Today, Indian Semi finished prices increase further and stood all time high since 2010 over strong trade activities. As per SteelMint assessment, the prices surge for Sponge iron by INR 100-400/MT & Billet by INR 200-600/MT day-on-day.
The latest price assessment for induction furnaces billet in Indian market stood at INR 34,200-37,600/MT (USD 523-576) ex-plant. Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 20,700-22,200/MT (USD 316-340); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 12th Apr 2018 (Thursday) INR to USD exchange rate stood at INR 65.27
— BSE Sensex closed at 34,101(+160) on Thursday, as against last day (Wednesday) at 33,940(+60).
Raw materials
— Indian pellet exports have seen a marked rise of 68% Y-o-Y to 9.68 MnT as against 5.79 MnT in CY’16, as per customs.
— KIOCL has recently concluded a deal for 50,000 MT pellets via limited tender. As per sources the deal has been concluded at USD 105/MT, FoB basis.
— Essar Steel procured 0.92 MnT of iron ore in Mar’18 from NMDC’s Bailadila mines in Chhattisgarh via slurry pipeline, which stood 53% up as against 0.60 MnT in Feb’18.
— Indian coal imports from South Africa’s premium port Richards Bay (RBCT), was down 10% on the month to 2.48 MnT in Mar’18
Semi finished
— Raipur, Central India based Integrated plants offers increased by INR 100/MT D-o-D, offering Sponge P-DRI at INR 20,500-20,600/MT ex-plant.
— Odisha Sponge C-DRI, FeM 80 offers hovering at INR 21,400-21,500/MT FoR Raigarh & INR 22,000-22,100/MT FoR Raipur & excluding GST.
— Raigarh based Singhal Steel offered P-DRI at INR 20,500/MT FoR Raipur, an official reported. Also, the company sold Billet to Raipur at INR 35,200-35,300/MT FoR.
— As per sources, Rashmi Metaliks in Durgapur has increased Sponge prices by INR 200-300/MT and offered P-DRI at INR 19,500/MT.
— East India, Durgapur based private pig iron producers have increased prices to INR 30,300-30,500/MT and the last deals reported at INR 30,000-30,200/MT ex-plant. The prices increased in line with sharp surge in billet prices and also due to limited supply by most of merchant pig iron producers.
— Ganesh Metaliks in Odisha has offered billet at INR 34,400/MT ex-plant, an official reported. And added, they have hold their fresh export deals due to better realization in domestic market.
— Odisha based medium size sponge manufacturers have raised prices by INR 200-300/MT and reported FeM 80 C-DRI (70:30 mix material) at INR 20,800-21,000/MT ex-plant & excluding GST.
— BMM Ispat a price trend setter in South Indian sponge market has kept offers unaltered today and offering FeM 80 P-DRI lumps at INR 19,900-20,000/MT ex-Bellary, Karnataka.
— BIOP Steels in South India has increased sponge offers by around INR 200-300/MT and offering FeM 80 & 82 C-DRI lumps at INR 20,700/MT & INR 21,200/MT ex-plant, Karnataka; an official reported.
— South India based Cauvery Iron & Steel offers FeM 80 P-DRI & billet at INR 20,800/MT & INR 35,500/MT. Also offering 28 MM Rebar at INR 38,000/MT. prices are ex-plant & excluding GST.
Finish Long
— Rathi Steels in North India – Delhi has increased their price by INR 500/MT today and current offering at INR 42,400/MT, size – 12 mm & excluding 18% GST.
— Jalna based Rebar manufacturers increased price level by around INR 300/MT with rise in Billet along with improved demand today and current offering 12 mm rebars at INR 39,400-39,800/MT, ex-work & excluding GST.
— The suppliers in Raipur have unchanged trade discount on Wire rod to around INR 600-800/MT.
— Raipur Power and Steel Ltd offering Wire Rod (5.5 MM) at INR 40,000/MT & Raw Pellet at INR 6,200/MT Ex-Mill & Excluding GST.
— Goa based plants recently booked 20 ft containerized melting scrap at USD 351/MT, 20 MT loading from West Africa & arrival period would be approximate 45-60 days.
Reference prices as on 12th April 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Hyderabad | HMS(80:20) | 22,600 | 22,500 | 22,700 | + 100 | 22,500 | 22,200 |
| Ex-Mumbai | HMS(80:20) | 26,000 | 25,900 | 26,100 | + 100 | 25,600 | 25,400 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 21,000 | 20,900 | 21,100 | + 400 | 19,700 | 21,100 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 20,900 | 20,800 | 21,000 | + 100 | 20,100 | 20,200 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 22,200 | 22,100 | 22,300 | + 100 | 21,250 | 21,600 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 20,700 | 20,600 | 20,800 | + 100 | 20,400 | 20,900 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 19,500 | 19,400 | 19,600 | + 300 | 18,100 | 20,000 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 20,500 | 20,400 | 20,600 | + 100 | 19,750 | 19,900 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 20,000 | 19,900 | 20,100 | 0 | 19,800 | 20,100 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 20,900 | 20,800 | 21,000 | 0 | 20,700 | 20,700 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 37,000 | 36,900 | 37,100 | 0 | 35,900 | 34,800 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 34,500 | 34,400 | 34,600 | + 200 | 32,700 | 32,500 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 33,700 | 33,600 | 33,800 | + 300 | 32,000 | 31,400 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 34,500 | 34,400 | 34,600 | + 400 | 32,600 | 32,100 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 36,000 | 35,900 | 36,100 | + 600 | 35,000 | 34,700 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 36,000 | 35,900 | 36,100 | 0 | 35,900 | 35,500 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 35,400 | 35,200 | 35,500 | + 200 | 34,700 | 33,800 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 37,600 | 37,500 | 37,800 | – 100 | 36,600 | 35,500 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 35,200 | 35,100 | 35,300 | + 300 | 33,200 | 33,000 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 34,200 | 34,100 | 34,300 | + 400 | 32,500 | 32,200 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 35,200 | 35,100 | 35,300 | + 300 | 33,300 | 32,900 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 36,200 | 36,100 | 36,200 | + 600 | 35,200 | 34,900 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 36,500 | 36,400 | 36,600 | 0 | 36,400 | 36,000 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 35,750 | 35,500 | 36,000 | + 250 | 35,000 | 34,000 | |
| TMT | Ex-Delhi/NCR | 12MM | 40,600 | 40,500 | 40,800 | + 500 | 39,400 | 38,000 |
| Ex-Durgapur | 12MM | 39,600 | 39,400 | 39,800 | + 300 | 38,000 | 37,700 | |
| Ex-Raipur | 12MM | 38,900 | 38,700 | 39,100 | + 700 | 37,000 | 36,600 | |
| Ex-Mumbai | 12MM | 40,000 | 39,600 | 40,100 | + 400 | 38,900 | 38,400 | |
| Ex-Chennai | 12MM | 41,000 | 40,700 | 41,100 | 0 | 41,000 | 40,700 | |
| Ex-Hyderabad | 12MM | 40,500 | 40,300 | 40,700 | + 250 | 39,850 | 39,700 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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