Daily Update: Indian Sponge & Billet Market
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Indian billet and sponge prices fluctuated by INR 100-300/MT on daily analysis, the trade showed mix trends as per the industry participants.
SteelMint’s price assessments for induction furnaces billet size 125x125 mm are reported at INR 26,250-28,300/MT (USD 408-440) ex-plant.
While, coal based sponge C-DRI price assessment was at INR 17,200-18,000/MT (USD 268-280) ex-plant & excluding GST at 18%.
Today (Tuesday, September 19, 2017) INR to USD exchange rate stood at 64.34 & BSE Sensex closed at 32,402(-21).
Key Market Updates:
1. Neelachal Ispat Nigam Ltd (NINL), India’s largest and state owned steel grade pig iron manufacturer & exporter has reduced pig iron prices for foundry grade (N2) by INR 1,000-1,200/MT (USD 15-18) for Sept 2017. Foundry (N2) grade offers are at INR 24,300-24,500/MT (USD 380-383).
2. Jindal SAW (Rajasthan) reduced pellet offers by INR 100/MT to INR 7,050/MT on weak sentiments. Jindal steel (Barbil) pellet offers marginally up to INR 5,300/MT from INR 5,200/MT (Loaded to Wagon) W-o-W.
3. According to the sources, the Central India(Raipur) based Integrated plants have offers P-DRI at INR 16,600-16,700/MT & INR 18,700/MT for DR-CLO. Both prices are basic & excluding of GST at 18%.
4. Durgapur, East India based big manufacturers have kept sponge prices remains firm for the day; P-DRI at INR 16,700/MT & C-DRI at INR 17,600/MT basic & excluding of GST at 18%.
5. Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 17,300/MT & billet at INR 26,200/MT ex-plant.
6. Jharsugda, Odisha based manufacturers namely Shyam Metaliks and Bhushan Power & Steel are offering Sponge P-DRI at INR 15,900-16,000/MT. According to officials, major deals for Raipur, Central India.
7. BMM Ispat in South India has kept offers unaltered, offering FeM 80 P-DRI lumps at INR 16,900/MT ex-Bellary, Karnataka.
8. ILC Iron & Steel, a 350 TPD sponge manufacturer from Karnataka offered FeM 80 P-DRI lump at INR 17,000/MT ex-plant.
Reference prices as on 19 September 2017
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 17,600 | 17,500 | 17,700 | + 50 | 17,650 | 18,300 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 17,200 | 17,000 | 17,300 | 0 | 17,500 | 17,900 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 18,000 | 17,900 | 18,100 | 0 | 18,400 | 18,900 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 17,250 | 17,200 | 17,300 | - 50 | 17,700 | 17,700 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 16,700 | 16,600 | 16,800 | + 50 | 16,700 | 17,400 |
| Ex-Rourkela | Lumps, FeM 78%, +/-1 | 15,800 | 15,700 | 15,900 | 0 | 16,400 | 17,100 | |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 16,700 | 16,600 | 16,800 | 0 | 17,000 | 17,900 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 16,800 | 16,700 | 16,900 | - 100 | 17,400 | 17,500 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 29,000 | 28,900 | 29,100 | + 100 | 28,650 | 29,500 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 26,300 | 26,200 | 26,400 | + 50 | 26,000 | 26,800 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 26,050 | 26,000 | 26,100 | + 150 | 25,800 | 26,200 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 26,800 | 26,700 | 26,900 | + 100 | 26,300 | 26,400 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 27,000 | 26,900 | 27,100 | 0 | 27,300 | 27,800 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 27,750 | 27,700 | 27,800 | 0 | 28,000 | 29,000 | |
| Billet | Ex-Mandi Gobindgarh | 125x125 mm, IS 2831 | 29,400 | 29,300 | 29,500 | + 100 | 29,100 | 29,800 |
| Ex-Durgapur | 125x125 mm, IS 2831 | 26,700 | 26,600 | 26,800 | + 50 | 26,400 | 27,250 | |
| Ex-Rourkela | 125x125 mm, IS 2831 | 26,250 | 26,100 | 26,300 | + 50 | 26,200 | 26,500 | |
| Ex-Raipur | 125x125 mm, IS 2831 | 27,300 | 27,200 | 27,400 | + 50 | 26,800 | 26,900 | |
| Ex-Mumbai | 125x125 mm, IS 2831 | 27,200 | 27,100 | 27,200 | 0 | 27,500 | 28,000 | |
| Ex-Chennai | 125x125 mm, IS 2831 | 28,000 | 27,800 | 28,200 | 0 | 28,500 | 29,500 | |
| TMT | Ex-Delhi/NCR | 12MM | 32,500 | 32,300 | 32,700 | 0 | 32,000 | 34,150 |
| Ex-Durgapur | 12MM | 29,600 | 29,400 | 29,800 | - 200 | 29,500 | 29,800 | |
| Ex-Raipur | 12MM | 30,100 | 29,900 | 30,200 | + 100 | 29,600 | 29,800 | |
| Ex-Mumbai | 12MM | 30,700 | 30,300 | 30,800 | 0 | 31,100 | 32,200 | |
| Ex-Chennai | 12MM | 32,000 | 31,800 | 32,300 | 0 | 32,500 | 32,800 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
