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Daily Update: Indian Sponge & Billet Market

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BigMint Bureau
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20 Sep 2017, 18:15 IST
Daily Update: Indian Sponge & Billet Market

Today, Billet & Sponge offers in Central & East India saw a slight fluctuation by INR 100-300/MT. However, in South India the billet producers have reduced their offers by INR 500/MT following weak inquiries and seasonal conditions.

As per SteelMint's assessment on 20th Sept, the prices for FeM 78-80 C-DRI sponge are reported at INR 17,150-17,800/MT (USD 267-277). While, induction furnaces billet (size 125x125 mm) are at INR 26,300-28,500/MT (USD 409-443). All prices are ex-works & excluding GST.

Today (Wednesday, September 20, 2017) INR to USD exchange rate stood at 64.30 & BSE Sensex closed at 32,400(-1).

Key Updates

1. NMDC Iron ore production down by 7% M-o-M in Aug’17, produced 2.25 MnT iron ore in Aug'17 against 2.41 MnT in Jul'17.

2. During the 1st -18th Sep’17 period, around 2.5 MnT of the coal was imported in India, as per the CoalMint assessment.

3. Central India based manufacturers reduced P-DRI offers around INR 300/MT to INR 16,400-16,500/MT basic price & excluding of GST at 18%.

4. Odisha based medium size manufacturers reported offers for FeM 80 C-DRI 70:30 mix material at INR 17,000-17,200/MT ex-plant & excluding of GST at 18%. while Jharsugda based manufacturers sold FeM 79-80 P-DRI at INR 16,400-16,500/MT FoR Raipur (Excl. GST).

5. Sunvik Steels in Karnataka kept sponge prices stable; offering FeM 80 & 82 C-DRI are INR 17,400/MT and INR 17,800/MT ex-plant

6. Hyderabad based furnace owners have reduced billet offers by INR 500/MT to INR 27,500/MT (ex-plant) due to weak demand.

7. Today, melting scrap (HMS 80:20) prices in India up by INR 100-400/MT.

Reference prices as on 20 September 2017

Particular/Delivery Size, Grade, Origin Prices Min Max Change 1W 1M
C-DRI Ex-Durgapur  Mix, FeM 78%, +/-1 17,800 17,700 17,900 + 200 17,500 18,150
Ex-Rourkela  Mix, FeM 80%, +/-1 17,150 17,000 17,300 - 50 17,300 17,750
Ex-Raipur  Mix, FeM 80%, +/-1 17,800 17,700 17,900 - 200 18,300 18,800
Ex-Bellary  Lumps, FeM 80%, +/-1 17,050 17,000 17,100 - 200 17,700 17,600
P-DRI Ex-Durgapur  Lumps, FeM 78%, +/-1 16,900 16,800 17,000 + 200 16,500 17,250
Ex-Rourkela  Lumps, FeM 78%, +/-1 15,750 15,700 15,800 - 50 16,000 17,000
Ex-Raipur  Lumps, FeM 80%, +/-1 16,400 16,300 16,500 - 300 16,900 17,600
Ex-Bellary  Lumps, FeM 80%, +/-1 16,700 16,600 16,800 - 100 17,400 17,400
Ingot Ex-Mandi Gobindgarh  3.5 x 4.5 Inch, IS 2830 29,200 29,100 29,300 + 200 28,600 29,300
Ex-Durgapur  3.5 x 4.5 Inch, IS 2830 26,500 26,400 26,600 + 200 26,000 26,700
Ex-Rourkela  3.5 x 4.5 Inch, IS 2830 26,000 26,000 26,100 - 50 25,500 26,000
Ex-Raipur  3.5 x 4.5 Inch, IS 2830 26,650 26,600 26,700 - 150 26,200 26,200
Ex-Mumbai  3.5 x 4.5 Inch, IS 2830 26,900 26,800 27,000 - 100 27,300 27,700
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 29,500 29,400 29,600 + 100 29,000 29,700
Ex-Durgapur  125x125 mm, IS 2831 26,800 26,700 26,900 + 100 26,400 27,100
Ex-Rourkela  125x125 mm, IS 2831 26,300 26,200 26,400 + 50 26,000 26,300
Ex-Raipur  125x125 mm, IS 2831 27,250 27,200 27,300 - 50 26,750 26,700
Ex-Mumbai  125x125 mm, IS 2831 27,100 27,000 27,200 - 100 27,500 27,900
Ex-Chennai  125x125 mm, IS 2831 28,000 27,800 28,200   0 28,500 29,500
TMT Ex-Delhi/NCR  12MM 32,500 32,400 32,600   0 32,000 33,900
Ex-Durgapur  12MM 29,800 29,700 29,900 + 200 29,500 29,600
Ex-Raipur  12MM 30,000 29,900 30,100 - 100 29,600 29,600
Ex-Mumbai  12MM 30,700 30,600 30,800   0 31,100 31,900
Ex-Chennai  12MM 32,000 31,900 32,100   0 32,250 33,000

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

20 Sep 2017, 18:15 IST

 

 

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