Today, Indian Semi finished prices rise marginally over improved inquiries. The price rise seen in Sponge iron by INR 100-200/MT & Billet by INR 200-500/MT day-on-day.
SteelMint’s price assessments for induction furnaces billet size 125×125 mm are reported at INR 32,400-36,800/MT (USD 498-566) ex-plant. Further the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 20,800-22,200/MT (USD 320-342); prices are ex-plant & excluding GST.
On 22nd Feb 2018 (Thursday) INR to USD exchange rate stood at INR 65.04 & BSE Sensex closed at 33,819 (-25).
Key Market Updates:
1. Jindal Steel (JSPL) to export 8,000 MT Bloom from Vizag port through ship Kengtung & the expected date to board of ship is 22nd Feb’18
2. SAIL, SSP issues one fresh global tender for purchase of 5,130 MT HMS Scrap which is due date on 19 Mar’18.
3. Durgapur, Eastern India based private pig iron producers have raised prices by IN 1,000/MT to INR 30,000/MT against last day offers. As per the market participants, short supply of material is the driving factor of price rise. Meanwhile, the last trades by producers are reported at INR 28,800-29,000/MT.
4. Indian Sponge Iron export offers increase further in recent trades. The latest export price assessment for 80 FeM sponge lumps stood at USD 388-390/MT CPT Benapole (land port of Bangladesh and India) against beginning of current week at USD 383-385/MT.
5. Raipur, Central India based Integrated plants offer unaltered day-on-day, offering Sponge P-DRI at INR 20,200-20,300/MT ex-plant
6. Rashmi Metaliks in Durgapur has raised sponge price by INR 100/MT and reported P-DRI at around INR 21,100/MT ex-plant.
7. Odisha based medium size sponge manufacturers reported firm offers; FeM 80 C-DRI (70:30 mix material) at INR 20,600-20,800/MT ex-plant & excluding GST.
8. A day before, Monnet Ispat sold 1,000-1,200 ton C-DRI at INR 20,800/MT ex-plant, Raigarh, an official reported. And added, concluded a deal of 400-500 ton P-DRI & DR-CLO from its Raipur based plant at INR 20,100-20,200/MT & INR 22,300/MT ex-plant, respectively; majorly deals concluded for local & Maharashtra market.
9. BIOP Steels in South India has kept offers unaltered, offering FeM 80 & 82 C-DRI lumps at INR 20,900/MT & INR 21,400/MT ex-plant, Karnataka; an official reported.
10. Bellary, Karnataka based furnace owners selling billet to Chennai (Tamil Nadu) at INR 34,300-34,500/MT on FoR basis.
11. Odisha based billet manufacturers eye on billet exports over Indian rupee depreciate to 65.04 against USD.
12. Local manufacturers in Raipur are offering 60-14 Silico Manganese at INR 69,000-69,500/MT ex-plant.
13. Tulsyan NEC Steel (Tulsyan) based in Chennai has kept the same prices from last 2-3 days & offered 12mm Rebars at INR 40,500/MT & Billet at INR 35,000/MT, ex-plant & excluding GST.
14. Rathi Steels in North India – Delhi has increase their price today by INR 300/MT and offering 12 mm at INR 40,400/MT, excluding 18% GST.
15. As per market sources, one minor Rebar export deal heard to be concluded at around USD 605/MT, CIF Myanmar from Chennai, South India.
Reference prices as on 22nd February 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 22,200 | 22,100 | 22,300 | + 100 | 21,700 | 21,600 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 20,800 | 20,700 | 20,900 | + 100 | 20,600 | 21,000 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 21,500 | 21,400 | 21,600 | + 100 | 21,400 | 21,500 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 20,800 | 20,700 | 20,900 | – 100 | 20,900 | 20,700 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 21,100 | 21,000 | 21,200 | + 100 | 20,700 | 20,600 |
| Ex-Jharsugda | Lumps, FeM 78%, +/-1 | 19,400 | 19,300 | 19,500 | 0 | 19,200 | NA | |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 20,250 | 20,200 | 20,300 | + 50 | 20,050 | 20,300 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 20,000 | 19,900 | 20,100 | – 100 | 20,000 | 20,000 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 20,900 | 20,800 | 21,000 | 0 | 20,600 | 20,700 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 36,000 | 36,000 | 36,100 | + 200 | 35,100 | 33,900 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 33,000 | 32,900 | 33,100 | + 200 | 32,100 | 31,300 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 31,800 | 31,700 | 31,900 | + 100 | 31,200 | 31,000 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 32,600 | 32,500 | 32,700 | + 100 | 32,100 | 31,700 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 34,800 | 34,700 | 34,900 | 0 | 34,700 | 34,200 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 34,000 | 33,800 | 34,200 | 0 | 34,000 | 34,000 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 33,500 | 33,300 | 33,500 | + 500 | 34,000 | 34,500 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 36,800 | 36,700 | 36,900 | + 200 | 35,700 | 34,700 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 33,400 | 33,400 | 33,500 | + 200 | 32,650 | 31,800 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 32,400 | 32,300 | 32,500 | 0 | 31,800 | 31,500 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 33,300 | 33,200 | 33,400 | 0 | 32,750 | 32,500 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 35,000 | 34,900 | 35,100 | 0 | 34,900 | 34,400 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 34,500 | 34,400 | 35,000 | 0 | 34,500 | 34,500 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 33,500 | 33,300 | 33,500 | + 500 | 34,000 | 34,500 | |
| TMT | Ex-Delhi/NCR | 12MM | 38,800 | 38,600 | 39,000 | + 300 | 38,500 | 38,200 |
| Ex-Durgapur | 12MM | 37,600 | 37,400 | 37,800 | + 300 | 36,900 | 35,900 | |
| Ex-Raipur | 12MM | 36,800 | 36,600 | 37,000 | + 100 | 36,500 | 36,200 | |
| Ex-Mumbai | 12MM | 39,200 | 38,800 | 39,300 | 0 | 39,300 | 39,300 | |
| Ex-Chennai | 12MM | 38,600 | 38,500 | 39,000 | 0 | 38,700 | 39,500 | |
| Ex-Hyderabad | 12MM | 39,000 | 38,800 | 39,200 | + 300 | 38,700 | 37,700 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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