In the week opening, domestic trades for Semis products remained subdued and the price fluctuation have seen in Sponge iron by INR 100-200/MT & Billet by INR 100-400/MT day-on-day. During the day prices in Central, East & North India have increased while slight fall being observed in few of markets.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 35,300-39,300/MT (USD 518-577) ex-plant. Further the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 20,200-21,800/MT (USD 296-320); prices are ex-plant & excluding GST.
The producers in major markets stated better demand and are continue fetching good bookings. Also, as per sources the medium mills in Central India – Raipur which in recent launch a new Rebar brand has received good response with today’s fresh offer and booked healthy quantities.
Rupee & BSE Sensex
— On 21st May 2018 (Monday) INR to USD exchange rate stood at INR 68.15
— BSE Sensex closed at 34,616(-232) on Monday, as against last day (Friday) at 34,848(-300).
Raw material
— Melting scrap offers in North India- Punjab rise by INR 500-600/MT in a day trade activities.
— Indian Silico Manganese producers raise their offers as demand from overseas gain momentum after Indian prices become more attractive than Ukranian Silico Manganese.
Semi finished
— SAIL’s BSP auction for rejected billet has received good response and allotted quantity have been sold out at INR 35,200-35,400/MT – Sources.
— NINL Increases Pig iron prices for Steel grade by INR 500/MT and latest offers evaluated at INR 30,500/MT ex-Cuttack, Odisha. Bulk purchase discount remain unchanged at INR 200-400/MT.
— Durgapur based Neo Metaliks has reported latest offers for steel grade Pig iron at around INR 31,200-31,300/MT & Foundry grade at INR 33,800/MT, ex-plant.
— Ludhiana, North India based trade participants reported the latest offers for steel grade are at around INR 31,600/MT and Foundry grade at INR 34,600/MT FoR and excluding 18% GST.
— Raipur, Central India based a big plant sold out good quantities of Sponge P-DRI to out of state (MP) at INR 19,600/MT ex-plant. Although buying interest from local buyers reported at INR 19,500-19,600/MT.
— Raigarh based Singhal Steel offered P-DRI at INR 19,700/MT FoR Raipur, an official reported. Also, the company is offering billet to Raipur at INR 36,000/MT FoR.
— BIOP Steels in South India has increased sponge offers by around INR 100-200/MT, offering FeM 80 & 82 C-DRI lumps at INR 20,400/MT & INR 20,800/MT ex-plant, Karnataka; an official reported.
Finish Long
— North Region based Rathi Steels have decreased their prices by around INR 350/MT d-o-d basis and offering 12 mm Rebars at INR 43,000/MT; excluding 18% GST.
— South Region based – VRKP Steel Industry Pvt Ltd – VRKP tmt has reduced prices by around INR 400/MT and offering 8 mm Rebars at INR 50,300/MT ex-work & including GST.
— The suppliers in Raipur have maintained trade discount on Wire rod at around INR 1,000-1,200/MT, size – 5.5 MM.
— Raipur Power and Steel Ltd offering Wire Rod (5.5 MM) at INR 41,000/MT & Raw Pellet at INR 5,800/MT, ex-mill & excluding GST.
— Jalna based Rebar manufacturer – SRJ Peety Steels Pvt Ltd branding Shree Om TMT unchanged their offers and quoted basic Rebar at INR 38,400/MT ex-work & excluding GST.
— East Region based – Baba Smelter Pvt. Ltd has offered basic Structure (150 Channel) at INR 41,000/MT, ex-work & excluding GST.
— Central region – Raipur based Medium/small scale Rebar producers have fetched common brand named as “SPEED TMT” & based without premises as each re-rolling unit contributes around 60-70% production from their existing brands & as per sources around 13-15 rolling mills have get involved in the whole process.
— As per Indian intendors, export buying inquiries of Rebar from South East countries (Myanmar) at around USD 600/MT (CFR basis) but no conclusion due to existence of high prices in domestic market.
Reference prices as on 21st May 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Chennai | HMS(80:20) | 26,600 | 26,500 | 26,700 | 0 | 26,700 | 26,300 |
| Ex-Mumbai | HMS(80:20) | 27,600 | 27,500 | 27,600 | 0 | 27,200 | 25,700 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 21,700 | 21,600 | 21,800 | + 100 | 21,500 | 21,400 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 20,800 | 20,700 | 20,900 | – 100 | 20,700 | 20,800 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 21,750 | 21,700 | 27,800 | – 50 | 21,900 | NA | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 20,200 | 20,100 | 20,300 | + 100 | 19,800 | 20,200 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 20,300 | 20,200 | 20,400 | + 100 | 20,200 | 20,000 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 19,600 | 19,500 | 19,700 | – 100 | 19,700 | 19,600 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,300 | 19,200 | 19,400 | + 100 | 18,800 | 19,100 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 20,000 | 19,900 | 20,100 | + 200 | 19,200 | 20,300 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 39,000 | 38,900 | 39,100 | + 800 | 37,300 | 37,100 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 35,700 | 35,600 | 35,800 | + 300 | 34,900 | 34,800 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 34,700 | 34,600 | 34,800 | + 200 | 33,800 | 34,000 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 35,000 | 35,000 | 35,100 | + 200 | 34,100 | 34,100 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 36,000 | 35,900 | 36,100 | 0 | 35,900 | 35,600 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 35,500 | 35,300 | 35,500 | – 200 | 36,500 | 36,500 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 35,500 | 35,300 | 35,700 | + 300 | 34,700 | 36,000 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 39,300 | 39,200 | 39,400 | + 400 | 38,000 | 37,500 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 36,300 | 36,200 | 36,400 | + 200 | 35,350 | 35,250 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 35,300 | 35,200 | 35,400 | + 100 | 34,600 | 34,400 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 36,200 | 36,100 | 36,300 | + 200 | 35,200 | 34,900 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 36,500 | 36,400 | 36,600 | – 50 | 36,600 | 35,900 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 36,000 | 35,800 | 36,000 | – 200 | 37,000 | 37,000 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 35,750 | 35,500 | 36,000 | + 250 | 35,000 | 36,300 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 415/500 Fe | 41,800 | 41,600 | 42,000 | – 300 | 40,800 | 40,900 |
| Ex-Durgapur | 12-25 MM, IS 1786- 415/500 Fe | 40,800 | 40,600 | 41,000 | + 400 | 40,100 | 39,600 | |
| Ex-Raipur | 12-25 MM, IS 1786- 415/500 Fe | 40,000 | 39,800 | 40,200 | + 100 | 39,200 | 38,900 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 415/500 Fe | 40,400 | 40,000 | 40,500 | – 200 | 40,700 | 39,500 | |
| Ex-Chennai | 12-25 MM, IS 1786- 415/500 Fe | 40,800 | 40,600 | 41,000 | – 300 | 41,500 | 41,000 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 415/500 Fe | 40,000 | 39,800 | 40,200 | 0 | 39,500 | 41,000 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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