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Daily Update: Indian Semis offers Decline

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BigMint Bureau

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31 Jan 2018, 18:16 IST

Daily Update: Indian Semis offers Decline

Indian Sponge & Billet market today reported price corrections by about INR 100-500/MT (USD 1-8) due to limited inquiries in major markets. The industry participants are eagerly awaiting the Union Budget which will be declared on Feb 1 and is expected to hold a slew of surprises for Indian Steel Industry.

SteelMint’s price assessments for induction furnaces billet size 125x125 mm are reported at INR 31,400-34,900/MT (USD 494-549) ex-plant. Further the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 20,300-21,700/MT (USD 319-341); prices are ex-plant & excluding GST.

On 31st Jan 2018 (Wednesday) INR to USD exchange rate stood at INR 63.60 & BSE Sensex closed at 35,965 (-68).

Key Market Updates:

1. Vizag Steel has invited a tender for purchase of 100,000 MT iron ore fines from the indigenous source & the due date for submitting the offer is 19 Feb’18

2. Indian sponge iron export offers to Bangladesh remain unchanged with limited trade activities. The latest offers are assessed at USD 390-395/MT CPT Benapole & USD 415-420/MT CFR Chhittagong, Bangladesh.

3. Raipur, Central India based Integrated plants offers reduced by INR 100/MT D-o-D, offering Sponge P-DRI at INR 20,000-20,100/MT ex-plant

4. Rashmi Metaliks in Durgapur has reduced sponge prices by INR 100-200/MT and the latest offers are heard at INR 20,600-20,700/MT for P-DRI.

5. Odisha based manufacturer, Ganesh Metaliks offered Billet at INR 31,400-31,500/MT ex-plant. trade activities are weak at these offers, an official reported.

6. BMM Ispat in South India has kept offers unaltered, offering FeM 80 P-DRI lumps at INR 19,600-19,700/MT ex-Bellary, Karnataka.

7. BIOP Steels in South India has offered FeM 80 & 82 C-DRI lumps at INR 20,900/MT & 21,300/MT ex-plant, Karnataka. trade activities are slow at these offers according to the officials.

8. Jindal Steel offering Pig iron at INR 28,500/MT (ex-Raigarh), Ferroshots at INR 27,000/MT & Pooled iron at INR 26,000/MT (ex-Angul) Odisha.

9. The medium/small rolling mills in Delhi have increased rebar gauge parity by INR 200/MT for 8 & 10 mm.

10. The big plants in Raipur & Durgapur have rolled over Wire rod prices for the day. Meanwhile, rebar prices declined in these markets about INR 100-300/MT on poor inquiries.

Reference prices as on 31st January 2018

	Particular/Delivery	Size, Grade, Origin	Prices	Min	Max	Change	1W	1M
C-DRI	Ex-Durgapur	Mix, FeM 78%, +/-1	21,700	21,600	21,800	0	21,500	22,500
	Ex-Rourkela	Mix, FeM 80%, +/-1	20,900	20,800	21,000	- 100	20,900	21,800
	Ex-Raipur	Mix, FeM 80%, +/-1	21,300	21,200	21,400	- 100	21,500	22,700
	Ex-Bellary	Lumps, FeM 80%, +/-1	20,300	20,200	20,400	- 100	20,600	20,900
P-DRI	Ex-Durgapur	Lumps, FeM 78%, +/-1	20,600	20,500	20,600	0	20,500	21,500
	Ex-Raipur	Lumps, FeM 80%, +/-1	20,000	19,900	20,100	- 200	20,300	21,700
	Ex-Bellary	Lumps, FeM 80%, +/-1	19,600	19,500	19,700	- 100	19,800	20,400
	Ex-Hyderabad	Lumps, FeM 80%, +/-1	19,900	19,800	20,000	- 500	20,400	20,500
Ingot	Ex-Mandi Gobindgarh	3.5 x 4.5 Inch, IS 2830	34,700	34,600	34,800	+ 300	33,950	34,300
	Ex-Durgapur	3.5 x 4.5 Inch, IS 2830	31,600	31,500	31,700	- 100	31,300	32,500
	Ex-Rourkela	3.5 x 4.5 Inch, IS 2830	30,900	30,800	31,000	- 100	30,700	31,900
	Ex-Raipur	3.5 x 4.5 Inch, IS 2830	31,700	31,600	31,800	- 100	31,600	32,700
	Ex-Mumbai	3.5 x 4.5 Inch, IS 2830	34,000	33,900	34,100	0	34,100	35,300
	Ex-Chennai	3.5 x 4.5 Inch, IS 2830	33,500	33,400	33,600	0	34,200	33,500
	Ex-Hyderabad	3.5 x 4.5 Inch, IS 2830	33,750	33,500	34,000	- 250	34,000	35,250
Billet	Ex-Mandi Gobindgarh	125x125 mm, IS 2831	35,400	35,300	35,500	+ 300	34,800	34,800
	Ex-Durgapur	125x125 mm, IS 2831	32,100	32,000	32,200	- 100	31,800	32,500
	Ex-Rourkela	125x125 mm, IS 2831	31,400	31,400	31,500	0	31,300	32,500
	Ex-Raipur	125x125 mm, IS 2831	32,400	32,300	32,500	- 100	32,500	33,700
	Ex-Mumbai	125x125 mm, IS 2831	34,200	34,100	34,300	0	34,300	35,500
	Ex-Chennai	125x125 mm, IS 2831	34,000	34,000	34,200	0	34,800	34,000
	Ex-Hyderabad	125x125 mm, IS 2831	33,750	33,500	34,000	- 250	34,000	35,250
TMT	Ex-Delhi/NCR	12MM	38,200	38,000	38,400	- 100	38,400	39,700
	Ex-Durgapur	12MM	36,300	36,100	36,500	0	35,800	36,500
	Ex-Raipur	12MM	36,000	35,800	36,200	- 300	36,000	37,100
	Ex-Mumbai	12MM	38,800	38,400	38,800	0	39,300	38,800
	Ex-Chennai	12MM	38,750	38,500	39,000	- 750	39,250	38,000
	Ex-Hyderabad	12MM	37,700	37,500	37,900	0	37,200	38,400