Today, Indian Billet prices have increased in major markets amid active inquiries and the price rise have been noticed by INR 100-400/MT. However, Sponge iron prices have registered volatility in which prices in Eastern region rise by INR 100-400/MT while in Central India it declined marginally over limited buying through inductions with an anticipation further fall in prices post the power cut of Raigarh based inductions.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 36,000-40,100/MT (USD 534-595) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 20,400-22,400/MT (USD 302-332); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 31st May 2018 (Thursday) INR to USD exchange rate stood at INR 67.36
— BSE Sensex closed at 35,322(+416) on Thursday, as against last day (Wednesday) at 34,906(-43)
Raw material
— SAIL’s crude steel production up by 4% in FY18 & stood at 15.021 MT as against 14.49 MT in FY17.
Semi finished
— MMTC- India’s largest and state owned trading house, has floated a fresh export tender of 40,000 MT non-alloy Pig Iron on behalf of NINL. The due date for submission of bids was 14:30 hrs on 06 Jun’18.
— RSP (Rourkela Steel Plant) tender held today (31st May’18) to sell about 7,200 MT steel grade Pig iron. The base price of the tender was at INR 29,400/MT and only 400 MT quantity have been sold out.
— In West Bengal – Durgapur, big manufacturers have increased sponge offers by INR 400/MT D-o-D; P-DRI at INR 20,800-21,000/MT & C-DRI at INR 22,300-22,500/MT ex-plant
— Raipur, Central India based Integrated plants offering Sponge P-DRI at INR 19,600-19,700/MT & Sponge DR CLO grade at INR 22,500-22,700/MT ex-plant
— Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 21,000/MT & billet at INR 36,200-36,300/MT ex-plant.
— BIOP Steels in South India has offered FeM 80 & 82 C-DRI lumps at INR 20,400/MT & 20,800/MT ex-plant, Karnataka; an official reported.
— South India based Cauvery Iron & Steel offers FeM 80 P-DRI & billet at INR 20,500/MT & INR 36,000/MT. Also offering 28 MM Rebars at INR 38,000/MT. prices are ex-plant & excluding GST.
Finish Long
— North Region based Rathi Steels have unchanged their prices d-o-d basis and offering 12 mm Rebars at INR 45,600/MT, excluding 18% GST.-
— Gujarat Based, Keyur Ispat Ltd has unchanged their prices on day basis & offering 20mm Rebars at INR 48,600/MT FoR & including GST at 18% & Billet at INR 37,500/MT, ex-work & excluding GST.
— Jalna based rebar manufacturer – SRJ Peety Steels Pvt Ltd branding Shree Om TMT unchanged prices on day basis and offering basic Rebars at INR 39,200/MT, ex-work & excluding GST.
— The suppliers in Raipur have slightly increased trade discount on Wire rod to around INR 900-1,100/MT, size – 5.5 MM.
— South Region – Chennai based MIL Steel and Power Limited offering billet at INR 36,000/MT with immediate payment term, ex-work & excluding GST.
Reference prices as on 31st May 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Chennai | HMS(80:20) | 26,500 | 26,400 | 26,600 | – 200 | 26,700 | 26,200 |
| Ex-Mumbai | HMS(80:20) | 27,500 | 27,400 | 27,600 | – 100 | 27,500 | 26,800 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 22,400 | 22,300 | 22,500 | + 400 | 21,700 | 23,000 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 21,000 | 20,900 | 21,000 | + 200 | 21,000 | 21,200 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 21,700 | 21,600 | 21,800 | – 50 | 22,000 | 22,400 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 20,400 | 20,300 | 20,500 | – 100 | 20,800 | 19,500 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 20,900 | 20,800 | 21,000 | + 400 | 20,300 | 21,500 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 19,700 | 19,600 | 19,800 | + 50 | 19,800 | 20,400 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,700 | 19,600 | 19,800 | – 100 | 19,800 | 18,700 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 20,400 | 20,300 | 20,500 | 0 | 20,400 | 19,400 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 39,300 | 39,200 | 39,400 | + 400 | 38,500 | 38,400 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 36,700 | 36,600 | 36,800 | + 200 | 36,000 | 36,400 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 36,000 | 35,900 | 36,100 | 0 | 35,500 | 35,000 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 36,150 | 36,100 | 36,200 | + 100 | 35,950 | 34,800 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 37,000 | 36,900 | 37,100 | + 200 | 36,500 | 36,600 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 36,000 | 35,900 | 36,100 | – 300 | 35,500 | 36,500 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 35,700 | 35,600 | 35,800 | 0 | 36,200 | 36,000 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 40,100 | 40,000 | 40,300 | + 400 | 39,400 | 39,100 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 37,300 | 36,200 | 37,400 | + 300 | 36,600 | 36,800 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 36,400 | 36,300 | 36,500 | 0 | 36,100 | 35,800 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 37,250 | 37,200 | 37,300 | + 100 | 36,900 | 35,800 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 37,300 | 37,300 | 37,400 | + 200 | 37,100 | 37,100 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 36,500 | 36,400 | 36,600 | – 200 | 36,000 | 37,000 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 36,000 | 35,900 | 36,100 | 0 | 36,500 | 36,250 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 44,300 | 44,100 | 44,500 | 0 | 43,000 | 42,200 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 41,800 | 41,600 | 42,000 | + 200 | 41,300 | 41,500 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 41,700 | 41,500 | 41,900 | + 100 | 40,900 | 39,600 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 40,700 | 40,300 | 40,800 | 0 | 40,800 | 40,900 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 40,800 | 40,500 | 41,000 | – 200 | 40,500 | 41,200 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 40,500 | 40,300 | 40,700 | 0 | 41,000 | 40,750 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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