The Indian Semis manufacturers in major markets stated decline in spot trade volumes as the inquiries was limited. As per SteelMint’s daily assessment, Billet prices have declined by INR 100-500/MT, although slight price fluctuation have been noticed in Sponge iron by INR 100-200/MT.
As per participants, the re-rollers are cautious for fresh purchases due to weakening demand in finished products.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 34,400-38,000/MT (USD 511-565) ex-plant. Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 19,700-21,700/MT (USD 292-323); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 11th May 2018 (Friday) INR to USD exchange rate stood at INR 67.30
— BSE Sensex closed at 35,535(+289) on Friday, as against last day (Thursday) at 35,246(-73).
Raw materials
— KIOCL concludes 50,000 MT pellet export tender at USD 106/MT FoB. Cargo likely to be shipped to Non-Chinese destination
— Sri Jagannath Steel & Power- a subsidiary under KJS Ahluwalia group, has offered pellet at INR 4,800/MT (ex-plant), around INR 500-600/MT would be charged extra for loaded to wagons basis.
Semi finished
— Indian steel major SAIL has successfully blown in its first blast furnace ‘Parvati’ situated at Rourkela Steel Plant (RSP), Odisha
— Raipur, Central India based Integrated plants has raised prices and offering Sponge P-DRI at INR 19,600-19,700/MT ex-plant.
— Durgapur based Rashmi Metaliks has offered Sponge P-DRI at INR 20,500/MT & Billet at INR 35,500/MT – Sources.
— Girdih based Atibir Industries, a merchant Pig iron supplier has kept offers firm amid average inquiries. The steel grade offers reported at INR 31,500/MT ex-plant & excluding GST.
— Raigarh based Singhal Steel offered P-DRI at INR 19,000/MT ex-plant. Also, the company is offering Billet at INR 35,000/MT FoR Raipur. Limited trade activities reported through the officials.
— Jharkhand based Aloke Steel Industries offered Fem 78-80 C-DRI lumps at INR 22,200/MT & Sponge mix material (60:40) at INR 21,700/MT ex-plant
— Govindam Sponge, an Odisha based plant offered FeM 80 sponge fines at INR 20,600-20,700/MT ex-plant. However, no deals have been reported.
— BMM Ispat in South India has kept offers firm and reported FeM 80 P-DRI at INR 18,600-18,700/MT ex-Bellary, Karnataka. Officials mentioned that they have sold about 2,000-3,000 MT P-DRI to Hyderabad.
— Hare Krishna, a 300 TPD sponge manufacturer in Bellary, Karnataka has offered FeM 80 P-DRI at INR 18,800-19,000/MT ex-plant, an official reported.
— Local manufacturers in Raigarh are offering 60-14 Silico Manganese at around INR 63,500/MT ex-plant
Finish Long
— Jalna based rebar manufacturer – SRJ Peety Steels Pvt Ltd branding Shree Om TMT has increased prices by INR 100/MT on day basis and offering basic rebar at INR 38,600/MT, ex-work & excluding GST.
— South Region based – VRKP Steel Industry Pvt Ltd – VRKP tmt increased prices by INR 200/MT on day basis and 8mm rebars at INR 50,700/MT, ex-work & including GST.
— Mumbai, Maharashtra based Guardian TMT have increase their rebar price by INR 100/MT and offering 12 mm rebar at INR 40,700/MT, ex-work & excluding GST.
— East Region Based – Shakambhari Ispat & Power Ltd has offered Wire Rod 5.5 mm at INR 40,500/MT & Rebar at INR 40,400/MT, ex-work & excluding GST.
— The suppliers in Raipur have maintained trade discount on Wire rod amid average inquiries at around INR 1,200-1,500/MT, size – 5.5 MM.
— Raipur Power and Steel Ltd offering Wire Rod (5.5 MM) at INR 40,400/MT & Raw Pellet at INR 6,000/MT, ex-mill & excluding GST.
— Gujarat based Shreeyam Power & Steel Industries Ltd branding as National TMT has offered basic rebar at INR 48,000/MT FoR & including GST at 18%, Size – 20 mm.
Reference prices as on 11th May 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Chennai | HMS(80:20) | 26,400 | 26,300 | 26,500 | 0 | 26,300 | 25,800 |
| Ex-Mumbai | HMS(80:20) | 27,000 | 26,900 | 27,100 | 0 | 26,900 | 26,000 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 21,700 | 21,600 | 21,800 | 0 | 22,900 | 21,000 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 20,900 | 20,800 | 21,000 | 0 | 21,100 | 20,900 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 21,800 | 21,700 | 21,900 | + 100 | 22,300 | 22,100 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,700 | 19,500 | 20,000 | + 100 | 19,600 | 20,600 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 20,400 | 20,300 | 20,500 | – 100 | 21,500 | 19,500 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 19,600 | 19,500 | 19,700 | 0 | 20,300 | 20,500 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 18,700 | 18,500 | 19,000 | + 200 | 18,800 | 20,000 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 19,100 | 19,000 | 19,200 | + 100 | 19,300 | 20,900 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 37,150 | 37,100 | 37,200 | – 650 | 38,700 | 37,200 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 34,900 | 34,800 | 35,000 | – 400 | 36,300 | 34,500 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 33,900 | 33,800 | 34,000 | – 100 | 34,800 | 33,800 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 33,900 | 33,800 | 34,000 | – 100 | 34,800 | 34,600 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 36,050 | 36,000 | 36,100 | + 50 | 36,200 | 36,000 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 36,500 | 36,400 | 36,600 | 0 | 36,500 | 36,000 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 34,700 | 34,600 | 34,800 | 0 | 35,700 | 35,200 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 38,000 | 37,900 | 38,100 | – 500 | 39,400 | 37,800 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 35,400 | 35,300 | 35,500 | – 400 | 36,900 | 35,100 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 34,800 | 34,700 | 34,900 | – 200 | 35,600 | 34,300 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 35,000 | 34,900 | 35,100 | 0 | 35,750 | 35,200 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 36,750 | 36,700 | 36,800 | + 150 | 36,800 | 36,200 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 37,000 | 36,900 | 37,100 | 0 | 37,000 | 36,500 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 35,000 | 34,900 | 35,100 | 0 | 36,000 | 35,500 | |
| TMT | Ex-Delhi/NCR | 12MM | 40,800 | 40,600 | 41,000 | 0 | 42,200 | 40,600 |
| Ex-Durgapur | 12MM | 40,450 | 40,250 | 40,650 | – 150 | 41,300 | 39,600 | |
| Ex-Raipur | 12MM | 39,100 | 38,900 | 39,300 | 0 | 39,600 | 38,900 | |
| Ex-Mumbai | 12MM | 40,700 | 40,300 | 40,800 | + 100 | 40,900 | 40,100 | |
| Ex-Chennai | 12MM | 41,500 | 41,300 | 41,600 | + 100 | 41,200 | 41,000 | |
| Ex-Hyderabad | 12MM | 39,500 | 39,300 | 39,700 | 0 | 40,500 | 40,500 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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