19,700 19,900 - 200 20,200 20,900
Ex-Hyderabad Lumps, FeM 80%, +/-1 20,600 20,500 20,700 - 100 20,800 21,500
Ingot Ex-Mandi Gobindgarh 3.5 x 4.5 Inch, IS 2830 33,800 33,700 33,900 + 100 34,900 35,950
Ex-Durgapur 3.5 x 4.5 Inch, IS 2830 30,100 30,000 30,200 - 200 31,500 33,300
Ex-Rourkela 3.5 x 4.5 Inch, IS 2830 29,800 29,700 29,900 - 100 30,700 32,400
Ex-Raipur 3.5 x 4.5 Inch, IS 2830 30,200 30,100 30,300 + 200 31,250 32,650
Ex-Mumbai 3.5 x 4.5 Inch, IS 2830 32,500 32,400 32,600 + 100 33,400 33,800
Billet Ex-Mandi Gobindgarh 125x125 mm, IS 2831 34,100 34,000 34,200 + 100 35,200 36,750
Ex-Durgapur 125x125 mm, IS 2831 30,600 30,500 30,700 - 200 31,900 33,600
Ex-Rourkela 125x125 mm, IS 2831 30,200 30,100 30,200 - 50 31,000 32,900
Ex-Raipur 125x125 mm, IS 2831 30,800 30,700 30,900 + 50 31,900 33,250
Ex-Ahmedabad 125x125 mm, IS 2831 33,100 33,000 33,200 0 33,900 34,750
Ex-Mumbai 125x125 mm, IS 2831 32,900 32,800 32,900 + 300 33,600 34,100
Ex-Chennai 125x125 mm, IS 2831 33,500 33,400 33,600 0 33,500 35,000
Ex-Hyderabad 125x125 mm, IS 2831 32,000 31,900 32,100 - 300 33,000 34,500
TMT Ex-Delhi/NCR 12-25 MM, IS 1786- 500 Fe 37,200 37,000 37,500 0 37,800 38,900
Ex-Durgapur 12-25 MM, IS 1786- 500 Fe 36,200 36,000 36,500 - 100 37,100 39,000
Ex-Raipur 12-25 MM, IS 1786- 500 Fe 34,800 34,600 35,000 - 100 35,500 36,400
Ex-Mumbai 12-25 MM, IS 1786- 500 Fe 36,000 35,900 36,100 + 100 36,600 37,700
Ex-Chennai 12-25 MM, IS 1786- 500 Fe 37,700 37,500 38,000 0 37,700 39,400
Ex-Hyderabad 12-25 MM, IS 1786- 500 Fe 36,800 36,500 37,000 + 100 37,500 38,500
Wire Rod Ex-Durgapur Wire Rod(5.5 MM) 37,000 36,800 37,200 - 200 38,200 39,700
Ex-Raipur Wire Rod(5.5 MM) 37,800 36,800 37,800 - 500 38,800 40,200

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

13 Dec 2018, 18:39 IST

 

 

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