Today, Indian Semis prices increased marginally, Billet by INR 100-300/MT and Sponge iron by INR 100-200/MT amid steady demand. The producers in major markets stated, limited inventories as there was healthy bookings in last 3-4 days.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 32,700-36,400/MT (USD 476-531) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 20,100-23,200/MT (USD 293-338); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 8th August 2018 (Wednesday) INR to USD exchange rate stood at INR 68.64
— BSE Sensex closed at 37,887(+221) on Wednesday, as against last day (Tuesday) at 37,665(-26).
Key Updates
— NMDC’s sales from Karnataka recorded at 0.77 MnT, up more than two folds on monthly basis as against 0.35 MnT in June’18.
— Sources reported, Central India based major pellet maker- Godawari Power and Ispat closed pellet sales today and is not seen offering pellets in the merchant market, the company had increased offers yesterday evening to INR 6,700/MT (Basic, GST 18% extra) in Raipur.
— Rashmi Metaliks in Durgapur, today has raised sponge prices and offered P-DRI at INR 21,500/MT – sources.
— The integrated plants in Raipur, Central India have increased sponge prices by INR 200/MT day-on-day and offers P-DRI at around INR 22,000/MT ex-plant. However as per participants no major deals.
— Melting scrap price surge in a week duration – Western India- Gujarat by INR 1,200/MT, Mumbai by INR 600-700/MT & in South India- Chennai by INR 400-500/MT.
— According to the latest assessment of Coking coal, spot prices of the Premium HCC, Australia have increased by around USD 10-11/MT W-o-W & assessed at USD 195.95/MT CNF India
— Jindal Steel has raised prices by INR 500/MT (USD 7.5) and the latest price for Steel grade Pig iron reported at INR 29,500/MT ex-plant, Raigarh & Panther shots (Granulated Pig iron) at INR 28,000/MT ex-plant, Odisha. However as per a official no fresh deals on increase prices.
— Tata Metaliks, one of India’s major foundry grade pig iron manufacturer has kept its prices unaltered for August’18 bookings.The latest offers are reported at INR 33,000/MT (USD 480) for high silicon, foundry grade pig iron. The offers are excluding 18% GST & ex-plant, Kharagpur, East India.
— The Indian export offers for steel grade Pig Iron are assessed at USD 375-385/MT FoB.
— Odisha’s largest sponge iron producer has offered export grade Sponge C-DRI (FeM 80, lumps) at around INR 22,400-22,500/MT (USD 326-328), Ex-plant.
— BMM Ispat, a renowned sponge manufacturer offering FeM 80 P-DRI lumps at INR 19,300-19,400/MT ex-Bellary, Karnataka.
— Apple Industries in Bellary (Karnataka) offered Sponge FeM 82 C-DRI lump at INR 20,700-20,800/MT & Billet at INR 34,500/MT ex-plant.
— Kalika TMT offers unchanged at around INR 38,300/MT (12-25 mm), ex-Jalna & excluding GST.
— Guardian TMT offers increased by INR 300/MT & offering at around INR 36,200/MT (10-32 mm), ex-Mumbai & excluding GST
— The suppliers in Raipur have slightly increased trade discount on Wire rod and current discount range at INR 400-800/MT.
Reference prices as on 8th August 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Mumbai | HMS(80:20) | 25,650 | 25,600 | 25,700 | 0 | 25,000 | 24,400 |
| Ex-Chennai | HMS(80:20) | 23,000 | 22,900 | 23,100 | + 150 | 22,600 | 23,500 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 22,600 | 22,500 | 22,700 | + 200 | 21,400 | 20,900 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 21,600 | 21,500 | 21,800 | + 200 | 20,700 | 20,800 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 23,200 | 23,100 | 23,300 | + 200 | 22,000 | 21,300 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 20,100 | 20,000 | 20,200 | + 100 | 19,300 | 19,100 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 21,400 | 21,300 | 21,500 | + 200 | 20,200 | 19,800 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 21,900 | 21,800 | 22,000 | + 100 | 20,300 | 19,500 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,400 | 19,300 | 19,500 | + 100 | 18,500 | 18,300 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 19,800 | 18,700 | 19,900 | + 200 | 19,000 | 18,800 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 35,900 | 35,800 | 36,000 | – 100 | 33,800 | 34,700 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 32,700 | 32,600 | 32,800 | + 100 | 31,600 | 31,900 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 32,200 | 32,100 | 32,300 | + 100 | 30,050 | 31,000 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 32,850 | 32,800 | 32,900 | – 50 | 30,600 | 31,300 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 34,500 | 34,400 | 34,600 | + 250 | 32,200 | 31,700 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 35,100 | 35,000 | 35,300 | + 200 | 33,900 | 34,000 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 34,700 | 34,600 | 34,800 | 0 | 33,000 | 33,700 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 36,400 | 36,300 | 36,500 | – 100 | 34,300 | 35,200 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 33,200 | 33,100 | 33,300 | + 100 | 32,200 | 32,400 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 32,700 | 32,600 | 32,800 | + 200 | 30,850 | 31,900 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 33,500 | 33,400 | 33,600 | 0 | 31,400 | 32,000 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 34,800 | 34,700 | 34,900 | + 300 | 32,500 | 32,000 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 35,600 | 35,500 | 35,800 | + 200 | 34,400 | 34,500 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 35,000 | 34,900 | 35,100 | 0 | 33,300 | 34,000 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 38,500 | 38,400 | 38,700 | 0 | 36,700 | 39,700 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 36,400 | 36,200 | 36,600 | 0 | 35,600 | 37,100 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 36,600 | 36,600 | 36,800 | 0 | 34,400 | 36,700 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 38,200 | 38,000 | 38,400 | + 500 | 36,000 | 37,000 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 39,800 | 39,600 | 40,000 | + 200 | 38,900 | 39,500 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 39,000 | 38,800 | 39,200 | 0 | 37,500 | 38,500 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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