Raigarh Based Furnaces Start Production as Jindal Resumes Power Supply
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Raigarh (Chattisgarh, India) based induction furnaces have resumed ingot and billet production from last Saturday (4th Nov) after Jindal re-starts supplying power.
These furnaces are installed in Jindal's industrial park in Raigarh which supplies power to these furnaces. Jindal Power Ltd had cut power supply to these units amid low generation.
Raigarh is one of the prominent merchant billet and ingot producing region, located in central part of India. Region has about 25-27 induction furnaces, which has an annual production capacity of 0.70 to 0.80 million tonnes.
Daily Update: Indian Sponge & Billet Market
Indian Sponge & billet offers fall by INR 100-300/MT (USD 1-3) on 6th Nov. The slower trade activities resulted slight price correction in domestic Semis market.
SteelMint's price assessments for induction furnaces billet size 125x125 mm are reported at INR 26,500-28,400/MT (USD 410-440) ex-plant. Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 17,200-18,000/MT (USD 266-278); prices are ex-plant & excluding GST.
Today (Monday, November 6, 2017) INR to USD exchange rate stood at INR 64.67 & BSE Sensex closed at 33,731 (+45).
Key Updates
1. Indian iron ore exports increased by 73% M-o-M to 0.76 MnT in Oct'17 against 0.44 MnT in Sept'17
2. India's finished steel exports decline significantly by 31% M-o-M basis to 0.77 MnT in Oct'17 against 1.11 MnT in Sep'17.
3. Raipur, Central India based Integrated plants offered Sponge P-DRI at INR 16,500/MT ex-plant and in bulk purchase discounts being heard of INR 100-200/MT
4. Odisha based medium size sponge manufacturers reported firm offers; FeM 80 C-DRI (70:30 mix material) at INR 17,200-17,300/MT ex-plant & excluding GST.
5. Jharsugda, Odisha based manufacturers namely - Bhushan Power & Steel are offering Sponge P-DRI at INR 16,200/MT. While, Shyam Metaliks offers for Billet heard at around INR 26,500/MT ex-plant.
6. Sunvik Steels in Karnataka kept sponge prices unaltered; offering FeM 80 & 82 C-DRI are INR 17,700/MT and INR 18,100/MT ex-plant
7. Last Saturday, Hyderabad (Telangana) purchased Billet from Odisha at INR 26,200-26,300/MT (ex-plant); freight to Hyderabad at INR 1,800/MT, the trade participants reported.
Reference prices as on 6th November 2017
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 18,050 | 18,000 | 18,100 | - 100 | 17,900 | 17,050 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 17,250 | 17,200 | 17,300 | - 50 | 16,650 | 15,800 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 18,000 | 17,900 | 18,100 | - 50 | 18,000 | 16,500 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 17,200 | 17,100 | 17,200 | - 200 | 17,000 | 16,300 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 17,600 | 17,500 | 17,600 | - 200 | 17,400 | 16,700 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 17,300 | 17,200 | 17,300 | 0 | 17,100 | 16,200 |
| Ex-Jharsugda | Lumps, FeM 78%, +/-1 | 16,000 | 15,800 | 16,200 | 0 | NA | NA | |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 16,500 | 16,400 | 16,600 | - 150 | 16,550 | 15,000 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 16,900 | 16,800 | 17,000 | - 200 | 16,800 | 16,100 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 17,500 | 17,500 | 17,600 | - 100 | 17,400 | 16,700 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 29,500 | 29,400 | 29,600 | - 150 | 28,950 | 28,200 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 27,050 | 27,000 | 27,100 | 0 | 26,950 | 25,800 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 26,200 | 26,100 | 26,300 | 0 | 25,650 | 25,200 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 26,400 | 26,300 | 26,500 | - 100 | 26,400 | 25,600 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 26,900 | 26,900 | 27,000 | 0 | 27,350 | 25,750 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 27,000 | 27,000 | 27,250 | - 250 | 27,000 | 27,000 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 28,000 | 28,000 | 28,000 | 0 | 27,250 | 26,000 | |
| Billet | Ex-Mandi Gobindgarh | 125x125 mm, IS 2831 | 30,000 | 29,900 | 30,100 | - 200 | 29,400 | 28,600 |
| Ex-Durgapur | 125x125 mm, IS 2831 | 27,400 | 27,300 | 27,500 | - 100 | 27,400 | 26,200 | |
| Ex-Rourkela | 125x125 mm, IS 2831 | 26,500 | 26,400 | 26,600 | - 100 | 26,000 | 25,550 | |
| Ex-Raipur | 125x125 mm, IS 2831 | 26,900 | 26,800 | 27,000 | - 100 | 26,800 | 26,100 | |
| Ex-Mumbai | 125x125 mm, IS 2831 | 27,100 | 27,000 | 27,200 | - 100 | 27,600 | 26,000 | |
| Ex-Chennai | 125x125 mm, IS 2831 | 27,500 | 27,500 | 27,750 | 0 | 27,500 | 27,500 | |
| Ex-Hyderabad | 125x125 mm, IS 2831 | 28,000 | 28,000 | 28,000 | 0 | 27,250 | 26,000 | |
| TMT | Ex-Delhi/NCR | 12MM | 33,300 | 33,100 | 33,500 | - 200 | 33,700 | 32,400 |
| Ex-Durgapur | 12MM | 30,500 | 30,300 | 30,800 | 0 | 30,300 | 29,500 | |
| Ex-Raipur | 12MM | 29,700 | 29,500 | 29,900 | - 100 | 29,700 | 28,900 | |
| Ex-Mumbai | 12MM | 30,300 | 29,900 | 30,400 | - 200 | 30,800 | 29,100 | |
| Ex-Chennai | 12MM | 31,500 | 31,000 | 31,600 | 0 | 31,700 | 31,000 | |
| Ex-Hyderabad | 12MM | 30,800 | 30,800 | 31,000 | 0 | 30,100 | 29,000 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
