Indian Steel prices have increased sharply on day trade activities on improved demand in the domestic market. As per assessment the Billet prices have rise up to INR 1,000/MT (USD 14) & majorly in South & West India by INR 800-1,000/MT followed by Central region INR 400-500/MT.
The Sponge iron producers being raised prices on active demand and the prices rally about INR 100-300/MT day-on-day. As per participants, Sponge iron supply has improved as the weather clear in major parts of country.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 35,900-38,800/MT (USD 500-540) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 24,200-26,700/MT (USD 337-372); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 14th September 2018 (Friday) INR to USD exchange rate stood at INR 71.83
— BSE Sensex closed at 38,090(+372)on Friday, as against last day (Wednesday) at 37,717(+304).
Raw Materials
— Bhushan Power & Steel – a major integrated steel maker has recorded an iron ore sourcing at 0.36 MnT in Aug’18, surge by 80% as against 0.20 MnT in July’18.
— JSW Steel’s iron ore purchases from Karnataka e-auctions increased sharply by 61% M-o-M to 1.21 MnT in Aug’18 compared to 0.75 MnT in Jul’18.
— According to the latest assessment of Coking coal, spot prices of the Premium HCC, Australia have increased by around USD 6-7/MT W-o-W & assessed at USD 223.9/MT CNF India
— Imported scrap offers to India for HMS 1&2 (80:20) Dubai origin containers stood at around USD 345/MT, CFR Nhava Sheva
— Gujarat based a billet manufacturer has booked containerized HMS – 1 at USD 350/MT, 20 MT +/- loading from Middle East (Dubai) & arrival period would be approximate after couple of weeks.
Semi Finished
— Raipur, Central India based Integrated plants offers increased by INR 200/MT, offering Sponge P-DRI at INR 25,100-25,300/MT & Sponge DR CLO grade at INR 27,500-27,700/MT ex-plant.
— Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 25,300-25,400/MT & Billet at INR 36,000/MT ex-plant.
— Rashmi Metaliks in Durgapur has increased sponge prices by around INR 300-400/MT & offered P-DRI at INR 23,800-23,900/MT & C-DRI at INR 25,000/MT, as per sources.
— Few Raipur based smelters purchased Sponge P-DRI from Odisha & Raigarh at INR 25,200/MT FoR Raipur.
— BMM Ispat a price trend setter in South Indian sponge market has kept offers unaltered today and offered FeM 80 P-DRI lumps at INR 23,700/MT ex-Bellary, Karnataka.
— BIOP Steels in South India has offered FeM 80 & 82 C-DRI lumps at INR 24,500/MT & 25,000/MT ex-plant, Karnataka; an official reported.
— Apple Industries in Bellary (Karnataka) offered Sponge FeM 83+ P-DRI lump at INR 24,800/MT & Billet at INR 37,000/MT ex-plant.
Finish Long
— Central region, Raipur based brand – SPEED TMT increased their prices by INR 400/MT on day basis and current offering at INR 37,400/MT (28 mm), ex-work & excluding GST.
— Jalna based rebar manufacturer – SRJ Peety Steels Pvt Ltd branding Shree Om TMT increased their rebar prices by around INR 300/MT to INR 37,700/MT (28 mm), ex-work & excluding GST.
— Rathi Steels in North region offering 12 mm rebar at INR 42,000/MT, excluding 18% GST.
— South India – Chennai based ARS Trusteel unchanged their prices on day basis & current offering 12 mm rebar at INR 43,800/MT, ex-plant & excluding GST.
— Gujarat based Shreeyam Power & Steel Industries Ltd branding as National TMT current offering 20 mm rebar at INR 48,200/MT FoR & including GST at 18%.
— Central region (Raigarh) based Anjani Steels Limited branding Radhe TMT currently offer 28 mm rebar at INR 37,500/MT, ex-work & excluding GST.
— Mumbai, Maharashtra based SRMM (Ghasiram) structure prices increased by INR 1,100/MT; on day basis and current offering 40 Angle at INR 42,800/MT, ex-work & excluding GST.
— South region – Chennai based structure manufacturer offering 40 Angle at INR 42,500/MT on routine payment terms, ex-work & excluding GST.
— Central based region – Raipur based heavy Structure manufactures are maintaining discount range of around INR 600-800/MT upon booking, as per sources.
— West region based Bhagwati Ferro Metal (P) Ltd offering 28 mm rebar at INR 38,400/MT, ex-work & excluding GST.
— The suppliers in Raipur slightly decreased trade discount on wire rod and today’s discount at INR 800-900/MT.
— Wire Rod prices in Durgapur evaluated at INR 42,700-43,000/MT (size 5.5mm, GST extra) whereas in Raipur, it is now offering at INR 41,600/MT for the same grade material.
Reference prices as on 14th September 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Mumbai | HMS(80:20) | 27,350 | 27,300 | 27,400 | NA | 26,650 | 25,200 |
| Ex-Chennai | HMS(80:20) | 25,800 | 25,800 | 26,000 | NA | 25,650 | 23,600 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 24,900 | 24,800 | 25,000 | + 200 | 25,700 | 24,100 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 25,400 | 25,300 | 25,500 | + 300 | 25,400 | 22,500 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 26,700 | 26,600 | 26,800 | + 300 | 26,700 | 24,000 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 24,200 | 24,100 | 24,300 | 0 | 24,100 | 20,700 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 23,800 | 23,700 | 23,900 | + 100 | 24,700 | 23,100 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 25,200 | 25,100 | 25,300 | + 200 | 25,300 | 22,900 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 23,700 | 23,600 | 23,800 | 0 | 23,600 | 19,800 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 24,200 | 24,100 | 24,300 | 0 | 24,000 | 20,300 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 38,300 | 38,200 | 38,400 | + 300 | 38,500 | 37,000 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 36,400 | 36,300 | 36,500 | + 100 | 37,000 | 34,200 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 35,000 | 34,900 | 35,100 | + 200 | 35,500 | 33,000 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 35,500 | 35,400 | 35,600 | + 400 | 35,950 | 33,600 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 37,400 | 37,300 | 37,500 | + 900 | 37,200 | 34,700 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 37,100 | 37,100 | 37,300 | + 100 | 37,000 | 35,500 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 37,200 | 37,100 | 37,300 | + 1,000 | 37,200 | 35,200 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 38,800 | 38,700 | 38,900 | + 300 | 39,000 | 37,500 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 36,900 | 36,800 | 37,000 | + 100 | 37,600 | 34,800 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 36,000 | 35,900 | 36,000 | + 200 | 36,500 | 33,500 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 36,500 | 36,400 | 36,600 | + 400 | 36,950 | 34,700 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 37,700 | 37,600 | 37,800 | + 800 | 37,500 | 34,900 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 37,600 | 37,600 | 37,800 | + 100 | 37,500 | 36,000 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 37,500 | 37,400 | 37,600 | + 1,000 | 37,500 | 35,500 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 40,600 | 40,500 | 40,800 | + 600 | 41,100 | 39,100 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 41,300 | 41,100 | 41,500 | + 300 | 41,300 | 38,000 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 39,400 | 39,200 | 39,600 | + 400 | 39,800 | 37,600 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 41,400 | 41,000 | 41,600 | + 600 | 41,200 | 38,600 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 42,300 | 42,100 | 42,500 | NA | 41,600 | 40,200 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 41,000 | 40,800 | 41,200 | NA | 40,800 | 38,750 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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