Indian Steel prices increase further on day trade activities on improved inquiries and hike in raw material prices. The prices of Billet have increased about INR 200-800/MT (USD 2-11) & Sponge iron by INR 200-600/MT (USD 2-9), day-on-day.
Major price rise seen in Central India (Raipur)- billet by around INR 800/MT & Sponge pellet by INR 600/MT due to rise in raw material prices.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 34,000-37,600/MT (USD 4857-527) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 21,100-24,400/MT (USD 301-348); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 23rd August 2018 (Thursday) INR to USD exchange rate stood at INR 70.13
— BSE Sensex closed at 38,336(+51) on Thursday, as against last day (Wednesday) at 38,285(+7).
Raw Materials
— According to the latest assessment of Coking coal, spot prices of the Premium HCC are reported at around USD 183.75/MT FoB Australia & USD 198.5/MT CNF India.
— Odisha based merchant miners- RP Sao, KJS Ahluwalia , Rungta mines & Kaypee Enterprises have increased iron ore prices by INR 300/MT
— South Korean mill booked Indian pellet cargo at USD 145.5/MT, CFR
Semi Finished
— Jindal Steel has offer Steel grade Pig iron at INR 30,000/MT ex-plant, Raigarh & Panther shots (Granulated pig iron) at INR 28,500/MT ex-plant, Angul – Odisha.
— Steel grade pig iron prices increased slightly in Central & East regions by INR 200-500/MT (USD 3-6) amid surge Billet prices.
— Raipur, Central India based Integrated plants have increased offers by INR 600/MT day-on-day and offering Sponge P-DRI at INR 23,500-23,700/MT ex-plant.
— Rashmi Metaliks in Durgapur, known as price trend setter, has offered Sponge P-DRI at INR 23,100-23,200/MT – Sources.
— Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 23,100-23,200/MT & billet at INR 33,800-33,900/MT ex-plant.
— BMM Ispat in South India (Karnataka) has increased offers for FeM 80 P-DRI by INR 200-300/MT to INR 20,300-20,400/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 21,500/MT & INR 22,000/MT ex-plant, Karnataka; an official reported.
— Apple Industries in Bellary (Karnataka) offered Sponge FeM 82 C-DRI lump at INR 21,700/MT & Billet at INR 35,000/MT ex-plant.
Finish Long
— Central region, Raipur based brand – SPEED TMT has increased their price by INR 700/MT on day basis and current offering at INR 36,300/MT (28 mm), ex-work & excluding GST.
— Jalna based Roopam Steels offering basic Rebar at INR 36,000/MT basic, ex-plant & excluding GST.
— Shakti Ferro Alloys in Chennai, South region has unchanged Rebar at INR 40,000/MT (12 mm) and Billet INR 35,500/MT with immediate payment term, ex-work & excluding GST.
— Jalna based rebar manufacturer – SRJ Peety Steels Pvt Ltd branding Shree Om TMT increased their prices by INR 100/MT (28 mm) rebar prices to INR 35,900/MT, ex-work & excluding GST.
— Rathi Steels in North region offering at INR 41,500/MT, size – 12 mm & excluding 18% GST.
— Gujarat based Shreeyam Power & Steel Industries Ltd decreased their offers by around INR 500/MT on day basis & current offering TMT at INR 47,000/MT FoR & including GST at 18%, Size – 20 mm, Billet at 36,400-36,500/MT, excluding GST.
— East region Based – Shakambhari Ispat & Power Ltd has offered Wire Rod 5.5 mm at INR 40,700/MT, Rebar at INR 39,300/MT (12 mm) ex-work, excluding GST.
— South India – Chennai based ARS Trusteel reported unchanged their prices against last day trades. The current offers for Rebar 12 MM at INR 41,500/MT, ex-plant & excluding GST.
— Prakash Ferrous Industries Pvt. Ltd (Tirumala) based in Chennai has offered Rebar 12mm at INR 41,000/MT ex-plant & excluding GST.
— The suppliers in Raipur have decreased trade discount on Wire rod and current discount range at INR 400-500/MT
Reference prices as on 23rd August 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Mumbai | HMS(80:20) | 25,600 | 25,500 | 25,700 | + 200 | 25,100 | 24,700 |
| Ex-Chennai | HMS(80:20) | 23,800 | 23,700 | 23,900 | + 100 | 23,600 | 22,700 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 24,200 | 24,100 | 24,300 | + 200 | 23,900 | 20,300 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 23,100 | 23,000 | 23,200 | + 300 | 22,200 | 20,600 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 24,400 | 24,300 | 24,500 | + 300 | 23,550 | 21,700 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 21,100 | 21,000 | 21,200 | + 300 | 20,400 | 19,000 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 23,200 | 23,100 | 23,300 | + 400 | 22,800 | 19,100 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 23,600 | 23,500 | 23,700 | + 600 | 22,700 | 19,750 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 20,400 | 20,300 | 20,500 | + 300 | 19,600 | 18,500 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 20,700 | 20,600 | 20,800 | + 100 | 20,100 | 19,000 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 37,200 | 37,100 | 37,300 | + 300 | 36,950 | 33,800 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 34,700 | 34,600 | 34,800 | + 100 | 33,900 | 30,900 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 33,200 | 33,100 | 33,300 | + 300 | 32,700 | 30,050 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 34,000 | 33,900 | 34,100 | + 500 | 33,400 | 30,200 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 34,600 | 34,500 | 34,700 | + 200 | 34,300 | 31,400 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 35,000 | 34,900 | 35,100 | 0 | 35,600 | 33,500 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 34,700 | 34,600 | 34,800 | + 500 | 34,700 | 32,700 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 37,600 | 37,500 | 37,700 | + 300 | 37,450 | 34,300 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 35,200 | 35,100 | 35,300 | + 100 | 34,400 | 31,500 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 34,000 | 33,900 | 34,100 | + 400 | 33,300 | 30,800 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 35,000 | 34,900 | 35,100 | + 700 | 34,200 | 31,100 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 34,900 | 34,800 | 35,000 | + 200 | 34,500 | 31,700 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 35,500 | 35,400 | 35,600 | 0 | 36,100 | 34,000 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 35,000 | 34,900 | 35,100 | + 500 | 35,000 | 33,000 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 39,800 | 39,700 | 40,000 | + 400 | 38,600 | 37,500 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 38,500 | 38,300 | 38,700 | + 300 | 37,500 | 35,500 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 38,300 | 38,200 | 38,500 | + 700 | 37,100 | 34,500 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 38,400 | 38,000 | 38,500 | + 500 | 38,100 | 35,600 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 39,900 | 39,700 | 40,000 | + 100 | 40,300 | 38,900 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 38,500 | 38,300 | 38,700 | + 500 | 38,500 | 37,500 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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