Indian Billet prices remain on down trend due to limited inquiries from the re-rollers and as per assessment the prices fall by INR 200-600/MT (USD 3-9), day-on-day.
However, Sponge iron prices slightly fluctuates by INR 100-200/MT in line with resume production of Ingot/Billets in Central region (Raigarh) and increase in Iron ore prices in Odisha.
The market participants mentioned, as of now they are looking for exports due to increased supply amid limited domestic demand.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 33,700-37,300/MT (USD 492-545) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 19,200-22,000/MT (USD 280-321); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 3rd July 2018 (Tuesday) INR to USD exchange rate stood at INR 68.52
— BSE Sensex closed at 35,378(+114) on Tuesday, as against last day (Monday) at 35,264(-159)
Raw material
— Odisha’s 2nd largest merchant miner – Serajuddin Mines has increased prices of iron ore (lump & fines) by INR 300/MT (USD 4).
— India’s largest iron ore miner, NMDC supplied 316 rakes of iron ore in Jun’18 as against 319 rakes in May’18.
— KIOCL is to set up 1.2 MnT pellet plant in Vishakhapatnam, Andhra Pradesh.And the plant recorded pellet production at 2.32 MnT in FY’18 as against 1.46 MnT in FY’17.
— Singhal Steel, Raigarh (Central India) based manufacturer has offered 60-14 Silico Manganese at around INR 63,500/MT ex-plant.
Semi finished
— Indian sponge iron export offers drop by USD 5/MT W-o-W, price assessment for 78-80 FeM sponge lumps are at USD 350/MT CPT Benapole (dry land port of Bangladesh & India) and USD 370/MT CFR Chittagong, Bangladesh.
— Raipur, Central India based Integrated plants offers increased by INR 100-200/MT and offering Sponge P-DRI at INR 19,900-20,100/MT & Sponge DR CLO grade at INR 22,800-23,000/MT ex-plant
— In West Bengal – Durgapur based manufacturers have reduced Sponge prices by INR 200-300/MT today and quoted Sponge P-DRI at around INR 20,800-21,000/MT.
— Odisha based manufacturer, Ganesh Metaliks offered billet at INR 33,600/MT ex-plant for domestic buyers and has concluded export deal of a rake billet to Nepal at USD 495/MT (ex-mill), as per official.
— Singhal Steel offered P-DRI & C-DRI at INR 19,500/MT & INR 21,500/MT ex-plant (Raigarh), an official reported.
— 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 18,400-18,500/MT ex-Bellary, Karnataka.
— BIOP Steels in South India has reduced sponge prices by around INR 300/MT, offering FeM 80 & 82 C-DRI lumps at INR 19,500/MT & INR 19,900/MT ex-plant, Karnataka; an official reported.
— South India based Cauvery Iron & Steel offers FeM 80 P-DRI & 28 mm Rebar at INR 19,000/MT & INR 36,000/MT. Prices are ex-plant & excluding GST.
Finish Long
— North Region based Rathi Steels have reduce their prices by around INR 850/MT on day basis and current offering at INR 42,400/MT, size – 12 mm & excluding 18% GST.
— Shakti Ferro Alloys in Chennai, South Region has offered Rebar at INR 40,000/MT (12 mm) & Billet at INR 35,000/MT, payment term Immediate, ex-work & excluding GST.
— Gujarat based Shreeyam Power & Steel Industries Ltd branding as National TMT has reduce prices by around INR 200/MT to INR 47,000/MT FoR & including GST at 18%, Size – 20 mm.
— Jalna based rebar manufacturer – SRJ Peety Steels Pvt Ltd branding Shree Om TMT decreased their prices by around INR 200/MT on day basis and offering basic rebar at INR 36,500/MT, ex-work & excluding GST.
— Raipur Power and Steel Ltd offering Wire Rod (5.5 MM) at INR 39,500/MT & Silico Manganese at INR 65,000/MT, ex-mill & excluding GST.
— Kalika Steel Alloys in Jalna unchanged their prices on d-o-d basis & current offering 28 mm rebars at INR 36,500/MT, ex-plant & excluding GST.
— South Region Based – Prime Gold Int’l Ltd have reduced prices by INR 400/MT on day basis & current offering rebars at INR 51,000/MT (8 mm), ex-work & including GST.
— Central region (Raigarh) based Anjani Steels Limited branding Radhe TMT have decrease prices by around INR 300/MT on day basis and currently offer basic rebar at INR 36,500/MT (Size – 28 MM), ex-work & excluding GST.
Reference prices as on 3rd July 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Mumbai | HMS(80:20) | 25,000 | 24,900 | 25,100 | 0 | 25,400 | 27,500 |
| Ex-Chennai | HMS(80:20) | 24,500 | 24,400 | 24,600 | – 400 | 25,000 | 26,400 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 22,000 | 21,900 | 22,100 | – 200 | 22,100 | 22,700 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 20,800 | 20,700 | 20,900 | 0 | 20,700 | 21,100 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 21,800 | 21,700 | 21,900 | + 200 | 21,400 | 22,300 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,200 | 19,100 | 19,300 | 0 | 19,200 | 20,400 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 20,900 | 20,800 | 21,000 | – 300 | 21,000 | 21,350 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 20,000 | 19,900 | 20,100 | + 150 | 19,500 | 20,300 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 18,500 | 18,400 | 18,600 | – 100 | 18,600 | 19,800 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 19,300 | 19,200 | 19,400 | – 100 | 19,700 | 20,500 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 36,400 | 36,300 | 36,500 | – 400 | 37,500 | 39,800 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 33,600 | 33,500 | 33,700 | – 400 | 34,400 | 37,000 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 32,700 | 32,600 | 32,800 | – 300 | 33,900 | 36,400 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 33,100 | 33,000 | 33,200 | – 200 | 33,800 | 36,400 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 33,600 | 33,500 | 33,700 | – 500 | 34,800 | 37,300 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 34,300 | 34,200 | 34,500 | 0 | 34,700 | 36,000 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 33,700 | 33,600 | 33,800 | 0 | 34,200 | 36,500 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 36,900 | 36,800 | 37,100 | – 400 | 38,000 | 40,500 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 34,000 | 33,900 | 34,100 | – 500 | 34,800 | 37,500 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 33,400 | 33,300 | 33,500 | – 400 | 34,500 | 36,900 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 34,100 | 34,000 | 34,200 | – 200 | 34,800 | 37,600 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 33,800 | 33,700 | 33,900 | – 500 | 35,000 | 37,550 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 34,800 | 34,700 | 35,000 | 0 | 35,200 | 36,500 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 34,000 | 33,900 | 34,100 | 0 | 34,500 | 36,750 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 41,500 | 41,200 | 41,600 | – 500 | 42,800 | 44,600 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 38,600 | 38,400 | 38,800 | – 700 | 39,800 | 42,300 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 38,800 | 38,600 | 39,000 | – 400 | 39,800 | 41,900 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 38,200 | 37,800 | 38,300 | – 400 | 38,800 | 41,300 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 39,800 | 39,600 | 40,000 | 0 | 40,300 | 41,000 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 38,750 | 38,500 | 39,000 | – 500 | 39,500 | 41,000 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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