Indian Semi finished offers in major markets today reported rise of INR 100-300/MT with improved trade activities.
SteelMint’s price assessments for induction furnaces billet size 125×125 mm are reported at INR 29,000-32,200/MT (USD 453-503) ex-plant.
Further the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 19,000-20,600/MT (USD 297-322); prices are ex-plant & excluding GST.
Today (Tuesday, December 19, 2017) INR to USD exchange rate stood at INR 64.02 & BSE Sensex closed at 33,836 (+235).
Key Market Updates:
1. Pellet export offers from India remained firm in the week and reference price is assessed around USD 114-115/MT, CFR China
2. Raipur, Central India based Integrated plants have slightly raise their offers at INR 19,500-19,600/MT against last day at INR 19,400-19,500/MT. Sponge DR CLO grade offers are hovering at INR 21,200-21,400/MT ex-plant.
3. Rashmi Metaliks based in Durgapur has increased sponge prices by INR 100/MT and offered P-DRI at INR 19,100/MT – Sources.
4. Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 19,200/MT & billet at INR 29,000/MT ex-plant.
5. BMM Ispat in Karnataka has offered sponge P-DRI at INR 18,400/MT and Sunvik Steels sponge C-DRI lumps at INR 19,000/MT. Both offers for FeM 80, excluding GST & ex-plant basis.
6. Hare Krishna, a 300 TPD sponge manufacturer in Bellary, Karnataka has offered 80 FeM P-DRI at INR 18,000-18,200/MT ex-plant.
7. Melting scrap offers in India rise by INR 400-800/MT W-o-W owing to shortage & couple with rise in domestic semi-finished & global scrap offers
8. Kamachi Steels based in Chennai has increased offers of billet at INR 32,000/MT & Rebar 12mm at INR 36,000/MT ex-plant & excluding GST.
9. An purchase source based in Nepal reported SAIL’s Wire rod export offers at around USD 540/MT (ex-mill), Bhilai Steel plant, Central India. It is also heard that medium mills in Durgapur (East India) also sold Wire rod to Nepal at around USD 530-535/MT on ex-mill basis.
10. The manufacturers in Raipur today increased Rebar, Structure & Wire rod offers by INR 100-200/MT.
11. Standalone Billet manufacturers in Gujarat – Ahmedabad reported shortage for local ship breaking scrap and indicates further increase in local scrap prices looking at higher imported offers amid strong demand.
Reference prices as on 19th December 2017
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 20,100 | 20,000 | 20,200 | + 100 | 19,300 | 17,800 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 19,300 | 19,200 | 19,300 | + 100 | 18,700 | 17,300 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 20,600 | 20,500 | 20,700 | 0 | 20,000 | 18,500 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,000 | 18,800 | 19,000 | + 300 | 18,000 | 17,200 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 19,300 | 19,200 | 19,400 | NA | NA | 17,500 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 19,100 | 19,000 | 19,200 | + 100 | 18,300 | 16,900 |
| Ex-Jharsugda | Lumps, FeM 78%, +/-1 | 18,400 | 18,300 | 18,500 | 0 | NA | NA | |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 19,500 | 19,400 | 19,600 | + 50 | 18,900 | 17,250 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 18,200 | 18,000 | 18,400 | 0 | 17,600 | 16,800 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 18,800 | 18,700 | 18,800 | + 100 | 18,000 | 17,500 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 31,750 | 31,700 | 31,800 | + 200 | 31,000 | 29,700 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 29,700 | 29,600 | 29,800 | + 200 | 28,700 | 27,250 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 28,200 | 28,100 | 28,200 | + 250 | 27,400 | 26,000 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 29,100 | 29,000 | 29,200 | + 200 | 28,100 | 26,400 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 31,700 | 31,600 | 31,800 | + 100 | 30,600 | 27,800 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 31,300 | 31,000 | 31,500 | + 300 | 30,000 | 27,250 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 31,500 | 31,300 | 31,700 | 0 | 30,300 | 28,000 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 32,300 | 32,300 | 32,400 | + 300 | 31,500 | 30,200 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 30,000 | 29,900 | 30,000 | + 300 | 29,000 | 27,650 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 29,000 | 28,900 | 29,100 | + 100 | 28,200 | 26,300 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 30,050 | 30,000 | 30,200 | + 150 | 29,100 | 26,900 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 32,000 | 31,900 | 32,100 | + 100 | 30,800 | 28,000 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 31,800 | 31,500 | 32,000 | + 300 | 30,500 | 27,900 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 31,500 | 31,300 | 31,500 | 0 | 30,300 | 28,000 | |
| TMT | Ex-Delhi/NCR | 12MM | 35,600 | 35,400 | 35,800 | 0 | 34,300 | 33,500 |
| Ex-Durgapur | 12MM | 32,600 | 32,400 | 32,800 | + 200 | 31,800 | 30,600 | |
| Ex-Raipur | 12MM | 32,700 | 32,500 | 32,900 | + 100 | 31,700 | 29,600 | |
| Ex-Mumbai | 12MM | 35,400 | 35,000 | 35,500 | 0 | 34,100 | 31,500 | |
| Ex-Chennai | 12MM | 35,000 | 34,800 | 35,500 | 0 | 34,000 | 31,300 | |
| Ex-Hyderabad | 12MM | 34,500 | 34,300 | 34,700 | 0 | 33,300 | 31,000 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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