Indian Semi-finished steel offers decline further over slow-down in demand, Sponge iron offers fall by INR 100-200/MT & Billet by INR 100-600/MT D-o-D.
Major fall seen in billet by INR 600/MT in Jalna, Maharashtra west India over low inquiries.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 36,250-39,800/MT (USD 540-593) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 20,400-22,700/MT (USD 304-338); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 7th June 2018 (Thursday) INR to USD exchange rate stood at INR 67.15
— BSE Sensex closed at 35,463(+284) on Thursday, as against last day (Wednesday) at 35,178(+275)
Raw material
— Indian pellet exports have depicted a significant decline of 33% to 0.40 MnT in May’18 against 0.60 MnT in Apr’18- SteelMint Stats
— China continues to be the largest importer of Indian pellet in May’18 with imports at 0.26 MnT, down 29% M-o-M as against 0.37 MnT in Apr’18.
— Imported scrap offers to India for HMS 1&2 (80:20) Dubai origin containers stood at around USD 370/MT, CFR Nhava Sheva
Semi finished
— RSP (Rourkela Steel Plant) tender held today (7th June’18) to sell about 12,000 MT steel grade Pig iron. The base price of the tender was at INR 28,500/MT and 11,500 MT quantity have been sold out.
— Jindal Steel has further reduced prices and are reported Pooled iron at INR 27,800/MT, Granulated Pig iron (Panther shots) at INR 28,800/MT ex-plant, Odisha & steel grade pig iron at INR 29,800/MT ex-plant, Raigarh.
— JSPL has booked two rakes (equivalent to 5,500 MT) of prime grade billet for Nepal at around USD 560-565/MT (Ex-Raigarh), which is equivalent to USD 620/MT CFR Raxaul border (Nepal).
— According to sources, an Indian private mill has booked around 20,000 – 25,000 MT steel grade pig iron to Bangladesh at around USD 395-400/MT FOB levels.
— Raipur, Central India based Integrated plants have reduced offers by INR 100-200/MT day-on-day and offering Sponge P-DRI at INR 20,100-20,300/MT ex-plant.
— Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 21,200/MT & billet at INR 36,800/MT ex-plant. As per officials, trade activities average at the offer prices.
— 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 20,700/MT. Both offers for FeM 80, excluding GST & ex-plant basis.
— South India based Cauvery Iron & Steel offers FeM 80 P-DRI & billet at INR 20,500/MT & INR 36,500/MT. Also offering 28 MM Rebar at INR 38,500/MT. prices are ex-plant & excluding GST.
Finish Long
— Rashtriya Ispat Nigam Limited has invited the tender for export of 5,504 MT Wire rods to Nepal. The minimum offered quantity is 2,752 MT. The due date for submission of bids is 12 Jun’18
— Maharashtra (Mumbai) based Guardian TMT have reduced their Rebar price by INR 200/MT d-o-d and offering at INR 41,300/MT (12 mm) ex-work & excluding GST & SRMM (Ghasiram) structure prices also remains stable on day trade activities.
— In North India (Delhi), 12-25 mm Rebar offers by Large & Medium based manufacturers are assessed at INR 45,000-45,500/MT (excluding 18% GST).
Reference prices as on 7th June 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Mumbai | HMS(80:20) | 27,500 | 27,400 | 27,600 | 0 | 27,500 | 27,000 |
| Ex-Chennai | HMS(80:20) | 26,400 | 26,300 | 26,500 | 0 | 26,500 | 26,400 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 22,700 | 22,600 | 22,800 | 0 | 22,400 | 21,700 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 21,200 | 21,100 | 21,300 | 0 | 21,000 | 20,900 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 22,000 | 21,900 | 22,100 | – 200 | 21,700 | 21,700 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 20,400 | 20,300 | 20,500 | 0 | 20,400 | 19,600 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 21,300 | 21,200 | 21,400 | 0 | 20,900 | 20,500 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 20,200 | 20,100 | 20,300 | – 100 | 19,700 | 19,600 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,700 | 19,600 | 19,800 | – 100 | 19,700 | 18,500 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 20,300 | 20,200 | 20,400 | – 100 | 20,400 | 19,000 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 39,300 | 39,200 | 39,400 | – 350 | 39,300 | 37,800 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 36,650 | 36,600 | 36,700 | – 250 | 36,700 | 35,300 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 36,150 | 36,100 | 36,200 | – 50 | 36,000 | 34,000 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 35,800 | 35,700 | 35,900 | – 350 | 36,150 | 34,000 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 37,000 | 36,900 | 37,100 | – 200 | 37,000 | 36,000 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 36,000 | 35,900 | 36,100 | 0 | 36,000 | 36,500 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 36,000 | 35,700 | 36,200 | – 200 | 35,700 | 34,700 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 39,800 | 39,700 | 40,000 | – 500 | 40,100 | 38,500 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 37,000 | 36,900 | 37,100 | – 350 | 37,300 | 35,800 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 36,700 | 36,600 | 36,800 | – 100 | 36,400 | 35,000 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 37,000 | 36,900 | 37,100 | – 300 | 37,250 | 35,000 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 37,200 | 37,100 | 37,300 | – 200 | 37,300 | 36,600 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 36,500 | 36,400 | 36,600 | 0 | 36,500 | 37,000 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 36,250 | 36,000 | 36,500 | – 250 | 36,000 | 35,000 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 44,500 | 44,300 | 44,700 | – 100 | 44,300 | 40,800 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 41,800 | 41,600 | 42,000 | – 200 | 41,800 | 40,600 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 41,500 | 41,300 | 41,700 | – 300 | 41,700 | 39,100 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 41,100 | 40,600 | 41,600 | – 200 | 40,700 | 40,600 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 41,000 | 40,800 | 41,200 | 0 | 40,800 | 41,400 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 40,800 | 40,600 | 41,000 | – 200 | 40,500 | 39,500 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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