Today India’s Central & East regions observed slowdown in inquiries resulting slight fall in prices for both Sponge iron & Billets by INR 100-300/MT.
However, slight price rise in billets being observed in Gujarat by INR 200/MT & in Hyderabad by INR 500/MT. The producers in these markets reported short supply in ready delivery billets and also slight rise in long steel inquiries.
The latest price assessment for induction furnaces billet in Indian market stood at INR 34,800-38,000/MT (USD 528-578) ex-plant. Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 20,500-22,000/MT (USD 312-334); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 19th Apr 2018 (Thursday) INR to USD exchange rate stood at INR 65.80
— BSE Sensex closed at 34,427(+95) on Thursday, as against last day (Wednesday) at 34,331(-63).
Raw materials
— NMDC cuts iron ore prices on rising supply in domestic market. Baila lump and fines prices slashed by INR 100/MT
— Indian ferrous scrap imports fall 15% Y-o-Y in 2017 & stood at 4.57 MnT as against 5.35 MnT in CY16
Semi finished
— Jindal Steel offering Granulated Pig iron (Panther shots) at INR 29,500/MT ex-plant, Angul, Odisha. The company also offering Pig iron from its Raigarh unit at INR 31,000-31,200/MT ex-plant. As per the officials, monthly merchant sale for Panther shots is about 30,000-40,000 MT.
— Durgapur based Neo Metaliks has increased offers by INR 500/MT and are offering Steel grade pig iron at INR 31,500/MT excluding GST. Girdih based a merchant producer have also increased offers by INR 500/MT over increased inquiries and less inventories. The latest offers are reported at INR 31,500/MT ex-plant & excluding GST.
— Raipur, Central India based Integrated plants have reduced sponge prices and offered P-DRI at INR 19,800-19,900/MT against INR 20,000-20,100/MT yesterday; ex-plant
— Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 21,000/MT & Billet at INR 35,000/MT ex-plant; an official added.
— Odisha based manufacturer, Ganesh Metaliks offered Billet at INR 34,800/MT ex-plant – officials.
— Jindal Steel’s power cut remained by about 60-70% in Raigarh-Punjipatra based steel plants as per the manufacturers.
— BIOP Steels in South India has offered FeM 80 & 82 C-DRI lumps at INR 20,800/MT & INR 21,300/MT ex-plant, Karnataka; an official reported.
Finish Long
— Jalna based rebar manufacturer – Rajuri Steel Pvt Ltd offering basic rebar at INR 37,400/MT, ex-work & excluding GST.
— Kalika Steel Alloys in Jalna reduced their prices by INR 200-300/MT d-o-d basis & offering 28 mm rebars at INR 37,400/MT, ex-work & excluding GST.
— Rathi Steels in North India – Delhi have unchanged their price today and offering 12 mm rebars at INR 42,400/MT, excluding GST.
— South Based BMM Ispat offering Rebar 10-25 MM at INR 42,700/MT, ex-work & excluding GST.
— Ghandhidham based Billet producer selling billet to Mandi Gobindgarh (Punjab) at INR 36,200/MT ex-work and freight cost around INR 2,000-2,200/MT.
Reference prices as on 19th April 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Mumbai | HMS(80:20) | 26,200 | 26,100 | 26,300 | 0 | 26,000 | 24,900 |
| Ex-Chennai | HMS(80:20) | 26,300 | 26,200 | 26,400 | 0 | 25,800 | 25,900 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 21,600 | 21,500 | 21,700 | – 200 | 21,000 | 20,800 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 20,900 | 20,800 | 21,000 | – 100 | 20,900 | 20,100 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 22,000 | 21,900 | 22,100 | – 100 | 22,200 | 21,300 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 20,500 | 20,400 | 20,600 | 0 | 20,700 | 20,700 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 20,400 | 20,300 | 20,500 | – 100 | 19,500 | 19,200 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 19,800 | 19,700 | 19,900 | – 350 | 20,500 | 19,700 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,500 | 19,400 | 19,600 | 0 | 20,000 | 20,100 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 20,800 | 20,700 | 20,900 | 0 | 20,900 | 20,600 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 37,400 | 37,300 | 37,500 | – 100 | 37,000 | 34,900 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 35,000 | 34,900 | 35,100 | – 100 | 34,500 | 32,300 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 34,400 | 34,300 | 34,500 | – 100 | 33,700 | 31,300 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 34,650 | 34,600 | 34,700 | – 150 | 34,500 | 31,800 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 36,000 | 35,900 | 36,100 | – 100 | 36,000 | 34,000 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 36,600 | 36,500 | 36,700 | – 200 | 36,000 | 35,500 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 36,700 | 36,600 | 36,800 | + 500 | 35,400 | 34,200 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 38,000 | 37,900 | 38,200 | – 100 | 37,600 | 35,700 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 35,300 | 35,200 | 35,400 | – 300 | 35,200 | 32,800 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 34,800 | 34,700 | 34,900 | – 100 | 34,200 | 32,300 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 35,300 | 35,200 | 35,400 | – 300 | 35,200 | 32,750 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 36,200 | 36,100 | 36,300 | – 100 | 36,200 | 34,200 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 37,000 | 37,000 | 37,300 | – 300 | 36,500 | 36,000 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 37,000 | 36,800 | 37,000 | + 500 | 35,750 | 34,500 | |
| TMT | Ex-Delhi/NCR | 12MM | 40,800 | 40,600 | 41,000 | 0 | 40,600 | 38,800 |
| Ex-Durgapur | 12MM | 39,800 | 39,600 | 39,000 | 0 | 39,600 | 37,400 | |
| Ex-Raipur | 12MM | 39,200 | 39,000 | 39,400 | – 100 | 38,900 | 36,600 | |
| Ex-Mumbai | 12MM | 39,800 | 39,400 | 39,900 | – 300 | 40,000 | 37,900 | |
| Ex-Chennai | 12MM | 41,300 | 41,000 | 41,400 | – 200 | 41,000 | 41,000 | |
| Ex-Hyderabad | 12MM | 41,500 | 41,300 | 41,700 | + 500 | 40,500 | 40,000 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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