In the week opening, domestic Semi finished prices fluctuates amid average trade inquiries. The price movement have seen – Sponge iron by INR 100-200/MT & Billet by INR 100-500/MT day-on-day.
SteelMint’s price assessment for induction furnaces billet size 125×125 mm are stood at INR 33,000-37,100/MT (USD 507-571) ex-plant. And the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 20,300-21,700/MT (USD 312-334); prices are ex-plant & excluding GST.
On 9th Apr 2018 (Monday) INR to USD exchange rate stood at INR 64.98 & BSE Sensex closed at 33,788(+161).
Key Market Updates:
1. NMDC – India’s largest iron ore miner recorded production at 35.5 MnT in FY’18, up 4% against 34.03 MnT in FY’17
2. Raipur, Central India based Integrated plants offer unaltered, offering Sponge P-DRI at INR 19,800-20,000/MT ex-plant
3. Rashmi Metaliks in Durgapur has offered Sponge P-DRI at INR 19,000/MT, according to sources.
4. Jharkhand Ispat has raised prices and the current offers hovering for Sponge C-DRI lumps at INR 20,800/MT & Sponge P-DRI at INR 19,500/MT (FeM 80 +/-1%) ex-plant, Jharkhand. The freight charges via road to Mandi Gobindgarh-Punjab reported at INR 2,500-2,700/MT.
5. Steel grade Pig iron producers in Central & Eastern India has increased offers and reported at INR 29,600-30,000/MT ex-Raipur & INR 29,000-29,400/MT ex-Durgapur
6. On daily basis around 4-6 hours power cut continues by Jindal for Punjipatra, Raigarh region, the manufacturers reported.
7. Singhal Steel has offered P-DRI at INR 19,100-19,200/MT ex-plant (Raigarh). Also offering billet at INR 33,800-33,900/MT FoR Raipur & excluding GST.
8. Sponge C-DRI 79-80 FeM lumps prices in Mandi Gobindgarh – Punjab hovering at INR 23,500-24,000/MT FoR & excluding 18% GST.
9. BMM Ispat in South India has kept offers unaltered, offering FeM 80 P-DRI lumps at INR 19,600-19,700/MT ex-Bellary, Karnataka.
10. Apple Industries in Bellary (Karnataka) offered Sponge FeM 85+ C-DRI lump at INR 22,500/MT & Billet at INR 36,200/MT ex-plant.
11. Raipur based medium mills have kept unaltered offers for Structure, Wire & Rebars. However, in Mumbai steel mills have raised Rebar & Structure prices by INR 200-300/MT over rise in billet prices.
12. Rathi Steels in North India – Delhi has rolled over Rebar prices for the day and reported 12 mm at around INR 41,600-41,700/MT, excluding 18% GST.
Reference prices as on 9th April 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Chennai | HMS(80:20) | 25,700 | 25,600 | 25,800 | 0 | 25,600 | 26,300 |
| Ex-Mumbai | HMS(80:20) | 26,000 | 25,900 | 26,100 | + 400 | 25,400 | 25,400 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 20,300 | 20,200 | 20,400 | – 100 | 19,700 | 21,600 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 20,500 | 20,400 | 20,600 | + 100 | 19,800 | 20,500 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 21,700 | 21,600 | 21,800 | + 100 | 21,300 | 21,600 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 20,400 | 20,300 | 20,500 | – 100 | 20,200 | 21,000 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 18,800 | 18,700 | 19,000 | – 200 | 18,300 | 20,500 |
| Ex-Jharsugda | Lumps, FeM 78%, +/-1 | 19,000 | 18,900 | 19,100 | – 100 | NA | NA | |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 19,900 | 19,800 | 20,000 | 0 | 19,600 | 19,900 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,700 | 19,600 | 19,800 | – 100 | 19,600 | 20,200 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 20,600 | 20,500 | 20,700 | – 200 | 20,600 | 20,700 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 36,500 | 36,400 | 36,600 | – 150 | 35,700 | 34,800 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 33,700 | 33,600 | 33,800 | – 200 | 32,500 | 32,700 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 32,500 | 32,400 | 32,600 | 0 | 31,700 | 31,500 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 33,200 | 33,100 | 33,300 | 0 | 32,600 | 31,950 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 35,600 | 35,500 | 35,700 | + 200 | 34,900 | 34,100 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 36,000 | 35,900 | 36,100 | 0 | 35,700 | 36,000 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 34,700 | 34,600 | 34,800 | 0 | 33,700 | 33,800 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 37,100 | 36,900 | 37,200 | – 200 | 36,300 | 35,700 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 34,200 | 34,100 | 34,300 | – 200 | 32,800 | 33,400 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 33,000 | 32,900 | 33,100 | + 100 | 32,400 | 32,500 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 33,900 | 33,800 | 34,000 | 0 | 33,200 | 32,900 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 35,800 | 35,800 | 35,900 | + 200 | 35,200 | 34,300 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 36,500 | 36,400 | 36,600 | 0 | 36,200 | 36,500 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 35,000 | 34,900 | 35,000 | 0 | 34,000 | 34,000 | |
| TMT | Ex-Delhi/NCR | 12MM | 39,900 | 38,700 | 40,100 | 0 | 38,900 | 38,300 |
| Ex-Durgapur | 12MM | 38,700 | 38,500 | 38,900 | 0 | 37,800 | 38,000 | |
| Ex-Raipur | 12MM | 37,600 | 37,400 | 37,800 | 0 | 37,000 | 36,400 | |
| Ex-Mumbai | 12MM | 39,600 | 39,200 | 39,700 | + 400 | 38,800 | 38,000 | |
| Ex-Chennai | 12MM | 41,000 | 40,800 | 41,200 | 0 | 41,000 | 40,500 | |
| Ex-Hyderabad | 12MM | 40,000 | 39,800 | 40,200 | + 250 | 39,500 | 39,800 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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