Indian Semis prices today observed slight down trend after the constant rise. As per assessment, the Billet prices declined by INR 200-700/MT (USD 3-9) & Sponge iron by INR 100-400/MT in Central & East regions.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 35,100-38,100/MT (USD 497-540) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 23,100-25,600/MT (USD 327-363); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 29th August 2018 (Wednesday) INR to USD exchange rate stood at INR 70.60
— BSE Sensex closed at 38,722(-173) on Wednesday, as against last day (Tuesday) at 38,896(+202).
Raw Materials
— Godawari Power & Ispat Ltd.(Central India) has recently concluded an export deal of 50,000 MT pellet to China at around USD 152/MT, CFR China for November shipment- Sources
— According to the latest assessment of Coking coal, spot prices of the Premium HCC are reported at around USD 183/MT FoB Australia & USD 198.65/MT CNF India.
— Singhal Steel, Raigarh (Central India) based manufacturer has offered 60-14 Silico Manganese at around INR 65,000-65,500/MT ex-plant
Semi Finished
— Indian induction grade billet export offers to Nepal is hovering at USD 520/MT ex-mill, Durgapur, Eastern India.
— Power cut by DVC in Industrial of Durgapur near about 50% , as per local Ingot/Billet manufacturers.
— Durgapur based Neo Metaliks has offer Steel grade Pig iron at INR 30,800-31,000/MT, however as per officials no fresh deals and the last deals reported at around INR 30,000-30,200/MT ex-plant.
— The market participants are assuming further hike in prices by NINL for Pig iron; they claimed that limited stock with the company due to healthy bookings in the last offers of INR 27,700-28,100/MT ex-plant.
— Raipur, Central India based Integrated plants offers unaltered, offering Sponge P-DRI at INR 24,500-24,600/MT & Sponge DR CLO grade at INR 26,500-26,700/MT ex-plant.
— Raigarh based Singhal Steel offered P-DRI at INR 24,700/MT FoR Raipur, an official reported. Also, the company is offering C-DRI at INR 24,300-24,400/MT ex-plant.
— Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 24,500/MT & Billet at INR 35,500/MT ex-plant.
— BMM Ispat in Karnataka has closed its Sponge P-DRI sales at the price of INR 22,500/MT. As per a official, as of now they have sold good quantities, hence over booked. Further he claimed that strong inquiries for P-DRI at INR 23,000/MT ex-plant.
— BIOP Steels in South India has offered FeM 80 & 82 C-DRI lumps at INR 23,000/MT & INR 23,600/MT ex-plant, Karnataka; an official reported.
— South India based Amoda iron & steel ltd is offering FeM 75 & 80 C-DRI lump at INR 21,800-22,000/MT & IINR 23,500/MT ex-plant (Hyderabad).
Finish Long
— As per market sources, Vizag Steel (RINL) received poor response in its ocean export tender of 10,000 MT Wire rod (5.5 mm, SAE 1008), which bid due date was on 28 Aug’18.
— Jalna based rebar manufacturer – SRJ Peety Steels Pvt Ltd branding Shree Om TMT unchanged their (28 mm) rebar prices at INR 37,800/MT, ex-work & excluding GST.
— Rathi Steels in North region decreased their prices by INR 750/MT on day basis & current offering at INR 42,700/MT, size – 12 mm & excluding 18% GST.
— Central region, Raipur based brand – SPEED TMT has unchanged their prices on day basis and current offering at INR 37,400/MT (28 mm), ex-work & excluding GST.
— South region based – VRKP Steel Industry Pvt Ltd – VRKP tmt offering rebars at INR 50,300/MT (8 mm), Ex-work & including GST.
— Gujarat Based, Keyur Ispat Ltd offering basic rebar at INR 48,000/MT FoR & including GST at 18%, Size – 20 mm.
— Prakash Ferrous Industries Pvt. Ltd (Tirumala) based in Chennai has offered Rebar 12mm at INR 42,000/MT with advance payment term, ex-plant & excluding GST.
— The suppliers in Raipur increased trade discount on Wire Rod and today’s discount at INR 600-1,400/MT.
Reference prices as on 29th August 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Mumbai | HMS(80:20) | 25,900 | 25,800 | 26,000 | + 100 | 25,400 | 25,000 |
| Ex-Chennai | HMS(80:20) | 24,900 | 24,800 | 25,000 | + 600 | 23,700 | 22,600 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 24,500 | 24,400 | 24,600 | – 300 | 24,000 | 21,400 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 24,500 | 24,400 | 24,600 | 0 | 22,800 | 20,700 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 25,600 | 25,400 | 25,600 | 0 | 24,100 | 22,000 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 23,100 | 23,000 | 23,200 | 0 | 20,800 | 19,300 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 23,300 | 23,200 | 23,400 | – 400 | 22,800 | 20,200 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 24,550 | 24,500 | 24,600 | – 50 | 23,000 | 20,300 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 22,700 | 22,600 | 22,800 | + 200 | 20,100 | 18,500 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 22,800 | 22,700 | 22,900 | + 100 | 20,600 | 19,000 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 37,550 | 37,500 | 37,600 | – 950 | 36,900 | 33,800 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 36,000 | 35,900 | 36,100 | – 500 | 34,600 | 31,600 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 34,400 | 34,300 | 34,500 | – 200 | 32,900 | 30,050 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 34,600 | 34,500 | 34,700 | – 800 | 33,500 | 30,600 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 35,600 | 35,500 | 35,700 | – 700 | 34,400 | 32,200 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 36,800 | 36,700 | 37,000 | + 300 | 35,000 | 33,900 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 36,200 | 36,100 | 36,300 | – 500 | 34,200 | 33,000 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 38,100 | 38,000 | 38,200 | – 900 | 37,300 | 34,300 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 36,500 | 36,400 | 36,600 | – 500 | 35,100 | 32,200 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 35,400 | 35,300 | 35,500 | – 200 | 33,600 | 30,850 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 35,600 | 35,500 | 35,700 | – 700 | 34,300 | 31,400 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 35,850 | 35,800 | 35,900 | – 700 | 34,700 | 32,500 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 37,300 | 37,200 | 37,500 | + 300 | 35,500 | 34,400 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 36,500 | 36,400 | 36,600 | – 500 | 34,500 | 33,300 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 41,400 | 41,200 | 41,600 | – 300 | 39,400 | 36,700 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 40,500 | 40,300 | 40,700 | – 300 | 38,200 | 35,600 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 39,400 | 39,300 | 39,600 | 0 | 37,600 | 34,400 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 40,100 | 39,700 | 40,200 | + 200 | 37,900 | 36,000 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 41,200 | 41,000 | 41,400 | + 200 | 39,800 | 38,900 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 40,000 | 39,800 | 40,200 | – 500 | 38,000 | 37,500 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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