Indian medium/small mills steel prices remain on down trend on demand concern following healthier supply of across all products in domestic market.
As per participants, the manufacturers are willing for bulk bookings, however buyers away to take positions amid falling prices.
As per SteelMint assessment, the Billet prices drop by INR 200-900/MT (USD 3-12.5), while Sponge iron by INR 200-600/MT (USD 3-9) as against last price assessment on 1st Oct’18.
The private pig iron producers being stated dull demand, hence they have gradually cut prices. In today’s assessment, the prices of Steel grade in eastern region declined by INR 300-500/MT.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 33,000-36,800/MT (USD 450-502) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 21,900-23,900/MT (USD 298-326); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 3rd October 2018 (Wednesday) INR to USD exchange rate stood at INR 73.33
— BSE Sensex closed at 35,975(-550) on Wednesday, as against last day (Monday) at 36,526(+299).
Raw Materials
— East India, Durgapur pellet price decline by INR 200-300/MT to INR 7,900-8,000/MT (delivered) against the last week assessment at INR 8,200/MT. Raipur pellet prices being fall and currently stood at INR 8,500-8,700/MT against INR 8,800-8,900/MT at the end of last week.
— South African RB2 (5500 NAR) coal offers are assessed at USD 75/MT on FoB basis & USD 90/MT CNF India. Prices decline by USD 2/MT on weekly basis.
— Melting scrap offers in Western India- Mumbai (Maharashtra) declined by INR 700/MT in a day trade activities.
Semi Finished
— Raipur, Central India based Integrated plants offers decreased by INR 500/MT, offering Sponge P-DRI at INR 22,100-22,300/MT & Sponge DR CLO grade at INR 24,600-24,800/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.
— Raigarh based Singhal Steel offered P-DRI at INR 21,500/MT & C-DRI at INR 23,000/MT ex-Raigarh, an official reported.
— BMM Ispat in South India (Karnataka) has cut sponge prices by INR 500-600/MT & offers for FeM 80 P-DRI reported at INR 22,000/MT ex-Bellary.
— BIOP Steels in South India has decreased sponge prices & offers for FeM 80 & 82 C-DRI lumps stood at INR 23,000/MT & INR 23,600/MT, respectively, (ex-plant), Karnataka; an official reported.
— South India (Telangana) based Cauvery Iron & Steel offers FeM 80 P-DRI & Billet at INR 22,700/MT & INR 35,500/MT. Also offering 28 MM Rebar at INR 36,500/MT. All prices are ex-plant & excluding GST.
Finish Long
— Vizag Steel (RINL), has increased Finished long steel prices by INR 300-500/MT (USD 4-7) & Pig iron by INR 1,000/MT (USD 14) for Oct’18 deliveries. The revised prices are applicable from 1st Oct’18, as per sources.
— Raipur Power and Steel Ltd offering 12G HB Wire at INR 42,500/MT ex-work & excluding GST.
— The suppliers in Raipur has increased trade discount and today’s trade discount was at INR 1,300-1,500/MT.
— South region based – VRKP Steel Industry Pvt Ltd – VRKP tmt reduced their prices by INR 500/MT from last couple of days and current offering rebars at INR 49,000/MT (8 mm), ex-work & including GST.
— Rathi Steels in North region has unchanged their offers on day basis and reported at INR 40,100/MT(12 mm) & excluding GST.
— Central region, Raipur based brand – SPEED TMT reduced their prices by INR 300/MT on day basis and current offering at INR 35,300/MT (28 mm), ex-work & excluding GST.
— East region based – Baba Smelter Pvt. Ltd has reduced their Structure offers by INR 500/MT on day basis & current (125,150 Channel) offering at INR 40,750/MT, ex-work & excluding GST.
— Gujarat based Shreeyam Power & Steel Industries Ltd branding as National TMT decreased their prices by INR 400/MT on day basis and current offering rebar at INR 46,200/MT(20 mm) FoR & including GST, Sponge P-DRI at 24,500/MT and Billet at INR 34,700-800/MT, excluding GST.
— Kalika Steel Alloys in Jalna unchanged their prices d-o-d basis & current offering rebar at INR 37,000/MT(28 mm) ex-plant & excluding GST.
Reference prices as on 3rd October 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 27,000 | 26,800 | 27,000 | – 200 | 27,600 | 28,700 |
| Ex-Mumbai | HMS(80:20) | 26,300 | 26,200 | 26,400 | – 700 | 27,900 | 26,200 | |
| Ex-Chennai | HMS(80:20) | 26,500 | 26,400 | 26,600 | – 100 | 27,300 | 25,000 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 21,800 | 21,700 | 21,900 | – 200 | 22,900 | 25,000 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 22,500 | 22,400 | 22,600 | – 500 | 24,300 | 25,000 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 23,800 | 23,700 | 23,900 | – 400 | 25,400 | 26,400 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 23,000 | 22,900 | 23,100 | – 500 | 24,000 | 23,300 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 20,500 | 20,400 | 20,600 | – 300 | 21,500 | 24,000 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 22,200 | 22,100 | 22,300 | – 500 | 23,800 | 25,050 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 22,100 | 22,000 | 22,200 | – 500 | 23,400 | 22,800 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 23,000 | 22,900 | 23,100 | – 600 | 24,000 | 23,300 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 35,500 | 35,400 | 35,600 | – 700 | 36,500 | 38,250 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 33,200 | 33,100 | 33,300 | – 600 | 34,600 | 36,600 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 32,100 | 32,000 | 32,200 | – 700 | 33,700 | 35,000 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 32,600 | 32,500 | 32,700 | – 500 | 34,000 | 35,550 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 34,300 | 34,200 | 34,400 | – 900 | 36,200 | 36,650 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 36,300 | 36,300 | 36,500 | – 200 | 37,300 | 36,000 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 35,300 | 35,200 | 35,400 | – 400 | 36,700 | 36,700 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 36,300 | 36,200 | 36,400 | – 700 | 37,200 | 38,700 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 33,800 | 33,700 | 33,900 | – 600 | 35,100 | 37,100 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 33,100 | 33,000 | 33,200 | – 400 | 34,600 | 36,000 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 33,500 | 33,400 | 33,600 | – 500 | 35,000 | 36,500 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 34,500 | 34,400 | 34,600 | – 900 | 36,450 | 37,000 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 36,800 | 36,800 | 37,000 | – 200 | 37,800 | 36,500 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 35,500 | 35,400 | 35,600 | – 500 | 37,000 | 37,000 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 38,800 | 38,600 | 39,000 | – 200 | 40,000 | 41,000 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 38,800 | 38,600 | 39,000 | – 300 | 39,800 | 41,000 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 37,500 | 37,300 | 37,500 | – 500 | 38,900 | 39,500 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 39,200 | 38,800 | 39,300 | – 400 | 40,400 | 40,400 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 42,200 | 42,100 | 42,500 | 0 | 42,500 | 41,000 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 39,000 | 38,800 | 39,200 | – 500 | 40,500 | 40,500 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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