Indian Semi finished trades go silent as a rallying market puts an end to fluctuation amid the price fall seen in Sponge iron by INR 100-400/MT & Billet by INR 200-600/MT, day-on-day.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 32,800-36,300/MT (USD 478-529) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 19,200-21,700/MT (USD 279-316); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 9th July 2018 (Monday) INR to USD exchange rate stood at INR 68.63
— BSE Sensex closed at 35,934(+276) on Monday, as against last day (Friday) at 35,657(+83)
Raw material
— JSW Steel’s crude steel output rise by 5% in Q1 FY19 & stood at 4.12 MnT as against 3.91 MnT in Q1 FY18.
— NMDC iron ore production for June’18 recorded at 2.34 MnT, up 10% M-o-M against 2.12 MnT in May’18.
— KIOCL invites tender for supply of 50,000 DMT Iron Ore Concentrate – Haematite from reputed Indigenous Iron ore Suppliers. The due date for submission of bids is 18 July’18.
Semi finished
— RSP (Rourkela Steel Plant) tender held on Saturday ( 7th July’18) to sell about 12,500 MT steel grade pig iron, had received good response. The base price for the tender was quoted by RSP at INR 27,650/MT, however the auction were settled at INR 27,700-27,800/MT, ex-plant.
— Vizag Steel concludes 25,000 MT Pig Iron export tender at around USD 385-388/MT, FoB India, sources reported.
— Raipur, Central India based Integrated plants have reduced sponge offers by INR 100/MT day-on-day and offering Sponge P-DRI at INR 19,700-19,800/MT ex-plant.
— Govindam Sponge, an Odisha based plant offered FeM 80 sponge mix material at INR 21,100-21,200/MT & fines at INR 20,600/MT ex-plant; trade activities are firm at these offers an official reported.
— Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered billet at INR 32,800-32,900/MT ex-plant, an official reported.
— Odisha based a renowned manufacturer has concluded export deal of one rake billet to Nepal at around USD 485/MT (Loaded to Wagon).
— BMM Ispat a price trend setter in South Indian sponge market has kept offers firm today and offering FeM 80 P-DRI lumps at INR 18,400-18,500/MT ex-Bellary, Karnataka.
— Private pig iron producers in East India have maintained offers firm despite limited trades. Steel grade offers are as follow – Neo Metaliks at INR 29,300-29,500/MT ex-Durgapur & through Atibir Industries hovering at INR 29,000-29,500/MT ex-Giridih, Jharkhand.
Finish Long
— Jalna based rebar manufacturer – SRJ Peety Steels Pvt Ltd branding Shree Om TMT has decreased their prices by around INR 400/MT in last couple of working days and offering basic rebar at INR 35,600/MT, ex-work & excluding GST.
— North region based Rathi Steels has decreased their prices by around INR 250/MT on day basis and current offering at INR 41,400/MT, size – 12 mm & excluding 18% GST.
— Central region, Raipur based brand – SPEED TMT have decreased their prices by around INR 400/MT on day basis and current offering at INR 35,800/MT (28 mm), ex-work & excluding GST.
— Gujarat based Akshar TMT has reduced their price range by around INR 300/MT on day basis & currently offer basic rebar at INR 45,300/MT FoR & including GST at 18%, Size – 20 mm.
— 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.
— Central region (Raigarh) based Scan Group branding Shrishti TMT having monthly production capacity 20,000 MT, offering basic rebar at INR 36,100/MT (Size – 28 MM), ex-work & excluding GST.
— West Region based Bhagwati Ferro Metal (P) Ltd has slightly reduce their offer by around INR 200/MT on day basis & current offering rebar at INR 37,500/MT (12-25 mm) for Mumbai, Ex-work & excluding GST.
— Real Ispat & Power branding as GK TMT has reduced their offers by around INR 300/MT on day basis & currently offering at INR 40,200/MT (10-25 mm), ex-plant, Raipur.
Reference prices as on 9th July 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Mumbai | HMS(80:20) | 24,500 | 24,400 | 24,600 | – 200 | 25,000 | 26,000 |
| Ex-Chennai | HMS(80:20) | 23,600 | 23,500 | 23,700 | – 200 | 24,900 | 26,400 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 21,600 | 21,500 | 21,700 | – 400 | 22,200 | 23,300 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 20,900 | 20,800 | 21,000 | 0 | 20,800 | 20,800 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 21,700 | 21,600 | 21,800 | – 100 | 21,600 | 21,900 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,200 | 19,100 | 19,300 | – 100 | 19,200 | 20,200 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 20,600 | 20,500 | 20,700 | – 400 | 21,200 | 21,900 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 19,700 | 19,600 | 19,800 | – 200 | 19,850 | 19,750 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 18,500 | 18,400 | 18,600 | 0 | 18,600 | 19,600 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 19,000 | 18,900 | 19,100 | 0 | 19,400 | 20,200 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 35,900 | 35,800 | 36,000 | – 400 | 36,800 | 38,500 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 33,000 | 32,900 | 33,100 | – 400 | 34,000 | 36,200 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 32,100 | 32,000 | 32,200 | 0 | 33,000 | 35,500 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 32,400 | 32,300 | 32,500 | – 500 | 33,300 | 34,500 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 32,600 | 32,500 | 32,700 | – 300 | 34,100 | 35,800 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 34,300 | 34,200 | 34,500 | + 100 | 34,300 | 35,300 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 33,700 | 33,600 | 33,800 | 0 | 33,700 | 34,700 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 36,300 | 36,200 | 36,400 | – 500 | 37,300 | 39,100 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 33,500 | 33,400 | 33,600 | – 400 | 34,500 | 36,700 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 33,000 | 32,900 | 33,100 | 0 | 33,800 | 36,100 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 33,400 | 33,300 | 33,500 | – 400 | 34,300 | 35,900 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 32,800 | 32,700 | 32,900 | – 350 | 34,300 | 36,000 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 34,800 | 34,700 | 35,000 | 0 | 34,800 | 35,800 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 34,000 | 33,900 | 34,100 | 0 | 34,000 | 35,000 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 40,200 | 40,000 | 40,400 | – 400 | 42,000 | 44,000 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 37,900 | 37,700 | 38,100 | – 200 | 39,300 | 41,200 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 37,900 | 37,800 | 38,100 | – 400 | 39,200 | 41,000 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 37,500 | 37,100 | 37,600 | – 200 | 38,600 | 40,000 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 39,700 | 39,500 | 40,000 | – 200 | 39,800 | 41,000 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 39,000 | 38,800 | 39,200 | 0 | 39,250 | 39,500 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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