Indian Semis prices marginally fluctuates on day trade activities over mix trade activities. As per assessment, Billet prices fluctuate by INR 200-400/MT, however Sponge iron prices fall marginally by INR 100/MT.
As per participants, inquiries continue to remain sluggish from the local rolling mills due to limited demand of Finished products.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 30,600-34,500/MT (USD 446-504) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 19,300-21,900/MT (USD 281-320); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 31st July 2018 (Tuesday) INR to USD exchange rate stood at INR 68.53
— BSE Sensex closed at 37,606(+112) on Tuesday, as against last day (Monday) at 37,494(+157).
Raw material
— KIOCL (Kudremukh Iron Ore Company Limited) has recently concluded another deal of 50,000 MT pellets of Fe 64% grade (less than 2% alumina) at around USD 116-118/MT, FoB India for August shipment- Sources.
— South African RB2 (5500 NAR) coal offers are assessed at USD 87/MT on FoB basis & USD 101/MT CNF India.
— Local manufacturers in Raigarh are offering 60-14 Silico Manganese at around INR 64,500-65,000/MT ex-plant.
— Melting scrap offers in Western India- Gujarat fall by INR 2,000/MT in a month trade activities.
Semi finished
— Indian induction grade billet export offers to Nepal is hovering at USD 465/MT ex-mill, Durgapur & USD 455/MT ex-mill Odisha, Eastern India.
— Neo Metaliks based in Durgapur, East India has offered Steel grade pig iron at INR 29,500/MT. As per a official, buying interest is limited due to competitive landed cost of Odisha pig iron.
— Raipur, Central India based Integrated plants have reduced offers by INR 100-200/MT day-on-day and offering Sponge P-DRI at INR 20,100-20,300/MT ex-plant.
— Rashmi Metaliks in Durgapur, known as price trend setter, has offered Sponge P-DRI at INR 20,000/MT – Sources.
— Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 20,600/MT & Billet at INR 30,600/MT ex-plant.
— BMM Ispat, a renowned sponge manufacturer offering FeM 80 P-DRI lumps at INR 18,500-18,600/MT ex-Bellary, Karnataka.
Finish Long
— Super Smelters Ltd in Durgapur is offering Wire Rod 5.5 MM at around INR 36,500/MT, ex-works & GST extra.
— A Large Mill based in South India is offering Wire rod 5.5 MM, MS grade material at around INR 43,000/MT, ex-works & GST extra.
— Today, suppliers in Raipur have reduced trade discount on Wire rod and current discount is in the range of INR 800-1,200/MT.
— Indian Finish Long Steel production (Bar & rods and Structures) moved up by 4.53% to 23.78 MnT in Jan-Jun (H1) 2018 as against same time frame in last year at 22.75 MnT.
Reference prices as on 31st July 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Mumbai | HMS(80:20) | 25,000 | 24,900 | 25,100 | 0 | 24,500 | 25,000 |
| Ex-Chennai | HMS(80:20) | 22,700 | 22,600 | 22,800 | 0 | 22,600 | 24,500 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 21,200 | 21,100 | 21,300 | 0 | 20,300 | 22,000 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 20,600 | 20,500 | 20,700 | – 100 | 20,600 | 20,800 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 21,900 | 21,800 | 22,000 | – 100 | 21,700 | 21,800 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,300 | 19,200 | 19,400 | 0 | 18,900 | 19,200 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 19,900 | 19,800 | 20,000 | 0 | 19,100 | 20,900 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 20,200 | 20,100 | 20,300 | – 150 | 19,800 | 20,000 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 18,500 | 18,400 | 19,600 | – 100 | 18,300 | 18,500 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 19,000 | 18,900 | 19,100 | – 100 | 18,800 | 19,300 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 34,000 | 33,900 | 34,100 | + 400 | 33,800 | 36,400 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 31,300 | 31,200 | 31,400 | 0 | 30,700 | 33,600 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 30,000 | 29,900 | 30,100 | – 200 | 30,100 | 32,700 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 30,500 | 30,500 | 30,600 | – 50 | 30,400 | 33,100 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 32,000 | 31,900 | 32,100 | – 50 | 31,400 | 33,600 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 33,600 | 33,500 | 33,700 | 0 | 33,500 | 34,300 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 33,200 | 33,100 | 33,300 | 0 | 33,200 | 33,700 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 34,500 | 34,400 | 34,600 | + 400 | 34,300 | 36,900 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 32,000 | 31,900 | 32,100 | + 100 | 31,300 | 34,000 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 30,750 | 30,700 | 30,800 | – 50 | 30,900 | 33,400 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 31,200 | 31,100 | 31,300 | – 200 | 31,150 | 34,100 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 32,350 | 32,300 | 32,400 | 0 | 31,750 | 33,800 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 34,100 | 34,000 | 34,200 | 0 | 34,000 | 34,800 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 33,500 | 33,400 | 33,600 | 0 | 33,500 | 34,000 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 36,700 | 36,400 | 36,800 | – 300 | 37,400 | 41,500 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 35,600 | 35,400 | 35,800 | 0 | 35,500 | 38,600 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 34,400 | 34,200 | 34,600 | – 300 | 34,900 | 38,800 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 36,000 | 35,800 | 36,200 | + 100 | 35,800 | 38,200 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 38,700 | 38,500 | 39,000 | 0 | 38,900 | 39,800 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 37,500 | 37,300 | 37,700 | 0 | 38,000 | 38,750 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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