Indian Semis market registered further price corrections on 9th March. The prices have registered fall of – billet by INR 100-500/MT & Sponge iron by INR 100-200/MT day-on-day. Slowdown domestic inquiries have forced producers to cut prices, the industry participants mentioned.
SteelMint’s price assessments for induction furnaces billet size 125×125 mm are reported at INR 32,500-36,000/MT (USD 499-553) ex-plant.
Further the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 20,500-22,100/MT (USD 315-340); prices are ex-plant & excluding GST.
On 9th Mar 2018 (Friday) INR to USD exchange rate stood at INR 65.19 & BSE Sensex closed at 33,307(-44).
Key Market Updates:
1. Tata Metaliks, India’s one of the largest foundry grade pig iron manufacturer has raised its prices by INR 800/MT (USD 12) & reported at INR 32,400/MT(Ex-Kharagpur) for high silicon, foundry grade Pig iron.
2. Officials from Vedanta Resources (Known as Sesa Goa Ltd) indicates further rise in Pig iron prices for Mar’18 deliveries due to limited stock and strong inquiries.
3. Local manufacturers in Raigarh are offering 60-14 Silico Manganese at around INR 72,000/MT ex-plant
4. Durgapur, Eastern India based private pig iron producers have offered steel grade Pig iron at INR 29,800-30,000/MT ex-plant.
5. Raipur, Central India based Integrated plants offer reduced by INR 100/MT D-o-D, offering Sponge P-DRI at INR 19,900-20,000/MT & Sponge DR CLO grade at INR 22,100-22,300/MT ex-plant
6. Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 20,500/MT & billet at INR 32,800-33,000/MT ex-plant.
7. Odisha based manufacturer, Ganesh Metaliks offered billet at INR 32,800/MT ex-plant for domestic buyers and has concluded export deal of a rake billet to Nepal at USD 515/MT (Loaded to wagon).
8. BMM Ispat in South India (Karnataka) has reduced offers for FeM 80 P-DRI by INR 200/MT to INR 20,300/MT ex-Bellary, an official reported.
9. BIOP steels in South India has offered FeM 80 & 82 C-DRI lumps at INR 21,600/MT & 22,100/MT ex-plant, Karnataka; an official reported.
10. South India based Cauvery Iron & Steel has reduced offers for FeM 80 P-DRI by INR 200/MT to INR 20,800/MT. Also offering Billet & 28 MM Rebar at INR 34,000/MT & INR 37,500/MT. prices are ex-plant & excluding GST.
11. Bellary, Karnataka based furnace owners selling billet to Chennai (Tamil Nadu) at around INR 36,300-36,500/MT on FoR basis.
12. Goa based plants have booked 20 ft containerized melting scrap at USD 360/MT, 20 MT loading from West Africa & arrival period would be approximate after couple of months.
13. The structure manufacturers in Raipur, Central India have reduced prices for both light & heavy sizes by INR 200/MT
Reference prices as on 9th March 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 22,100 | 22,000 | 22,100 | – 200 | 22,400 | 21,050 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 20,500 | 20,400 | 20,600 | – 100 | 20,600 | 20,400 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 21,600 | 21,500 | 21,700 | 0 | 21,450 | 20,700 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 21,100 | 21,000 | 21,200 | – 200 | 20,700 | 20,200 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 21,000 | 20,900 | 21,000 | – 200 | 21,300 | 20,050 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 20,000 | 19,900 | 20,100 | – 100 | 20,200 | 19,600 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 20,400 | 20,300 | 20,500 | – 100 | 20,000 | 19,500 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 20,800 | 20,700 | 20,900 | – 200 | 20,700 | 19,900 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 35,200 | 35,100 | 35,300 | – 500 | 35,700 | 34,050 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 33,200 | 33,100 | 33,300 | – 100 | 33,000 | 31,500 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 31,800 | 31,700 | 31,900 | – 300 | 31,600 | 30,400 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 32,300 | 32,200 | 32,400 | – 300 | 32,500 | 31,400 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 34,500 | 34,400 | 34,600 | – 300 | 34,800 | 33,800 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 36,000 | 35,900 | 36,100 | + 250 | 34,000 | 33,500 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 33,800 | 33,800 | 34,000 | 0 | 33,800 | 33,750 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 36,000 | 35,900 | 36,100 | – 500 | 36,400 | 34,800 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 33,500 | 33,400 | 33,600 | – 200 | 33,500 | 32,000 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 32,700 | 32,600 | 32,800 | – 100 | 32,350 | 31,000 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 33,100 | 33,000 | 33,200 | – 200 | 33,300 | 32,100 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 34,700 | 34,600 | 34,800 | – 300 | 35,000 | 34,000 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 36,500 | 36,400 | 36,700 | + 250 | 34,500 | 34,000 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 34,000 | 34,000 | 34,500 | 0 | 34,000 | 33,750 | |
| TMT | Ex-Delhi/NCR | 12MM | 38,800 | 38,600 | 39,000 | 0 | 38,500 | 37,700 |
| Ex-Durgapur | 12MM | 38,300 | 38,100 | 38,500 | – 200 | 37,800 | 36,100 | |
| Ex-Raipur | 12MM | 36,600 | 36,400 | 36,800 | – 200 | 36,600 | 35,900 | |
| Ex-Mumbai | 12MM | 38,700 | 38,300 | 38,800 | – 500 | 38,800 | 38,700 | |
| Ex-Chennai | 12MM | 40,500 | 40,400 | 41,000 | 0 | 38,800 | 38,500 | |
| Ex-Hyderabad | 12MM | 39,800 | 39,500 | 40,000 | 0 | 39,500 | 38,200 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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