Today, the trade inquiries have remained average in Central & East India. However, in South & Western regions the demand have improved following increase in billet prices at around INR 300-500/MT (USD 4-8).
Further, due to healthy supply of Sponge iron, prices remained marginally fell by INR 100-300/MT, as per SteelMint daily assessment. The Industry participants stated, inductions in major markets are running out of stock, however the major sponge manufacturers have sufficient inventories.
Today, the offers for induction furnaces billet size 125×125 mm stood at INR 32,400-36,300/MT (USD 499-559) ex-plant. Meanwhile, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 19,700-21,300/MT (USD 303-328); prices are ex-plant & excluding GST.
On 2nd Apr 2018 (Monday) INR to USD exchange rate stood at INR 65.0 & BSE Sensex closed at 33,255(+287).
Raw materials
— Tata Steel has released provisional figures for FY18 in which the company’s production and sales reported highest ever. The sales reported at 12.13 MnT in FY18 as against 10.97 MnT in FY17. Further, the saleable steel production for FY18 assessed at 12.26 MnT which was at 11.35 MnT in FY17.
— Melting scrap prices in Western India- Maharashtra unaltered today, while in Gujarat it declined by INR 200-300/MT day-on-day.
— Manganese Ore India (MOIL), the country’s largest and government-owned manganese ore producer has raised prices of various grades of Ferro, Silico Manganese and Fines by upto 12.5% for the quarter Apr-Jun’18.
Semi finished
— As per trade participants, the steel mills in Punjab-Mandi Gobindgarh have source billets from Durgapur and Jamshedpur & the freight cost heard at INR 2,500-3,000/MT. The Sponge C-DRI, lumps prices in Mandi Gobindgarh reported at INR 24,000-24,200/MT FoR for 79-80 FeM.
— The market participants reported improved supply for Sponge iron. Thus, discount being quoted by the producers on bulk bookings. Meanwhile, the sponge manufacturers mentioned, further price fall in domestic Iron ore & pellets due to strong availability.
— Raipur, Central India based Integrated plants kept offers unaltered at INR 19,600-19,700/MT for Sponge P-DRI & INR 21,800-22,000/MT for Sponge DR CLO; both are ex-plant.
— Durgapur based big plants have reduced sponge prices by INR 200-300/MT day-on-day and the latest offers heard at INR 18,200-18,300/MT for P-DRI.
— In the last week-end, East India – Odisha based a renowned producer has sold out 78-80 FeM Sponge C-DRI lumps for exports of Bangladesh at around USD 360-362/MT CPT Benpole (dry port of India & Bangladesh). On CFR basis this offers would cost at around USD 380-385/MT, CFR Chhittagong.
— Sponge C-DRI 78-80 FeM lumps prices in Jamshedpur, Jharkhand evaluated at INR 20,400-20,600/MT ex-plant.
Finished Long
— Shakti Ferro Alloys in Chennai, South Region has unchanged their offers on day basis & current offering Billet at INR 36,000/MT, ex-work & excluding GST.
— Raipur Power and Steel Ltd has unchanged their offer of Wire Rod (5.5 MM) at INR 38,200/MT, Ex-Mill & Excluding GST.
— 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.
— Mandi based Pipe manufacturer have changed the parity differences wef 01.04.18.
— The suppliers in Raipur have unchanged trade discount on Wire rod by around INR 1,000-1,200/MT.
Reference prices as on 02nd April 2018
| Products | Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 19,700 | 19,600 | 19,800 | -200 | 20,100 | 22,700 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 19,800 | 19,700 | 20,000 | – 100 | 20,000 | 20,900 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 21,300 | 21,200 | 21,400 | 0 | 21,200 | 21,600 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 20,200 | 20,100 | 20,300 | 0 | 20,300 | 21,100 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 18,300 | 18,200 | 18,400 | -200 | 18,600 | 21,600 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 19,600 | 19,500 | 19,700 | 0 | 19,600 | 20,400 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,600 | 19,500 | 19,700 | 0 | 19,800 | 20,300 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 20,600 | 20,500 | 20,700 | 0 | 20,500 | 21,000 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 35,700 | 35,600 | 35,800 | +100 | 34,800 | 35,900 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 32,500 | 32,400 | 32,600 | 0 | 32,200 | 35,550 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 31,700 | 31,600 | 31,800 | 0 | 31,200 | 32,200 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 32,600 | 32,600 | 32,700 | +100 | 31,850 | 33,000 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 34,900 | 34,800 | 35,000 | +200 | 34,100 | 35,300 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 35,700 | 35,600 | 35,800 | +500 | 35,500 | 34,500 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 36,300 | 36,100 | 36,500 | 0 | 35,500 | 36,700 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 32,800 | 32,700 | 32,900 | 0 | 32,600 | 34,000 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 32,400 | 32,300 | 32,500 | 0 | 32,000 | 32,800 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 33,200 | 33,100 | 33,300 | +100 | 32,700 | 33,700 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 35,200 | 35,100 | 35,300 | +300 | 34,300 | 35,500 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 36,200 | 36,100 | 36,300 | +500 | 36,000 | 35,000 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 34,000 | 33,900 | 34,100 | -250 | 34,000 | 34,500 | |
| TMT | Ex-Delhi/NCR | 12MM | 38,900 | 38,700 | 39,100 | 0 | 38,000 | 39,100 |
| Ex-Durgapur | 12MM | 37,800 | 37,600 | 38,000 | 0 | 37,400 | 38,300 | |
| Ex-Raipur | 12MM | 37,000 | 36,800 | 37,200 | -100 | 36,700 | 37,000 | |
| Ex-Mumbai | 12MM | 38,800 | 38,400 | 38,900 | +200 | 38,000 | 39,200 | |
| Ex-Chennai | 12MM | 41,000 | 40,800 | 41,200 | +200 | 40,800 | 39,500 | |
| Ex-Hyderabad | 12MM | 39,500 | 39,300 | 39,700 | 0 | 39,500 | 40,000 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
Leave a Reply