In the week opening, Indian Semi-finished steel offers fall sharply over limited inquiries. As per daily assessment the prices of billet have declined by INR 200-700/MT (USD 3-12) & Sponge iron about INR 100-200/MT.
During the day, major price fall in billet seen by INR 700/MT in Hyderabad, South India, while rest of markets registered downtrend of INR 200-500/MT.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 34,900-39,100/MT (USD 521-584) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 20,200-23,300/MT (USD 302-348); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 11th June 2018 (Monday) INR to USD exchange rate stood at INR 67.45
— BSE Sensex closed at 35,483(+39) on Monday, as against last day (Friday) at 35,443(-19)
Trade Updates
— Rashtriya Ispat Nigam Limited (RINL), has floated export tender of 15,000 MT (+/-10%) basic grade steel making Pig Iron for delivery by 10 Jul’17. The due date for submission of bids is 11:00 AM on 14 Jun’18.
— Neo Metaliks in Durgapur – West Bengal has kept offers unaltered for Pig iron and are assessed at INR 30,000-30,200/MT(steel grade) ex-plant, trade activities are weak at these offers; an official reported.
— Ludhiana, North India based trade participants reported steel & foundry grade pig iron offers at INR 31,000-31,200/MT & INR 33,500/MT on FoR basis & excluding 18% GST.
— Indian induction grade billet export offers to Nepal hovering at USD 545-550/MT ex-mill, Durgapur & USD 535-540/MT ex-mill Odisha, Eastern India.
— Raipur, Central India based Integrated plants have reduced offers by INR 200-300/MT day-on-day and offering Sponge P-DRI at INR 19,700-19,800/MT ex-plant. Sponge DR-CLO grade offers assessed at INR 22,600-22,800/MT ex-plant.
— Aloke Steel Industries (Jharkhand) offered Fem 78-79 C-DRI lumps at INR 22,200/MT & Sponge mix material (60:40) at INR 21,700/MT ex-plant.
— BMM Ispat a price trend setter in South Indian sponge market has kept offers unaltered today and offering FeM 80 P-DRI lumps at INR 19,800-19,900/MT ex-Bellary, Karnataka.
— Hyderabad, South India based few steel manufacturers have reduced billet offers to INR 35,000/MT as against last trades at INR 35,500-36,000/MT. Rebar offers being reduced to INR 39,500/MT (12-25mm); prices are ex-plant & excluding GST.
–Jharkhand, Bokaro based a producer offering Blast furnace grade Wire rod exports to Nepal at USD 670/MT CFR Raxaul border (Nepal).
— Rathi Steels based in North India-Delhi has reduced prices by INR 500/MT day-on-day and offered 12mm Rebars at INR 44,500/MT ex-works & excluding GST.
— Maharashtra, Mumbai based Guardian TMT has reduced prices by INR 500/MT and offered 12mm at INR 40,000/MT ex-works & excluding GST.
Reference prices as on 11th June 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Mumbai | HMS(80:20) | 26,000 | 25,800 | 26,200 | – 600 | 27,500 | 27,200 |
| Ex-Chennai | HMS(80:20) | 26,400 | 26,300 | 26,500 | 0 | 26,400 | 26,700 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 23,300 | 23,200 | 23,400 | + 200 | 22,700 | 21,500 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 20,800 | 20,700 | 20,900 | – 100 | 21,100 | 20,700 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 21,900 | 21,800 | 22,000 | – 100 | 21,900 | 21,900 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 20,200 | 20,000 | 20,400 | – 100 | 20,400 | 19,800 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 21,900 | 21,800 | 22,000 | + 100 | 21,200 | 20,200 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 19,750 | 19,700 | 19,800 | – 250 | 19,900 | 19,700 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,600 | 19,500 | 19,700 | 0 | 19,800 | 18,800 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 20,200 | 20,100 | 20,300 | 0 | 20,500 | 19,200 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 38,500 | 38,400 | 38,600 | – 550 | 39,900 | 37,300 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 36,200 | 36,100 | 36,300 | – 200 | 36,900 | 34,900 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 35,500 | 35,400 | 35,600 | – 200 | 36,300 | 33,800 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 34,500 | 34,400 | 34,600 | – 700 | 36,450 | 34,100 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 35,800 | 35,700 | 35,900 | – 400 | 37,500 | 35,900 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 35,300 | 35,200 | 35,400 | – 200 | 35,800 | 36,500 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 34,700 | 34,600 | 34,800 | – 800 | 36,200 | 34,700 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 39,100 | 39,000 | 39,300 | – 400 | 40,600 | 38,000 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 36,700 | 36,600 | 36,800 | – 200 | 37,400 | 35,350 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 36,100 | 36,000 | 36,200 | – 200 | 36,800 | 34,600 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 35,900 | 35,800 | 36,000 | – 600 | 37,500 | 35,200 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 36,000 | 35,900 | 36,000 | – 400 | 37,800 | 36,600 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 35,800 | 35,700 | 35,900 | – 200 | 36,300 | 37,000 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 35,000 | 34,900 | 35,100 | – 700 | 36,500 | 35,000 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 44,000 | 43,800 | 44,200 | – 500 | 44,600 | 40,800 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 41,200 | 41,000 | 41,500 | – 100 | 42,100 | 40,100 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 41,000 | 40,800 | 41,200 | – 200 | 42,000 | 39,200 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 40,000 | 39,800 | 40,200 | – 500 | 41,300 | 40,700 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 41,000 | 40,800 | 41,200 | 0 | 41,000 | 41,500 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 39,500 | 39,300 | 39,700 | – 800 | 40,800 | 39,500 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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