Today, Billet prices increase marginally by INR 100-200/MT in Central & East India over better demand from local rolling mills. However, in South region – Hyderabad the producers have cut Billet prices by INR 500/MT due to lower offers from out-side state based suppliers.
In context to price movement of Sponge iron, the manufacturers in Central & Eastern regions have slightly raise prices by INR 100-200/MT due to tight supply.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 30,400-34,300/MT (USD 442-499) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 19,000-21,700/MT (USD 276-316); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 26th July 2018 (Thursday) INR to USD exchange rate stood at INR 68.70
— BSE Sensex closed at 36,984(+126) on Thursday, as against last day (Wednesday) at 36,858(+33).
Raw material
— KJS Ahluwalia, Kaypee Enterprises and RP Sao have increased Fe 63% iron ore fines prices by INR 150/MT to INR 2,400-2,450/MT (ex-mines, including Royalty, DMF & NMET), w.e.f 26th Jul’18, however lump prices remain unchanged.
— Imported scrap offers to India for HMS 1&2 (80:20) Dubai origin containers stood at around USD 335/MT, CFR Nhava Sheva
Semi finished
— Raipur, Central India based Integrated plants offers unaltered, offering Sponge P-DRI at INR 19,800/MT & Sponge DR CLO grade at INR 22,600-22,800/MT ex-plant.
— Raigarh based Singhal Steel offered P-DRI at INR 19,300/MT ex- plant, an official reported. Also, the company is offering Billets to Raipur at INR 30,900-31,000/MT FoR.
— Sources reported, few Raigarh based furnace owners are buying sponge from Barbil (Odisha) at INR 21,300/MT on FoR basis.
— BIOP Steels in South India has offered FeM 80 & 82 C-DRI lumps at INR 19,100/MT & INR 19,500/MT ex-plant, Karnataka. As per a official, buying interest is affected due to transportation strike.
— BMM Ispat, a renowned sponge manufacturer offering FeM 80 P-DRI lumps at INR 18,400/MT ex-Bellary, Karnataka.
— Hare Krishna, a 300 TPD sponge manufacturer in Bellary, Karnataka has offered FeM 80 P-DRI at INR 18,500/MT ex-plant, an official reported. He added that, no major deals concluded as of now due to logistic concern.
— South India (Telangana) based Cauvery Iron & Steel offers FeM 80 P-DRI & billet at INR 19,200/MT & INR 33,000/MT. Also offering 28 MM Rebar at INR 35,000/MT. prices are ex-plant & excluding GST.
Finish Long
— Gujarat based Shreeyam Power & Steel Industries Ltd increased prices by around INR 300/MT d-o-d basis & offering 20 mm rebar at INR 43,600/MT FoR & including GST at 18%.
— East region based – Baba Smelter Pvt. Ltd has unchanged their Structure (125,150 Channel) offers on day basis & current basic offering at INR 37,750/MT, ex-work & excluding GST.
— South region, Chennai based manufacturer – Tulsyan NEC Steel (Tulsyan) has offered 12 mm Rebar at INR 40,000/MT, ex-plant & excluding GST.
— Jalna based rebar manufacturer Rajuri Steel Pvt Ltd has decreased their price range by around INR 600/MT & current offering 28 mm rebar at around INR 33,400/MT, ex-work & excluding GST.
— North region based Rathi Steels have unchanged their prices on day basis & current offering 12 mm rebar at INR 38,700/MT, excluding 18% GST.
— The suppliers in Raipur have kept their trade discount more or less unchanged on Wire rod and current discount range at INR 800-1,200/MT.
Reference prices as on 26th July 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Mumbai | HMS(80:20) | 24,700 | 24,600 | 24,800 | 0 | 24,500 | 25,200 |
| Ex-Chennai | HMS(80:20) | 22,700 | 22,600 | 22,800 | 0 | 22,600 | 24,900 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 20,300 | 20,300 | 20,500 | 0 | 20,400 | 22,000 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 20,600 | 20,500 | 20,700 | 0 | 20,600 | 20,700 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 21,700 | 21,600 | 21,800 | 0 | 21,800 | 21,300 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,000 | 18,900 | 19,100 | 0 | 19,300 | 19,100 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 19,100 | 19,000 | 19,200 | 0 | 19,200 | 21,000 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 19,750 | 19,700 | 19,800 | – 50 | 19,900 | 19,400 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 18,500 | 18,400 | 18,500 | + 100 | 18,600 | 18,400 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 19,000 | 18,900 | 19,200 | + 200 | 19,000 | 19,500 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 33,800 | 33,700 | 33,900 | + 200 | 34,200 | 37,600 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 30,900 | 30,800 | 31,000 | + 200 | 31,100 | 34,500 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 30,050 | 30,000 | 30,100 | + 50 | 30,500 | 33,400 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 30,200 | 30,100 | 30,300 | + 100 | 31,000 | 33,700 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 31,400 | 31,300 | 31,500 | – 100 | 31,450 | 34,300 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 33,500 | 33,400 | 33,700 | 0 | 33,500 | 34,200 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 32,700 | 32,600 | 32,800 | – 500 | 33,200 | 33,700 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 34,300 | 34,200 | 34,400 | + 200 | 34,700 | 38,000 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 31,500 | 31,400 | 31,600 | + 200 | 31,600 | 34,900 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 30,800 | 30,700 | 30,900 | – 100 | 31,200 | 34,000 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 31,100 | 31,000 | 31,200 | + 200 | 31,600 | 34,700 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 31,700 | 31,600 | 31,800 | – 50 | 31,800 | 34,500 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 34,000 | 33,900 | 34,200 | 0 | 34,000 | 34,700 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 33,000 | 32,900 | 33,100 | – 500 | 33,500 | 34,000 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 37,500 | 37,300 | 37,700 | 0 | 38,500 | 41,900 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 35,500 | 35,300 | 35,700 | + 200 | 36,100 | 39,800 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 34,500 | 34,300 | 34,700 | – 300 | 35,400 | 39,300 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 35,600 | 35,400 | 35,800 | – 200 | 35,800 | 38,400 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 38,900 | 38,700 | 39,100 | 0 | 39,200 | 39,800 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 37,500 | 37,300 | 37,700 | – 500 | 38,000 | 39,000 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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