Since couple of days there has been continues price rise seen in Indian semis market following fluctuating demand in long steel products. In fresh update, the prices seen rise – Sponge by INR 100-350/MT & Billet by INR 200-600/MT D-o-D.
SteelMint’s price assessments for induction furnaces billet size 125×125 mm are reported at INR 26,400-28,500/MT (USD 408-440) ex-plant.
Further the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 17,000-18,200/MT (USD 263-282); prices are ex-plant & excluding GST.
Today (Tuesday, October 31, 2017) INR to USD exchange rate stood at INR 64.75 & BSE Sensex closed at 33,213 (-53).
Key Market Updates:
1. IDCOL issues sale tender for 60,000 MT crushed iron ore fines and 20,000 MT screened iron ore fines from Keonjhar (Odisha).
2. On weekly basis, Indian pellet offers has increased by INR 100-300/MT except in western India where prices have come down by INR 200/MT.
3. MMTC has floated export tender of 15,000 MT non-alloy Pig Iron on behalf of Neelachal Ispat Nigam Limited (NINL). The due date for submission of bids is 08 Nov’17.
4. Central India, Raipur based Integrated plants have offered P-DRI (Sponge pellet) at INR 16,600-16,700/MT against last day at INR 16,500/MT; basic price & excluding of GST at 18%.
5. According to sources in Durgapur, Rashmi Metaliks today has increased offers by INR 200/MT to INR 17,200/MT for FeM 78 P-DRI.
6. Odisha based medium size sponge manufacturers reported increase offers by INR 200-300/MT; FeM 80 C-DRI (70:30 mix material) at INR 16,900-17,000/MT ex-plant & excluding GST.
7. BMM Ispat in South India has increased offers for FeM 80 P-DRI by INR 300-400/MT to INR 16,900-17,000/MT ex-Bellary, Karnataka.
8. Sunvik Steels in Karnataka has increased sponge prices by INR 300/MT; offering FeM 80 & 82 C-DRI are INR 17,700/MT and INR 18,100/MT. All prices are ex-works
9. ILC Iron & Steel, a 350 TPD sponge iron manufacturer from Karnataka sold FeM 80 P-DRI at INR 17,000/MT ex-plant, an official reported
10. Induction furnace billet offers in Ahmedabad reported at INR 28,500/MT for Non-alloy steel makers & INR 28,800/MT for alloy steel makers. Both prices are excluding GST.
Reference prices as on 31st October 2017
|Particular/Delivery||Size, Grade, Origin||Prices||Min||Max||Change||1W||1M|
|C-DRI||Ex-Durgapur||Mix, FeM 78%, +/-1||18,000||17,900||18,000||+ 100||17,000||17,500|
|Ex-Rourkela||Mix, FeM 80%, +/-1||17,000||16,900||17,000||+ 350||16,000||16,000|
|Ex-Raipur||Mix, FeM 80%, +/-1||18,200||18,100||18,300||+ 200||17,000||16,600|
|Ex-Bellary||Lumps, FeM 80%, +/-1||17,000||17,000||17,100||0||16,900||16,500|
|Ex-Hyderabad||Lumps, FeM 80%, +/-1||17,600||17,400||17,700||+ 200||17,100||17,000|
|P-DRI||Ex-Durgapur||Lumps, FeM 78%, +/-1||17,200||17,100||17,300||+ 100||16,300||16,500|
|Ex-Raipur||Lumps, FeM 80%, +/-1||16,600||16,500||16,700||+ 50||15,650||15,300|
|Ex-Bellary||Lumps, FeM 80%, +/-1||16,900||16,800||17,000||+ 100||16,700||16,400|
|Ex-Hyderabad||Lumps, FeM 80%, +/-1||17,500||17,500||17,600||+ 100||17,100||17,000|
|Ingot||Ex-Mandi Gobindgarh||3.5 x 4.5 Inch, IS 2830||29,150||29,100||29,200||+ 200||28,450||28,150|
|Ex-Durgapur||3.5 x 4.5 Inch, IS 2830||27,000||26,900||27,100||+ 50||26,000||26,000|
|Ex-Rourkela||3.5 x 4.5 Inch, IS 2830||26,000||25,900||26,100||+ 350||25,100||25,550|
|Ex-Raipur||3.5 x 4.5 Inch, IS 2830||26,500||26,400||26,600||+ 100||25,550||26,200|
|Ex-Mumbai||3.5 x 4.5 Inch, IS 2830||27,400||27,300||27,500||+ 50||26,300||25,900|
|Ex-Chennai||3.5 x 4.5 Inch, IS 2830||27,000||26,900||27,100||0||27,250||27,000|
|Ex-Hyderabad||3.5 x 4.5 Inch, IS 2830||27,500||27,500||28,000||+ 250||27,100||26,500|
|Billet||Ex-Mandi Gobindgarh||125×125 mm, IS 2831||29,600||29,500||29,700||+ 200||28,700||28,500|
|Ex-Durgapur||125×125 mm, IS 2831||27,400||27,300||27,500||0||26,400||26,600|
|Ex-Rourkela||125×125 mm, IS 2831||26,400||26,300||26,500||+ 400||25,450||25,800|
|Ex-Raipur||125×125 mm, IS 2831||27,100||27,000||27,200||+ 300||26,100||26,700|
|Ex-Mumbai||125×125 mm, IS 2831||27,700||27,600||27,800||+ 100||26,600||26,100|
|Ex-Chennai||125×125 mm, IS 2831||27,500||27,300||27,700||0||27,750||27,500|
|Ex-Hyderabad||125×125 mm, IS 2831||27,500||27,500||28,000||+ 250||27,100||26,500|
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research