Indian Semis prices fall over weak trade inquiries at high offers. As per SteelMint assessment the prices of Billet have declined by INR 100-500/MT & Sponge iron about INR 100-200/MT, day-on-day basis.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 33,700-37,300/MT (USD 482-534) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 20,800-24,100/MT (USD 297-345); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 20th August 2018 (Monday) INR to USD exchange rate stood at INR 69.82
— BSE Sensex closed at 38,278(+330) on Monday, as against last day (Friday) at 37,947(+284).
Raw Materials
— KIOCL (Kudremukh Iron Ore Company Limited) has recently concluded a deal of 50,000 MT pellets of Fe 64% grade (less than 2% alumina) at around USD 145/MT, FoB India- Sources.
— Bellary, Southern India based pellet makers have increased prices to INR 6,600-6,800/MT against the assessment made in the beginning of last week which was INR 6,350-6,450/M
— Local manufacturers in Raigarh are offering 60-14 Silico Manganese at around INR 64,000-64,500/MT ex-plant.
Semi Finished
— Raipur, Central India based Integrated plants offering Sponge P-DRI at INR 22,700-22,900/MT & Sponge DR CLO grade at INR 24,700-24,900/MT ex-plant
— Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 22,600/MT & Billet at INR 33,600/MT ex-plant.
— Raigarh based Singhal Steel offered P-DRI at INR 23,000/MT FoR Raipur, an official reported. Also, the company is offering Billets at INR 34,000-34,100/MT FoR Raipur.
— Raigarh based smelters purchased 80 FeM C-DRI mix material from Odisha at INR 23,100/MT FoR Raigarh
— BMM Ispat in South India (Karnataka) has increased offers for FeM 80 P-DRI by INR 200/MT to INR 20,200/MT ex-Bellary, an official reported.
— BIOP Steels in South India has increased sponge prices by around INR 300/MT, offering FeM 80 & 82 C-DRI lumps at INR 21,200/MT & INR 21,700/MT ex-plant, Karnataka; an official reported.
Finish Long
— Jalna based rebar manufacturer Rajuri Steel Pvt Ltd has kept their offers unchanged on daily basis & currently offering basic Rebar 28 mm at around INR 36,400/MT, ex-work & excluding GST.
— Central region – Raipur based brand – SPEED TMT has unchanged their price & offering 28 mm Rebar at INR 35,600/MT ex-work & excluding GST.
— South India – Chennai based ARS Trusteel offering Rebar 12 MM at INR 41,500/MT ex-plant & excluding GST.
— East region based – Baba Smelter Pvt. Ltd has kept unchanged their Structure offers on day basis & current (125,150 Channel) offering at INR 39,750/MT, ex-work, excluding GST.
— Gujarat based Shreeyam Power & Steel Industries Ltd offering TMT (Size – 20 mm) at INR 47,000/MT FoR & including GST at 18%
— The suppliers in Raipur have increased trade discount on Wire rod and current discount range is around INR 600-1,100/MT.
Reference prices as on 20th 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 | 0 | 25,000 | 24,500 |
| Ex-Chennai | HMS(80:20) | 23,600 | 23,500 | 23,800 | 0 | 23,200 | 22,600 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 24,100 | 24,000 | 24,200 | – 200 | 23,000 | 20,200 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 22,500 | 22,400 | 22,600 | 0 | 21,500 | 20,600 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 24,000 | 23,900 | 24,000 | 0 | 22,900 | 21,700 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 20,800 | 20,700 | 20,900 | 0 | 20,200 | 19,000 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 23,100 | 23,000 | 23,200 | – 100 | 22,000 | 19,000 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 22,800 | 22,700 | 22,900 | – 100 | 21,700 | 19,700 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 20,000 | 19,900 | 20,200 | 0 | 19,200 | 18,200 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 20,500 | 20,400 | 20,600 | 0 | 19,700 | 18,800 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 36,800 | 36,700 | 36,900 | – 200 | 35,400 | 33,900 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 34,500 | 34,400 | 34,700 | + 100 | 32,800 | 30,800 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 33,000 | 32,900 | 33,100 | – 100 | 31,400 | 30,200 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 33,300 | 33,200 | 33,400 | – 300 | 32,000 | 30,700 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 34,200 | 34,100 | 34,300 | – 200 | 33,200 | 31,500 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 35,500 | 35,400 | 35,600 | 0 | 35,600 | 33,500 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 34,700 | 34,600 | 34,800 | – 500 | 34,200 | 33,200 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 37,300 | 37,200 | 37,400 | – 200 | 35,900 | 34,400 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 35,100 | 35,000 | 35,200 | + 100 | 33,500 | 31,400 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 33,700 | 33,600 | 33,800 | + 200 | 32,400 | 30,900 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 34,300 | 34,200 | 34,400 | – 200 | 32,600 | 31,300 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 34,400 | 34,300 | 34,500 | – 300 | 33,400 | 31,800 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 36,000 | 35,900 | 36,100 | 0 | 36,100 | 34,000 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 35,000 | 34,900 | 35,100 | – 500 | 34,500 | 33,500 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 39,500 | 39,300 | 39,800 | 0 | 38,000 | 37,700 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 38,300 | 38,100 | 38,500 | + 100 | 36,600 | 35,600 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 37,600 | 37,400 | 37,800 | – 100 | 35,900 | 35,100 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 38,600 | 38,200 | 38,700 | 0 | 37,400 | 35,800 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 40,200 | 40,000 | 40,300 | 0 | 40,000 | 39,000 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 38,500 | 38,300 | 38,800 | – 500 | 38,000 | 38,000 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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