Indian Semi-finished steel offers drop further over soften trade activities and the price declined for Sponge iron by INR 100/MT & Billet by INR 200-500/MT, as per SteelMint’s daily assessment.
Market participants in Western India stated “Supply movement is disrupted in the market as transport union is on nation-wide strike”.
Further South India based manufacturers who supply sponge iron to West region mentioned, “Buyers are not willing to book material over the transport strike , if material get stuck in the mid way, Sponge will get wet due to the ongoing monsoon”.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 31,000-34,200/MT (USD 451-498) ex-plant. Likewise, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 19,200-21,800/MT (USD 279-317); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 20th July 2018 (Friday) INR to USD exchange rate stood at INR 68.77
— BSE Sensex closed at 36,496(+145) on Friday, as against last day (Thursday) at 36,351(-22).
Raw material
— Indian ferrous scrap imports hit 10 month high in May & stood at 466,382 MT, up 32% Y-o-Y against 352,450 MT scrap imports recorded in May’17.
— Goa based plants recently booked 20 ft containerized melting scrap at USD 310/MT, 21 MT loading from West Africa & arrival period would be approximate 50-60 days
— Singhal Steel, Raigarh (Central India) based manufacturer has offered 60-14 Silico Manganese at around INR 66,500/MT ex-plant.
— As per participants in South India – Karantaka, recent about 15,000 Pellets have been sold at near about INR 6,200/MT ex-works & excluding GST. However, offers for general quantities heard at around INR 6,400/MT ex-works.
Semi finished
— Rashtriya Ispat Nigam Limited has invited a tender for export of 10,000 MT Billets and 12,500 MT Wire Rod. The due date for submission of bids is 26 Jul’18 at 11:00 hrs.
— As per participants, small deals have been concluded for export to Nepal from Durgapur, Billet 100*100mm around USD 458/MT & Wire rod offers reported near about USD 520/MT ex-mill.
— Indian Sponge iron export offers firm at around USD 350/MT CFR Chhittagong, Bangladesh. As per a exporter in Kolkata, small parcels have been sold in current week.
— Raipur, Central India based Integrated plants have reduced offers by INR 100/MT day-on-day and offering Sponge P-DRI at INR 19,800-19,900/MT ex-plant.
— Rashmi Metaliks in Durgapur, known as price trend setter, has offered Sponge P-DRI at INR 19,300-19,400/MT – Sources.
— Jharkhand based Aloke Steel Industries offered Fem 78-80 C-DRI lumps at INR 20,400-20,500/MT & Sponge mix material (60:40) at INR 20,800-20,900/MT ex-plant
— Govindam Sponge, an Odisha based plant offered FeM 80 sponge mix material at INR 20,700/MT & fines at INR 20,200/MT ex-plant; trade activities are weak.
— Raigarh based Singhal Steel offered P-DRI at INR 19,200-19,300/MT ex- plant, an official reported. Also, the company is offering Billets at INR 31,500/MT FoR Raipur.
— BMM Ispat, a renowned sponge manufacturer offering FeM 80 P-DRI lumps at INR 18,600/MT ex-Bellary, Karnataka.
— BIOP Steels in South India has reduced sponge offers by around INR 100/MT, offering FeM 80 & 82 C-DRI lumps at INR 19,300/MT & INR 19,700/MT ex-plant, Karnataka; an official reported.
— Sources reported, a week before Chennai based renowned sponge manufacturer exported 1,000 MT C-DRI Lumps to Bangladesh at USD 355/MT CFR Chhittagong.
Finish Long
— Central region, Raipur based brand – SPEED TMT has unchanged their price on day basis and current offering at INR 33,300/MT (28 mm), ex-work & excluding GST. Further, as per market participant production level has been adjusted as per demand & supply but selling pressure still exist due to rising inventory and few amendments may get land further for near term.
— North region based Rathi Steels have decreased their prices by around INR 250/MT on day basis and current offering at INR 38,900/MT, size – 12 mm & excluding 18% GST.
— The manufacturers in Raipur, Central India have offered trade discount on Wire rod at around INR 1,000-1,200/MT, while through stockiest it heard about INR 1,500-1,700/MT due to poor off take.
— Jalna based rebar manufacturer – SRJ Peety Steels Pvt Ltd branding Shree Om TMT unchanged prices on day basis and offering 28 mm rebar at INR 34,000/MT, ex-work & excluding GST.
— East region based – Baba Smelter Pvt. Ltd has unchanged their Structure offers on day basis & current (125,150 Channel) offering at INR 38,250/MT, ex-work & excluding GST.
— West region, Wada based – Vistar tmt has unchanged their price on day basis & current offering 28 mm rebar at INR 32,600/MT, ex-work & excluding GST.
— Raipur Power and Steel Ltd offering Wire Rod (5.5 MM) at INR 37,300/MT, Raw Pellet at INR 6,300/MT & Silicon Manganese at INR 65,000/MT, ex-mill & excluding GST.
Reference prices as on 20th 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 | 24,400 | 25,900 |
| Ex-Chennai | HMS(80:20) | 22,600 | 22,500 | 22,700 | 0 | 23,500 | 25,300 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 20,400 | 20,300 | 20,500 | 0 | 20,000 | 22,800 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 20,600 | 20,500 | 20,700 | 0 | 20,600 | 20,800 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 21,800 | 21,700 | 21,900 | 0 | 21,200 | 21,500 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,200 | 19,100 | 19,300 | – 100 | 18,900 | 20,100 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 19,200 | 19,100 | 19,300 | 0 | 19,000 | 21,700 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 19,800 | 19,700 | 19,900 | – 100 | 19,350 | 19,500 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 18,500 | 18,400 | 18,600 | – 100 | 18,300 | 19,100 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 18,800 | 18,700 | 19,000 | – 200 | 18,700 | 20,000 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 33,700 | 33,600 | 33,800 | – 500 | 33,850 | 38,500 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 31,000 | 30,900 | 31,100 | – 100 | 31,000 | 35,500 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 30,300 | 30,200 | 30,400 | – 200 | 30,200 | 34,800 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 30,800 | 30,700 | 30,900 | – 200 | 30,850 | 34,600 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 31,500 | 31,400 | 31,600 | + 50 | 31,400 | 35,650 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 33,500 | 33,400 | 33,700 | 0 | 34,000 | 34,800 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 33,200 | 33,100 | 33,300 | 0 | 32,700 | 34,700 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 34,200 | 34,100 | 34,300 | – 500 | 34,400 | 39,000 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 31,600 | 31,500 | 31,700 | 0 | 31,500 | 36,000 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 31,000 | 30,900 | 31,100 | – 200 | 30,800 | 35,300 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 31,450 | 31,400 | 31,500 | – 150 | 31,200 | 35,600 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 31,800 | 31,700 | 31,900 | 0 | 31,700 | 35,850 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 34,000 | 33,900 | 34,200 | 0 | 34,500 | 35,300 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 33,500 | 33,400 | 33,600 | 0 | 33,000 | 35,000 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 38,200 | 38,000 | 38,300 | – 300 | 39,200 | 43,600 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 36,100 | 35,900 | 36,300 | 0 | 36,000 | 40,800 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 35,200 | 35,000 | 35,400 | – 200 | 36,200 | 40,100 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 35,800 | 35,400 | 35,900 | 0 | 36,000 | 39,700 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 39,200 | 39,000 | 39,400 | 0 | 39,500 | 40,300 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 38,000 | 37,500 | 38,000 | 0 | 38,300 | 39,500 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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