Indian Billet prices continue to surge in line with improved inquiries and power cut in Central region – Raigarh which is one of the major merchant supplier of Ingot/Billets to North-east & Central region.
As per assessment, the billet prices rise by INR 300-900/MT on day trade activities and the major hike of INR 800-900/MT records in Central region (Raipur & Raigarh) followed South India (Hyderabad) by INR 750/MT & East and Western regions by INR 300-400/MT.
In context to sponge iron, the prices increased marginally by INR 100-300/MT in Central & East India, while South India reports price fall of INR 100/MT, day-on-day.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 35,000-38,800/MT (USD 517-574) ex-plant. Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 19,800-23,200/MT (USD 293-343); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 14th June 2018 (Thursday) INR to USD exchange rate stood at INR 67.58
— BSE Sensex closed at 35,599(-139) on Thursday, as against last day (Wednesday) at 35,739(+46)
Raw material
— Indian pellet exporters reported to have increased inquiries for regular grade pellet in the last couple of days, SteelMint learned from market sources.
— Imported scrap offers to India for HMS 1&2 (80:20) Dubai origin containers stood at around USD 370/MT, CFR Nhava Sheva
— Local manufacturers in Central India are offering Silico Manganese (60-14) at around INR 62,000/MT ex-Raigarh & INR 62,500-63,000/MT ex-Raipur
Semi finished
— Induction furnaces based in Jindal’s industrial park in Punjipathra, Raigarh (Central India) have forced to stop productions due to power cuts by Jindal Power Ltd.
— Jindal Steel offering – Pooled iron at INR 27,500/MT, Granulated Pig iron (Panther shots) at INR 28,500/MT ex-plant, Odisha & Steel grade Pig iron at INR 29,500/MT ex-plant, Raigarh.
— Electro Steel based in Bokaro offered steel grade Pig iron at INR 29,800-29,900/MT FoR Durgapur. However, on ex-plant basis the offers are reported at around INR 29,500/MT.
— Neo Metaliks in Durgapur – West Bengal has kept Pig iron offers unaltered at INR 29,800-30,000/MT (ex-plant) for steel grade.
— Raipur, Central India based Integrated plants have increased prices by INR 300/MT day-on-day and offering Sponge P-DRI at INR 20,100-20,200/MT, however no deals heard with officials. Sponge DR CLO grade offers evaluated at INR 23,000-23,200/MT ex-plant.
— Rashmi Metaliks based in Durgapur has raised Sponge P-DRI offers to INR 22,000/MT, Sources.
— A day before, Monnet Ispat sold 400-500 ton Sponge P-DRI at INR 19,500/MT ex-plant, Raigarh, an official reported. And added, few deals of P-DRI concluded for Jalna (Maharashtra) from its Raipur based plant at INR 19,800-19,900/MT on ex-plant basis.
— Singhal Steel offered Sponge P-DRI at INR 19,200/MT & C-DRI INR 21,200/MT ex-plant (Raigarh), an official reported.
— Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 20,800/MT & billet at INR 35,600/MT ex-plant.
— BMM Ispat a price trend setter in South Indian sponge market has reduced offers for FeM 80 P-DRI by INR 300-400/MT to INR 18,900-19,000/MT ex-Bellary, Karnataka.
— Prakash Sponge,a Karnataka based steel manufacturer offered Billet at INR 34,800/MT ex-plant. According to officials, major deals concluded for Hindupur.
— South India based Cauvery Iron & Steel offers P-DRI FeM 80 at INR 20,000/MT & Billet INR 36,000/MT. Also offering 28 MM Rebars at INR 38,000/MT. prices are ex-plant & excluding GST.
Finish Long
— Kalika Steel Alloys in Jalna increased their prices by around INR 300/MT d-o-d basis & offering 28 mm Rebars at INR 38,200/MT ex-plant & excluding GST.
— Gujarat based Akshar TMT has increased their price by around INR 100/MT and offering 20 mm Rebars at INR 49,100/MT FoR & including GST at 18%. As per official conversation demand in finish steel is average only.
— East Region based – Baba Smelter Pvt. Ltd has offered basic Structure 150 Channel at INR 41,000/MT with regular payment terms, ex-work & excluding GST.
— The suppliers in Raipur have slightly reduced their trade discount on Wire rod by around INR 200/MT to INR 1,000/MT, size – 5.5 MM.
— South India based – Prime Gold Int’l Ltd offering 12 mm Rebars at INR 51,000/MT for Chennai & INR 52,000/MT (8 mm) for Bangalore, ex-work & including GST. As per official view inquiries are not much good than the start of month.
— Shakti Ferro Alloys in Chennai, South Region has offered Rebar at INR 40,000/MT (12 mm) & Billet at INR 35,000/MT on immediate payment term, ex-work & excluding GST. As per official view finish steel sale is dull & no major volume has been concluded.
Reference prices as on 14th June 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Mumbai | HMS(80:20) | 25,800 | 25,700 | 25,800 | – 100 | 27,500 | 27,700 |
| Ex-Chennai | HMS(80:20) | 26,000 | 25,900 | 26,100 | 0 | 26,400 | 26,700 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 23,200 | 23,100 | 23,300 | + 200 | 22,700 | 21,600 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 20,900 | 20,800 | 21,000 | + 100 | 21,200 | 20,800 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 22,000 | 21,900 | 22,100 | + 300 | 22,000 | 22,000 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,800 | 19,700 | 20,000 | – 100 | 20,400 | 20,000 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 22,000 | 21,900 | 22,100 | + 200 | 21,300 | 20,300 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 20,000 | 19,900 | 20,100 | + 300 | 20,200 | 19,900 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,100 | 19,000 | 19,200 | – 100 | 19,700 | 19,100 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 20,100 | 20,000 | 20,200 | – 100 | 20,300 | 19,700 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 38,600 | 38,500 | 38,700 | + 300 | 39,300 | 38,100 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 36,000 | 35,900 | 36,100 | + 200 | 36,650 | 35,200 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 35,200 | 35,100 | 35,300 | + 400 | 36,150 | 34,400 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 35,600 | 35,500 | 35,700 | + 900 | 35,800 | 34,800 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 36,200 | 36,100 | 36,300 | + 300 | 37,000 | 36,000 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 34,800 | 34,700 | 34,900 | – 200 | 36,000 | 36,200 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 35,500 | 35,300 | 35,700 | + 800 | 36,000 | 35,000 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 39,100 | 39,000 | 39,300 | + 300 | 39,800 | 38,800 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 36,500 | 36,400 | 36,600 | + 300 | 37,000 | 35,900 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 35,700 | 35,600 | 35,800 | + 300 | 36,700 | 35,000 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 36,700 | 36,600 | 36,800 | + 950 | 37,000 | 35,900 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 36,400 | 36,300 | 36,400 | + 300 | 37,200 | 36,600 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 35,300 | 35,200 | 35,400 | – 200 | 36,500 | 36,700 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 35,750 | 35,500 | 36,000 | + 750 | 36,250 | 35,300 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 43,300 | 42,800 | 43,300 | 0 | 44,500 | 41,600 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 41,300 | 41,100 | 41,500 | + 250 | 41,800 | 40,100 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 41,000 | 40,800 | 41,200 | + 500 | 41,500 | 39,800 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 39,900 | 39,500 | 40,000 | + 100 | 41,100 | 40,600 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 40,600 | 40,400 | 40,700 | – 200 | 41,000 | 41,400 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 40,250 | 40,000 | 40,500 | + 750 | 40,800 | 39,750 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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