Indian Semis prices increase further on improved demand and with surge in sponge prices. On day trade activities, Billet prices moved up by INR 100-500/MT & Sponge iron by INR 100-300/MT.
The Billet manufacturers in Central & Western India stated better demand from local market. While, Sponge producers in major markets claimed short supply over frequent good deals and seasonal low productions.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 31,100-35,300/MT (USD 453-515) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 19,300-22,200/MT (USD 281-324); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 3rd August 2018 (Friday) INR to USD exchange rate stood at INR 68.54
— BSE Sensex closed at 37,556(+391) on Friday, as against last day (Thursday) at 37,165(-356).
Raw material
— Indian iron ore exports in Jul’18 witnessed at 0.17 MnT, down 50% M-o-M as against 0.34 MnT in Jun’18,as per the Vessel line up data maintained by the SteelMint.
— BRPL raises Pellet production by around 25-30%- Sources. According to customs data maintained with SteelMint, BRPL exported 0.28 MnT pellets in Jul’18 compared to 0.23 MnT in June’18.
Semi finished
— Induction grade Billet export offers to Nepal is hovering at around USD 465/MT ex-mill, Durgapur & Rouekela. However as per participants no major deals at this prices.
— Raipur, Central India based Integrated plants have increased offers by INR 300-400/MT day-on-day and offering Sponge P-DRI at INR 20,500-20,700/MT ex-plant.
— Raigarh based Singhal Steel offered P-DRI at INR 20,500/MT FoR Raipur, an official reported. Also, the company is offering Billets at INR 31,900/MT FoR Raipur.
— Raigarh based smelters purchased 80 FeM C-DRI mix material from Odisha at INR 21,300/MT FoR Raigarh
— Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 20,800/MT & Billet at INR 31,000/MT ex-plant.
— Govindam Sponge, an Odisha based plant offered FeM 80 sponge mix material at INR 21,000/MT & lumps at INR 21,300/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.
— Hare Krishna, a 300 TPD sponge manufacturer in Bellary, Karnataka has offered FeM 80 P-DRI at INR 18,600-18,800/MT ex-plant, an official reported.
— Bellary, Karnataka based furnace owners increased billet offers to INR 34,000/MT ex-plant over increased inquiries from Chennai (Tamil Nadu).
Finish Long
— Jalna based rebar manufacturer – SRJ Peety Steels Pvt Ltd branding Shree Om TMT increased their prices by around INR 700/MT on day basis and offering 28 mm rebar at INR 34,700/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 32,600/MT (28 mm), ex-work & excluding GST.
— North region based Rathi Steels have lifted their prices by INR 750/MT on day basis and current offering at INR 38,600/MT, size – 12 mm & excluding 18% GST.
— Mumbai, Maharashtra based Guardian TMT has raised rebar prices by INR 300/MT on day basis and current offering 28 mm rebar at INR 33,500/MT, ex-work & excluding GST.
— Raipur Power and Steel Ltd offering Wire Rod (5.5 MM) at INR 37,200/MT & Raw Pellet at INR 6,500/MT, Silico Manganese at INR 65,000/MT, Sponge P-DRI at INR 20,600/MT, Ex-Mill & Excluding GST.
— Gujarat based Shreeyam Power & Steel Industries Ltd increased their prices by INR 400/MT on day basis and offering TMT at INR 44,400/MT FoR & including GST at 18%, Size – 20 mm.
— East region based – Baba Smelter Pvt. Ltd has unchanged their Structure offers which is stable since from a week & current (125,150 Channel) offering at INR 37,750/MT, ex-work, excluding GST.
— Jalna based rebar manufacturer Rajuri Steel Pvt Ltd has increased their price range by around INR 400/MT & current offering basic rebar 28 mm at around INR 34,400/MT, ex-work & excluding GST. As per official view market should get sustain for near term as demand seems improved.
— West region based Bhagwati Ferro Metal (P) Ltd increased their by around INR 300/MT on day basis and current offering Rebar 28 mm at INR 33,400/MT for Mumbai, Ex-work & excluding GST.
— The suppliers in Raipur have unchanged their trade discount on Wire rod and current discount range at INR 600-1,100/MT.
Reference prices as on 3rd August 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Mumbai | HMS(80:20) | 25,200 | 25,100 | 25,300 | + 200 | 24,800 | 24,800 |
| Ex-Chennai | HMS(80:20) | 22,600 | 22,500 | 22,700 | 0 | 22,700 | 24,000 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 21,600 | 21,500 | 21,700 | + 200 | 20,900 | 22,000 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 20,800 | 20,700 | 21,000 | + 200 | 20,700 | 20,900 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 22,200 | 22,100 | 22,300 | + 200 | 21,900 | 21,800 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,300 | 19,200 | 19,400 | 0 | 19,200 | 19,200 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 20,300 | 20,200 | 20,400 | + 200 | 19,500 | 21,000 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 20,600 | 20,500 | 20,700 | + 350 | 20,000 | 19,900 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 18,600 | 18,500 | 18,700 | 0 | 18,600 | 18,400 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 19,200 | 19,100 | 19,300 | + 100 | 19,100 | 19,000 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 34,800 | 34,700 | 34,900 | + 300 | 34,200 | 36,500 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 31,800 | 31,700 | 31,900 | + 100 | 31,300 | 33,400 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 30,300 | 30,200 | 30,400 | 0 | 30,100 | 32,400 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 31,050 | 31,000 | 31,100 | + 250 | 30,800 | 32,900 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 32,800 | 32,700 | 32,900 | + 400 | 31,550 | 33,150 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 34,300 | 34,100 | 34,500 | + 100 | 33,500 | 34,300 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 33,500 | 33,300 | 33,700 | + 300 | 32,700 | 34,200 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 35,300 | 35,200 | 35,400 | + 200 | 34,700 | 37,000 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 32,200 | 32,100 | 32,300 | – 100 | 31,900 | 33,900 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 31,100 | 31,000 | 31,200 | + 100 | 30,800 | 33,200 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 31,900 | 31,800 | 32,000 | + 300 | 31,500 | 33,900 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 33,100 | 33,000 | 33,200 | + 400 | 31,750 | 33,350 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 34,800 | 34,600 | 35,000 | + 100 | 34,000 | 34,800 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 33,700 | 33,500 | 34,000 | + 200 | 33,000 | 34,500 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 37,200 | 37,100 | 37,400 | + 500 | 37,500 | 40,800 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 35,800 | 35,600 | 36,000 | + 200 | 35,600 | 38,100 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 34,700 | 34,500 | 34,900 | + 100 | 34,500 | 38,400 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 36,500 | 36,300 | 36,700 | + 300 | 35,600 | 37,700 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 39,200 | 39,000 | 39,400 | + 200 | 38,900 | 39,900 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 37,500 | 37,300 | 37,700 | 0 | 37,500 | 39,250 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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