Daily Update: Indian Sponge & Billet Market
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Indian billet and sponge prices fluctuated by INR 100-300/MT on daily analysis also the trade sentiments showed mix trends as per the industry participants.
SteelMint’s price assessments for induction furnaces billet size 125x125 mm are reported at INR 24,700-27,400/MT (USD 382-425) ex-plant.
While, coal based sponge C-DRI price assessment was at INR 15,300-16,800/MT (USD 237-260) ex-plant.
Key Market Updates:
1. Raipur based big plants offering P-DRI at INR 15,400/MT which was at INR 15,300-15,400/MT on 19th July.
2. According to sources in Durgapur, Rashmi Metaliks today has increase offers by INR 200/MT to INR 16,200/MT for FeM 80 C-DRI.
3. Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 15,400/MT & billet at INR 24,700/MT ex-plant.
4. Monnet Ispat offered FeM 80 sponge lumps at INR 15,600/MT & fines at INR 15,400/MT ex-plant Raigarh; trade activities are firm at these offers.
5. Singhal Steel offered C-DRI (0-20 mm) at INR 15,600-15,700/MT ex-plant (Raigarh), an official reported. Also added few deals of billet concluded for Raipur at 25,500/T FoR.
6. BMM Ispat in South India has increased offers of FeM 80 P-DRI lumps by INR 200/MT to INR 15,600/MT ex-Bellary, Karnataka.
7. Sunvik Steels in Karnataka has increase sponge prices by INR 300/MT; offering FeM 80 & 82 C-DRI are INR 16,300/MT and INR 16,700/MT ex-plant.
Indian sponge & billet reference prices as on 20 July 2017
| Particular/Delivery | C-DRI | D-o-D | W-o-W | Billet | D-o-D | W-o-W |
| Ex-Raipur | 16,800 | +100 | +300 | 25,700 | 0 | +50 |
| Ex-Durgapur | 16,100 | +300 | +950 | 25,500 | 0 | +600 |
| Ex-Rourkela | 15,300 | -50 | +300 | 24,700 | 0 | +250 |
| Ex-Bellary | 16,000 | +200 | +200 | 26,500 | 0 | 0 |
| Ex-Ahmedabad | - | - | - | 27,400 | +300 | +500 |
| Ex-Mumbai | - | - | - | 26,550 | -150 | -250 |
Basic, ex-works prices & excluding of GST @ 18%
Source: SteelMint Research
