Indian Semi finished market reports further rise in prices, Billet by INR 100-300/MT & Sponge iron around INR 100/MT, day-on-day. The participants in Central, East & West India stated good demand.
The standalone Induction grade Billet producers in Durgapur & Rourkela, East India also shared that healthy bookings in hand for that they are not in hurry to deal in bulk and are wait & watch mode to sale it at higher prices.
SteelMint’s Indian domestic Billet price assessment today stood at INR 36,000-39,600/MT (USD 530-584) ex-plant and coal based sponge (78-80 FeM) C-DRI price was at INR 20,700-21,800/MT (USD 305-322); prices are ex-plant & excluding GST.
In context to export, 100*100mm Induction grade Billet export offers for Nepal assessed at USD 545-550/MT ex-mill, Durgapur & USD 535-540/MT ex-mill, Rourkela.
Rupee & BSE Sensex
— On 29th May 2018 (Tuesday) INR to USD exchange rate stood at INR 67.80
— BSE Sensex closed at 34,949(-216) on Tuesday, as against last day (Monday) at 35165(+240)
Raw material
— SAIL planning to source 50,000 MT Iron ore from NMDC per month over low production from its Dalli captive mines in Chhattisgarh- Sources
— Eastern India (Durgapur) pellet makers have increased prices by INR 450/MT W-o-W to INR 6,200-6,300/MT (delivered). Inline Southern India (Bellary) based pellet makers have increased offers by INR 200/MT to 6,900/MT. All prices are ex-works & excluding taxes.
— Goa based plants have booked 20 ft containerized melting scrap at USD 350/MT, 20-21 MT loading from West Africa & arrival period would be approximate after couple of months.
Semi finished
— Indian sponge iron export offers reduced by USD 10/MT W-o-W, price assessment for 80 FeM sponge lumps hovering at USD 345-350/MT CPT Benapole (dry land port of Bangladesh & India) and USD 365-370/MT CFR Chittagong, Bangladesh.
— Vizag Steel has invited a tender for export of 11,008 MT Billet and 5,504 MT Wire rods to Nepal & the due date for submitting the offer is 1st Jun’18
— Raipur, Central India based Integrated plants have raised offers by INR 100-200/MT day-on-day and offering Sponge P-DRI at INR 19,600-19,700/MT ex-plant.
— Central India – Raigarh based Monnet Ispat sold a rake (2,600 MT approx) of Sponge C-DRI (70:30 mix Lumps & fines) to Nepal during last week-end at around USD 315/MT, ex-plant Raigarh basis, officials shared.
— Odisha based sponge manufacturer sold FeM 80 C-DRI lumps to Jalna (Maharashtra) at INR 23,000/MT FoR Jalna.
— Jharsugda, Odisha based manufacturers offered & concluded few deals of Billet to Raipur at INR 36,900-37,000/MT on FoR basis.
— BMM Ispat in Karnataka has offered sponge P-DRI at INR 19,800-19,900/MT and Sunvik Steels sponge C-DRI lumps at INR 21,300/MT. Both offers for FeM 80, excluding GST & ex-plant basis.
— Goa based billet manufacturer have sold Billet to Pune at INR 36,900/MT FoR basis and due to this local price range might get slightly hike. Steel grade Pig Iron prices in Goa assessed at INR 28,500/MT ex-work.
Finish Long
— North region based Rathi Steels have increased their Rebar prices by around INR 500/MT d-o-d basis and offering 12mm at INR 45,600/MT; ex-works & excluding GST.
— East Region, Durgapur based – Shakambhari Ispat & Power Ltd has increased Wire rod (5.5mm) offers by around INR 500/MT to INR 42,000/MT; ex-work & excluding GST.
— Kalika Steel Alloys in Jalna unchanged their prices d-o-d basis & offering 28 mm rebars at INR 39,200/MT ex-plant & excluding GST. As per official conversation supply movement is going good with existence of demand at this price range.
— The suppliers in Raipur have slightly decreased trade discount on Wire rod to INR 800/MT as yesterday discount was around INR 1,200/MT, size – 5.5 MM. As per participants demand is good on Wire rod.
— Raipur Power and Steel Ltd offering Wire Rod (5.5 MM) at INR 41,900/MT & Raw Pellet at INR 6,000/MT & Sponge P-DRI at INR 19,500/MT, ex-work & excluding GST. As per official conversation demand is good & doesn’t seem a major obstacle for near term.
Reference prices as on 29th 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 | 26,700 | 26,400 |
| Ex-Mumbai | HMS(80:20) | 27,500 | 27,400 | 27,600 | + 100 | 27,600 | 26,600 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 21,900 | 21,800 | 22,000 | + 150 | 21,700 | 22,900 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 20,800 | 20,700 | 20,900 | 0 | 20,900 | 21,300 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 21,750 | 21,700 | 21,800 | 0 | 21,900 | 22,300 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 20,700 | 20,500 | 20,800 | 0 | 20,500 | 19,700 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 20,450 | 20,400 | 20,500 | + 150 | 20,300 | 21,500 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 19,650 | 19,600 | 19,700 | + 100 | 19,700 | 20,200 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,800 | 19,700 | 19,900 | 0 | 19,500 | 18,900 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 20,500 | 20,400 | 20,600 | 0 | 20,300 | 19,700 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 39,100 | 39,000 | 39,200 | 0 | 39,000 | 38,700 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 36,400 | 36,300 | 36,500 | + 200 | 35,800 | 36,500 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 35,900 | 35,800 | 36,000 | + 100 | 35,000 | 35,200 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 36,100 | 36,000 | 36,200 | + 50 | 35,400 | 35,000 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 36,800 | 36,700 | 36,900 | + 200 | 36,300 | 36,800 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 36,300 | 36,000 | 36,500 | + 200 | 35,300 | 36,500 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 35,700 | 35,600 | 35,800 | 0 | 35,700 | 35,700 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 39,900 | 39,800 | 40,000 | 0 | 39,700 | 39,400 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 37,000 | 36,900 | 37,100 | + 200 | 36,500 | 37,000 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 36,400 | 36,300 | 36,500 | + 100 | 35,600 | 35,700 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 37,250 | 37,200 | 37,300 | + 150 | 36,700 | 36,000 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 37,100 | 37,000 | 37,200 | + 150 | 36,800 | 37,000 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 36,750 | 36,500 | 37,000 | + 150 | 35,800 | 37,000 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 36,000 | 35,900 | 36,100 | 0 | 36,000 | 36,000 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 44,300 | 44,100 | 44,500 | + 500 | 42,500 | 41,700 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 41,550 | 41,350 | 41,750 | + 250 | 41,050 | 41,300 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 41,500 | 41,300 | 41,700 | + 300 | 40,400 | 39,700 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 40,700 | 40,300 | 40,800 | + 100 | 40,600 | 40,600 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 41,000 | 40,700 | 41,200 | 0 | 40,600 | 41,000 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 40,500 | 40,300 | 40,700 | 0 | 40,500 | 40,500 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
Leave a Reply