Indian Billet prices fall further in Central, East & Northern regions by INR 200-500/MT (USD 3-7) due to falling spot trades. However in Western India – Maharashtra & Gujarat the prices inch up by INR 100-300/MT on day trade activities.
The Sponge iron prices also slightly decline by INR 100/MT day-on-day in Central & Eastern India. As per participants, the major sponge iron producers are aggressive to sale material owing to rising inventories.
SteelMint’s latest price assessment for induction furnaces Billet in Indian market stood at INR 35,100-38,000/MT (USD 487-528) ex-plant. Further, the coal based Sponge (78-80 FeM) C-DRI price assessment was at INR 24,100-26,200/MT (USD 334-364); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 20th September 2018 (Thursday) INR to USD exchange rate stood at INR 71.92
— BSE Sensex closed today (Thursday) on account of Muharram, last day (Wednesday) it was closed at 37,121(-169).
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 149-150/MT, FoB India- Sources.
— Imported scrap offers to India for HMS 1&2 (80:20) Dubai origin containers stood at around USD 350/MT, CFR Nhava Sheva, Offers rise by USD 3-4/MT W-o-W
Semi Finished
— The latest price assessment for Steel grade Pig iron stood at INR 31,000-31,200/MT ex-Durgapur (West Bengal), INR 30,800-31,200/MT ex-Jharkhand & INR 31,400-31,600/MT ex-Raipur. The prices are excluding 18% GST.
— SteelMint’s Pig iron export price assessment stood at USD 380-390/MT FoB India and USD 370-375/MT FoB Black sea
— Raipur, Central India based Integrated plants offers down by INR 100-200/MT, offering Sponge P-DRI at INR 24,600-24,700/MT & Sponge DR CLO grade at INR 27,000-27,200/MT ex-plant.
— Sponge iron prices in Durgapur more or less firm today as power supply resumes in the Industrials of Bengal by DVC
— Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 25,000/MT & Billet at INR 35,500/MT ex-plant.
— BMM Ispat, a renowned sponge manufacturer 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 & 25,500/MT ex-plant, Karnataka; an official reported.
— South India based Amoda iron & steel ltd is offering FeM 75 & 80 C-DRI lump at INR 23,500/MT & INR 25200/MT ex-plant (Hyderabad).
— South India (Telangana) based Cauvery Iron & Steel offers FeM 80 P-DRI & Billet at INR 24,000/MT & INR 37,000/MT. Also offering 28 MM Rebar at INR 38,000/MT. All prices are ex-plant & excluding GST.
Finish Long
— RINL (Vizag Steel), latest wire rod offers at around INR 45,000/MT (ex-Vizag, size-5.5mm, SAE 1008, 18% GST extra) as per sources. Discount extra.
— The suppliers in Raipur kept trade discount unchanged on wire rod and today’s discount at INR 1,000-1,200/MT.
— Wire rod export offers to Nepal through the medium mills in Durgapur, Eastern India reported at around USD 580/MT ex-mill.
Reference prices as on 20th September 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Mumbai | HMS(80:20) | 27,500 | 27,400 | 27,600 | 0 | NA | 25,600 |
| Ex-Chennai | HMS(80:20) | 26,500 | 26,400 | 26,700 | + 300 | NA | 23,800 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 23,850 | 23,800 | 23,900 | – 50 | 24,700 | 24,200 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 25,000 | 24,900 | 25,100 | – 100 | 25,100 | 23,100 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 26,200 | 26,100 | 26,300 | 0 | 26,400 | 24,400 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 24,100 | 24,000 | 24,200 | 0 | 24,200 | 21,100 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 22,500 | 22,400 | 22,600 | – 100 | 23,700 | 23,200 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 24,700 | 24,600 | 24,800 | 0 | 25,000 | 23,600 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 23,600 | 23,600 | 23,700 | 0 | 23,700 | 20,400 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 24,300 | 24,200 | 24,400 | + 100 | 24,200 | 20,700 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 37,500 | 37,400 | 37,600 | – 500 | 38,000 | 37,200 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 35,900 | 35,800 | 35,900 | – 200 | 36,300 | 34,700 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 34,400 | 34,300 | 34,500 | – 200 | 34,800 | 33,200 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 34,700 | 34,700 | 34,800 | – 300 | 35,100 | 34,000 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 36,600 | 36,500 | 36,700 | + 200 | NA | 34,600 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 37,700 | 37,600 | 37,800 | + 200 | NA | 35,000 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 36,700 | 36,600 | 36,800 | 0 | NA | 34,700 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 38,000 | 37,900 | 38,100 | – 500 | 38,500 | 37,600 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 36,400 | 36,300 | 36,500 | – 200 | 36,800 | 35,200 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 35,400 | 35,300 | 35,500 | – 300 | 35,800 | 34,000 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 35,700 | 35,600 | 35,800 | – 300 | 36,100 | 35,000 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 36,950 | 36,900 | 37,000 | + 250 | NA | 34,900 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 38,200 | 38,100 | 38,300 | + 200 | NA | 35,500 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 37,000 | 36,900 | 37,100 | 0 | NA | 35,000 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 40,700 | 40,500 | 40,900 | 0 | 40,000 | 39,800 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 40,500 | 40,300 | 40,700 | – 300 | 41,000 | 38,500 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 39,200 | 39,100 | 39,400 | + 300 | 39,000 | 38,300 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 40,700 | 40,300 | 40,800 | 0 | 40,800 | 38,400 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 42,500 | 42,400 | 42,700 | + 200 | NA | 39,900 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 40,500 | 40,300 | 40,600 | 0 | NA | 38,500 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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