Today, Indian Semi finished prices increase further over increased trade activities. As per SteelMint assessment, the prices surge for Sponge iron by INR 100-300/MT & Billet upto INR 500/MT day-on-day.
The latest price assessment for induction furnaces billet in Indian market stood at INR 35,200-38,800/MT (USD 519-572) ex-plant. Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 20,000-22,000/MT (USD 295-325); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 17th May 2018 (Thursday) INR to USD exchange rate stood at INR 67.84
— BSE Sensex closed at 35,149(-238) on Thursday, as against last day (Wednesday) at 35,387(-156).
Raw material
— Essar Steel sourced 0.36 MnT iron ore in Apr’18 from Odisha’s merchant mines, down 19% M-o-M compared to 0.44 MnT in Mar’18
— SAIL’s Bokaro Steel plant invited a tender of 300,000 MT pellet purchase. The due date for techno-commercial bid submission is 19th June 2018 till 14:30 hrs (IST)
— Tata Steel – India’s major steel giant recorded steel production at 12.48 MnT in FY18, up 7% against11.68 MnT in FY’17- Sources
— After getting approval from NCLT and CCI for acquisition of Bhushan Steel; Tata Steel is eyeing to increase its operational efficiency.
Semi finished
— MMTC has floated an export tender of 40,000 MT non-alloy Pig Iron on behalf of Neelachal Ispat Nigam Limited (NINL). The due date for submission of bids is 25 May’18.
— Raipur, Central India based Integrated plants offers increased by INR 200/MT D-o-D, offering Sponge P-DRI at INR 19,800-20,000/MT ex-plant.
— Steel grade pig iron offers by a Durgapur based manufacturer reported at INR 30,800-31,000/MT (ex-plant) amid average inquiries.
— As per sources, Rashmi Metaliks in Durgapur has increased Sponge prices by INR 200/MT and offered P-DRI at INR 20,300/MT.
— Odisha based medium size sponge manufacturers have raised prices by INR 100-200/MT and reported FeM 80 C-DRI (70:30 mix material) at INR 20,700-20,900/MT ex-plant & excluding GST.
— BMM Ispat in South India (Karnataka) has increased offers for FeM 80 P-DRI by INR 300/MT to INR 19,200/MT ex-Bellary, an official reported.
— Apple Industries in Bellary (Karnataka) offered Sponge FeM 85+ C-DRI lump at INR 21,600/MT & Billet at INR 35,300/MT ex-plant. Trade activities increased at these offers; an official reported
— South India based Cauvery Iron & Steel offers FeM 80 P-DRI & billet at INR 20,000/MT & INR 35,500/MT. Also offering 28 MM Rebar at INR 37,500/MT. Prices are ex-plant & excluding GST.
Finish Long
— Gujarat Based, Keyur Ispat Ltd offering basic rebar at INR 48,300/MT FoR basis, including GST at 18%, Size – 20 mm.
— Rathi Steels in Delhi, North India have increased their prices by around INR 600/MT d-o-d basis and current offers are at INR 43,000/MT, size – 12 mm & excluding 18% GST
— South India – Chennai based ARS Trusteel reported decreased their prices by around INR 300/MT amid slow demand & current offers for 12 MM Rebar at INR 43,400/MT & Billet at INR 36,700/MT ex-plant & excluding GST.
— Gujarat based Akshar TMT has offered basic rebar at INR 48,300/MT FoR & including GST at 18%, Size – 20 mm.
— Raipur Power and Steel Ltd offering Wire Rod (5.5 MM) at INR 40,600/MT & Raw Pellet at INR 5,800/MT, ex-Mill & excluding GST.
Reference prices as on 17th 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 | 21,600 | 21,500 | 21,700 | + 200 | 21,700 | 21,600 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 20,800 | 20,700 | 20,900 | + 100 | 20,900 | 20,900 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 22,000 | 21,900 | 22,000 | + 50 | 21,700 | 22,000 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 20,000 | 19,900 | 20,100 | + 200 | 19,600 | 20,500 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 20,300 | 20,200 | 20,400 | + 200 | 20,500 | 20,400 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 19,900 | 19,800 | 20,000 | + 200 | 19,600 | 19,800 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,100 | 19,000 | 19,200 | + 200 | 18,500 | 19,500 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 19,700 | 19,600 | 19,800 | + 300 | 19,000 | 20,800 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 38,100 | 38,000 | 38,200 | + 100 | 37,800 | 37,400 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 35,200 | 35,100 | 35,300 | + 300 | 35,300 | 35,000 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 34,400 | 34,300 | 34,500 | + 300 | 34,000 | 34,400 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 34,800 | 34,700 | 34,900 | + 300 | 34,000 | 34,650 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 36,000 | 35,900 | 36,100 | + 100 | 36,000 | 36,000 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 36,200 | 36,000 | 36,200 | – 300 | 36,500 | 36,600 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 35,000 | 34,700 | 35,300 | + 300 | 34,700 | 36,700 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 38,800 | 38,700 | 38,900 | + 100 | 38,500 | 38,000 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 35,900 | 35,800 | 36,000 | + 500 | 35,800 | 35,300 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 35,000 | 34,900 | 35,000 | + 200 | 35,000 | 34,800 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 35,900 | 35,800 | 36,000 | + 400 | 35,000 | 35,300 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 36,600 | 36,500 | 36,600 | + 100 | 36,600 | 36,200 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 36,700 | 36,500 | 36,700 | – 300 | 37,000 | 37,000 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 35,300 | 35,000 | 35,500 | + 300 | 35,000 | 37,000 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 415/500 Fe | 41,600 | 41,400 | 41,800 | + 500 | 40,800 | 40,800 |
| Ex-Durgapur | 12-25 MM, IS 1786- 415/500 Fe | 40,100 | 39,900 | 40,300 | + 100 | 40,600 | 39,800 | |
| Ex-Raipur | 12-25 MM, IS 1786- 415/500 Fe | 39,800 | 39,600 | 40,000 | + 300 | 39,100 | 39,200 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 415/500 Fe | 40,600 | 40,200 | 40,700 | 0 | 40,600 | 39,800 | |
| Ex-Chennai | 12-25 MM, IS 1786- 415/500 Fe | 41,400 | 41,000 | 41,600 | – 200 | 41,400 | 41,300 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 415/500 Fe | 39,750 | 39,500 | 40,000 | + 250 | 39,500 | 41,500 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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