Indian Billet prices increased sharply on day trade activities on improved domestic demand, with constant rise in sponge prices owing to seasonal supply crunch.
The integrated plants in Raipur, who are selling Sponge iron more than 500 MT per day, reported healthy bookings with an increase in price today by INR 400-500/MT. Similar comments being received from East & South regions where major suppliers have increased prices by INR 300-500/MT and at the end of day sales closed with bulk bookings.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 32,100-36,100/MT (USD 466-525) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 19,800-22,500/MT (USD 287-327); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 6th August 2018 (Monday) INR to USD exchange rate stood at INR 68.85
— BSE Sensex closed at 37,691(+135) on Monday, as against last day (Friday) at 37,556(+391).
Raw Material
— NMDC’s iron ore sales increased sharply by 49% M-o-M to 1.1 MnT in Jul’18 compared to 0.74MnT in Jun’18
— South African RB2 (5500 NAR) coal offers are assessed at USD 87/MT on FoB basis & USD 101/MT CNF India.
Semi Finished
— Raipur, Central India based Integrated plants have increased offers and offered Sponge P-DRI at INR 21,400-21,500/MT ex-plant.
— Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 21,000/MT & Billet at INR 31,800/MT ex-plant.
— Raigarh based Singhal Steel offered P-DRI at INR 20,300/MT ex-plant, an official reported. Also, the company is offering C-DRI at INR 21,700/MT ex-plant.
— BMM Ispat in Karnataka has closed its P-DRI sales at the prices of INR 19,000/MT e. An official mentioned that as of now they have sold quantities & expecting up side price corrections.
— BIOP Steels in South India has offered FeM 80 & 82 C-DRI lumps at INR 20,100/MT & 20,500/MT ex-plant, Karnataka; an official reported.
— South India (Telangana) based Cauvery Iron & Steel offers FeM 80 P-DRI & Billet at INR 19,800/MT & INR 34,500/MT. Also offering 28 MM Rebar at INR 36,000/MT. All prices are ex-plant & excluding GST.
— SAIL’s pig iron auction for 3,600 MT Steel grade Pig iron from its Rourkela Steel Plant (RSP) has received good response as the auction got concluded with increase bid prices by about INR 300-400/MT (USD 4-6). The base price for the tender was quoted by RSP at INR 27,850/MT and the auction got settled at INR 28,200-28,300/MT, ex-plant.
Finish Long
— Jalna based rebar manufacturer – SRJ Peety Steels Pvt Ltd branding Shree Om TMT increased their prices by around INR 100/MT on day basis and offering 28 mm rebar at INR 34,800/MT, ex-work & excluding GST.
— Central region, Raipur based brand – SPEED TMT has increased their price by INR 400/MT on day basis and current offering at INR 34,000/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 39,700/MT, size – 12 mm & excluding 18% GST.
— Mumbai, Maharashtra based Guardian TMT has raised rebar prices by INR 500/MT on day basis and current offering 12 mm rebar at INR 37,400/MT, ex-work & excluding GST.
— Shakti Ferro Alloys in Chennai, South region has unchanged Rebar at INR 39,000/MT (12 mm) with advance payment term, ex-work & excluding GST.
— South region based – Prime Gold Int’l Ltd increased their prices by INR 200/MT on day basis & current offering rebars at INR 49,800/MT (12 mm) for Chennai & INR 50,700/MT (8 mm) for Banglore, ex-work & including GST.
— Gujarat based, Keyur Ispat Ltd offering basic rebar at INR 45,000/MT Size – 20 mm, FoR & including GST at 18%, .
— The suppliers in Raipur have slightly reduced their trade discount on Wire rod and current discount range at INR 600-800/MT.
Reference prices as on 6th August 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Mumbai | HMS(80:20) | 25,500 | 25,400 | 25,600 | + 100 | 25,000 | 24,500 |
| Ex-Chennai | HMS(80:20) | 22,600 | 22,500 | 22,700 | 0 | 22,700 | 23,600 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 22,000 | 21,900 | 22,100 | + 200 | 21,200 | 21,600 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 21,100 | 21,000 | 21,200 | + 200 | 20,700 | 20,900 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 22,500 | 22,400 | 22,600 | + 150 | 22,000 | 21,600 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,800 | 19,700 | 19,900 | + 400 | 19,300 | 19,200 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 20,800 | 20,700 | 20,900 | + 200 | 19,900 | 20,600 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 21,400 | 21,300 | 21,500 | + 700 | 20,350 | 19,700 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,000 | 18,900 | 19,100 | + 200 | 18,600 | 18,500 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 19,500 | 19,400 | 19,600 | + 300 | 19,100 | 19,000 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 35,600 | 35,500 | 35,700 | + 650 | 33,600 | 35,900 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 32,300 | 32,200 | 32,400 | + 400 | 31,300 | 33,000 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 31,500 | 31,400 | 31,600 | + 900 | 30,200 | 32,100 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 32,200 | 32,100 | 32,300 | + 1,000 | 30,550 | 32,400 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 33,550 | 33,500 | 33,600 | + 50 | 32,050 | 32,600 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 34,700 | 34,600 | 34,800 | + 400 | 33,600 | 34,300 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 34,200 | 34,100 | 34,300 | + 500 | 33,200 | 33,700 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 36,100 | 36,000 | 36,200 | + 700 | 34,100 | 36,300 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 32,900 | 32,800 | 33,000 | + 500 | 31,900 | 33,500 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 32,100 | 32,000 | 32,200 | + 800 | 30,800 | 33,000 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 33,000 | 32,900 | 33,100 | + 900 | 31,400 | 33,400 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 33,900 | 33,800 | 34,000 | + 250 | 32,350 | 32,800 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 35,200 | 35,100 | 35,300 | + 400 | 34,100 | 34,800 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 34,500 | 34,400 | 34,600 | + 500 | 33,500 | 34,000 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 37,800 | 37,800 | 38,200 | + 400 | 37,000 | 40,200 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 36,100 | 35,900 | 36,300 | + 300 | 35,600 | 37,900 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 35,900 | 35,900 | 36,200 | + 800 | 34,700 | 37,900 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 37,100 | 36,900 | 37,300 | + 400 | 35,900 | 37,500 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 39,300 | 39,100 | 39,500 | + 100 | 38,700 | 39,700 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 38,000 | 37,800 | 38,200 | 0 | 37,500 | 39,000 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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