Today, Indian Semis market observed mix response as the prices slightly fluctuated by INR 200/MT of both Sponge iron & Billets. As per participants, trade inquiries remain subdued amid volatility in prices.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 31,500-35,200/MT (USD 460-514) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 19,300-21,700/MT (USD 281-317); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 17th July 2018 (Tuesday) INR to USD exchange rate stood at INR 68.45
— BSE Sensex closed at 36,519(+196) on Tuesday, as against last day (Monday) at 36,323(-217)
Raw material
— Jindal SAW, Rajasthan based pellet maker is to export 55,000 MT of pellets (Fe 65%) to South Korean steel mill – POSCO, as reported to SteelMint by market participants.
— South African RB2 (5500 NAR) coal offers are assessed at USD 90/MT on FoB basis & USD 105/MT CNF India.
— Silicon Manganese (60-14) offers hiked by INR 1,000/MT (USD 15) through Central India based producers and current trades reported at INR 65,500-66,000/MT, ex-Raipur & ex-Raigarh, excluding GST.
Semi finished
— Jindal Steel (JSPL) kept offers firm – Pooled iron at INR 27,200/MT, Panther shots (Granulated pig iron) at INR 28,000/MT ex-plant, Angul – Odisha. Also, the company has maintained offers for Pig iron from its Raigarh plant at around INR 29,000-29,200/MT ex-plant.
— Indian Pig iron prices slightly fluctuates by INR 200/MT with average supply-demand in major markets. Current assessment at around INR 29,000/MT ex-Raipur, INR 29,000-29,500/MT ex-Durgapur, INR 28,500-29,000/MT ex-Jharkhand & INR 31,300-31,700/MT FoR Ludhiana, all prices excluding 18% GST.
— Indian Sponge iron export offers firm with average trades and the price assessment stood similar against last week at around USD 330/MT CPT Benapole (dry port of India & Bangladesh) & USD 350/MT CFR Chittagong, Bangladesh. Market expects, sponge export prices to remain strong due to seasonal short supply.
— Medium Steel mills in Durgapur, East India have concludes Billet export deals to Nepal at around USD 462-465/MT ex-mill. As per participants, export inquiries likely to improve soon which was limited earlier due to financial year closing in Nepal (15th July).
— Sponge P-DRI prices in Raipur increase sharply by INR 300-400/MT in couple of days due to limited supply by big plants over captive consumption & advance bookings for outside states. Today offer prices for Sponge P-DRI assessed at INR 20,000/MT (ex-plant), while no major deals have been reported.
— Central India, Raigarh based manufacturers sold Ingot to Raipur at around INR 31,500/MT FoR & excluding GST.
— BMM Ispat a price trend setter in South Indian sponge market has kept offers unaltered today & offering FeM 80 P-DRI lumps at INR 18,600-18,700/MT ex-Bellary.
— BIOP Steels in South India has increased 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.
Finish Long
— Central region, Raipur based brand – SPEED TMT has decline their price by around INR 500/MT on day basis and offering 28mm Rebars at INR 33,600/MT, ex-work & excluding GST.
— South region based – Tulsyan NEC Steel (Tulsyan) unchanged their offer on day basis and offering 12mm Rebar at INR 40,000/MT, ex-plant & excluding GST.
— Kalika Steel Alloys in Jalna unchanged their prices on d-o-d basis & current offering 28mm Rebar at INR 34,500/MT, ex-plant & excluding GST.
— Gujarat based Shreeyam Power & Steel Industries Ltd offering Rebar at INR 43,400/MT FoR & including GST at 18%, Size – 20 mm & Billet offering at INR 33,500/MT, excluding GST.
— East region based – Baba Smelter Pvt. Ltd has unchanged their Structure (125,150 Channel) offers on day basis & current basic offering at INR 38,750/MT, ex-work & excluding GST.
— Central region (Raigarh) based Scan Group branding Shrishti TMT reduced offers by INR 400/MT & current offering 28mm Rebar at INR 34,300/MT, ex-work & excluding GST.
— Raipur Power and Steel Ltd offering Wire Rod (5.5 MM) at INR 38,000/MT, Raw Pellet at INR 6,500/MT & Silico Manganese (60-14) at INR 66,000/MT, ex-plant & excluding GST.
— West region based Bhagwati Ferro Metal (P) Ltd offering basic Rebar at INR 36,400/MT & Billet at INR 32,700-800/MT for Mumbai, ex-work & excluding GST.
— Wire rod manufacturers in Raipur, Central India today offers trade discount at around INR 800-1,000/MT, whereas re-sellers offering discount at around INR 1,200-1,300/MT.
Reference prices as on 17th 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 | 0 | 24,300 | 26,100 |
| Ex-Chennai | HMS(80:20) | 23,200 | 23,100 | 23,300 | 0 | 23,500 | 26,100 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 20,450 | 20,400 | 20,500 | – 50 | 21,000 | 23,400 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 20,750 | 20,700 | 20,800 | – 50 | 20,800 | 21,000 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 21,700 | 21,600 | 21,800 | + 200 | 21,400 | 21,800 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,300 | 19,200 | 19,400 | + 100 | 19,100 | 20,400 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 19,450 | 19,400 | 19,500 | – 50 | 20,000 | 22,200 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 19,950 | 19,900 | 20,000 | + 350 | 19,550 | 19,900 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 18,600 | 18,500 | 18,700 | 0 | 18,300 | 19,600 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 19,100 | 19,000 | 19,200 | + 100 | 18,800 | 20,200 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 34,750 | 34,700 | 34,800 | – 150 | 35,300 | 39,700 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 31,500 | 31,400 | 31,600 | – 100 | 32,300 | 36,600 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 31,000 | 30,900 | 31,100 | 0 | 31,600 | 36,000 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 31,400 | 31,300 | 31,500 | – 150 | 31,600 | 35,500 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 32,300 | 32,200 | 32,400 | – 200 | 32,200 | 36,400 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 34,000 | 33,900 | 34,100 | 0 | 34,200 | 35,000 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 33,700 | 33,600 | 33,800 | 0 | 33,700 | 35,700 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 35,200 | 35,100 | 35,300 | – 200 | 35,700 | 40,200 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 32,000 | 31,900 | 32,100 | – 100 | 32,800 | 37,000 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 31,500 | 31,400 | 31,600 | 0 | 32,500 | 36,200 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 32,100 | 32,000 | 32,200 | – 50 | 32,500 | 36,600 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 32,700 | 32,600 | 32,800 | – 50 | 32,400 | 36,700 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 34,500 | 34,400 | 34,600 | 0 | 34,700 | 35,500 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 34,000 | 33,900 | 34,100 | 0 | 34,000 | 36,000 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 39,200 | 39,000 | 39,400 | 0 | 39,900 | 44,100 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 36,300 | 36,100 | 36,500 | 0 | 37,300 | 41,400 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 35,700 | 35,600 | 35,900 | – 500 | 37,000 | 40,800 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 36,400 | 36,000 | 36,500 | + 100 | 37,500 | 40,200 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 39,400 | 39,200 | 39,600 | 0 | 39,600 | 40,600 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 38,500 | 38,300 | 38,700 | – 250 | 38,500 | 40,500 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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