Indian Billet market reported mix trends today as prices in Eastern region increased sharply by upto INR 500/MT (USD 7.5), supported by export deals. However, in rest of major markets it marked decline of INR 100-300/MT on limited inquiries.
Similar price movements being observed in Sponge iron market, in which prices in Central region declined by INR 100-200/MT. Although in East region it increased – Durgapur by INR 1,000/MT & in Rourkela by INR 300/MT, day-on-day.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 32,700-36,200/MT (USD 476-528) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 20,300-23,600/MT (USD 296-344); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 9th August 2018 (Thursday) INR to USD exchange rate stood at INR 68.67
— BSE Sensex closed at 38,024(+136) on Thursday, as against last day (Wednesday) at 37,887(+221).
Raw material
— KIOCL has invited a tender for supply of 120,000 DMT Iron ore concentrate – haematite from overseas suppliers. The due date for bid submission is 10 Aug’18.
— 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
— South African RB2 (5500 NAR) coal offers are assessed at USD 86/MT on FoB basis & USD 100/MT CNF India. Prices remain stable in a week trade activities.
Semi finished
— Indian induction grade billet export offers to Nepal is hovering at USD 490/MT ex-mill, Durgapur & loaded to rake, Odisha, Eastern India.
— Raipur, Central India based Integrated plants offer decreased by INR 100-200/MT, offering Sponge P-DRI at INR 21,700-21,800/MT & Sponge DR CLO grade at INR 24,000-24,200/MT ex-plant.
— Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 22,000/MT & billet at INR 32,800-32,900/MT ex-plant.
— A renowned Billet manufacturer in Odisha sold good quantity of Billets to Jalna (Maharashtra) at INR 32,800/MT on ex-plant basis, Freight via road at INR 1,700-1,900/MT. As per officials, they have hold fresh export deals to Nepal due to better realization in domestic market.
— Odisha based medium size sponge manufacturers selling FeM 80 C-DRI (70:30 mix material) at INR 22,800-23,000/MT FoR Raipur, excluding GST.
— Raigarh based Singhal Steel offered Sponge P-DRI at INR 21,800/MT & Billets at INR 33,400/MT FoR Raipur, officials reported.
— BIOP Steels in South India has offered FeM 80 & 82 C-DRI lumps at INR 20,400/MT & INR 20,900/MT ex-plant, Karnataka.
— Apple Industries in Bellary (Karnataka) offered Sponge FeM 82 C-DRI lump at INR 21,000/MT & Billet at INR 35,000/MT ex-plant. Majorly deals concluded for Bangalore & Chennai, an official reported.
— South India (Telangana) based Cauvery Iron & Steel offers FeM 80 P-DRI at INR 20,000/MT, Billet at INR 35,200/MT & 28 mm rebars at INR 36,000/MT, ex-plant & excluding GST.
Finish Long
— Jalna based rebar manufacturer Rajuri Steel Pvt Ltd has unchanged their offers on day basis & current offering basic rebar 28 mm at around INR 36,000/MT, ex-work & excluding GST.
— Gujarat based Shreeyam Power & Steel Industries Ltd unchanged their rebar offers on day basis & current offering 20 mm at INR 45,700/MT FoR & including 18% GST. Further the Billet offers at INR 35,500/MT & Sponge P-DRI at INR 21,000/MT, excluding GST.
— Shakti Ferro Alloys in Chennai, South region has unchanged Rebar at INR 40,000/MT (12 mm) and slight increase in Billet to INR 35,500/MT with advance payment term, ex-work & excluding GST.
— East region based – Baba Smelter Pvt. Ltd has increased their Structure offers by around INR 500/MT on day basis & current (125,150 Channel) offering at INR 38,750/MT, ex-work, excluding GST.
— Central region, Raipur based brand – SPEED TMT has unchanged their price on day basis and current offering at INR 34,600/MT (28 mm), ex-work & excluding GST.
— As per participants, Rebar has observed slow buying inquiries from last couple of days and assuming minor corrections may get noticed for getting better future bookings.
— The suppliers in Raipur have slightly increased trade discount on Wire rod due to limited inquiries and current discount range at INR 600-1,100/MT.
Reference prices as on 9th August 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 25,600 | 25,500 | 25,700 | + 100 | 24,200 | 24,200 |
| Ex-Chennai | HMS(80:20) | 23,000 | 22,900 | 23,100 | 0 | 22,600 | 23,500 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 23,600 | 23,500 | 23,700 | + 1,000 | 21,400 | 20,200 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 21,900 | 21,800 | 22,000 | + 300 | 20,600 | 20,700 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 23,100 | 23,000 | 23,200 | – 100 | 22,000 | 21,200 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 20,300 | 20,200 | 20,400 | + 200 | 19,300 | 18,900 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 22,400 | 22,300 | 22,500 | + 1,000 | 20,100 | 19,200 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 21,750 | 21,700 | 21,800 | – 150 | 20,250 | 19,300 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,500 | 19,400 | 19,600 | + 100 | 18,600 | 18,300 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 19,900 | 19,800 | 20,000 | + 100 | 19,100 | 18,700 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 35,800 | 35,700 | 35,900 | – 100 | 34,500 | 34,000 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 33,200 | 33,100 | 33,300 | + 500 | 31,700 | 31,300 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 32,000 | 31,900 | 32,100 | – 200 | 30,300 | 30,600 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 32,500 | 32,400 | 32,600 | – 350 | 30,800 | 30,800 | |
| Ex-Ahmedabad | 3.5 x 4.5 Inch, IS 2830 | 34,750 | 34,700 | 34,800 | – 250 | 33,000 | 31,900 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 35,300 | 35,200 | 35,500 | + 200 | 34,200 | 34,000 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 34,700 | 34,600 | 34,800 | 0 | 33,200 | 33,500 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 36,200 | 36,100 | 36,300 | – 200 | 35,100 | 34,500 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 33,700 | 33,600 | 33,800 | + 500 | 32,300 | 31,800 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 32,800 | 32,700 | 32,900 | + 100 | 31,000 | 31,300 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 33,300 | 33,200 | 33,400 | – 200 | 31,600 | 31,400 | |
| Ex-Ahmedabad | 125×125 mm, IS 2831 | 35,200 | 35,100 | 35,300 | – 300 | 33,350 | 32,500 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 35,800 | 35,700 | 36,000 | + 200 | 34,700 | 34,500 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 35,000 | 34,900 | 35,200 | 0 | 33,500 | 33,750 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 38,700 | 38,500 | 38,900 | + 200 | 36,700 | 39,200 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 36,800 | 36,600 | 37,000 | + 400 | 35,600 | 36,500 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 36,600 | 36,500 | 36,800 | 0 | 34,600 | 36,200 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 38,200 | 37,800 | 38,300 | 0 | 36,200 | 36,500 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 40,000 | 39,800 | 40,200 | + 200 | 39,000 | 39,500 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 38,700 | 38,500 | 39,000 | – 300 | 37,500 | 38,500 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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