Indian Billet & Sponge prices have fall sharply on day trade activities by INR 200-500/MT (USD 3-7) and majorly in Central, East & Western regions. However in South India the producers have maintained offers.
As per participants, the spot trades was limited, which in turn sharp fall in prices.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 35,400-38,300/MT (USD 486-526) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 24,200-26,300/MT (USD 332-361); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 18th September 2018 (Tuesday) INR to USD exchange rate stood at INR 72.80
— BSE Sensex closed at 37,290(-294) on Tuesday, as against last day (Monday) at 37,585.51.
Raw Materials
— Imported scrap offers to India for HMS 1&2 (80:20) Dubai origin containers stood at around USD 347/MT, CFR Nhava Sheva.
— According to the latest assessment of Coking coal, spot prices of the Premium HCC, Australia have increased by around USD 4/MT W-o-W & assessed at USD 220-221/MT CNF India.
— Local manufacturers in Raigarh have offer 60-14 Silico Manganese at around INR 69,500/MT ex-plant.
Semi Finished
— RINL has invited a tender for export of 10,000 MT Billets, 25,000 MT Blooms and 5,000 MT Wire Rod. Interested bidders can submit their bids till 25 Sep’18 at 11:00 hrs.
— Indian sponge iron export offers to Bangladesh for lumps of grade FeM 78-80, stood at USD 370-375/MT CPT Benapole (dry land port of Bangladesh & India) and USD 390-395/MT CFR Chittagong, Bangladesh.
— RSP (Rourkela Steel Plant) tender held today (18th Sep’18) to sell about 9,100 MT steel grade pig iron & had received mix response. The base price for the tender was quoted by RSP at INR 30,660/MT, however the auction were settled at INR 31,000/MT, ex-plant.
— Raipur, Central India based Integrated plants offers decreased by INR 200-300/MT, offering Sponge P-DRI at INR 24,900-25,000/MT & Sponge DR CLO grade at INR 27,100-27,300/MT ex-plant.
— Raigarh based Singhal Steel offered P-DRI at INR 24,500/MT ex-plant, Raipur & Billets at INR 36,000/MT FoR Raipur, an official reported.
— Odisha based manufacturer, Ganesh Metaliks offered Billet at INR 36,000/MT ex-plant, an official reported.
— BMM Ispat a price trend setter in South Indian sponge market has kept offers unaltered and offered FeM 80 P-DRI lumps at INR 23,700-23,800/MT, ex-Bellary, Karnataka.
— BIOP Steels in South India has offered FeM 80 & 82 C-DRI lumps at INR 25,000/MT & INR 25,600/MT ex-plant, Karnataka; an official reported.
— Apple Industries in Bellary (Karnataka) offered Sponge FeM 83+ P-DRI lump at INR 24,700/MT & Billet at INR 37,100-37,200/MT ex-plant.
Finish Long
— Central region, Raipur based brand – SPEED TMT decreased their prices by INR 200/MT on day basis and current offering at INR 37,200/MT (28 mm), ex-work & excluding GST.
— Jalna based rebar manufacturer – SRJ Peety Steels Pvt Ltd branding Shree Om TMT decreased their rebar prices by around INR 400/MT to INR 37,300/MT(28 mm), ex-work & excluding GST.
— Gujarat based Shreeyam Power & Steel Industries Ltd branding as National TMT current offering rebar at INR 48,500/MT (20 mm) FoR & including GST at 18% and Sponge P-DRI – INR 25,600/MT.
— Central region (Raigarh) based Anjani Steels Limited branding Radhe TMT currently offer rebar at INR 37,500/MT (28 mm), ex-work & excluding GST.
— East region based – Baba Smelter Pvt. Ltd has unchanged their prices on day basis & current offering Structure (125/150) Channel at INR 42,250/MT, ex-work & excluding GST.
— North region – U.P based – K.L Steel Pvt Ltd decreased their Structure prices by INR 200-300/MT on day basis and Heavy Structure at INR 43,700/MT (ISMB – 250), ex-work & excluding GST.
Reference prices as on 18th September 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Mumbai | HMS(80:20) | 27,600 | 27,600 | 27,800 | + 200 | 26,800 | 25,400 |
| Ex-Chennai | HMS(80:20) | 26,200 | 26,100 | 26,300 | + 200 | 25,600 | 23,800 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 24,300 | 24,200 | 24,400 | – 500 | 24,800 | 24,000 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 25,300 | 25,200 | 35,300 | – 200 | 24,900 | 22,500 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 26,300 | 26,200 | 26,400 | – 400 | 26,200 | 24,000 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 24,200 | 24,100 | 24,300 | + 100 | 24,100 | 20,800 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 23,100 | 23,000 | 23,200 | – 600 | 23,800 | 22,800 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 24,900 | 24,800 | 25,000 | – 300 | 24,800 | 22,800 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 23,700 | 23,600 | 23,800 | 0 | 23,700 | 20,100 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 24,300 | 24,200 | 24,500 | + 100 | 24,100 | 20,600 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 37,800 | 37,700 | 37,900 | – 300 | 37,500 | 36,200 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 36,000 | 35,900 | 36,100 | – 400 | 36,300 | 34,200 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 34,900 | 34,800 | 35,000 | – 100 | 34,700 | 32,500 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 34,900 | 34,800 | 35,000 | – 400 | 34,400 | 32,900 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 36,400 | 36,300 | 36,500 | – 400 | 36,000 | 34,000 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 37,800 | 37,800 | 38,000 | 0 | 37,000 | 35,200 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 37,300 | 37,200 | 37,400 | 0 | 36,700 | 34,200 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 38,300 | 38,200 | 38,400 | – 300 | 37,900 | 36,700 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 36,500 | 36,400 | 36,600 | – 400 | 36,800 | 34,800 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 35,800 | 35,700 | 36,000 | – 200 | 35,600 | 33,400 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 35,900 | 35,800 | 36,000 | – 500 | 35,400 | 33,600 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 36,600 | 36,500 | 36,700 | – 500 | 36,500 | 34,250 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 38,300 | 38,300 | 38,500 | 0 | 37,500 | 35,700 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 37,500 | 37,400 | 37,600 | 0 | 37,000 | 34,500 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 41,000 | 40,800 | 41,200 | 0 | 40,300 | 39,400 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 40,800 | 40,600 | 41,000 | – 300 | 41,000 | 38,200 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 39,300 | 39,100 | 39,400 | – 200 | 38,800 | 37,300 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 40,900 | 40,500 | 41,000 | – 500 | 40,800 | 38,100 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 42,400 | 42,200 | 42,600 | – 200 | 42,000 | 39,900 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 41,000 | 40,800 | 41,200 | 0 | 40,500 | 38,000 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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