Indian Billet prices increase today by INR 100-400/MT on improved demand from local re-rollers & better export inquiries. However, Sponge iron prices fluctuate by INR 100/MT on day trade activities.
The major Billet producers in South India have concluded export deals for South East Asia. Similarly, export deals to Nepal from Eastern India remain on daily basis, as reported by trade participants.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 31,000-35,100/MT (USD 451-511) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 19,300-22,000/MT (USD 281-320); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 2nd August 2018 (Thursday) INR to USD exchange rate stood at INR 68.67
— BSE Sensex closed at 37,165(-356) on Thursday, as against last day (Wednesday) at 37,521(-84).
Raw material
— Indian iron ore imports from South Africa dropped 80% M-o-M to 0.11 MnT in June’18, as against 0.54 MnT in May’18.
— JSPL (Jindal steel and power) has increase pellet production by 6% to 6.86MnT in FY’18 against 6.45MnT in FY’17
— Imported scrap offers to India remains stable since last week; HMS 1&2 (80:20) Dubai origin containers stood at USD 330/MT, CFR Nhava Sheva
— Local manufacturers in Raigarh are offering 60-14 Silico Manganese at around INR 64,500-65,000/MT ex-plant.
Semi finished
— Rashtriya Ispat Nigam Limited (RINL) has re-issued tender for export of 10,000 MT Billets and 12,500 MT Wire Rod. The due date for submission of bids is 08 Aug’18.
— Neo Metaliks in Durgapur, East India has lower Pig iron prices due to competitive offer price from out side markets. The prices for Steel grade reported at INR 29,000-29,200/MT against last week at INR 29,300-29,500/MT ex-plant.
— MMTC concludes 15,000 MT Pig iron export tender at USD 380/MT FoB- Sources
— As per participants, Raipur, Central India based a integrated plant has sold out good quantities of Sponge P-DRI at around INR 20,200/MT ex-plant. However offers by other medium size plants reported in the range of INR 20,200-20,400/MT ex-plant
— Rashmi Metaliks in Durgapur, known as price trend setter, has offered Sponge P-DRI at INR 20,100-20,200/MT – Sources.
— Aloke Steel Industries (Jharkhand) offered Fem 78-80 C-DRI lumps at INR 20,700/MT & Sponge mix material (60:40) at INR 20,400/MT ex-plant
— Hare Krishna, a 300 TPD sponge manufacturer in Bellary, Karnataka has offered FeM 80 P-DRI at INR 18,500-18,700/MT ex-plant, an official reported.
— BIOP Steels in South India has offered FeM 80 & 82 C-DRI lumps at INR 19,400/MT & INR 19,800/MT ex-plant, Karnataka; an official reported. And added offer unaltered due to supported average demand.
— Bellary, Karnataka based furnace owners selling billet to Chennai (Tamil Nadu) at around INR 34,200-34,300/MT on FoR basis.
Finish Long
—. Shakti Ferro Alloys in Chennai, South region has unchanged Rebar prices at INR 39,000/MT (12 mm) and slight increase in Billet prices to INR 34,250/MT with advance payment term, ex-work & excluding GST.
— Jalna based Rebar manufacturer – SRJ Peety Steels Pvt Ltd branding Shree Om TMT unchanged on day basis and offering 28 mm Rebar at INR 34,000/MT, ex-work & excluding GST.
— Central region, Raipur based brand – SPEED TMT has increased their price by INR 200/MT on day basis and current offering at INR 32,400/MT (28 mm), ex-work & excluding GST.
— North region based Rathi Steels have unchanged their prices on day basis and current offering at INR 37,900/MT, size – 12 mm & excluding 18% GST.
— Mumbai, Maharashtra based Guardian TMT has raised rebar prices by INR 200/MT on day basis and current offering 28 mm Rebar at INR 33,200/MT, ex-work & excluding GST.
— Today, suppliers in Raipur reduced discount on Wire rod and current discount are in the range of INR 700-1,000/MT.
Reference prices as on 2nd August 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 | 24,700 | 24,900 |
| Ex-Chennai | HMS(80:20) | 22,600 | 22,500 | 22,700 | 0 | 22,700 | 24,100 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 21,400 | 21,300 | 21,500 | 0 | 20,300 | 21,800 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 20,600 | 20,500 | 20,600 | – 100 | 20,600 | 20,800 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 22,000 | 21,900 | 22,100 | 0 | 21,700 | 21,800 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,300 | 19,200 | 19,400 | 0 | 19,000 | 19,200 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 20,100 | 20,000 | 20,200 | – 100 | 19,100 | 20,800 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 20,250 | 20,200 | 20,300 | – 50 | 19,750 | 19,900 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 18,600 | 18,500 | 18,700 | + 100 | 18,500 | 18,500 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 19,100 | 19,000 | 19,200 | + 100 | 19,000 | 19,100 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 34,500 | 34,400 | 34,600 | + 700 | 33,800 | 36,100 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 31,700 | 31,600 | 31,800 | + 100 | 30,900 | 33,400 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 30,300 | 30,200 | 30,400 | + 250 | 30,050 | 32,100 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 30,800 | 30,700 | 30,900 | + 200 | 30,200 | 32,800 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 32,400 | 32,300 | 32,500 | + 200 | 31,400 | 33,200 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 34,200 | 34,000 | 34,500 | + 300 | 33,500 | 34,300 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 33,200 | 33,100 | 33,300 | + 200 | 32,700 | 33,700 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 35,100 | 35,000 | 35,200 | + 800 | 34,300 | 36,500 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 32,300 | 32,200 | 32,400 | + 100 | 31,500 | 33,800 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 31,000 | 30,900 | 31,100 | + 150 | 30,800 | 33,000 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 31,600 | 31,500 | 31,700 | + 200 | 31,100 | 33,750 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 32,700 | 32,600 | 32,800 | + 200 | 31,700 | 33,450 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 34,700 | 34,500 | 35,000 | + 300 | 34,000 | 34,800 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 33,500 | 33,400 | 33,600 | + 200 | 33,000 | 34,000 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 36,700 | 36,400 | 36,800 | 0 | 37,500 | 40,800 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 35,600 | 35,400 | 35,800 | 0 | 35,500 | 38,100 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 34,600 | 34,400 | 34,800 | + 200 | 34,500 | 38,300 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 36,200 | 36,000 | 36,400 | + 200 | 35,600 | 38,000 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 39,000 | 38,800 | 39,200 | + 100 | 38,900 | 39,800 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 37,500 | 37,300 | 37,700 | 0 | 37,500 | 38,750 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
Leave a Reply