In the week opening, domestic Semi finished market trends were subdued as the prices of Sponge iron fell slightly by INR 100-300/MT while billet offers increased in the same proportion, day-on-day.
As per market participants, volatility prevails in the market over shortage of ready delivery material amid power cut problems.
The latest price assessment for induction furnaces billet in Indian market stood at INR 34,500-38,000/MT (USD 526-580) ex-plant. Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 20,500-22,100/MT (USD 312-337); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 16th Apr 2018 (Monday) INR to USD exchange rate stood at INR 65.45
— BSE Sensex closed at 34,305(+112) on Monday, as against last day (Friday) at 34,192(+91).
Raw materials
— NMDC- India’s largest iron ore miner had conducted auction from its Chhattisgarh mines on 13th Apr’18 for 40,000 MT calibrated lump ore, 32,000 MT ROM, 60,000 MT iron ore lump and 48,000 MT iron ore fines. As per sources the auction received poor response.
— Four bulk scrap vessels carrying around 120,000 MT scrap likely to land Indian port by Mid – May 2018. The buyer for the material reported a West coast – Gujarat based major Billet manufacturer.
Semi finished
— Raipur, Central India based Integrated plants offers reduced by INR 200-300/MT D-o-D, offering Sponge P-DRI at INR 20,100-20,200/MT ex-plant.
— Steel grade pig iron offers by a Durgapur based manufacturer reported at INR 30,300-30,500/MT (ex-plant) amid average inquiries.
— Rashmi Metaliks in Durgapur has raised sponge prices by INR 200/MT and the current offers for P-DRI hovering at INR 19,700-19,800/MT – Sources.
— Jharkhand Ispat has raised prices and reported Sponge C-DRI lumps (80 FeM) at INR 21,500/MT & Billet at INR 35,500/MT ex-plant, Jharkhand.
— Rourkela – Odisha based a manufacturer sold FeM 80 C-DRI lumps to Punjab – Mandi Gobindgarh at INR 21,300/MT ex-plant. The producer mentioned, Semis prices likely to remain upsurge as demand is strong and also most of mills don’t have ready stock.
— Ganesh Metaliks offered Billet at INR 34,600/MT ex-plant, Odisha, an official reported.
— Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 20,800-20,900/MT & billet at INR 34,500/MT ex-plant.
— Sources reported, recent a deal of a rake commercial grade billet (100×100) concluded to Nepal at USD 537/MT (Loaded to wagon) by East India based manufacturer.
— BMM Ispat in Karnataka has offered sponge P-DRI at INR 19,800-19,900/MT and Sunvik Steels sponge C-DRI lumps at INR 21,300/MT. Both offers for FeM 80, excluding GST & ex-plant basis.
— BIOP Steels in South India has increased sponge offers by around INR 200/MT and offering FeM 80 & 82 C-DRI lumps at INR 20,900/MT & INR 21,400/MT ex-plant, Karnataka; Majorly deals concluded for Jalna (Maharashtra) market, an official reported.
Finish Long
— Rathi Steels in North India – Delhi has unchanged their rebar price today and offering 12 mm at INR 42,400/MT excluding 18% GST.
— Jalna based rebar manufacturer Rajuri Steel Pvt Ltd offering basic rebar at INR 37,500/MT, ex-work & excluding GST. The prices are similar against trades on Saturday-Sunday (14-15th Apr)
— South India based – VRKP Steel (VRKP tmt) offering rebars 8 mm at INR 52,100/MT ex-work & including GST.
— Tulsyan NEC Steel (Tulsyan) based in Chennai has increased their price by INR 500/MT & offering 12mm Rebars at INR 42,000/MT ex-plant & excluding GST.
— Raipur Power and Steel Ltd offering Wire Rod (5.5 MM) at INR 40,200/MT & Raw Pellet at INR 6,200/MT ex-mill & excluding GST.
— The suppliers in Raipur have keep unchanged trade discount on Wire rod at INR 800-1,000/MT.
— Raipur based structure manufacturers have unaltered prices for both light & heavy sizes.
Reference prices as on 16th April 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Chennai | HMS(80:20) | 26,100 | 26,000 | 26,200 | + 300 | 25,700 | 26,000 |
| Ex-Mumbai | HMS(80:20) | 26,200 | 26,100 | 26,300 | + 200 | 26,000 | 25,400 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 21,100 | 21,000 | 21,200 | 0 | 20,300 | 21,300 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 20,900 | 20,800 | 21,000 | – 100 | 20,500 | 20,500 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 22,100 | 22,000 | 22,200 | 0 | 21,700 | 21,600 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 20,500 | 20,400 | 20,600 | 0 | 20,400 | 21,000 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 19,700 | 19,600 | 19,800 | + 100 | 18,800 | 20,000 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 20,200 | 20,100 | 20,300 | – 250 | 19,900 | 20,000 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,800 | 19,700 | 19,900 | – 200 | 19,700 | 20,200 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 20,900 | 20,800 | 21,000 | 0 | 20,600 | 20,700 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 37,200 | 37,100 | 37,300 | + 100 | 36,500 | 35,500 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 34,700 | 34,600 | 34,800 | 0 | 33,700 | 32,900 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 34,000 | 33,900 | 34,100 | 0 | 32,500 | 31,700 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 35,000 | 34,900 | 35,000 | + 100 | 33,200 | 32,300 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 35,800 | 35,700 | 35,900 | – 200 | 35,600 | 34,200 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 36,500 | 36,400 | 36,600 | + 250 | 36,000 | 35,500 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 35,700 | 35,600 | 35,800 | 0 | 34,700 | 34,700 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 38,000 | 37,800 | 38,100 | + 200 | 37,100 | 36,200 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 35,400 | 35,300 | 35,500 | 0 | 34,200 | 33,200 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 34,500 | 34,400 | 34,600 | + 100 | 33,000 | 32,700 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 35,650 | 35,600 | 35,700 | + 150 | 33,900 | 33,200 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 36,100 | 36,000 | 36,200 | – 100 | 35,800 | 34,400 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 37,000 | 36,900 | 37,100 | + 250 | 36,500 | 36,000 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 36,000 | 35,800 | 36,000 | 0 | 35,000 | 35,000 | |
| TMT | Ex-Delhi/NCR | 12MM | 40,600 | 40,400 | 40,800 | 0 | 39,900 | 38,800 |
| Ex-Durgapur | 12MM | 39,800 | 39,600 | 39,000 | 0 | 38,700 | 38,000 | |
| Ex-Raipur | 12MM | 39,300 | 39,100 | 39,500 | – 100 | 37,600 | 37,400 | |
| Ex-Mumbai | 12MM | 40,100 | 39,700 | 40,200 | 0 | 39,600 | 38,200 | |
| Ex-Chennai | 12MM | 41,400 | 41,400 | 42,000 | + 400 | 41,000 | 41,000 | |
| Ex-Hyderabad | 12MM | 41,000 | 40,800 | 41,200 | + 250 | 40,000 | 40,250 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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