Today, Indian Sponge & Billet market reported slight price fluctuations of INR 100-300/MT amid average inquiries. As per industry participants, the buyers remained cautious due to volatility in prices.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 35,000-38,800/MT (USD 523-584) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 19,900-23,000/MT (USD 301-322); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 13th June 2018 (Wednesday) INR to USD exchange rate stood at INR 67.56
— BSE Sensex closed at 35,739(+46) on Wednesday, as against last day (Tuesday) at 35,692(+209)
Raw material
— As per latest assessment of Coking coal, spot prices of the Premium HCC have increased by around USD 3-4/MT W-o-W & assessed at USD 200/MT FoB Australia.
— Melting scrap offers in Western India- Gujarat fall by INR 500/MT in a day trade activities.
Semi finished
— SAIL’s auction today (13th June) to sale about 3,400 MT rejected Billet/bloom slabs heard to have received bids at INR 35,100-35,400/MT ex-works, Bhilai Steel Plant (BSP). As per sources, total allotted quantity have been booked by participants.
— According to data maintained by SteelMint stats, SAIL is to export a vessel of 16,200 MT bloom from Haldia Port, India to Indonesia. And the expected date of export is 14 June.
— Ludhiana, North India based trade participants reported the latest offers for steel grade Pig iron at around INR 31,600-31,700/MT and Foundry grade at INR 33,700-33,800/MT FoR and excluding 18% GST.
— Raipur, Central India based Integrated plants offers unaltered, offering Sponge P-DRI at INR 19,700-19,800/MT & Sponge DR CLO grade at INR 22,600-22,800/MT ex-plant
— Rashmi Metaliks in Durgapur, known as price trend setter, has offered Sponge P-DRI at INR 21,800/MT – Sources. The prices are unaltered as against last day trades, sources.
— Odisha based medium size sponge manufacturers reported firm offers; FeM 80 C-DRI (70:30 mix material) at INR 20,700-20,800/MT & 100% lumps at INR 21,200/MT ex-plant & excluding GST. The trade participants reported buying interest from Jalna Western India for Sponge lumps at around INR 21,000-21,100/MT (ex-mill).
— BMM Ispat in Karnataka has offered sponge P-DRI at INR 19,400/MT and Sunvik Steels sponge C-DRI lumps at INR 20,300/MT. Both offers for FeM 80, excluding GST & ex-plant basis.
Finish Long
— Vizag steel has received a poor response to its 5,500 MT wire rod export tender for Nepal which was floated on 07th June and the tender is likely to get cancelled on higher price expectation – Sources.
— South India, Chennai based manufacturer – Tulsyan NEC Steel (Tulsyan) has offered 12 mm Rebar at INR 42,000/MT, ex-plant & excluding GST. As per official price range is same from last week & demand is not appropriate.
— Kalika Steel Alloys in Jalna unchanged their prices d-o-d basis & offering 28 mm Rebars at INR 37,900/MT ex-plant & excluding GST.
— Gujarat based Akshar TMT has reduced their price by around INR 400/MT and offering 20 mm Rebar at INR 49,000/MT FoR & including GST at 18%. As per a official conversation demand in finish steel is little bit low in comparison of last week.
— The suppliers in Raipur have slightly reduced their trade discount on Wire rod by around INR 200-300/MT to INR 1,000-1,200/MT, size – 5.5 MM.
— Goa based plants have recently booked 20 ft containerised melting scrap at USD 340/MT, 20-21 MT loading from West Africa & arrival period would be approximate after couple of months.
— South region based – Khayati Steel Industries Pvt Ltd – offering 8 mm Rebars at INR 49,000/MT, ex-work & including GST.
— West region, Mumbai based Bhagwati Ferro Metal (P) Ltd had unchanged their basic Rebar offers at INR 36,500/MT, ex-work & excluding GST.
— Raipur Power and Steel Ltd offering Wire Rod (5.5 mm) at INR 41,200/MT, Raw Pellet – INR 6,100/MT, Sponge P-DRI at INR 19,700/MT & Silico Manganese at INR 63,500/MT, ex-mill & excluding GST.
Reference prices as on 13th June 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Mumbai | HMS(80:20) | 25,900 | 25,800 | 26,000 | – 100 | 27,500 | 27,700 |
| Ex-Chennai | HMS(80:20) | 26,000 | 25,900 | 26,100 | – 300 | 26,400 | 26,700 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 23,000 | 22,800 | 23,200 | – 200 | 22,700 | 21,400 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 20,800 | 20,700 | 20,800 | 0 | 21,200 | 20,700 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 21,700 | 21,600 | 21,800 | 0 | 22,200 | 21,950 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,900 | 19,800 | 20,000 | – 100 | 20,400 | 19,800 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 21,800 | 21,700 | 21,900 | 0 | 21,300 | 20,100 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 19,700 | 19,600 | 19,800 | 0 | 20,300 | 19,700 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,200 | 19,100 | 19,300 | – 100 | 19,800 | 18,900 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 20,200 | 20,100 | 20,300 | 0 | 20,400 | 19,400 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 38,300 | 38,200 | 38,400 | + 300 | 39,650 | 38,000 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 35,800 | 35,700 | 35,900 | 0 | 36,900 | 34,900 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 34,800 | 34,700 | 34,900 | – 200 | 36,200 | 34,100 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 34,700 | 34,600 | 34,800 | + 200 | 36,150 | 34,500 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 35,900 | 35,800 | 36,000 | – 100 | 37,200 | 35,900 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 35,000 | 34,900 | 35,100 | 0 | 36,000 | 36,500 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 34,700 | 34,600 | 34,800 | 0 | 36,200 | 34,700 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 38,800 | 38,700 | 39,000 | + 200 | 40,300 | 38,700 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 36,200 | 36,100 | 36,300 | 0 | 37,350 | 35,400 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 35,400 | 35,300 | 35,500 | – 200 | 36,800 | 34,800 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 35,750 | 35,700 | 35,800 | + 250 | 37,300 | 35,500 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 36,100 | 36,000 | 36,200 | – 100 | 37,400 | 36,500 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 35,500 | 35,400 | 35,600 | 0 | 36,500 | 37,000 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 35,000 | 34,900 | 35,100 | 0 | 36,500 | 35,000 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 43,300 | 42,800 | 43,300 | – 500 | 44,600 | 41,100 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 41,050 | 40,850 | 41,250 | + 150 | 42,000 | 40,000 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 40,500 | 40,300 | 40,700 | + 100 | 41,800 | 39,500 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 39,800 | 39,600 | 40,000 | 0 | 41,300 | 40,600 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 40,800 | 40,600 | 41,000 | 0 | 41,000 | 41,600 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 39,500 | 39,300 | 39,700 | 0 | 41,000 | 39,500 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
Leave a Reply