According to industry participants Indian Semi-finished steel offers today fluctuated by INR 100-500/MT amid subdued trade activities. In the opening hours, prices fell while at the end of day inquiries were improved resulting in price rise.
SteelMint’s price assessments for induction furnaces billet size 125×125 mm are reported at INR 30,500-34,300/MT (USD 475-534) ex-plant. Further the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 19,700-21,000/MT (USD 307-327); prices are ex-plant & excluding GST.
On 7th Feb 2018 (Wednesday) INR to USD exchange rate stood at INR 64.24 & BSE Sensex closed at 34,082 (-113).
Key Market Updates:
1. KIOCL became the largest Indian pellet exporter for Jan’18 with exports at 0.22 MnT, accounting for 35% share in total pellet exports.
2. NMDC has issued a tender for purchase of 200,000 MT Coking Coal on FoR destination basis for the Nagarnar steel plant. The due date for bid submission is 21 Feb’18.
3. Coking Coal imports in India are recorded at 4.89 MnT in Jan’18 against 5.12 MnT in Dec’17, decline by 4.49% M-o-M.
4. Today, Supreme Court in its verdict canceled the second renewal of Iron ore mining lease granted by the state government in Goa.
5. Raipur, Central India based Integrated plants offers reduced by INR 300-400/MT D-o-D, offering Sponge P-DRI at INR 19,100-19,200/MT ex-plant
6. Rashmi Metaliks in Durgapur has offered Sponge P-DRI at INR 19,800-19,900/MT, according to sources.
7. Singhal Steel offered P-DRI at INR 18,700-18,800/MT ex-plant (Raigarh), an official reported. Also offering billet at 31,200/T FoR Raipur.
8. Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 20,000/MT & billet at INR 30,700/MT ex-plant.
9. BIOP Steels in South India has reduced sponge offers by around INR 300/MT, offering FeM 80 & 82 C-DRI lumps at INR 20,100/MT & INR 20,500/MT ex-plant, Karnataka; an official reported.
10. South India based Cauvery Iron & Steel offers FeM 80 P-DRI & billet at INR 19,800/MT & INR 32,500/MT (ex-plant). Also offering 28 MM Rebar at INR 34,500/MT. prices are ex-plant & excluding GST.
11. Induction furnace grade billet 100×100, export offers for Nepal are reported at around USD 485-495/MT (ex-mill) Durgapur/Rourkela.
12. Local manufacturers in Raigarh are offering 60-14 Silico Manganese at around INR 66,500/MT ex-plant
13. Rathi Steels, one of the big manufacturer for rebars in North India – Delhi has remain unchanged their offers at INR 38,100-38,200/MT, size – 12 mm & excluding 18% GST.
14. Sangam TMT based in Wardha – Maharashtra has offering 12 mm rebars at INR 36,300/MT ex-plant & excluding 18% GST.
15. Big plants in Raipur today kept unchanged Wire rod (5.5mm) prices at INR 36,600/MT ex-plant and trade discounts heard at around INR 1,200-1,300/MT.
Reference prices as on 7th February 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 21,000 | 20,900 | 21,100 | + 200 | 21,700 | 21,700 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 20,000 | 19,900 | 20,100 | – 300 | 20,900 | 21,000 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 20,500 | 20,400 | 20,600 | – 200 | 21,300 | 21,400 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,900 | 19,800 | 20,000 | – 100 | 20,300 | 20,800 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 20,000 | 19,900 | 20,100 | + 300 | 20,600 | 20,700 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 19,100 | 19,000 | 19,200 | – 400 | 20,000 | 20,200 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,200 | 19,100 | 19,300 | 0 | 19,600 | 20,000 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 19,600 | 19,500 | 19,700 | 0 | 19,900 | 20,200 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 33,800 | 33,700 | 33,900 | + 100 | 34,700 | 33,100 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 31,000 | 30,900 | 31,100 | + 100 | 31,600 | 31,300 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 30,000 | 29,900 | 30,100 | 0 | 30,900 | 30,400 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 30,750 | 30,700 | 30,800 | + 200 | 31,700 | 30,900 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 33,500 | 33,400 | 33,600 | 0 | 34,000 | 33,800 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 33,000 | 32,800 | 33,200 | – 500 | 33,500 | 34,250 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 32,500 | 32,400 | 32,600 | 0 | 33,750 | 34,000 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 34,300 | 34,100 | 34,400 | – 300 | 35,400 | 33,900 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 31,500 | 31,400 | 31,600 | + 100 | 32,100 | 31,700 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 30,500 | 30,400 | 30,600 | – 200 | 31,400 | 31,200 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 31,300 | 31,200 | 31,400 | 0 | 32,400 | 31,800 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 33,700 | 33,700 | 33,800 | 0 | 34,200 | 34,000 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 33,500 | 33,250 | 33,750 | – 500 | 34,000 | 34,750 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 32,500 | 32,400 | 32,600 | 0 | 33,750 | 34,000 | |
| TMT | Ex-Delhi/NCR | 12MM | 37,200 | 37,000 | 37,400 | 0 | 38,200 | 38,200 |
| Ex-Durgapur | 12MM | 35,600 | 35,400 | 35,800 | – 300 | 36,300 | 35,500 | |
| Ex-Raipur | 12MM | 35,200 | 35,000 | 35,400 | 0 | 36,000 | 35,600 | |
| Ex-Mumbai | 12MM | 38,500 | 38,100 | 38,600 | 0 | 38,800 | 38,700 | |
| Ex-Chennai | 12MM | 38,200 | 38,000 | 38,400 | – 300 | 38,750 | 38,600 | |
| Ex-Hyderabad | 12MM | 36,700 | 36,600 | 36,800 | – 500 | 37,700 | 37,200 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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