Indian Semi finished steel offers witness rise today across major markets, Sponge iron by INR 100-300/MT & Billet in the range of INR 300-750/MT (USD 4-12). The industry participants are mentioned that, trade inquiries are average with the sharp surge in prices.
SteelMint’s price assessments for induction furnaces billet size 125×125 mm are reported at INR 30,900-34,700/MT (USD 480-539) ex-plant. Further the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 20,000-21,150/MT (USD 311-328); prices are ex-plant & excluding GST.
On 8th Feb 2018 (Thursday) INR to USD exchange rate stood at INR 64.39 & BSE Sensex closed at 34,413 (+330).
Key Market Updates:
1. Supreme Court cancels 88 iron ore mining leases in Goa. Exports will get affected. State exported around 10.95 MnT in 2017. No affect on domestic iron ore prices.
2. Raipur, Central India based Integrated plants offered Sponge P-DRI at INR 19,300-19,500/MT ex-plant , which was at INR 19,000-19,200/MT on 8th Feb’17.
3. Rashmi Metaliks in Durgapur raised sponge prices by INR 300-400/MT to INR 20,100-20,200/MT for P-DRI.
4. Odisha based medium size sponge manufacturers reported increased offers by INR 300/MT; FeM 80 C-DRI (70:30 mix material) at INR 20,200-20,400/MT ex-plant & excluding GST.
5. BIOP Steels in South India has increased sponge offers by around INR 300/MT, offering FeM 80 & 82 C-DRI lumps at INR 20,400/MT & INR 20,800/MT ex-plant, Karnataka; an official reported.
6. Neelachal Ispat (NINL) reduced Pig iron prices by INR 500/MT (USD 8) in its latest price circular and offered Steel grade pig iron at INR 27,500/MT & Fundry grade material at INR 28,000/MT, ex-Cuttack, Odisha.
7. Vizag Steel has further increased Semis & long steel prices upto INR 1,500/MT location wise w.e.f. 01st Feb 2018. The offers increase for Wire Rod by INR 250-750/MT, Structure by INR 500-1,500/MT, Re-bars by INR 500-1,500/MT & Pig Iron by INR 1,500/MT.
8. Rathi Steels, one of the big manufacturer for rebars in North India – Delhi has increased offers by INR 800/MT to INR 38,900-39,000/MT, 12 mm & excluding GST @ 18%.
9. Kalika Steel Alloys in Jalna reduced prices by INR 200/MT and offered 28mm rebars at INR 36,000/MT ex-plant & excluding GST.
10. Raipur, Central India based Wire Rod manufacturers have increased offers by INR 500/MT and offered 5.5 mm Wire rod at INR 37,100/MT ex-plant and trade discounts at around INR 800-1,000/MT.
11. The medium mills in Raipur reported that, healthy deals for rebars yesterday at around INR 35,500-35,800/MT (ex-plant) and for 12 mm, however today they didn’t get any major inquiries at the same prices.
Reference prices as on 8th February 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 21,150 | 21,100 | 21,200 | + 150 | 21,600 | 21,500 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 20,300 | 20,200 | 20,400 | + 300 | 20,800 | 20,700 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 20,700 | 20,600 | 20,800 | + 200 | 21,300 | 21,400 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 20,100 | 20,000 | 20,200 | + 200 | 20,200 | 20,600 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 20,150 | 20,100 | 20,200 | + 150 | 20,600 | 20,500 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 19,400 | 19,300 | 19,500 | + 300 | 20,000 | 20,300 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,300 | 19,200 | 19,400 | + 100 | 19,400 | 19,900 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 19,900 | 19,800 | 20,000 | + 300 | 19,800 | 20,200 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 33,900 | 33,800 | 34,000 | + 100 | 34,600 | 33,100 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 31,300 | 31,200 | 31,400 | + 300 | 31,600 | 31,300 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 30,300 | 30,200 | 30,400 | + 300 | 30,950 | 30,200 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 31,200 | 31,100 | 31,300 | + 450 | 31,600 | 31,000 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 33,600 | 33,500 | 33,700 | + 100 | 34,000 | 33,500 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 33,500 | 33,300 | 33,700 | + 500 | 34,000 | 34,000 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 33,250 | 33,000 | 33,500 | + 750 | 33,500 | 34,000 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 34,700 | 34,600 | 34,900 | + 400 | 35,200 | 34,000 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 31,800 | 31,700 | 31,900 | + 300 | 32,100 | 31,600 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 30,900 | 30,800 | 31,000 | + 400 | 31,400 | 31,000 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 31,900 | 31,900 | 32,000 | + 600 | 32,300 | 31,800 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 33,800 | 33,700 | 33,800 | + 100 | 34,200 | 33,700 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 34,000 | 33,750 | 34,000 | + 500 | 34,500 | 34,500 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 33,250 | 33,000 | 33,500 | + 750 | 33,500 | 34,000 | |
| TMT | Ex-Delhi/NCR | 12MM | 37,700 | 37,500 | 37,900 | + 500 | 38,200 | 37,800 |
| Ex-Durgapur | 12MM | 36,000 | 35,800 | 36,200 | + 400 | 36,300 | 35,500 | |
| Ex-Raipur | 12MM | 35,800 | 35,600 | 36,000 | + 600 | 36,000 | 35,600 | |
| Ex-Mumbai | 12MM | 38,500 | 38,100 | 38,600 | 0 | 38,600 | 38,200 | |
| Ex-Chennai | 12MM | 38,500 | 38,400 | 39,000 | + 300 | 39,000 | 38,500 | |
| Ex-Hyderabad | 12MM | 37,950 | 37,700 | 38,200 | + 1,250 | 37,000 | 36,700 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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