The price fall continuous in Indian Semis market owing to weak demand & strong supply, leads to stockpiling.
As per assessment, the Billet prices fall by INR 200-1,000/MT & majorly in South India – Hyderabad by INR 1,000/MT, while in remaining markets it declined about INR 200-500/MT.
Sponge iron prices being sharply fall by INR 500-800/MT and highly in Central region by INR 600-800/MT.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 34,100-37,800/MT (USD 469-521) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 22,400-24,900/MT (USD 308-343); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 27th September 2018 (Thursday) INR to USD exchange rate stood at INR 72.62
— BSE Sensex closed at 36,324(-218) on Thursday, as against last day (Wednesday) at 36,542(-109).
Raw Materials
— Indian pellet export trades has witnessed decline this week amidst approaching Chinese Golden Week holidays from 1st Oct to 7th Oct. The Indian pellet export price assessment is at around USD 149-150/MT, CFR China levels for 3% alumina and around USD 152-153/MT, CFR China for 2.5% alumina.
— Coking coal prices plunge to USD 196/MT FoB Australia on less Chinese buying interest.
Semi Finished
— As per participants, induction grade billet export offers to Nepal at around USD 475-480/MT loaded to rake, Odisha. And added trade activities are weak at these offers.
— The latest price assessment for Steel grade Pig iron stood at INR 31,400-31,600/MT ex-Raipur (Central India) & INR 30,300-30,700/MT ex-Durgapur (East region). Offers decline by INR 200/MT in recent trades.
— Raipur, Central India based a integrated plants has decreased offers by INR 600-800/MT day-on-day and offering Sponge P-DRI at INR 23,000-23,100/MT ex-plant.
— Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 24,000/MT & Billet at INR 34,000/MT ex-plant.
— Govindam Sponge, an Odisha based plant offered FeM 80 sponge mix material at INR 23,900/MT & lumps at INR 24,200/MT ex-plant.
— BIOP Steels in South India has kept offers unaltered; offering FeM 80 & 82 C-DRI lumps at INR 24,300/MT & 24,800/MT ex-plant, Karnataka; an official reported.
— Hyderabad, South India based steel manufacturers reduced their Billet offer by INR 1,000/MT to INR 36,000/MT, Also offering FeM 80 P-DRI & 28 MM Rebar at around INR 24,000/MT & INR 37,000-37,500/MT. prices are ex-plant & excluding GST.
— SteelMint’s Pig iron export price assessment stood at USD 380-390/MT FoB India and USD 365-370/MT FoB Black sea.
Finish Long
— Raipur Power and Steel Ltd offering Silico Manganese at INR 71,500/MT & Pellet at 9,000/MT, Wire Rod (5.5 MM) at INR 41,100/MT ex-mill & excluding GST. Discount offered in HB at INR 800/MT.
— Central India – SAIL is offering Wire Rod MS grade 5.5-6 mm at around INR 43,500-44,000/MT ex-Bhilai, GST extra.
— The suppliers in Raipur kept trade discount almost same on wire rod and today’s discount at INR 900-1,300/MT.
— East India based Wire rod manufacturer – Adhunik Alloys & Pvt Ltd has unchanged their prices on day basis & presently offering Wire Rod 5.5 mm at INR 41,000/MT & TMT at INR 39,000/MT, ex-mill & excluding GST.
— North region, U.P based – Gallant Ispat Ltd. has slightly decrease their prices by INR 200/MT on day basis and current offering rebars at INR 38,000/MT, Size- 12-25 mm, ex-work & excluding GST.
— Jalna based rebar manufacturer Rajuri Steel Pvt Ltd unchanged their prices on day basis and offering basic rebar (28 mm) at INR 37,400/MT, ex-work & excluding GST.
— Rathi Steels in North region decreased their offering by around INR 700/MT on day basis and current reported at INR 40,500/MT, size – 12 mm & excluding 18% GST.
— Central region, Raipur based brand – SPEED TMT decrease their prices by INR 400/MT on day basis and current offering at INR 36,500/MT (28 mm), ex-work & excluding GST.
— Gujarat based Akshar TMT has slightly decrease their price by INR 200/MT on day basis and current offering basic rebar at INR 47,400/MT FoR & including GST at 18%, Size – 20 mm.
— Sangam TMT based in Wardha – Maharashtra slightly lessen their price range by INR 300/MT on day basis and current offering 28 mm rebars at INR 36,700/MT ex-plant & excluding 18% GST.
Reference prices as on 27th September 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 27,300 | 27,200 | 27,400 | – 300 | 28,300 | 27,100 |
| Ex-Mumbai | HMS(80:20) | 27,900 | 27,700 | 28,000 | 0 | 27,500 | 25,900 | |
| Ex-Chennai | HMS(80:20) | 27,400 | 27,200 | 27,600 | + 100 | 26,500 | 24,900 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 22,400 | 22,300 | 22,500 | – 500 | 23,850 | 24,450 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 23,750 | 23,600 | 23,900 | – 550 | 25,000 | 24,500 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 24,900 | 24,800 | 25,000 | – 500 | 26,200 | 25,700 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 23,900 | 23,800 | 24,000 | – 100 | 24,100 | 23,200 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 21,000 | 20,900 | 21,100 | – 500 | 22,500 | 23,350 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 23,000 | 22,900 | 23,100 | – 800 | 24,700 | 24,600 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 23,300 | 23,200 | 23,400 | – 100 | 23,600 | 22,800 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 24,000 | 23,900 | 24,100 | 0 | 24,300 | 23,000 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 36,400 | 36,300 | 36,500 | – 100 | 37,500 | 37,800 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 34,100 | 34,000 | 34,200 | – 500 | 35,900 | 36,300 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 33,400 | 33,400 | 33,500 | – 300 | 34,400 | 34,600 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 33,750 | 33,700 | 33,800 | – 250 | 34,700 | 35,050 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 35,900 | 35,800 | 36,000 | – 300 | 36,600 | 35,850 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 37,300 | 37,200 | 37,400 | 0 | 37,700 | 36,500 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 35,700 | 35,600 | 35,800 | – 1,000 | 36,700 | 36,200 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 37,100 | 37,000 | 37,200 | – 100 | 38,000 | 38,600 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 34,600 | 34,500 | 34,700 | – 500 | 36,400 | 36,800 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 34,200 | 34,000 | 34,200 | – 400 | 35,400 | 35,500 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 34,700 | 34,600 | 34,800 | – 300 | 35,700 | 36,000 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 36,200 | 36,100 | 36,300 | – 250 | 36,950 | 36,100 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 37,800 | 37,700 | 37,900 | 0 | 38,200 | 37,000 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 36,000 | 35,900 | 36,100 | – 1,000 | 37,000 | 36,500 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 39,500 | 39,300 | 39,500 | – 500 | 40,700 | 40,900 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 39,300 | 39,100 | 39,500 | – 500 | 40,500 | 40,800 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 38,600 | 38,500 | 38,700 | – 300 | 39,200 | 39,100 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 40,400 | 40,000 | 40,500 | 0 | 40,700 | 40,100 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 42,300 | 42,300 | 42,500 | – 200 | 42,500 | 41,400 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 39,700 | 39,500 | 39,900 | – 800 | 40,500 | 40,000 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
Leave a Reply