Indian Semis prices remain on down trend owing to mismatch supply-demand as supply healthier while demand continue to remain weak due to poor off take in finished steel products.
As per daily assessment the prices of Billet & Sponge iron have fall by INR 100-400/MT in Central & East regions.
The private Pig iron producers in domestic market being reduced prices on limited inquiries. In latest assessment, steel grade Pig iron prices in North & East regions have declined by INR 300-500/MT.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 34,700-38,000/MT (USD 477-523) ex-plant. Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 23,300-25,700/MT (USD 320-354); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 24th September 2018 (Monday) INR to USD exchange rate stood at INR 72.69
— BSE Sensex closed at 36,305(-536) on Monday, as against last day (Friday) at 36,841(-279).
Raw Materials
— Rashtriya Ispat Nigam Limited – public sector enterprise has resumed iron ore purchases from Karnataka e-auctions after a gap of 1 month
— Imported scrap offers to India for HMS 1&2 (80:20) Dubai origin containers stood at around USD 350/MT, CFR Nhava Sheva
Semi Finished
— Atibir Industries in Jharkhand has reduced Steel grade Pig iron prices by INR 500/MT to INR 31,000/MT ex-plant. The company is offering discount of up to INR 500/MT on bulk bookings.
— The private pig iron producers in East India reported dull demand and reduced prices by upto INR 500/MT (USD 7). The latest offers for Steel grade hovering at INR 30,500-31,000/MT ex-Durgapur & INR 30,300-30,500/MT Ex-Jharkhand.
— Raipur, Central India based Integrated plants have reduced sponge prices by INR 400/MT day-on-day and offering Sponge P-DRI at INR 23,900-24,000/MT ex-plant.
— According to sources in Durgapur, Rashmi Metaliks has reduced offers by INR 200/MT to INR 22,000/MT for FeM 78 P-DRI.
— 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.
— BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 23,600-23,700/MT ex-Bellary, Karnataka
— South India based Amoda iron & steel ltd is offering FeM 75 & 80 C-DRI lump at INR 23,500/MT & INR 24,800/MT ex-plant (Hyderabad).
— ILC Iron & Steel, a prime grade sponge maker in Karnataka offered FeM 80 C-DRI lumps at INR 24,700/MT ex-plant, an official reported.
— 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
— The suppliers in Raipur kept trade discount more or less unchanged on wire rod and today’s discount at INR 800-1,200/MT
— Central India -GK TMT kept offers unchanged on d-o-d basis and today’s offering at INR 41,000/MT (10-25 mm), ex-Raipur & GST extra.
— Tulsyan NEC Steel (Tulsyan) based in Chennai offered 12mm rebars at INR 43,500/MT, ex-plant & excluding GST.
— Central region, Raipur based brand – SPEED TMT unchanged their prices on day basis and current offering at INR 39,000/MT (12-25 mm), ex-work & excluding GST.
— Jalna based rebar manufacturer – SRJ Peety Steels Pvt Ltd branding Shree Om TMT decreased their (28 mm) rebar prices by around INR 400/MT to INR 37,000/MT, ex-work & excluding GST.
— South region Based – VRKP Steel Industry Pvt Ltd – VRKP tmt offering rebars at INR 50,500/MT (8 mm), ex-work & including GST.
— West region based – Vistar tmt current offering rebar at INR 37,000/MT (28 mm), ex-work & excluding GST.
— Gujarat based Diamond TMT is hovering at INR 47,500/MT (20 mm) FoR & including GST at 18%.
— South region – Chennai based manufacturer shared Structure – 40 Angle at INR 42,600/MT on routine payment terms, ex-work & excluding GST.
— Rathi Steels in North region unchanged their offers on day basis and current reported at INR 41,250/MT(12 mm), excluding GST.
— SAIL hike in rebar prices by INR 500/MT.
— Central India -GK TMT, kept offers unchanged on d-o-d basis and today’s offering at INR 41,000/MT (10-25 mm), ex-Raipur & GST extra.
— The suppliers in Raipur kept trade discount more or less unchanged on wire rod and today’s discount at INR 800-1,200/MT
Reference prices as on 24th September 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Mumbai | HMS(80:20) | 28,000 | 27,900 | 28,100 | 0 | 27,400 | 25,750 |
| Ex-Chennai | HMS(80:20) | 27,300 | 27,200 | 27,500 | + 300 | 26,000 | 24,250 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 23,300 | 23,200 | 23,400 | – 200 | 24,800 | 24,800 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 24,600 | 24,500 | 24,700 | – 200 | 25,500 | 24,400 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 25,700 | 25,600 | 25,800 | – 200 | 26,700 | 25,500 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 24,100 | 24,000 | 24,200 | – 100 | 24,100 | 22,400 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 21,900 | 21,800 | 22,000 | – 300 | 23,700 | 23,700 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 24,000 | 23,900 | 24,100 | – 400 | 25,200 | 24,600 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 23,500 | 23,400 | 23,600 | – 200 | 23,700 | 22,000 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 24,100 | 24,000 | 24,200 | – 100 | 24,200 | 22,200 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 37,150 | 37,100 | 37,200 | + 150 | 38,100 | 38,500 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 35,000 | 34,900 | 35,100 | – 400 | 36,400 | 36,400 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 33,800 | 33,700 | 33,900 | – 200 | 35,000 | 34,600 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 34,400 | 34,300 | 34,500 | – 100 | 35,300 | 35,400 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 36,000 | 35,900 | 36,100 | – 100 | 36,800 | 35,700 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 37,500 | 37,500 | 37,700 | – 150 | 37,800 | 36,300 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 36,700 | 36,600 | 36,800 | + 500 | 37,300 | 36,200 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 37,750 | 37,700 | 37,800 | + 150 | 38,600 | 39,000 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 35,500 | 35,400 | 35,600 | – 400 | 36,900 | 36,900 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 34,700 | 34,600 | 34,800 | – 300 | 36,000 | 35,500 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 35,400 | 35,300 | 35,500 | 0 | 36,400 | 36,400 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 36,300 | 36,200 | 36,400 | – 100 | 37,100 | 36,000 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 38,000 | 38,000 | 38,200 | – 150 | 38,300 | 36,800 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 37,000 | 36,900 | 37,100 | + 500 | 37,500 | 36,500 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 40,000 | 39,800 | 40,200 | – 200 | 41,000 | 41,200 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 40,100 | 39,900 | 40,300 | – 200 | 41,100 | 40,500 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 38,900 | 38,700 | 39,000 | 0 | 39,500 | 39,000 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 40,100 | 39,700 | 40,200 | – 200 | 41,400 | 39,300 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 42,600 | 42,400 | 42,700 | 0 | 42,600 | 40,600 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 40,500 | 40,300 | 40,700 | + 500 | 41,000 | 40,000 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
Leave a Reply