Indian Semis manufacturers have further increased prices for Billet by INR 300-1,000/MT (USD 4-15) & Sponge iron by INR 300-600/MT (USD 4-9), day-on-day. As per standalone Billet producers, inquiries from local market improved, also as the margins are low, the prices of Billet have raised sharply.
Meanwhile the Industry participants stated, demand for finished products not much supported, however as the Semis prices spurt, the re-rollers have raised prices in same proportion.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 32,900-36,900/MT (USD 470-527) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 20,200-23,600/MT (USD 288-337); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 14th August 2018 (Tuesday) INR to USD exchange rate stood at INR 69.95
— BSE Sensex closed at 37,852(+207) on Tuesday, as against last day (Monday) at 37,644(-224).
Raw Materials
— KIOCL (Kudremukh Iron Ore Company Limited) – a state-owned company is to set up 2 MnT pellet plant in Ukkanagaram, Visakhapatnam, Andhra Pradesh.
— South African RB2 (5500 NAR) coal offers are assessed at USD 85/MT on FoB basis & USD 99/MT CNF India. Prices decline by USD 5-6/MT in a month trade activities.
— As per assessment, Imported scrap offers to India for HMS 1&2 (80:20) Dubai origin containers stood at around USD 333/MT, CFR Nhava Sheva.
Semi Finished
— Indian sponge iron export offers to Bangladesh for lumps of grade FeM 78-80, recorded at USD 340-345/MT CPT Benapole (dry land port of Bangladesh & India) and USD 360-365/MT CFR Chittagong, Bangladesh.
— Nepal the major buyer of Indian Billets recorded all time high in its monthly Billet imports & recorded an import of 133,900 MT Billets in July 2018.
— Raipur, Central India based Integrated plants offers increased by INR 400/MT, offering Sponge P-DRI at INR 22,100-22,200/MT & Sponge DR CLO grade at INR 24,200-24,400/MT ex-plant. As per a official of Integrated plant, local sponge prices are likely to increase further as shortage of iron pellet continues.
— Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 22,000/MT & Billet at INR 33,000/MT ex-plant.
— BIOP Steel in Karnataka has sale closed for Sponge iron after few bulk deals to Maharashtra, Western India. The average deal prices reported – for FeM 80 C-DRI at INR 20,400/MT & FeM 82 at INR 20,800/MT ex-plant & excluding GST.
— BMM Ispat, a renowned sponge manufacturer offering FeM 80 P-DRI lumps at INR 19,300-19,400/MT ex-Bellary, Karnataka.
Finish Long
— West region based Bhagwati Ferro Metal (P) Ltd increased their offers by INR 400/MT on day basis & current offering basic Rebar (28 mm) at INR 34,600/MT for Mumbai, Ex-work & excluding GST.
— Jalna based rebar manufacturer – SRJ Peety Steels Pvt Ltd branding Shree Om TMT increased their prices by INR 200/MT and current offering basic rebar at INR 35,400/MT, ex-work & excluding GST.
— Rathi Steels in North India – Delhi offering rebar at INR 39,400/MT, size – 12 mm & excluding 18% GST.
— Central region, Raipur based brand – SPEED TMT has increased their price by INR 600/MT on day basis and current offering at INR 34,500/MT (28 mm), ex-work & excluding GST.
— Shakti Ferro Alloys in Chennai, South region has unchanged Rebar at INR 40,000/MT (12 mm) and Billet at INR 35,500/MT with advance payment term, ex-work & excluding GST.
— The suppliers in Raipur have decreased trade discount on Wire rod and current discount range at INR 400-600/MT. As per sources, Prakash Industries in Raipur has sale closed today on account on decent booking.
Reference prices as on 14th August 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Mumbai | HMS(80:20) | 24,900 | 24,800 | 25,000 | – 100 | 25,650 | 24,500 |
| Ex-Chennai | HMS(80:20) | 23,300 | 23,200 | 23,400 | + 100 | 22,850 | 23,200 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 23,600 | 23,500 | 23,700 | + 600 | 22,400 | 20,450 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 21,900 | 21,800 | 22,000 | + 400 | 21,400 | 20,750 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 23,200 | 23,100 | 23,300 | + 300 | 23,000 | 21,700 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 20,200 | 20,100 | 20,300 | 0 | 20,000 | 19,300 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 22,400 | 22,300 | 22,500 | + 400 | 21,200 | 19,450 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 22,100 | 22,000 | 22,200 | + 400 | 21,800 | 19,950 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,300 | 19,200 | 19,400 | + 100 | 19,300 | 18,600 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 19,800 | 19,700 | 19,900 | + 100 | 19,600 | 19,100 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 36,400 | 36,300 | 36,500 | + 1,000 | 36,000 | 34,750 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 33,300 | 33,200 | 33,400 | + 500 | 32,600 | 31,500 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 32,100 | 32,000 | 32,200 | + 700 | 32,100 | 31,000 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 33,000 | 33,000 | 33,100 | + 1,000 | 32,900 | 31,400 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 33,750 | 33,700 | 33,800 | + 550 | 34,250 | 32,300 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 35,600 | 35,500 | 35,700 | 0 | 34,900 | 34,000 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 34,200 | 34,100 | 34,300 | 0 | 34,700 | 33,700 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 36,900 | 36,800 | 37,000 | + 1,000 | 36,500 | 35,200 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 34,000 | 33,900 | 34,100 | + 500 | 33,100 | 32,000 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 32,900 | 32,800 | 33,000 | + 500 | 32,500 | 31,500 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 33,600 | 33,500 | 33,700 | + 1,000 | 33,500 | 32,100 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 34,100 | 34,000 | 34,200 | + 700 | 34,500 | 32,700 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 36,100 | 36,000 | 36,200 | 0 | 35,400 | 34,500 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 34,500 | 34,400 | 34,600 | 0 | 35,000 | 34,000 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 38,200 | 38,000 | 38,400 | + 200 | 38,500 | 39,200 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 37,000 | 36,800 | 37,200 | + 400 | 36,400 | 36,300 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 36,500 | 36,500 | 36,700 | + 600 | 36,600 | 35,700 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 37,800 | 37,400 | 37,900 | + 400 | 37,700 | 36,400 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 40,200 | 40,000 | 40,400 | + 200 | 39,600 | 39,400 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 38,000 | 37,800 | 38,200 | 0 | 39,000 | 38,500 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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