Category Archives: INGOT

India: Punjab State Power Corporation extends shutdown for 24 hours

The Punjab State Power Corporation Ltd (PSPCL) has further extended the shutdown it had initially imposed from 1-3 Jul’21 (48 hours) for another 24 hours i.e., till 4 Jul, on a zone-wise basis. PSPCL has also requested commercial establishments to use power judiciously. Power cuts could happen due to peak energy consumption of 14,142 MW compared with supply of just 12,842 MW amid failure at one unit in the Talwandi power plant.


India: MS Ingot offers uptick in recent deals to southern India

Raipur, central India based suppliers have confirmed deals of around 2,000 t MS Ingot in the last couple of days at around INR 34,400-500/t exw (equivalent to INR 36,300-500/t delivered to Hyderabad, southern India). The demand has been active since past few days which led to a surge in offers by INR 400/t (d-o-d) to INR 34,700-800/t exw Raipur, as per SteelMint’s assessment. With higher cost outside material as well as improved demand, the prices in Hyderabad rebound by INR 1,000/t to INR 36,800/t for Ingot & INR 37,000/t for billet, exw.


India: Punjab based mills to get rebate in power tariff

Steel mills based in Punjab (Mandi Gobindgarh & Ludhiana) would get a rebate of INR 1/unit on night hours power consumption (from 10 pm to 6 am) for a period of 6 months (Oct’20 to Mar’21). With this reduction in power cost, the steelmakers will benefit as production costs will drop slightly*. The current industrial power tariff reported is to be around INR 6.00/unit which depends on load factor, as per furnace owners. (*correction)


Central India: Jindal Cuts Power in Raigarh Over Technical Issues

Production from induction furnaces located in OP Jindal Industrial Park in Punjipathra, Raigarh (central India) has remained disturbed since yesterday over power cut by Jindal, which is the sole supplier of power to the industries.

As per sources report to SteelMint, the furnaces in Punjipatra are now getting power for 8 hours a day amid some technical issues in one of transformers. Thus, production of standalone mills has been disturbed.

Following this, local ingot, billet prices rose by about INR 200-300/MT by closing of 22 Feb’20 and price assessment of ingot stood at INR 28,300/MT ex-Raigarh . It is expected that prices may rise further in the coming days.

There are about 30-40 furnaces in Punjipatra Industrial area with average production of about 3,000-4,000 MT ingot/billet per day and supply material mostly to north-east regions as well as Raipur.

Participants believe with the curtailed power, ingot & billet prices in the local market as well neighboring states may increase and lead to material shortage.

In line with this, it may impact sponge iron market and prices may come under pressure as consumption of sponge iron may come down with lessened furnace operations.


India: Vizag Steel Floats Ocean Export Tender for 30,000 MT Bloom


Vizag Steel, state owned steel maker under the Ministry of Steel, has invited a e-tender for the export of 30,000 MT Bloom.

The offer given by the bidder will remain valid until 12 Feb’20. The bidders requested to kindly consider port of loading as ‘Gangavaram port (GPL)’ only.

Bidders are requested to submit the offer online with best price in USD/MT on FOB st Visakhapatnam (gpl) on direct export basis.


Product Size (mm) Grade Quantity (MT)  LAST DATE OF SHIPMENT 
 BLOOM 150X150 4SP (Length-12 MTRS
(+/-250 MM))
30,000 25-Feb-20

Due Date: Interested bidders can submit their bids till 14:00 hrs on 05 Feb’20.

Prior to this, the company had floated an ocean export tender for 30,000 MT blooms of size 150*150mm. The material offered was of 4SP grade. According to market sources report to SteelMint, the company has concluded the tender at around USD 420-425/MT, FoB India. The material shipment is to be made by 31 Jan’20.

Global billet prices have come down following decline in scrap prices. Current assessment from CIS nations stands at USD 390-395/MT, FoB Black Sea.

For contact details and other information view TENDER SECTION


India: Vizag Steel Invites 30,000 MT Bloom Ocean Export Tender

Rashtriya Ispat Nigam Limited (RINL) – state-owned steel maker under the Ministry of Steel, has inviting e-tender notice for export of 30,000 MT blooms.

The destination for the sales notice floated in any country other than Nepal and banned countries.The bidders requested to kindly consider the port of loading as ‘Gangavaram port (GPL)’ only.

The last date for submission bids is by 14:00 Hrs on 10-01-2020


Product Size (mm) Grade Length Quantity (MT) Last Date of Delivery
BLOOM 150 X 150 4 SP 12 MTRS (+/-250 MM) 30,000 31 Jan’2020

Prior to this, the company had floated spot sales bloom export tender of 50,000 MT quantity and sizes; 150*150mm, 200*200mm and 250*250mm, during mid Dec’19. According to sources, the company concluded the deal for 30,000 MT quantity and 150*150mm size at USD 416-420/MT, FoB.


Jindal May Announce Power Cut in Raigarh Over Coal Shortage

OP Jindal Industrial Park located at Punjipathra, Raigarh, Central India, is likely to cut power supply to the Raigarh based industries from 19th Oct’19 to 31st Oct’19, as reported by steel manufacturers to SteelMint.

An industry participant reported as of now, no official notice from Jindal Power Limited has been issued however it has been verbally notified in today’s meeting held with the steel producers of Punjipathra industrial park. Industrial park has around 30-35 furnaces with a monthly production capacity of around 90,000 MT.

In today’s meeting it was learned that the company is facing irregularity in coal availability supplied amid substation maintenance.

Current price of MS ingot in Raigarh are assessed at INR 25,700-25,800/MT, Billet at INR 26,100-26,200/MT, Sponge C-DRI at INR 16,500-16,600/MT and P-DRI at INR 15,500-15,600/MT. Prices are ex-plant & excluding 18% GST.


India: Punjab State Electricity Commission Hikes Tariff

As per reports, the Punjab State Electricity Regulatory Commission has today revised the tariff by 2.14 % and also increased fixed charges for all the category of consumers by INR 10 per KW with effect from 1st June’19.

As per the order, the domestic tariff has been increased by 8 paisa per unit and fixed charges have been increased by INR 10 per KW.

The tariff for industrial supply has been increased by 8 paisa per unit and fixed charges by INR 5 KVA. The average cost of supply has been worked out INR 6.629 per unit.

How will it impact steel prices ? As per SteelMint, this will add to the cost of production of EAF and the steel mills are likely to pass on this increased cost to their end users. This might lift steel prices.

Currently, steel prices in Punjab region are hovering as follows Ingot – INR 33,700/MT and Billet at INR 34,100/MT (basic prices, GST extra)


India: Jindal Resumes Power Supply to Raigarh, Central India Based Furnaces – Sources

SteelMint learned from market sources that Jindal Power Ltd (JPL) has resumed power supply to Raigarh (Chhattisgarh) based induction furnaces from midnight (30th Apr’19).

Earlier induction furnaces based in Jindal’s industrial park in Punjipatra, Raigarh (Central India) were unable to operate plants in full fledged manner due to 50% (12 hrs) power cut by Jindal Power Ltd since the first week of Apr’19. It is to be noted that JPL is the sole source of power for these furnaces.

Sources close to this matter stated that, “there was some shortfall in power generation due to irregular supply of coal amid elections and although now it resumed ful-fledged for 24 hrs.

However Jindal may withdraw power supply if any problem occurs in near future” he added.

There are about 27-30 induction furnaces in the industrial park, which produces about 70,000-80,000 MT ingot/billet per month and is a major source of raw material for north based rolling mills.

Jindal Power Ltd, the first domestic private sector player to commission an independent power plant (IPP) in 2007, has a total installed capacity of 3,400 MW.

Current price of MS ingot in Raigarh are assessed at INR 30,500-30,600/MT, Billet at INR 31,000/MT, Sponge C-DRI at INR 19,200/MT and P-DRI at INR 18,200/MT. Prices are ex-plant & excluding 18% GST.


Central India Semis Price Up Amid Hampered Production Over Power Cut

Induction furnaces based in Jindal’s industrial park in Punjipatra, Raigarh (Central India) has reported fall in production since 1st April due to power cuts by Jindal power ltd (JPL) for 5-6 hrs/day.

As per them, “JPL has withdrawn power supply over less availability of coal for units located in the industrial park.”

Meanwhile sources stated that, offers may rally on expected further increase in power cut issue, leading to fall in production of standalone furnaces who don’t have their own power production.

Raigarh is one of the prominent merchant billet and ingot producing region, located in central part of India. Raigarh has about 30 induction furnaces, which have monthly production capacity of around 80,000 MT.

Jindal Power Ltd, the first domestic private sector player to commission an independent power plant (IPP) in 2007, has a total installed capacity of 3,400 MW set up at coal pitheads. This includes a 1,000 MW plant (250 MWx4) located at Raigarh district of Chhattisgarh, and another plant of 2,400 MW (600 MWx4) capacity, located at Tamnar in the same state.

Present price of MS ingot in Raigarh are assessed at INR 30,800-30,900/MT, billet at INR 31,300-31,400/MT, Sponge C-DRI at INR 19,000-19,200/MT and P-DRI at INR 18,000/MT; ex-plant, excluding 18% GST. The prices moved up by INR 500/MT (USD 7) in last couple of days.