Indian Billet manufacturers reported improved domestic inquiries and have raised prices by about INR 200-400/MT (USD 3-7), day-on-day. However, Sponge iron prices slightly fluctuates by INR 100-300/MT amid better supply for the material.
As per Industry participants, Sponge iron availability has improved specifically in Central & East India due to decline consumption’s over power crisis in major markets.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 34,400-37,500/MT (USD 518-565) ex-plant. Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 20,200-21,400/MT (USD 304-322); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 23rd Apr 2018 (Monday) INR to USD exchange rate stood at INR 66.40
— BSE Sensex closed at 34,450(+35) on Monday, as against last day (Friday) at 34,415(-11).
Raw materials
— Melting scrap offers in Western India- Gujarat rise by INR 400-500/MT in a day trade activities. Further, the steel mills in Gujarat have indicated slight price rise may noticed again in local scrap (ship breaking) prices due to inappropriate availability.
Semi finished
— Raipur, Central India based Integrated plants offer unaltered, offering Sponge P-DRI at INR 19,600-19,700/MT, ex-plant
— Raigarh based Singhal Steel offered P-DRI at INR 19,500-19,600/MT FoR Raipur, an official reported. Also, the company is offering Billet at INR 34,800-34,900/MT FoR Raipur.
— Rashmi Metaliks in Durgapur has raised Sponge prices by INR 200/MT and the current offers for P-DRI hovering at INR 20,000/MT – Sources.
— 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 34,300/MT ex-plant.
— BMM Ispat in South India (Karnataka) has reduced offers for FeM 80 P-DRI by INR 300-400/MT to INR 19,000-19,100/MT ex-Bellary, an official reported.
— South India based Cauvery Iron & Steel offers FeM 80 P-DRI & billet at INR 20,000/MT & INR 36,000/MT. Also offering 28 MM Rebar at INR 38,000/MT; prices are ex-plant & excluding GST.
— Ludhiana, North India based trade participants reported steel & foundry grade pig iron offers at INR 31,900-32,000/MT & INR 33,400/MT on FoR basis & excluding GST.
— Local manufacturers in Raigarh are offering 60-14 Silico Manganese at around INR 68,500/MT ex-plant
Finish Long
— Jalna based Rebar manufacturers enhanced price range by around INR 200/MT with improving demand and offering 12 mm rebars at INR 39,200-39,600/MT, ex-work & excluding GST.
— Raipur Power and Steel Ltd have offered of Wire Rod (5.5 MM) at INR 40,100/MT, ex-mill & excluding GST.
— Rathi Steels in North India – Delhi have increased their price today by INR 500/MT and offering 12 mm rebars at INR 42,150/MT,excluding GST.
— Maharashtra, Mumbai based renowned mills have increased Structure & Rebar prices by INR 200-300/MT. As per participants, inquiries were strong today, also higher billet prices have pushed producers to raise long steel prices.
— ERW Pipes prices increased today by INR 200-400/MT amid rising billet prices in domestic market. The current basic price (48 OD Round) assessed at INR 44,400/MT ex-Mandi Gobindgarh & INR 42,100-42,200/MT ex- Raipur.
Reference prices as on 23rd April 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Mumbai | HMS(80:20) | 25,700 | 25,700 | 25,800 | – 300 | 26,200 | 24,800 |
| Ex-Chennai | HMS(80:20) | 26,300 | 26,200 | 26,400 | 0 | 26,100 | 25,800 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 21,400 | 21,300 | 21,500 | + 200 | 21,100 | 20,100 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 20,800 | 20,700 | 20,900 | + 100 | 20,900 | 20,000 | |
| Ex-Raipur | 0-20 mm, -1 mm (20-25%), FeM 82%, +/-1 | 22,900 | 22,800 | 23,000 | 0 | 23,300 | 21,700 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 20,200 | 20,100 | 20,300 | – 100 | 20,500 | 20,300 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 20,000 | 19,900 | 20,100 | + 100 | 19,700 | 18,600 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 19,600 | 19,500 | 19,700 | 0 | 20,200 | 19,600 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,100 | 19,000 | 19,200 | – 400 | 19,800 | 19,800 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 20,300 | 20,200 | 20,400 | – 300 | 20,900 | 20,500 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 37,100 | 37,000 | 37,200 | + 600 | 37,200 | 34,800 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 34,800 | 34,700 | 34,900 | + 300 | 34,700 | 32,200 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 34,000 | 33,900 | 34,100 | + 100 | 34,000 | 31,200 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 34,100 | 34,000 | 34,200 | + 300 | 35,000 | 31,850 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 35,600 | 35,500 | 35,800 | + 300 | 35,800 | 34,100 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 36,500 | 36,400 | 36,600 | 0 | 36,500 | 35,500 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 36,000 | 35,700 | 36,200 | + 300 | 35,700 | 33,700 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 37,500 | 37,400 | 37,700 | + 400 | 38,000 | 35,500 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 35,250 | 35,200 | 35,300 | + 250 | 35,400 | 32,600 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 34,400 | 34,300 | 34,500 | + 200 | 34,500 | 32,000 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 34,900 | 34,800 | 35,000 | + 300 | 35,650 | 32,700 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 35,900 | 35,800 | 35,900 | + 400 | 36,100 | 34,300 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 37,000 | 37,000 | 37,300 | 0 | 37,000 | 36,000 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 36,300 | 36,000 | 36,500 | + 300 | 36,000 | 34,000 | |
| TMT | Ex-Delhi/NCR | 12MM | 40,900 | 40,700 | 41,100 | + 500 | 40,600 | 38,000 |
| Ex-Durgapur | 12MM | 39,600 | 39,400 | 38,800 | + 100 | 39,800 | 37,400 | |
| Ex-Raipur | 12MM | 38,900 | 38,700 | 39,100 | + 200 | 39,300 | 36,700 | |
| Ex-Mumbai | 12MM | 39,500 | 39,100 | 39,600 | + 100 | 40,100 | 38,000 | |
| Ex-Chennai | 12MM | 41,000 | 40,800 | 41,200 | 0 | 41,400 | 40,800 | |
| Ex-Hyderabad | 12MM | 41,000 | 40,800 | 41,200 | + 250 | 41,000 | 39,500 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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