Indian Semi finished producers have raised their prices on improved inquiries. The prices of Sponge iron have increased by INR 100-200/MT & billet by INR 100-500/MT day-on-day. However, in the Southern India there was mix trade activities resulting price fluctuation of INR 200-500/MT.
SteelMint’s price assessment for induction furnaces billet size 125×125 mm are stood at INR 32,200-36,400/MT (USD 494-559) ex-plant. And the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 20,000-21,200/MT (USD 307-325); prices are ex-plant & excluding GST.
On 29th Mar 2018 (Thursday) INR to USD exchange rate stood at INR 65.15
Raw materials
— India’s largest merchant Iron ore producer – Rungta Mines has today announced a price cut of about INR 200/MT in lumps and INR 100/MT in fines.
— According to the latest assessment of Coking coal, spot prices of the Premium HCC have fallen to around USD 196-197/MT FoB Australia.
Semi finished
— Nepal’s sponge iron import from India rose by close to 5 times at 14,100 MT in Feb 2018 (15th Jan to 14th Feb) as compared to 3,106 MT in Jan 2018 (15th Dec’17 to 14th Jan’18).
— Raipur, Central India based Integrated plants offer increased by INR 100-200/MT D-o-D, offering Sponge P-DRI at INR 19,500-19,600/MT & Sponge DR CLO grade at INR 21,600-21,800/MT ex-plant
— Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 20,000-20,200/MT & Billet at around INR 32,200/MT ex-plant.
— Rashmi Metaliks in Durgapur has increased sponge prices by INR 100/MT and the offers heard at INR 19,700-19,800/MT for P-DRI.
— 79-80 FeM Sponge C-DRI lumps offers in Ramgarh, Jharkhand heard at INR 20,500-20,700/MT ex-plant. Same grade Sponge iron in Mandi Gobindgarh- Punjab reported at INR 24,500-24,700/MT FoR & excluding GST.
— Singhal Steel has offered P-DRI at INR 18,600/MT ex-plant (Raigarh). Also offering billet at INR 32,800-32,900/MT FoR Raipur & excluding GST.
— BMM Ispat in South India has kept offers unaltered, offering FeM 80 P-DRI lumps at INR 19,700/MT ex-Bellary, Karnataka.
— South India based Cauvery Iron & Steel offers FeM 80 P-DRI & billet at INR 20,600/MT & INR 34,000/MT. Also offering 28 MM Rebar at INR 36,500/MT. prices are ex-plant & excluding GST.
Finished Long
— Rathi Steels in North India – Delhi unchanged their price today and current offering at INR 40,000/MT, size – 12 mm & excluding 18% GST.
— South India – Chennai based ARS Trusteel reported unchanged their prices against last day trades. The current offers for Rebar 12 MM around INR 43,500/MT & Billet at INR 36,000/MT ex-plant & excluding GST.
— The suppliers in Raipur have unchanged trade discount on Wire rod at INR 1,200-1,400/MT with stable supply movement.
— Mumbai, Maharashtra based Guardian TMT has raised rebar prices by INR 200/MT & SRMM (Ghasiram) structure prices increased by INR 100/MT; day on day.
— The small mills in Raipur reported healthy inquiries for small size channels. Rebar shortage being observed in most of medium mills.
Reference prices as on 29th March 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 20,000 | 19,900 | 20,100 | 0 | 20,800 | 22,400 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 20,000 | 19,900 | 20,100 | + 100 | 20,100 | 20,600 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 21,200 | 21,100 | 21,300 | + 150 | 21,300 | 21,450 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 20,000 | 19,900 | 20,100 | – 200 | 20,700 | 20,700 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 18,700 | 18,600 | 18,800 | + 100 | 19,200 | 21,300 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 19,550 | 19,500 | 19,600 | + 100 | 19,700 | 20,200 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,500 | 19,400 | 19,600 | – 100 | 20,100 | 20,000 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 20,300 | 20,200 | 20,400 | – 200 | 20,600 | 20,700 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 35,750 | 35,700 | 35,800 | + 450 | 34,900 | 35,700 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 32,600 | 32,500 | 32,700 | + 300 | 32,300 | 33,000 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 31,600 | 31,500 | 31,700 | + 200 | 31,300 | 31,600 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 32,250 | 32,200 | 32,300 | + 250 | 31,800 | 32,500 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 34,300 | 34,200 | 34,400 | + 100 | 34,000 | 34,800 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 35,200 | 35,100 | 35,300 | – 200 | 35,500 | 34,000 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 33,700 | 33,600 | 33,800 | + 500 | 34,200 | 33,800 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 36,400 | 35,300 | 36,500 | + 400 | 35,700 | 36,400 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 32,900 | 32,800 | 33,000 | + 300 | 32,800 | 33,500 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 32,200 | 32,100 | 32,300 | 0 | 32,300 | 32,350 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 33,000 | 32,900 | 33,100 | + 200 | 32,750 | 33,300 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 34,500 | 34,400 | 34,600 | + 100 | 34,200 | 35,000 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 35,700 | 35,600 | 35,800 | – 200 | 36,000 | 34,500 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 34,000 | 33,800 | 34,000 | + 500 | 34,500 | 34,000 | |
| TMT | Ex-Delhi/NCR | 12MM | 38,300 | 38,100 | 38,500 | 0 | 38,800 | 38,500 |
| Ex-Durgapur | 12MM | 37,700 | 37,500 | 37,900 | + 200 | 37,400 | 37,800 | |
| Ex-Raipur | 12MM | 37,000 | 36,800 | 37,200 | + 200 | 36,600 | 36,600 | |
| Ex-Mumbai | 12MM | 38,000 | 37,600 | 38,100 | + 200 | 37,900 | 38,800 | |
| Ex-Chennai | 12MM | 40,800 | 40,700 | 41,100 | 0 | 41,000 | 38,800 | |
| Ex-Hyderabad | 12MM | 39,000 | 38,800 | 39,200 | 0 | 40,000 | 39,500 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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