Indian Iron & Steel trades remain limited over disruption of logistic and seasonal poor inquiries. The large share of Semis & Finished long steel manufacturers in major markets stated, temporary halt dispatches as transporters strike continue, this has led to surge inventories.
On daily analysis, the prices of Billet have increased slightly by INR 100-200/MT, while Sponge iron prices fluctuates in same proportion.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 30,700-34,400/MT (USD 446-500) ex-plant. Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 19,000-21,700/MT (USD 276-315); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 23rd July 2018 (Monday) INR to USD exchange rate stood at INR 68.83
— BSE Sensex closed at 36,718(+222) on Monday, as against last day (Friday) at 36,496(+145).
Trade Updates
— SAIL’s auction held today (23-Jul’18) to sale about 9,000 MT Pig iron from its Rourkela Steel Plant (RSP), has received good responge as total alotted quantity have been sold out with increase bid prices. The company has quoted base prices at INR 27,720/MT, however the auction get conclude at around INR 27,800-27,900/MT ex-plant, as per participants.
— The Private pig iron producer in East India & stockiest in Central region reported limited inquiries owing to slump billet prices and declining productions of Ingot/Billet. Latest price assessment stood at INR 29,000-29,300/MT ex-Durgaupr, East India & INR 28,800-29,200/MT ex-Raipur, Central region; excluding GST.
— Imported scrap offers to India for HMS(80:20) Europe origin containers stood at around USD 330/MT CNF India, Offers down by USD 10/MT W-o-W
— As per a official of Integrated plant in Raipur, near about 4,000 MT Sponge P-DRI have been sold today at the offer price of INR 19,600-19,700/MT, ex-plant & excluding GST.
— BMM Ispat in South India (Karnataka) has reduced offers for FeM 80 P-DRI by INR 200-300/MT to INR 18,200-300/MT ex-Bellary, an official reported. And added offers fall due to limited demand amid weak climatic condition.
— BIOP Steels in South India has kept offers unaltered; offering FeM 80 & 82 C-DRI lumps at INR19,300/MT & 19,700/MT ex-plant, Karnataka; an official reported.
— South India based Cauvery Iron & Steel offers FeM 80 P-DRI & billet at INR 18,900/MT & INR 33,500/MT. Also offering 28 MM Rebar at INR 35,500/MT. prices are ex-plant & excluding GST.
— Guardian TMT kept offers unchanged & current offering at around INR 35,800/MT (10-32 mm) for Mumbai, ex-work & excluding GST.
— GK TMT has kept their offers unchanged & currently offering at INR 37,100/MT (10-25 mm), ex-Raipur & GST extra.
— Kalika TMT is currently offering Rebars at around INR 36,300/MT (12-25 mm), ex-Jalna & excluding GST.
— The suppliers in Raipur have decreased trade discount on Wire rod and current discount are in the range at INR 600-1,000/MT.
— As per sources, SAIL (Steel Authority of India Ltd) has offer Rebar at around INR 41,000/MT for 12mm, ex-Bhilai (Central India) & GST extra.
Reference prices as on 23rd 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 | 24,500 | 25,400 |
| Ex-Chennai | HMS(80:20) | 22,600 | 22,500 | 22,800 | 0 | 23,200 | 25,000 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 20,200 | 20,100 | 20,300 | 0 | 20,500 | 22,300 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 20,600 | 20,500 | 20,700 | 0 | 20,800 | 20,800 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 21,700 | 21,600 | 21,800 | 0 | 21,500 | 21,500 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,000 | 18,900 | 19,100 | – 200 | 19,200 | 19,500 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 19,000 | 19,000 | 19,100 | 0 | 19,500 | 21,300 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 19,700 | 19,700 | 19,800 | 0 | 19,600 | 19,500 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 18,200 | 18,100 | 18,300 | – 300 | 18,600 | 19,000 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 18,800 | 18,700 | 19,000 | 0 | 19,000 | 19,800 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 33,900 | 33,800 | 34,000 | + 650 | 34,900 | 38,150 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 30,800 | 30,700 | 30,900 | + 100 | 31,600 | 35,000 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 30,200 | 30,100 | 30,300 | + 200 | 31,000 | 34,000 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 30,700 | 30,600 | 30,800 | + 250 | 31,550 | 34,100 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 31,500 | 31,400 | 31,600 | + 150 | 32,500 | 35,000 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 33,500 | 33,400 | 33,600 | 0 | 34,000 | 34,700 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 33,200 | 33,100 | 33,300 | 0 | 33,700 | 34,700 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 34,400 | 34,300 | 34,500 | + 700 | 35,400 | 38,600 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 31,400 | 31,300 | 31,500 | + 100 | 32,100 | 35,300 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 30,900 | 30,800 | 31,000 | + 100 | 31,500 | 34,700 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 31,300 | 31,200 | 31,400 | + 100 | 32,150 | 35,150 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 31,800 | 31,700 | 31,900 | + 100 | 32,750 | 35,200 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 34,000 | 33,900 | 34,100 | 0 | 34,500 | 35,200 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 33,500 | 33,400 | 33,600 | 0 | 34,000 | 35,000 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 37,700 | 37,500 | 37,900 | – 500 | 39,200 | 42,800 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 35,600 | 35,400 | 35,800 | 0 | 36,300 | 40,500 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 35,100 | 34,900 | 35,300 | 0 | 36,200 | 39,800 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 35,800 | 35,400 | 35,900 | 0 | 36,300 | 39,100 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 39,000 | 38,800 | 39,200 | 0 | 39,400 | 40,300 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 38,000 | 37,500 | 38,000 | 0 | 38,750 | 39,500 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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