Indian Semis prices remain on upside, supported by strong inquiries specifically in Central, East & Western regions. As per SteelMint assessment the prices of Sponge iron have increased by INR 100-200/MT and Billet by INR 200-600/MT (USD 3-10) day-on-day.
Today’s price assessment for induction furnaces billet in Indian market stood at INR 35,000-38,400/MT (USD 522-573) ex-plant. Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 19,900-22,000/MT (USD 297-328); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 25th Apr 2018 (Wednesday) INR to USD exchange rate stood at INR 66.93
— BSE Sensex closed at 34501(-115) on Wednesday, as against last day (Tuesday) at 34,616(+165).
Key Market Updates:
— India’s largest merchant steel grade Pig iron manufacturer, Neelachal Ispat (NINL) resumes offers for steel grade pig iron in domestic market after quite some time. The latest offers for Steel (N1) grade material are assessed at INR 31,000/MT (USD 462) & for Foundry (N2) grade at INR 32,000/MT (USD 477), ex-Cuttack, Odisha.
— Rungta Mines, India’s largest private miner produced 25.25 MnT iron ore in FY18, surge by 10% Y-o-Y against 22.87 MnT in FY’17.
— According to customs data maintained with SteelMint, a vessel named ‘Binnur C’ is to export 29,500 MT mill scale from Kandla Port, India.
— Indian Government today approved the renewal of NMDC’s long term trade agreement for supply of iron ore (lumps and fines) of grade Fe 64% to Japan & South Korea for another five years (i.e. 01 Apr’18 to 31 Mar’23) through MMTC Limited.
— Raipur, Central India based Integrated plants have raised offers by INR 100/MT day-on-day and offering Sponge P-DRI at INR 19,800-20,000/MT ex-plant.
— Rashmi Metaliks in Durgapur has raised sponge prices by INR 300/MT and the current offers for P-DRI hovering at INR 20,600/MT – Sources.
— Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 21,100/MT & billet at INR 35,000/MT ex-plant.
— BMM Ispat in South India has kept offers firm and reported FeM 80 P-DRI at INR 19,000-19,100/MT ex-Bellary, Karnataka.
— The suppliers in Raipur – Central India have slightly reduced trade discount on Wire rod to 1,000-1,200/MT for 5.5 MM. The discount have been reduced in line with improved trade volume as well as high cost billets.
— Rathi Steels in North India – Delhi have increased their prices by around INR 300/MT today and offering 12 mm at INR 42,500/MT; excluding GST.
— Jalna based Rebar manufacturer enhanced price range by around INR 200/MT with rising billet & slight improved demand and current offering 12 mm Rebars at INR 39,700-40,100/MT, ex-work & excluding GST.
— Raipur Power and Steel Ltd have offered 5.5 MM Wire Rod at INR 40,600/MT, ex-Mill & excluding GST.
— East Region based – Shakambhari Ispat & Power Ltd has offered 5.5 mm Wire Rod at INR 41,000/MT, ex-work & excluding GST.
Reference prices as on 25th April 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Mumbai | HMS(80:20) | 26,000 | 25,900 | 26,100 | + 200 | 26,200 | 24,800 |
| Ex-Chennai | HMS(80:20) | 26,300 | 26,200 | 26,300 | 0 | 26,300 | 25,700 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 21,900 | 21,800 | 22,000 | + 200 | 21,800 | 20,000 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 21,000 | 20,900 | 21,100 | + 100 | 21,000 | 19,900 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 22,000 | 21,900 | 22,100 | + 100 | 22,100 | 21,050 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,900 | 19,800 | 20,000 | – 200 | 20,500 | 20,200 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 20,500 | 20,400 | 20,600 | + 200 | 20,500 | 18,600 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 19,900 | 19,800 | 20,000 | + 100 | 20,150 | 19,450 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,000 | 18,900 | 19,100 | – 100 | 19,500 | 19,600 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 19,900 | 19,800 | 20,000 | – 300 | 20,800 | 20,500 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 37,700 | 37,700 | 37,800 | + 200 | 37,500 | 35,300 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 35,500 | 35,400 | 35,600 | + 500 | 35,100 | 32,300 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 34,600 | 34,500 | 34,700 | + 400 | 34,500 | 31,400 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 34,650 | 34,600 | 34,700 | + 150 | 34,800 | 32,000 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 36,300 | 36,200 | 36,400 | + 200 | 36,100 | 34,200 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 36,500 | 36,400 | 36,600 | 0 | 36,800 | 35,400 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 36,200 | 36,100 | 36,300 | + 200 | 36,200 | 33,200 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 38,400 | 38,300 | 38,500 | + 400 | 38,100 | 36,000 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 36,000 | 35,900 | 36,000 | + 400 | 35,600 | 32,600 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 35,000 | 34,900 | 35,100 | + 500 | 34,900 | 32,200 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 35,500 | 35,400 | 35,600 | + 100 | 35,600 | 32,800 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 36,500 | 36,400 | 36,600 | + 200 | 36,300 | 34,400 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 37,000 | 37,000 | 37,300 | 0 | 37,300 | 35,900 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 36,500 | 36,300 | 36,700 | + 200 | 36,500 | 33,500 | |
| TMT | Ex-Delhi/NCR | 12MM | 41,200 | 41,000 | 41,400 | + 300 | 40,800 | 38,300 |
| Ex-Durgapur | 12MM | 40,300 | 40,100 | 40,500 | + 300 | 39,800 | 37,500 | |
| Ex-Raipur | 12MM | 39,300 | 39,100 | 39,500 | + 100 | 39,300 | 36,800 | |
| Ex-Mumbai | 12MM | 40,100 | 39,700 | 40,200 | + 300 | 40,100 | 37,800 | |
| Ex-Chennai | 12MM | 41,000 | 40,800 | 41,200 | 0 | 41,500 | 40,800 | |
| Ex-Hyderabad | 12MM | 41,000 | 40,800 | 41,200 | 0 | 41,000 | 39,000 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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