On daily basis, domestic Semi finished prices decline sharply as weak sentiments continuous. The prices seen fall – Sponge by INR 200-400/MT & Billet by INR 200-800/MT day on day.
SteelMint’s price assessments for induction furnaces billet size 125×125 mm are reported at INR 31,000-34,300/MT (USD 485-536) ex-plant.
Further the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 20,000-21,500/MT (USD 313-336); prices are ex-plant & excluding GST.
Today (Thursday, December 28, 2017) INR to USD exchange rate stood at INR 64.06 & BSE Sensex closed at 33,848 (-63).
Key Market Updates:
1. Indian iron ore export to China has come down by 35% Y-o-Y to 1.42 MnT in Nov’17 against 2.2 MnT in Nov’16 last year.
2. Indian sponge iron export offers to Bangladesh have increased by around USD 25/MT W-o-W & assessed at USD 375-380/MT CPT Benapole (land port of Bangladesh and India).
3. Raipur, Central India based Integrated plants offers reduced by INR 300/MT D-o-D, offering Sponge P-DRI at INR 20,200-20,400/MT ex-plant
4. Rexon Strips a prime grade sponge manufacturer in Odisha has sold out 80+ FeM C-DRI mix at INR 21,000/MT (ex-plant), an official stated and the deals are majorly for Jalna (Maharashtra) market, he added.
5. BIOP Steels in South India has reduced sponge offers by INR 200/MT, offering FeM 80 & 82 C-DRI lumps at INR 20,100-20,200/MT & 20,500/MT ex-plant, Karnataka.
6. BMM Ispat in Karnataka has offered sponge P-DRI at INR 19,700/MT and Sunvik Steels sponge C-DRI lumps at INR 20,400/MT. Both offers for FeM 80, excluding GST & ex-plant basis.
7. Privat pig iron manufacturers in East India have reduced offers by INR 200-400/MT. The latest offers are hovering at INR 26,600-26,800/MT ex-Durgapur & INR 26,200/MT ex-Bokaro.
8. Jindal Steel has offer Panther-shots (granulated pig iron) at INR 26,000/MT ex-Angul, Odisha. Also offering Steel grade Pig irona at INR 27,000/MT ex-plant, Raigarh.
9. The medium steel plants in Hyderabad have increase rebar gauge parity by INR 200/MT for 8 & 32 mm. Also, it increased in same amount for 10-25 mm.
10. Gujarat based Akshar TMT has reduced rebar offers by INR 200-300/MT and the fresh offers for 20 mm are reported at INR 44,400/MT, FOR & including 18% GST. Kalika Steels in Jalna has offered 28mm rebars at INR 35,500/MT, the offers are stable compared to last day trade.
11. Rathi Steels, one of the big manufacturer for rebars in North India – Delhi has reduced offers by INR 500/MT to INR 39,400-39,500/MT, size – 12 mm & excluding 18% GST.
12. Vizag Steel (RINL) increase prices – rebar by INR 1,500/MT, structure by INR 1,000/MT & Wire Rod by INR 1,250/MT, recent released price circular by the company shows, w.e.f. 26th Dec’17.
13. The medium rolling mills in Raipur reduced rebars & structure prices by INR 200-400/MT. Similarly, in Mumbai – Ghasiram Structure prices fall by INR 500/MT day on day.
14. The big plants in Raipur & Durgapur have reduced Wire rod prices by INR 400/MT. Latest offers for 5.5mm are evaluated at INR 37,600/MT ex-Raipur & INR 37,000/MT ex-Durgapur. Trade discounts being provide in Raipur of around INR 500/MT.
Reference prices as on 28th December 2017
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 21,200 | 21,100 | 21,300 | – 300 | 20,100 | 19,000 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 20,300 | 20,300 | 20,400 | – 400 | 19,700 | 18,400 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 21,500 | 21,400 | 21,600 | – 400 | 21,000 | 19,600 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 20,000 | 19,900 | 20,100 | 0 | 19,100 | 17,800 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 20,200 | 20,100 | 20,300 | – 300 | 19,100 | 18,000 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 20,300 | 20,200 | 20,400 | – 300 | 20,000 | 18,500 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,500 | 19,400 | 19,600 | 0 | 18,400 | 17,400 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 20,000 | 19,900 | 20,000 | 0 | 19,000 | 18,100 | |
| Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 32,500 | 32,400 | 32,600 | – 800 | 32,000 | 31,100 | |
| Ingot | Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 30,900 | 30,800 | 31,000 | – 500 | 29,800 | 28,600 |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 30,200 | 30,100 | 30,200 | – 500 | 28,700 | 27,100 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 30,600 | 30,500 | 30,700 | – 800 | 30,300 | 27,600 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 33,300 | 33,200 | 33,400 | – 500 | 32,400 | 29,900 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 32,700 | 32,500 | 33,000 | 0 | 31,500 | 28,500 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 33,500 | 33,000 | 33,500 | – 250 | 32,750 | 29,750 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 33,000 | 32,900 | 33,100 | – 800 | 32,500 | 31,600 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 31,300 | 31,200 | 31,400 | – 300 | 30,100 | 29,000 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 31,000 | 30,800 | 31,200 | – 500 | 29,500 | 27,500 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 31,600 | 31,500 | 31,700 | – 600 | 31,200 | 28,300 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 33,500 | 33,400 | 33,500 | – 500 | 32,600 | 30,100 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 33,300 | 33,300 | 33,700 | + 300 | 32,000 | 29,000 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 33,500 | 33,000 | 33,500 | – 250 | 32,750 | 29,750 | |
| TMT | Ex-Delhi/NCR | 12MM | 38,700 | 38,500 | 38,900 | – 500 | 35,900 | 34,000 |
| Ex-Durgapur | 12MM | 34,900 | 34,700 | 35,100 | – 400 | 32,800 | 31,500 | |
| Ex-Raipur | 12MM | 35,400 | 35,200 | 35,600 | – 400 | 34,000 | 30,900 | |
| Ex-Mumbai | 12MM | 37,500 | 37,100 | 37,600 | 0 | 35,800 | 33,100 | |
| Ex-Chennai | 12MM | 36,800 | 36,800 | 37,500 | + 300 | 35,500 | 32,600 | |
| Ex-Hyderabad | 12MM | 36,700 | 36,200 | 36,700 | – 100 | 35,750 | 32,750 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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