Daily Update: Indian Sponge & Billet Market
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In the week opening, domestic Sponge & Billet market observed price rise of INR 100-500/MT D-o-D. The major price rise reported in Central region - Raipur by INR 400-500/MT with strong trade activities.
As per SteelMint's assessment on 16th Oct'17, the prices for FeM 78-80 C-DRI sponge are reported at INR 15,300-16,800/MT (USD 236-260). While, induction furnaces billet (size 125x125 mm) are at INR 25,500-27,500/MT (USD 394-425) ex-works. All prices are ex-works & excluding of GST at 18%.
Today (Monday, October 16, 2017) INR to USD exchange rate stood at INR 64.72 & BSE Sensex closed at 32,633 (+200).
Trade Updates:
1. According to recent notification released by ministry of steel, Indian government has brought three more steel products under quality control order, which includes High-carbon steel wire rod, Galvanised pre-coated sheets and Zinc-aluminium pre-coated sheets
2. NMDC pellet auction fetches weak response, As per the sources, only 800 MT pellets were sold at base price of INR 5,461/MT.
3. India's fresh export offers for C-DRI lumps with Sulphur 0.03-0.05%, Phosphorus 0.05-0.07 & carbon max at 0.11-0.12% are reported at USD 310-315/MT CPT Benapole port, Bangladesh.
4. Raipur based Integrated plants have increased sponge prices by INR 300-400/MT D-o-D, P-DRI offers are at INR 15,300-15,400/MT & DR-CLO at INR 17,500-17,800/MT ex-plant and excluding of GST at 18%.
5. Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 15,800/MT & billet at INR 25,500/MT ex-plant.
6. Last Saturday, Singhal Steel sold P-DRI at INR 15,000-15,100/MT FoR Raipur, an official reported. Also added few deals of billet concluded for Raipur at 25,700/MT FoR.
7. Sunvik Steels in Karnataka has kept sponge prices unaltered; offering FeM 80 & 82 C-DRI at INR 16,700/MT and INR 17,100/MT, respectively. Also offering 8mm TMT at INR 40,200/MT ( incl. of 18% GST). All prices are ex-works
8. Indian billet export prices have corrected by USD 5-10/MT W-o-W, Induction furnace grade billet offers are assessed at around USD 465-470/MT FOB India for 150*150 mm for 5SP grade.
9. Raipur, Central India based Medium & Small mills raised structure prices for both light & heavy by INR 200-400/MT, D-o-D.
10. GK TMT based in Central India - Raipur had increase offers and the fresh offers for 12 mm rebars are reported around INR 30,200/MT ex-plant & excluding GST
11. Raipur based manufacturers sold billet to North region- Punjab at around INR 25,900/MT ex-plant; freight at INR 2,500/MT
Reference prices as on 16 October 2017
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 17,200 | 17,100 | 17,300 | + 350 | 17,050 | 17,550 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 15,750 | 15,700 | 15,800 | + 50 | 15,800 | 17,200 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 16,800 | 16,700 | 16,900 | + 300 | 16,500 | 18,000 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 16,400 | 16,300 | 16,500 | + 100 | 16,300 | 17,300 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 16,700 | 16,600 | 16,700 | + 100 | 16,700 | 17,600 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 16,400 | 16,300 | 16,500 | + 350 | 16,200 | 16,650 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 15,300 | 15,300 | 15,400 | + 450 | 15,000 | 16,700 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 16,150 | 16,100 | 16,200 | + 50 | 16,100 | 16,900 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 16,700 | 16,500 | 16,700 | 0 | 16,700 | 17,600 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 28,300 | 28,200 | 28,400 | 0 | 28,200 | 28,900 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 26,000 | 25,900 | 26,100 | + 200 | 25,800 | 26,250 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 25,250 | 25,200 | 25,300 | + 250 | 25,200 | 25,900 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 25,500 | 25,400 | 25,600 | + 500 | 25,600 | 26,700 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 26,200 | 26,100 | 26,300 | 0 | 25,750 | 27,000 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 27,000 | 26,750 | 27,250 | 0 | 27,000 | 27,750 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 26,500 | 26,500 | 26,500 | + 250 | 26,000 | 28,000 | |
| Billet | Ex-Mandi Gobindgarh | 125x125 mm, IS 2831 | 28,700 | 28,600 | 28,800 | 0 | 28,600 | 29,300 |
| Ex-Durgapur | 125x125 mm, IS 2831 | 26,400 | 26,300 | 26,500 | + 200 | 26,200 | 26,650 | |
| Ex-Rourkela | 125x125 mm, IS 2831 | 25,550 | 25,500 | 25,600 | + 150 | 25,550 | 26,200 | |
| Ex-Raipur | 125x125 mm, IS 2831 | 25,950 | 25,800 | 26,000 | + 350 | 26,100 | 27,250 | |
| Ex-Mumbai | 125x125 mm, IS 2831 | 26,400 | 26,300 | 26,400 | 0 | 26,000 | 27,200 | |
| Ex-Chennai | 125x125 mm, IS 2831 | 27,500 | 27,400 | 27,600 | 0 | 27,500 | 28,000 | |
| Ex-Hyderabad | 125x125 mm, IS 2831 | 26,500 | 26,500 | 26,500 | + 250 | 26,000 | 28,000 | |
| TMT | Ex-Delhi/NCR | 12MM | 32,800 | 32,700 | 32,900 | + 300 | 32,400 | 32,500 |
| Ex-Durgapur | 12MM | 29,600 | 29,400 | 29,800 | + 100 | 29,500 | 29,800 | |
| Ex-Raipur | 12MM | 28,800 | 28,600 | 29,000 | + 400 | 28,900 | 30,000 | |
| Ex-Mumbai | 12MM | 29,700 | 29,300 | 29,800 | + 100 | 29,100 | 30,700 | |
| Ex-Chennai | 12MM | 31,000 | 30,900 | 31,100 | 0 | 31,000 | 32,000 | |
| Ex-Hyderabad | 12MM | 29,500 | 29,400 | 29,600 | + 400 | 29,000 | 30,800 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
