Domestic Semi-finished offers rise further on strong demand and rise in raw material prices, Sponge iron offers increase by INR 200-400/MT & Billet by INR 200-750/MT, D-o-D.
Today, SteelMint’s price assessments for induction furnaces billet size 125×125 mm are reported at INR 27,500-30,500/MT (USD 426-473) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 17,800-19,600/MT (USD 276-304); prices are ex-plant & excluding GST.
Today (Thursday, November 30, 2017) INR to USD exchange rate stood at INR 64.47 & BSE Sensex closed at 33,149 (-453).
Key Market Updates:
1. Mahanadi Coalfields Ltd (MCL) had decided to cut down coal supplies to the Non-power sector for the third successive month in Dec’17, in order to augment coal supply to the power stations.
2. Sponge iron prices in Raipur rise further to hit 3 years high owing to recent hike in iron ore prices by some major miners.
3. Raipur, Central India based Integrated plants have increase offers by INR 300/MT D-o-D, offering Sponge P-DRI at INR 18,400-18,600/MT ex-plant. Sponge DR-CLO grade offers also up by INR 200-300/MT to INR 20,100-20,300/MT. Both prices ex-plant & excluding GST.
4. In West Bengal – Durgapur, big manufacturers have increased sponge offers by INR 200/MT D-o-D; P-DRI at INR 18,000/MT & C-DRI at INR 19,000/MT ex-plant
5. Odisha based medium size sponge manufacturers reported increase offers by INR 300-400/MT; FeM 80 C-DRI (70:30 mix material) at INR 18,400-18,500/MT ex-plant & excluding GST.
6. BMM Ispat in South India has kept offers unaltered, offering FeM 80 P-DRI lumps at INR 17,100-17,300/MT ex-Bellary, Karnataka.
7. ILC Iron & Steel, a 350 TPD sponge iron manufacturer from Karnataka offered FeM 80 mix material sponge at INR 17,400-17,500/MT ex-plant, an official reported
8. Hyderabad based furnace owners increased Billet prices by INR 700-800/MT to INR 29,500-30,000/MT. Manufacturers reported healthy deals at INR 29,500/MT; ex-plant & excluding GST
9. Melting scrap offers in Western India- Maharashtra & Gujarat rise by INR 500-1,000/MT (W-o-W) owing to rise in Sponge & billet prices.
10. Indian pig iron prices find support on rising raw material and steel prices globally. Some manufacturers in East India have raised offers by INR 500/MT (USD 8).
11. Medium mills across India today raise rebar prices by INR 200-500/MT on strong demand and hike in billet offers. Light structure offers also increased marginally by INR 100-200/MT in Raipur & Mumbai.
Reference prices as on 30th November 2017
|Particular/Delivery||Size, Grade, Origin||Prices||Min||Max||Change||1W||1M|
|C-DRI||Ex-Durgapur||Mix, FeM 78%, +/-1||19,000||18,900||19,100||+ 200||18,100||18,200|
|Ex-Rourkela||Mix, FeM 80%, +/-1||18,400||18,300||18,500||+ 300||17,500||17,100|
|Ex-Raipur||Mix, FeM 80%, +/-1||19,600||19,500||19,700||+ 100||18,500||18,100|
|Ex-Bellary||Lumps, FeM 80%, +/-1||17,800||17,700||17,900||+ 300||16,900||17,300|
|Ex-Hyderabad||Lumps, FeM 80%, +/-1||18,100||18,000||18,200||+ 400||17,300||17,700|
|P-DRI||Ex-Durgapur||Lumps, FeM 78%, +/-1||18,000||17,900||18,100||+ 200||17,000||17,400|
|Ex-Raipur||Lumps, FeM 80%, +/-1||18,500||18,400||18,600||+ 300||17,350||16,700|
|Ex-Bellary||Lumps, FeM 80%, +/-1||17,400||17,300||17,500||+ 200||16,600||17,100|
|Ex-Hyderabad||Lumps, FeM 80%, +/-1||18,100||18,000||18,200||+ 400||17,300||17,600|
|Ingot||Ex-Mandi Gobindgarh||3.5 x 4.5 Inch, IS 2830||31,100||31,000||31,200||+ 600||30,100||29,500|
|Ex-Durgapur||3.5 x 4.5 Inch, IS 2830||28,600||28,500||28,700||+ 300||27,500||27,000|
|Ex-Rourkela||3.5 x 4.5 Inch, IS 2830||27,100||27,000||27,100||+ 500||26,100||26,100|
|Ex-Raipur||3.5 x 4.5 Inch, IS 2830||27,600||27,500||27,700||+ 400||26,550||26,450|
|Ex-Mumbai||3.5 x 4.5 Inch, IS 2830||29,900||29,800||30,000||+ 300||28,400||27,250|
|Ex-Chennai||3.5 x 4.5 Inch, IS 2830||28,500||28,400||28,600||0||27,700||27,250|
|Ex-Hyderabad||3.5 x 4.5 Inch, IS 2830||29,750||29,500||30,000||+ 750||28,000||28,000|
|Billet||Ex-Mandi Gobindgarh||125×125 mm, IS 2831||31,600||31,500||31,700||+ 600||30,550||30,000|
|Ex-Durgapur||125×125 mm, IS 2831||29,000||29,000||29,200||+ 300||27,800||27,400|
|Ex-Rourkela||125×125 mm, IS 2831||27,500||27,400||27,600||+ 400||26,500||26,500|
|Ex-Raipur||125×125 mm, IS 2831||28,300||28,200||28,400||+ 450||27,000||27,000|
|Ex-Mumbai||125×125 mm, IS 2831||30,100||30,000||30,200||+ 300||28,600||27,600|
|Ex-Chennai||125×125 mm, IS 2831||29,000||28,900||29,100||0||28,200||27,750|
|Ex-Hyderabad||125×125 mm, IS 2831||29,750||29,500||30,000||+ 750||28,000||28,000|
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research