Indian Semi-finished steel offers incline further due to increased inquiries, As per SteelMint assessment the prices of Sponge iron have increased by INR 100-300/MT and Billet upto INR 600/MT (USD 9) day-on-day.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 34,800-38,700/MT (USD 513-571) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 19,800-21,800/MT (USD 292-322); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 16th May 2018 (Wednesday) INR to USD exchange rate stood at INR 67.82
— BSE Sensex closed at 35,387(-156) on Wednesday, as against last day (Tuesday) at 35,543(-12).
Raw materials
— India’s largest private steel manufacturer JSW Steel has ordered mobile desulfurization equipment from Japan’s Nippon Steel.
— Odisha based pellet maker – Brahmani River Pellets Ltd (BRPL) has recently concluded a pellet export deal to China for 55,000 MT at around USD 107/MT, CFR basis- Sources.
— Odisha (Jharsuguda) based pellet maker – Shyam Metaliks & Energy is going to set up a new pellet plant in Jharsuguda with 0.6 MnT by the end of 2018, reported by SteelMint sources.
Semi finished
— Raipur, Central India based Integrated plants have raised offers by INR 100/MT day-on-day and offering Sponge P-DRI at INR 19,600-19,800/MT ex-plant.
— Durgapur based Neo Metaliks has reported latest offers for steel grade Pig iron at around INR 31,000-31,200/MT & Foundry grade at INR 33,800/MT, ex-plant.
— Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 20,700-20,800/MT & billet at INR 34,600-34,700/MT ex-plant. As per officials, trade activities average at the offer prices.
— Raigarh based Singhal Steel offered P-DRI at INR 19,000/MT ex- plant, an official reported. Also, the company is offering Billets at INR 35,600/MT FoR Raipur.
— Local manufacturers in Raigarh are offering 60-14 Silico Manganese at around INR 61,500-62,000/MT ex-plant
— 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 18,800-18,900/MT ex-Bellary, Karnataka.
— BIOP Steels in South India has increased sponge offers by around INR 100/MT, offering FeM 80 & 82 C-DRI lumps at INR 20,100/MT & INR 20,500/MT ex-plant, Karnataka; an official reported.
Finish long
— Jalna based rebar manufacturer, Rajuri Steel Pvt Ltd offering basic rebar at INR 38,600/MT, ex-work & excluding GST
— Rathi Steels in Delhi, North India have decreased their prices by around INR 350/MT d-o-d basis and current offers are at INR 42,400/MT, size – 12 mm & excluding 18% GST
— South India based – VRKP Steel Industry Pvt Ltd are offering rebars (VRKP TMT) at INR 50,700/MT (8 mm), ex-work, & including GST
— Raipur Power and Steel Ltd offering Wire Rod (5.5 MM) at INR 40,400/MT, ex-Mill & Excluding GST
— Mumbai, Maharashtra based Guardian TMT have increased their rebar prices by around INR 100/MT today and offering at INR 40,600/MT (12 mm) ex-work & excluding GST. And SRMM (Ghasiram) structure prices also increased by INR 100/MT D-o-D.
Reference prices as on 16th May 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Chennai | HMS(80:20) | 26,700 | 26,600 | 26,800 | 0 | 26,400 | 26,300 |
| Ex-Mumbai | HMS(80:20) | 27,700 | 27,600 | 27,800 | 0 | 27,000 | 26,200 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 21,400 | 21,300 | 21,500 | 0 | 22,000 | 21,800 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 20,700 | 20,600 | 20,800 | + 200 | 20,900 | 21,000 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 21,950 | 21,900 | 22,000 | + 150 | 21,700 | 22,100 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,800 | 19,600 | 20,000 | 0 | 19,700 | 20,500 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 20,100 | 20,000 | 20,200 | 0 | 20,600 | 20,500 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 19,700 | 19,600 | 19,800 | + 100 | 19,500 | 20,150 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 18,900 | 18,800 | 19,000 | 0 | 18,700 | 19,500 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 19,400 | 19,300 | 19,500 | + 100 | 19,100 | 20,800 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 38,000 | 34,900 | 38,100 | + 600 | 37,600 | 37,500 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 34,900 | 34,800 | 35,000 | + 150 | 35,000 | 35,100 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 34,100 | 34,000 | 34,200 | + 400 | 34,100 | 34,500 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 34,500 | 34,400 | 34,600 | + 250 | 33,600 | 34,800 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 35,900 | 35,800 | 36,000 | + 100 | 36,200 | 36,100 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 36,500 | 36,300 | 36,500 | 0 | 36,500 | 36,800 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 34,700 | 34,600 | 34,800 | 0 | 34,700 | 36,200 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 38,700 | 38,600 | 38,800 | + 600 | 38,300 | 38,100 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 35,400 | 35,300 | 35,500 | + 100 | 35,500 | 35,600 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 34,800 | 34,700 | 34,900 | + 300 | 34,900 | 34,900 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 35,500 | 35,400 | 35,600 | + 250 | 35,000 | 35,600 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 36,500 | 36,400 | 36,600 | + 50 | 36,800 | 36,300 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 37,000 | 36,800 | 37,000 | 0 | 37,000 | 37,300 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 35,000 | 34,900 | 35,100 | 0 | 35,000 | 36,500 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 415/500 Fe | 41,100 | 40,900 | 41,300 | + 300 | 41,300 | 40,800 |
| Ex-Durgapur | 12-25 MM, IS 1786- 415/500 Fe | 40,000 | 39,800 | 40,500 | + 200 | 40,400 | 39,800 | |
| Ex-Raipur | 12-25 MM, IS 1786- 415/500 Fe | 39,500 | 39,300 | 39,700 | + 300 | 39,000 | 39,300 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 415/500 Fe | 40,600 | 40,200 | 40,700 | + 100 | 40,600 | 40,100 | |
| Ex-Chennai | 12-25 MM, IS 1786- 415/500 Fe | 41,600 | 41,400 | 41,800 | 0 | 41,400 | 41,500 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 415/500 Fe | 39,500 | 39,300 | 39,700 | 0 | 39,500 | 41,000 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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