Indian Billet prices today rise marginally by INR 100-300/MT, however the trade volume was thin as per market participants. Meanwhile the Sponge iron prices remained on down trend amid improved supply and as per assessment the price fall by INR 100-200/MT day-on-day.
The industry participants in Central & Eastern India are assuming, Semis prices are less likely to increase sharply as demand for finished products is limited, which in turn poor off take in Billet & Sponge iron.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 34,900-38,000/MT (USD 480-523) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 23,100-25,600/MT (USD 317-352); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 25th September 2018 (Tuesday) INR to USD exchange rate stood at INR 72.70
— BSE Sensex closed at 36,652(+347) on Tuesday, as against last day (Monday) at 36,305(-536).
Raw Materials
— IDCOL has issued three different tenders for tentative sale of 36,400 MT iron ore from its Roida ‘C’ iron and manganese mines, Keonjhar (Odisha). The due date for bid submission is 1st Oct’18.
— Melting scrap offers in Western India- Gujarat rise by INR 500/MT in a day trade activities.
— Power cut by DVC in Industrial of Durgapur near about 30% , as per local Ingot/Billet manufacturers.
Semi Finished
— As per SteelMint’s weekly assessment, Indian sponge iron export offers to Bangladesh fall by about USD 10/MT. The latest export offers for Sponge iron lumps, FeM 78-80 stood at around USD 380-385/MT CFR Chittagong, Bangladesh.
— Raipur, Central India based Integrated plants offer decreased by INR 100/MT, offering Sponge P-DRI at INR 23,800-24,000/MT & Sponge DR CLO grade at INR 26,400-26,600/MT ex-plant.
— Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 24,700/MT & Billet at INR 34,700/MT ex-plant.
— Govindam Sponge, an Odisha based plant offered FeM 80 sponge mix material at INR 24,600-24,700/MT & 100% lumps at INR 24,900/MT ex-plant.
— Odisha based KJS Ahluwalia offered Billet at INR 34,700/MT & FeM 80 Sponge C-DRI mix material at INR 24,500/MT ex-plant.
— BIOP Steels in South India has decreased sponge prices by around INR 200/MT, offering FeM 80 & 82 C-DRI lumps at INR 24,300/MT & INR 24,800/MT ex-plant, Karnataka; an official reported.
— Hare Krishna, a 300 TPD sponge manufacturer in Bellary, Karnataka has offered FeM 80 P-DRI at around INR 23,400-23,600/MT ex-plant, an official reported.
— A day before, Apple Industries in Bellary (Karnataka) sold good quantity of Sponge FeM 83+ P-DRI at INR 24,400/MT (ex-plant) & today’s offer for Billet reported at INR 36,500/MT ex-plant.
Finish Long
— Vizag Steel (RINL) has marginally increased prices in rebar & rounds by INR 200/MT and wire rod by INR 250-300/MT (USD 3-4) for rest of Sep’18. The revised prices will be applicable from today (25th Sep’18).
— East region, Durgapur based medium mills offering Wire rod export offers to Nepal at around USD 575/MT, ex-mill for 5.5mm.
— The suppliers in Raipur kept trade discount more or less unchanged on wire rod and today’s discount at INR 800-1,200/MT.
— Rathi Steels in North region increased their offers by INR 350/MT on day basis and current reported at INR 41,600/MT, size – 12 mm & excluding 18% GST.
— Central region, Raipur based brand – SPEED TMT increased their prices by INR 100/MT on day basis and current offering at INR 36,900/MT (28 mm), ex-work & excluding GST.
— Jalna based rebar manufacturer – SRJ Peety Steels Pvt Ltd branding Shree Om TMT increased their (28 mm) rebar prices by around INR 600/MT to INR 37,600/MT, ex-work & excluding GST.
— Gujarat based Akshar TMT has unchanged their price on day basis and current offering basic rebar at INR 47,600/MT FoR & including GST at 18%, Size – 20 mm.
— Gujarat based Shreeyam Power & Steel Industries Ltd branding as National TMT increased their prices by INR 300/MT on day basis and current offering rebar at INR 47,800/MT FoR & including GST at 18%, Size – 20 mm.
— Jalna based rebar manufacturer Bhagyalaxmi Rolling Mill Pvt Ltd branding as Polaad tmt increase their prices by INR 200/MT on day basis and offering basic rebar at INR 37,400/MT, ex-work & excluding GST.
— Kalika Steel Alloys in Jalna slight increased their prices and current offering 28mm rebars at INR 37,200/MT ex-plant & excluding GST.
— South India – Chennai based ARS Trusteel unchanged their prices on day basis & current offering Rebar 12 MM at INR 44,600/MT, ex-plant & excluding GST.
Reference prices as on 25th September 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Mumbai | HMS(80:20) | 28,000 | 27,700 | 28,000 | 0 | 27,600 | 25,800 |
| Ex-Chennai | HMS(80:20) | 27,300 | 27,200 | 27,500 | 0 | 26,200 | 24,300 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 23,100 | 23,000 | 23,200 | – 200 | 24,300 | 24,800 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 24,600 | 24,500 | 24,700 | 0 | 25,300 | 24,500 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 25,600 | 25,500 | 25,700 | – 100 | 26,300 | 25,600 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 24,000 | 24,000 | 24,200 | – 100 | 24,200 | 23,100 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 21,800 | 21,700 | 21,900 | – 100 | 23,100 | 23,700 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 23,900 | 23,800 | 24,000 | – 100 | 24,900 | 24,600 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 23,400 | 23,300 | 23,500 | – 100 | 23,700 | 22,500 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 24,100 | 24,000 | 24,200 | 0 | 24,300 | 22,700 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 37,200 | 37,100 | 37,300 | + 50 | 37,800 | 38,500 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 35,000 | 34,900 | 35,100 | 0 | 36,000 | 36,500 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 34,100 | 34,000 | 34,200 | + 300 | 34,900 | 34,600 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 34,550 | 34,500 | 34,600 | + 150 | 34,900 | 35,400 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 36,300 | 36,200 | 36,300 | + 300 | 36,400 | 36,300 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 37,500 | 37,400 | 37,600 | 0 | 37,800 | 36,500 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 37,000 | 36,800 | 37,200 | + 300 | 37,300 | 36,700 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 37,800 | 37,700 | 37,900 | + 50 | 38,300 | 39,000 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 35,500 | 35,400 | 35,600 | 0 | 36,500 | 37,000 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 34,900 | 34,800 | 35,000 | + 200 | 35,800 | 35,600 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 35,500 | 35,400 | 35,600 | + 100 | 35,900 | 36,300 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 36,550 | 36,500 | 36,600 | + 250 | 36,600 | 36,550 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 38,000 | 37,900 | 38,100 | 0 | 38,300 | 37,000 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 37,300 | 37,000 | 37,500 | + 300 | 37,500 | 37,000 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 40,400 | 40,200 | 40,500 | + 400 | 41,000 | 41,700 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 40,100 | 39,900 | 40,300 | 0 | 40,800 | 40,800 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 39,000 | 38,800 | 39,100 | + 100 | 39,300 | 39,400 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 40,400 | 40,000 | 40,500 | + 300 | 40,900 | 39,900 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 42,700 | 42,500 | 42,900 | + 100 | 42,400 | 41,000 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 40,700 | 40,500 | 40,900 | + 200 | 41,000 | 40,500 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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