Indian Semi finished prices increased further over improved demand and as per SteelMint assessment the prices rise in Sponge iron by INR 100-300/MT & Billet by INR 200-500/MT, day-on-day.
The mill owners in Central & East India also stated that “inquiries are quite strong which was slowdown during the last week-end, hence prices raised sharply.”
The latest price assessment for induction furnaces billet in Indian market stood at INR 34,500-38,000/MT (USD 518-572) ex-plant. Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 20,200-21,400/MT (USD 303-322); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 24th Apr 2018 (Tuesday) INR to USD exchange rate stood at INR 66.45
— BSE Sensex closed at 34,616(+165) on Tuesday, as against last day (Monday) at 34,450(+35).
Key Market Updates
— Domestic melting scrap offers rise – Mumbai & Jalna by INR 100/MT, Alang INR 500/MT, Durgapur INR 300/MT, Mandi Gobindgarh & Ludhiana by INR 200-300/MT, as per SteelMint’s daily assessment
— Goa based plants recently booked 20 ft containerised melting scrap at USD 351/MT, 20 MT loading from West Africa & arrival period would be approximate 45-60 days.
— Raipur Sponge DR-CLO largely selling to out states (MP & Maharashtra), as per manufacturers. The offers quoted for 0-20mm Sponge DR-CLO at INR 22,900-23,200/MT (ex-plant) on advance payment.
— Rashmi Metaliks based in Durgapur has raised sponge prices by INR 300-400/MT and the latest offers heard for P-DRI at INR 20,300-20,400/MT ex-works & excluding GST.
— Odisha based medium size sponge manufacturers selling FeM 80 C-DRI (70:30 mix material) at INR 22,000/MT FoR Raipur & 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 19,000-19,100/MT ex-Bellary, Karnataka.
— Durgapur based merchant Pig iron producer – Neo Metaliks has increased offers by INR 500/MT and offering Steel grade Pig iron at INR 32,000/MT, excluding GST.
— Girdih based Atibir Industries, a merchant Pig iron supplier has kept offers firm amid average inquiries. The steel grade trades are reported at INR 31,500/MT ex-plant & excluding GST.
— Raipur – Central India based suppliers have offered steel grade Pig iron at around INR 31,500/MT FoR & excluding GST.
— Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 20,800/MT & billet at INR 34,600/MT ex-plant. Prices incline by 100-200/MT D-o-D
— The medium mills in Raipur & Mumbai have increased Structure & Rebar prices by INR 200-400/MT following improved inquiries and sharp surge in domestic billet prices.
— The suppliers in Raipur have slightly increased trade discount on Wire rod, size – 5.5 MM to around INR 1,200-1,400/MT.
— Rathi Steels in North India – Delhi have unchanged their price today and offering 12 mm rebars at INR 42,100-42,200/MT, excluding 18% GST.
— Steel mills in Gujarat have indicated less chances of down trend in Alang Scrap as trade supports at this price level along with low availability.
Reference prices as on 24th April 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Mumbai | HMS(80:20) | 25,800 | 25,700 | 25,900 | + 100 | 26,200 | 24,700 |
| Ex-Chennai | HMS(80:20) | 26,300 | 26,200 | 26,300 | 0 | 26,300 | 25,700 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 21,700 | 21,600 | 21,800 | + 300 | 21,500 | 19,900 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 20,900 | 20,800 | 21,000 | + 100 | 20,900 | 19,900 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 21,900 | 21,800 | 22,000 | NA | 22,100 | 21,000 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 20,100 | 20,000 | 20,200 | – 100 | 20,500 | 20,300 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 20,300 | 20,300 | 20,400 | + 300 | 20,200 | 18,500 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 19,800 | 19,700 | 19,900 | + 200 | 20,200 | 19,400 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,100 | 19,000 | 19,200 | 0 | 19,600 | 19,700 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 20,200 | 20,100 | 20,300 | – 100 | 20,800 | 20,500 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 37,500 | 37,400 | 37,600 | + 400 | 37,400 | 35,100 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 35,000 | 34,900 | 35,100 | + 200 | 34,800 | 32,200 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 34,200 | 34,100 | 34,300 | + 200 | 34,300 | 31,300 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 34,500 | 34,400 | 34,600 | + 400 | 34,900 | 31,950 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 36,100 | 36,000 | 36,200 | + 500 | 36,100 | 34,100 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 36,500 | 36,400 | 36,600 | 0 | 36,800 | 35,500 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 36,000 | 35,700 | 36,300 | + 300 | 36,000 | 33,700 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 38,000 | 37,900 | 38,200 | + 500 | 38,000 | 35,800 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 35,600 | 35,500 | 35,700 | + 350 | 35,500 | 32,600 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 34,500 | 34,400 | 34,600 | + 100 | 34,700 | 32,200 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 35,400 | 35,200 | 35,500 | + 500 | 35,600 | 32,800 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 36,300 | 36,200 | 36,400 | + 400 | 36,300 | 34,300 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 37,000 | 37,000 | 37,300 | 0 | 37,300 | 36,000 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 36,300 | 36,000 | 36,500 | 0 | 36,250 | 34,000 | |
| TMT | Ex-Delhi/NCR | 12MM | 40,900 | 40,700 | 41,100 | 0 | 40,800 | 38,000 |
| Ex-Durgapur | 12MM | 40,000 | 39,800 | 40,200 | + 400 | 39,800 | 37,400 | |
| Ex-Raipur | 12MM | 39,200 | 39,000 | 39,400 | + 300 | 39,300 | 36,800 | |
| Ex-Mumbai | 12MM | 39,800 | 39,400 | 39,900 | + 300 | 40,100 | 37,800 | |
| Ex-Chennai | 12MM | 41,000 | 40,800 | 41,200 | 0 | 41,500 | 41,000 | |
| Ex-Hyderabad | 12MM | 41,000 | 40,800 | 41,200 | 0 | 41,000 | 39,500 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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