Indian steel prices rise sharply on account of strong export demand. Prices have increased by upto INR 800/MT (day to day) and up to INR 4,000/MT (month on month).
With lack of spot availability of billets and re-bar from China and CIS region, enquiries have been diverted to Indian suppliers. Several private and public mills have concluded export deals in the month of December, which is supporting domestic steel prices.
SteelMint’s price assessments for induction furnace billets of size 125×125 mm are reported at INR 29,500-32,700/MT (USD 461-511) ex-plant.
Coal based sponge (78-80 FeM) C-DRI price assessment was at INR 19,100-21,000/MT (USD 298-328); prices are ex-plant & excluding GST.
Today (Thursday, December 21, 2017) INR to USD exchange rate stood at INR 64.02 & BSE Sensex closed at 33,756 (-21).
Key Market Updates:
1. Raipur, Central India based Integrated plants increased sponge offers by INR 300-400/MT D-o-D, offering Sponge P-DRI at INR 19,900-20,100/MT ex-plant
2. Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 19,800/MT & billet at INR 29,300/MT ex-plant.
3. Jharsugda, Odisha based Bhushan Power & Steel has offered Sponge P-DRI at INR 19,200/MT. Also offering steel grade pig iron at INR 25,000/MT ex-plant, the officials reported.
4. BMM Ispat in South India has kept offers unaltered, offering FeM 80 P-DRI lumps at INR 18,400/MT ex-Bellary, Karnataka. Sunvik Steels in Karnataka has increased sponge prices by INR 300/MT; offering FeM 80 & 82 C-DRI are INR 19,300/MT and INR 19,700/MT ex-plant.
5. A close source with Neelachal Ispat (NINL) reported, nil stock with the company for steel grade as almost material have been sold out at the last offer of INR 24,100-24,300/MT, ex-plant.
6. Jindal Steel reported healthy bookings for Ferroshots (panther shots) at the price of INR 24,000/MT ex-Angul, Odisha. The company is also offering steel grade pig iron from Its Raigarh plant at INR 26,000/MT ex-works.
7. SteelMint’s latest price assessment for steel grade pig iron in Central India – Raipur stood at INR 26,300-26,500/MT against last offer of INR 25,800-26,000/MT, rise by INR 500/MT (USD 8).
8. Steel Authority of India (SAIL) has received bids above at USD 510/MT in its billet export tender of 27,000 MT for Ocean nations.
9. Odisha based manufacturers, Ganesh Metaliks & Mahavir Ferro Alloys offered Billet at INR 29,500/MT ex-plant. trade activities are good in domestic market, officials reported.
10. Hyderabad based furnace owners increased Billet prices by INR 700-800/MT to INR 32,500-33,000/MT. Manufacturers reported healty deals at INR 32,500/MT ex-plant & excluding GST
11. The medium steel plants in Raipur have increase rebar gauge parity by INR 200/MT for 8 & 32 mm. Also, it increased in Delhi in same amount for 8-10 mm.
12. Few of the light structure manufacturers in Central India – Raipur reported none inventories and few have added advance bookings.
13. Kalika Steel Alloys in Jalna has increased rebar offers by INR 200/MT & offered 28mm rebars at INR 33,400/MT ex-plant & excluding GST.
14. Rathi Steels, one of the big manufacturer for rebars in North India – Delhi has increased offers by INR 350/MT to INR 36,600-36,700/MT, 12 mm & excluding GST @ 18%.
15. Gujarat based Akshar TMT has increased rebar offers by INR 200/MT & fresh offers are reported at INR 42,000/MT FOR & including GST at 18%, Size – 20 mm.
16. The integrated plants in Raipur today increased Wire rod offers by INR 800/MT. Similary in Durgapur the producers increase offers by INR 500/MT
Reference prices as on 21st 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 | 19,800 | 18,100 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 19,700 | 19,600 | 19,800 | + 300 | 19,200 | 17,500 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 21,000 | 20,900 | 21,100 | + 400 | 20,400 | 18,500 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,100 | 19,000 | 19,200 | + 100 | 18,700 | 16,900 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 19,600 | 19,500 | 19,700 | + 300 | NA | 17,300 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 19,100 | 19,000 | 19,200 | + 100 | 18,800 | 17,000 |
| Ex-Jharsugda | Lumps, FeM 78%, +/-1 | 19,100 | 19,000 | 19,200 | + 600 | 18,200 | NA | |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 20,000 | 19,900 | 20,100 | + 350 | 19,350 | 17,350 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 18,400 | 18,300 | 18,500 | 0 | 18,000 | 16,600 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 19,000 | 18,900 | 19,100 | 0 | 18,600 | 17,300 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 32,000 | 31,900 | 32,100 | + 450 | 31,600 | 30,100 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 29,800 | 29,700 | 29,900 | + 200 | 29,300 | 27,500 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 28,700 | 28,600 | 28,800 | + 500 | 27,950 | 26,100 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 30,300 | 30,200 | 30,400 | + 800 | 28,900 | 26,550 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 32,400 | 32,300 | 32,500 | + 400 | 31,500 | 28,400 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 31,500 | 31,300 | 31,500 | + 200 | 31,000 | 27,700 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 32,750 | 32,500 | 33,000 | + 750 | 31,500 | 28,000 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 32,500 | 32,400 | 32,600 | + 400 | 32,100 | 30,550 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 30,100 | 30,000 | 30,200 | + 200 | 29,600 | 27,800 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 29,500 | 29,400 | 29,600 | + 500 | 28,900 | 26,500 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 31,200 | 31,100 | 31,300 | + 800 | 29,900 | 27,000 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 32,600 | 32,500 | 32,600 | + 400 | 31,800 | 28,600 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 32,000 | 31,900 | 32,200 | + 200 | 31,500 | 28,200 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 32,750 | 32,500 | 33,000 | + 750 | 31,500 | 28,000 | |
| TMT | Ex-Delhi/NCR | 12MM | 35,900 | 35,700 | 36,100 | + 300 | 35,000 | 33,300 |
| Ex-Durgapur | 12MM | 32,800 | 32,600 | 33,000 | + 200 | 32,200 | 30,600 | |
| Ex-Raipur | 12MM | 34,000 | 33,800 | 34,200 | + 800 | 32,500 | 29,800 | |
| Ex-Mumbai | 12MM | 35,800 | 35,400 | 35,900 | + 300 | 34,800 | 31,600 | |
| Ex-Chennai | 12MM | 35,500 | 35,400 | 36,000 | + 500 | 35,000 | 31,700 | |
| Ex-Hyderabad | 12MM | 35,750 | 35,500 | 36,000 | + 750 | 34,500 | 31,000 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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