Indian Semis trades remained weak over limited inquiries for Finished products and as per daily assessment the prices of Sponge iron fall by INR 100-200/MT & Billet by INR 100-500/MT.
As per Industry participants – further fall is limited due to improved export parity. However, seasonal low demand in rebars remain a major concern, they mentioned.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 34,000-38,000/MT (USD 496-555) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 19,200-21,900/MT (USD 280-320); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 27th June 2018 (Wednesday) INR to USD exchange rate stood at INR 68.58
— BSE Sensex closed at 35,217(-272) on Wednesday, as against last day (Tuesday) at 35,490(+19)
Raw material
— As per latest assessment of Coking coal, spot prices of the Premium HCC, Australia have decreased by around USD 4/MT W-o-W & assessed at USD 210.8/MT CNF India.
— Imported scrap offers to India remains stable since couple of weeks; HMS 1&2 (80:20) Dubai origin (containers) stood at USD 370-375/MT, CFR Nhava Sheva.
— Singhal Steel, Raigarh (Central India) based manufacturer has offered 60-14 Silico Manganese at around INR 62,000/MT ex-plant.
Semi finished
— Indian induction grade billet export offers to Nepal drop by USD 25/MT W-o-W. Current offers for 100*100mm size billet assessed at USD 500-505/MT (ex-mill at West Bengal), equivalent to USD 525-530/MT CFR Nepal (Raxaul border).
— Raipur, Central India based Integrated plants have maintained prices for Sponge P-DRI at INR 19,400-19,500/MT ex-plant. However, no major trades have been observed.
— Raigarh based Singhal Steel offered P-DRI at INR 18,900/MT ex- plant, an official reported. Also, the company is offering Billets to Raipur at INR 34,700-34,800/MT FoR.
— Odisha based manufacturer, Ganesh Metaliks offered Billet at INR 34,200/MT ex-plant.
— BIOP Steels in South India has reduced sponge offers by around INR 200/MT, offering FeM 80 & 82 C-DRI lumps at INR 19,900/MT & INR 20,300/MT ex-plant, Karnataka; an official reported.
— South India based Cauvery Iron & Steel offers FeM 80 P-DRI & billet at INR 19,400/MT & INR 34,000/MT. Also offering 28 MM Rebar at INR 36,500/MT, ex-plant & excluding GST.
Finish Long
— Tata’s Wire division has increased its Pithampur (MP) unit capacity by 66% to 88,000 MT annually as per the company reported in its recent annual report.
— Jalna based rebar manufacturer – SRJ Peety Steels Pvt Ltd branding Shree Om TMT decreased their prices by around INR 700/MT on day basis and offering 28mm rebar at INR 36,500/MT, ex-work & excluding GST.
— Jalna based rebar manufacturer Rajuri Steel Pvt Ltd has decreased their price range by around INR 500/MT & current offering 28mm rebar at around INR 36,500/MT, ex-work & excluding GST.
— North region based Rathi Steels has reduce their prices by around INR 500/MT on day basis and offering 12mm rebar at INR 43,300/MT, ex-work & excluding 18% GST.
— Central region (Raigarh) based Anjani Steels Limited branding Radhe TMT have decreased price by around INR 300/MT on day basis and currently offer 28mm rebar at INR 37,500/MT, ex-work & excluding GST.
— The suppliers in Raipur have slightly unchanged their trade discount on Wire rod to around INR 1,200-1,300/MT, size – 5.5 MM.
— East region based – Shakambhari Ispat & Power Ltd has offered Wire Rod 5.5mm at INR 39,500/MT & 16mm rebar at INR 39,000/MT, ex-work & excluding GST.
Reference prices as on 27th June 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Mumbai | HMS(80:20) | 25,400 | 25,300 | 25,500 | 0 | 26,100 | 27,600 |
| Ex-Chennai | HMS(80:20) | 24,900 | 24,800 | 25,000 | – 100 | 25,800 | 26,700 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 21,900 | 21,800 | 22,000 | – 200 | 23,200 | 22,000 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 20,700 | 20,500 | 20,800 | 0 | 21,000 | 20,800 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 21,300 | 21,200 | 21,400 | – 100 | 21,700 | 21,750 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,200 | 19,100 | 19,300 | 0 | 20,400 | 20,500 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 20,900 | 20,800 | 21,000 | – 100 | 22,200 | 20,500 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 19,400 | 19,300 | 19,500 | – 100 | 19,750 | 19,650 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 18,600 | 18,500 | 18,700 | 0 | 19,600 | 19,800 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 19,600 | 19,500 | 19,700 | – 100 | 20,100 | 20,400 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 37,550 | 37,500 | 37,600 | + 50 | 39,400 | 38,900 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 34,400 | 34,300 | 34,500 | 0 | 36,500 | 36,500 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 33,600 | 33,500 | 33,700 | – 300 | 35,900 | 36,000 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 33,700 | 33,600 | 33,800 | – 100 | 35,100 | 36,050 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 34,500 | 34,400 | 34,600 | – 300 | 36,400 | 36,800 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 34,300 | 34,200 | 34,400 | – 400 | 34,800 | 36,300 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 33,700 | 33,600 | 33,800 | – 500 | 35,200 | 35,700 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 38,000 | 37,900 | 38,100 | 0 | 39,800 | 39,700 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 34,800 | 34,700 | 34,900 | 0 | 37,000 | 37,000 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 34,000 | 33,900 | 34,100 | – 500 | 36,200 | 36,400 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 34,700 | 34,600 | 34,800 | – 100 | 36,200 | 37,150 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 34,700 | 34,600 | 34,800 | – 300 | 36,600 | 37,100 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 34,800 | 34,700 | 34,900 | – 400 | 35,300 | 36,700 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 34,000 | 33,900 | 34,100 | – 500 | 35,500 | 36,000 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 42,200 | 42,000 | 42,400 | – 600 | 44,400 | 44,300 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 39,600 | 39,400 | 39,800 | – 200 | 41,500 | 41,600 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 39,400 | 39,200 | 39,600 | – 400 | 40,500 | 41,600 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 38,400 | 38,000 | 38,500 | – 400 | 40,200 | 40,700 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 40,000 | 39,800 | 40,200 | – 300 | 40,400 | 41,000 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 39,000 | 38,800 | 39,200 | – 500 | 40,000 | 40,500 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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