Indian Semi-finished prices declined today over poor inquiries with the manufacturers. As per assessment, the prices fell of Sponge iron by INR 100-200/MT & Billet upto INR 400/MT (USD 6), day-on-day.
The latest price assessment for induction furnaces billet in Indian market stood at INR 35,300-39,100/MT (USD 529-586) ex-plant. Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 19,500-23,000/MT (USD 292-345); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 3rd May 2018 (Thursday) INR to USD exchange rate stood at INR 66.71
— BSE Sensex closed at 35,103(-73) on Thursday, as against last day (Wednesday) at 35,176(+16).
Raw materials
— Odisha based merchant miner, Essel Mining has recently announced price cut of INR 100/MT from its Koira and Jilling mines in both lumps and fines.
— KIOCL invites tender for supply of 50,000 DMT Iron Ore Concentrate – Haematite from reputed Indigenous Iron ore Suppliers. The due date for bid submission is 14th May’18.
Semis finished
— Tata Metaliks, India’s one of the largest foundry grade pig iron manufacturer has raised its prices by INR 800/MT (USD 12) & reported at INR 33,800/MT for high silicon, foundry grade Pig iron – as per sources.
— Jindal Steel has raised prices for Granulated Pig iron (Panther shots) to INR 30,000/MT ex-plant, Odisha & Pig iron (Steel grade) at INR 31,500/MT ex-plant, Raigarh.
— Durgapur based Neo Metaliks has reported latest offers for steel grade Pig iron at around INR 33,000/MT & Foundry grade at INR 34,000/MT, ex-plant. These prices increased by INR 500-1,000/MT (USD 8-15) against SteelMint’s last assessment of Durgapur which made on 1st May’18.
— Girdih based Atibir Industries, a merchant Pig iron supplier has reported steel grade pig iron trades are at INR 32,500/MT ex-plant & excluding GST.
— Indian sponge iron export offers to Bangladesh price for lumps of grade FeM 78-80, recorded at USD 365-370/MT CPT Benapole (dry land port of Bangladesh & India) and USD 385-390/MT CFR Chittagong, Bangladesh.
— Raipur, Central India based Integrated plants have unchanged offers for Sponge P-DRI at INR 20,300-20,400/MT ex-plant.
— Sources reported, few Raigarh based furnace owners are getting offers of FeM 80 C-DRI mix material from Odisha at around INR 21,600/MT on FoR basis.
— Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 21,300/MT & billet at INR 35,800-36,000/MT ex-plant.
— Odisha based trade participant reported, Billet purchase from Raigarh (Central India).
— BMM Ispat in Karnataka has offered sponge P-DRI at INR 18,600-18,700/MT and Sunvik Steels sponge C-DRI lumps at INR 20,400/MT. Both offers for FeM 80, excluding GST & ex-plant basis.
— BIOP Steels in South India has offered FeM 80 & 82 C-DRI lumps at INR 20,300/MT & INR 20,700/MT ex-plant, Karnataka; an official reported.
— Bellary, Karnataka based furnace owners selling billet to Chennai (Tamil Nadu) at around INR 36,500/MT on FoR basis.
Finish long
— Rathi Steels in North India – Delhi have increased their prices by INR 100/MT d-o-d basis and current offering at INR 43,500/MT, size – 12 mm & excluding 18% GST.
— The suppliers in Raipur have slightly raised trade discount on Wire rod due to limited inquiry, size – 5.5 MM by around INR 1,000-1,200/MT.
— Gujarat based Shreeyam Power & Steel Industries Ltd branding as National TMT has offered basic rebar at INR 48,500/MT FoR & including GST at 18%, Size – 20 mm.
— Gujarat Based, Keyur Ispat Ltd offering basic rebar at INR 48,500/MT FoR & including GST at 18%, Size – 20 mm & Billet at INR 37,000/MT excluding GST.
— Mumbai, Maharashtra based Guardian TMT have unchanged rebars prices today and current offering INR 40,900/MT (12 mm) ex-work & excluding GST.
Reference prices as on 3rd May 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Chennai | HMS(80:20) | 26,200 | 26,100 | 26,300 | – 200 | 26,300 | 25,700 |
| Ex-Mumbai | HMS(80:20) | 26,800 | 26,700 | 26,900 | + 100 | 26,100 | 25,600 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 23,000 | 22,900 | 23,100 | – 200 | 22,000 | 19,700 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 21,200 | 21,100 | 21,300 | – 100 | 20,900 | 20,100 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 22,400 | 22,300 | 22,500 | 0 | 22,000 | 21,250 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,500 | 19,400 | 19,600 | – 200 | 19,800 | 20,400 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 21,500 | 21,400 | 21,600 | – 200 | 20,600 | 18,100 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 20,400 | 20,300 | 20,500 | + 100 | 19,900 | 19,750 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 18,700 | 18,600 | 18,800 | – 100 | 19,000 | 19,800 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 19,400 | 19,300 | 19,500 | – 300 | 19,900 | 20,700 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 38,400 | 38,300 | 38,500 | – 400 | 38,000 | 35,900 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 36,400 | 36,300 | 36,500 | – 300 | 35,600 | 32,700 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 35,000 | 34,900 | 35,100 | – 200 | 34,600 | 32,000 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 34,800 | 34,700 | 34,900 | – 200 | 34,600 | 32,600 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 36,600 | 36,500 | 36,700 | – 400 | 36,100 | 35,000 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 36,500 | 36,400 | 36,600 | 0 | 36,500 | 35,900 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 36,000 | 35,700 | 36,200 | 0 | 36,200 | 34,700 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 39,100 | 39,000 | 39,200 | – 400 | 38,600 | 36,600 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 36,800 | 36,700 | 36,900 | – 400 | 36,100 | 33,200 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 35,800 | 35,700 | 35,900 | 0 | 35,000 | 32,500 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 35,800 | 35,700 | 35,900 | – 200 | 35,600 | 33,300 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 37,100 | 37,000 | 37,100 | – 300 | 36,300 | 35,200 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 37,000 | 37,000 | 37,300 | 0 | 37,000 | 36,400 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 36,250 | 36,200 | 36,250 | 0 | 36,500 | 35,000 | |
| TMT | Ex-Delhi/NCR | 12MM | 42,200 | 42,100 | 42,400 | 0 | 41,200 | 39,400 |
| Ex-Durgapur | 12MM | 41,500 | 41,300 | 41,700 | 0 | 40,300 | 38,000 | |
| Ex-Raipur | 12MM | 39,600 | 39,400 | 39,800 | – 200 | 39,400 | 37,000 | |
| Ex-Mumbai | 12MM | 40,900 | 40,500 | 41,000 | 0 | 40,100 | 38,900 | |
| Ex-Chennai | 12MM | 41,200 | 41,000 | 41,400 | 0 | 40,800 | 41,000 | |
| Ex-Hyderabad | 12MM | 40,750 | 40,500 | 41,000 | 0 | 41,000 | 39,850 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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