Indian Steel prices fall further on limited spot trades. The prices of Billet slump by INR 100-500/MT and majorly in East & Central regions. Meanwhile price corrections in sponge iron was about INR 200-700/MT (USD 3-10), day-on-day.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 32,500-36,700/MT (USD 441-499) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 21,600-23,500/MT (USD 293-319); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 4th October 2018 (Thursday) INR to USD exchange rate stood at INR 73.62
— BSE Sensex closed at 35,169(-806) on Thursday, as against last day (Wednesday) at 35,975(-550).
Raw Materials
— In Apr-Sep’18, Rourkela Steel Plant (RSP), a unit of Steel Authority of India Ltd (SAIL) has produced 18,67,616 tonnes of Hot Metal, 17,71,308 tonnes of Crude Steel and 15,84,650 tonnes of Saleable Steel, rise by 19.3 %, 17.3 % and 12.3 % over the H1 of previous fiscal.
— Indian iron ore imports in Q2 FY’19 recorded at 4.04 MnT, increased by 16% Q-o-Q against 3.48 MnT in Q1 FY’19.
— In Sept’18, Australia stood the largest exporter of iron ore to India at 0.57 MnT (down by 53% M-o-M), contributing 52% of total imports.
— Domestic melting scrap offers decline – Jalna by INR 100/MT, Alang INR 300/MT, Mumbai INR 200/MT, Durgapur INR 500/MT, Hyderabad INR 200/MT, Mandi Gobindgarh & Ludhiana by INR 600/MT, as per SteelMint’s daily assessment
Semi Finished
— Indian sponge iron export offers fall by USD 20-25/MT W-o-W, price assessment for 78-80 FeM sponge lumps are at USD 330-335/MT CPT Benapole (dry land port of Bangladesh & India) and USD 350-355/MT CFR Chittagong, Bangladesh.
— Indian Pig iron export tender for 30,000 MT concluded at around USD 388-390/MT, FoB
— Durgapur based Neo Metaliks has further reduced pig iron prices & latest offer for Steel grade reported at INR 29,600-29,800/MT ex-plant & excluding GST.
— Raipur, Central India based Integrated plants offers decreased by INR 200/MT, offering Sponge P-DRI at INR 21,900-22,000/MT & Sponge DR CLO grade at INR 24,300-24,500/MT ex-plant.
— Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 22,200-22,300/MT & Billet at INR 32,600/MT ex-plant.
— Odisha based manufacturer, Ganesh Metaliks offered Billet at INR 32,800-33,000/MT ex-plant, an official reported.
— BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 22,000/MT ex-Bellary, Karnataka
— BIOP Steels in South India has decreased sponge prices by INR 400-500/MT, offering FeM 80 & 82 C-DRI lumps at INR 22,600/MT & INR 23,100/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 22,300/MT ex-plant, an official reported.
— The export offers of 150*150 IS 2830 grade billet are currently at USD 490-500/MT FoB India, 150*150 Q235 are at USD 520-530/MT FoB China & 125*125 3sp at USD 465-475/MT FoB Ukraine.
Finish Long
— The suppliers in Raipur have increased trade discount on wire rod and today’s discount at INR 1,200-1,600/MT.
— East region based – Shakambhari Ispat & Power Ltd has offered Wire Rod 5.5mm at INR 39,700/MT & rebar (16 mm) at INR 37,700/MT, ex-work & excluding GST.
— Hyderabad (South India) based Pipe manufacturer Mahalakshmi Profiles Pvt. Ltd (MPL) has offered Electric Resistance Welded (ERW) Pipe which is made from strips of hot-rolled steel at INR 42,000/MT ex-plant. (basic & excluding GST).
— South region based – VRKP Steel Industry Pvt Ltd – VRKP tmt reduced their prices by INR 200/MT in last couple of days and current offers for rebars at INR 48,800/MT (8mm), ex-work & including GST.
— Rathi Steels in North region reduced their prices by INR 700-800/MT on day basis and reported at INR 39,200/MT (12mm) & excluding GST.
— Central region, Raipur based brand – SPEED TMT unchanged their prices on day basis and current offering at INR 35,300/MT (28mm), ex-work & excluding GST.
— Gujarat based Shreeyam Power & Steel Industries Ltd branding as National TMT decreased their prices by INR 200/MT on day basis and current offering rebar at INR 46,000/MT(20mm) FoR & including GST, Sponge P-DRI at INR 24,500/MT & Billet at INR 34,600/MT, excluding GST.
— Kalika Steel Alloys in Jalna reduced their prices by INR 300/MT d-o-d basis & current offering rebar at INR 36,700/MT (28mm) ex-plant & excluding GST.
— Jalna based rebar manufacturer – SRJ Peety Steels Pvt Ltd branding Shree Om TMT decreased their (28 mm) rebar prices by around INR 300/MT to INR 36,700/MT, ex-work & excluding GST.
Reference prices as on 4th October 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 26,700 | 26,600 | 26,800 | – 300 | 27,300 | 29,200 |
| Ex-Mumbai | HMS(80:20) | 26,100 | 25,900 | 26,200 | – 200 | 27,900 | 26,500 | |
| Ex-Chennai | HMS(80:20) | 26,800 | 26,700 | 27,000 | + 300 | 27,400 | 25,500 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 21,600 | 21,500 | 21,700 | – 200 | 22,400 | 25,400 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 22,300 | 22,200 | 22,400 | – 200 | 23,750 | 25,200 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 23,500 | 23,400 | 23,600 | – 300 | 24,900 | 26,500 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 22,500 | 22,400 | 22,600 | – 500 | 23,900 | 23,600 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 20,200 | 20,100 | 20,300 | – 300 | 21,000 | 24,400 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 21,900 | 21,800 | 22,000 | – 300 | 23,000 | 25,200 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 21,900 | 21,800 | 22,000 | – 200 | 23,300 | 23,100 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 22,300 | 22,200 | 22,400 | – 700 | 24,000 | 23,650 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 35,000 | 34,900 | 35,100 | – 500 | 36,400 | 38,200 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 33,000 | 32,900 | 33,100 | – 200 | 34,100 | 36,900 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 31,800 | 31,700 | 31,900 | – 300 | 33,400 | 35,500 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 32,200 | 32,100 | 32,300 | – 400 | 33,750 | 35,900 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 33,800 | 33,700 | 33,900 | – 500 | 35,900 | 37,300 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 36,200 | 36,000 | 36,400 | – 100 | 37,300 | 36,800 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 34,700 | 34,600 | 34,800 | – 600 | 35,700 | 37,200 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 35,800 | 35,700 | 35,900 | – 500 | 37,100 | 38,700 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 33,500 | 33,400 | 33,600 | – 300 | 34,600 | 37,400 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 32,600 | 32,500 | 32,700 | – 500 | 34,200 | 36,300 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 33,000 | 32,900 | 33,100 | – 500 | 34,700 | 36,900 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 34,100 | 34,000 | 34,200 | – 400 | 36,200 | 37,600 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 36,700 | 36,500 | 36,900 | – 100 | 37,800 | 37,300 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 35,000 | 34,900 | 35,100 | – 500 | 36,000 | 37,500 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 38,200 | 38,000 | 38,000 | – 600 | 39,500 | 41,100 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 38,500 | 38,300 | 38,700 | – 300 | 39,300 | 41,300 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 37,300 | 37,200 | 37,500 | – 200 | 38,600 | 39,800 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 38,700 | 38,300 | 38,800 | – 500 | 40,400 | 40,800 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 41,800 | 41,600 | 42,000 | – 400 | 42,300 | 41,200 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 38,500 | 38,300 | 38,700 | – 500 | 39,700 | 41,000 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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