Indian Semi finished steel prices increase further on improved demand from the local mills and as per assessment the Billet prices have increased by INR 100-600/MT & Sponge iron by INR 100-300/MT, day-on-day.
The major markets in eastern region was closed today, however inquiries in rest parts of the country gain slightly, this led to price rise.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 33,500-37,300/MT (USD 455-507) ex-plant. Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 21,800-23,200/MT (USD 296-315); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 17th October 2018 (Wednesday) INR to USD exchange rate stood at INR 73.67
— BSE Sensex closed at 34,779(-382) on Wednesday, as against last day (Tuesday) 35,162(+297).
— NSE Nifty50 index was closed today at 10,453(-131).
Trade Updates :-
— The Odisha government has announced a temporary freeze on conduct of online mineral auctions given the pending case in the Delhi High Court (HC). The court had ordered the government not to go ahead with mine block auctions till the final judgement was pronounced.
— According to sources, at least seven workers have been reported injured when a fire broke out inside a non-operational oil tanker at Gadani shipbreaking yard, Pakistan on this Sunday, the 14th of October.
— Billet exports from India considerably rose during Aug’18 and stood at all time high, as per data maintained by SteelMint, since Jan 2013. India exported about 326,404 MT Billet in Aug’18, surge by 157% M-o-M as against 126,696 MT in Jul’18.
— Raipur, Central India based Integrated plants offer increased by INR 200-300/MT, offering Sponge P-DRI at INR 21,700-21,800/MT & Sponge DR CLO grade at INR 24,000-24,200/MT ex-plant.
— Odisha based mid size sponge manufacturers have raised prices by INR 200-300/MT and latest offers quoted at INR 22,200-22,400/MT for FeM 80 C-DRI (70:30 mix material), ex-plant & excluding GST.
— The suppliers in Raipur have decreased trade discount on wire rod and today’s discount at about INR 600-800/MT.
— As per sources, SAIL – state owned steel maker, recent has received bulk order for rebar from Hyderabad – South India at around 2,500 MT at the price of INR 44,500/MT (12-32mm), excluding GST.
— Rathi Steels in North region increased their prices by around INR 500/MT on day basis and current offering at INR 40,800-900/MT (12 mm), excluding GST.
— Central region, Raipur based brand – SPEED TMT slightly increase their prices by INR 300/MT on day basis and offering at INR 35,500/MT (28 mm), ex-work & excluding GST.
— Kalika Steel Alloys in Jalna has slightly increased their prices by INR 200/MT d-o-d basis & offering rebar at INR 36,400/MT (28 mm) ex-plant & excluding GST.
— Jalna based rebar manufacturer – SRJ Peety Steels Pvt Ltd branding Shree Om TMT increased rebar prices by INR 400/MT on day basis and offering at INR 36,400/MT (28 mm) ex-work & excluding GST.
— Gujarat based Shreeyam Power & Steel Industries Ltd branding as National TMT has increased prices by INR 300-400/MT on day basis and offering rebar at INR 45,200/MT (20 mm) FoR & including GST.
— South India – Chennai based ARS Trusteel has unchanged their prices on day basis & current offering rebar at INR 42,000/MT (12 mm), ex-plant & excluding GST.
— Tulsyan NEC Steel (Tulsyan) based in Chennai offered 12mm Rebars at INR 42,000/MT, ex-plant & excluding GST.
Reference prices as on 17th October 2018
| Products | Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M |
| Scrap | Ex-Alang | HMS(80:20) | 27,100 | 27,000 | 27,200 | +400 | 27,300 | 28,100 |
| Ex-Mumbai | HMS(80:20) | 25,500 | 25,400 | 25,600 | 0 | 26,100 | 27,500 | |
| Ex-Chennai | HMS(80:20) | 26,100 | 26,000 | 26,400 | – 100 | 26,800 | 26,200 | |
| C-DRI | Ex-Rourkela | Mix, FeM 80%, +/-1 | 22,200 | 22,100 | 22,300 | +100 | 22,700 | 25,100 |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 23,200 | 23,100 | 23,300 | + 200 | 23,800 | 26,200 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 21,800 | 21,700 | 21,900 | +200 | 22,700 | 24,100 | |
| P-DRI | Ex-Raipur | Lumps, FeM 80%, +/-1 | 21,700 | 21,600 | 21,800 | +200 | 22,400 | 24,700 |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 21,000 | 20,900 | 21,200 | +200 | 22,100 | 23,600 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 21,800 | 21,700 | 21,900 | +200 | 22,600 | 24,200 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 36,500 | 36,400 | 36,600 | +500 | 36,600 | 38,000 |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 32,900 | 32,800 | 33,000 | +300 | 33,000 | 34,600 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 33,500 | 33,400 | 33,600 | +400 | 33,500 | 35,000 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 34,000 | 34,000 | 34,100 | + 100 | 34,600 | 36,400 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 35,300 | 35,200 | 35,400 | +100 | 35,700 | 37,500 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 34,900 | 34,800 | 35,000 | +400 | 35,200 | 36,700 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 37,300 | 37,200 | 37,500 | +500 | 37,400 | 38,500 |
| Ex-Rourkela | 125×125 mm, IS 2831 | 33,500 | 33,400 | 33,600 | +400 | 33,600 | 35,700 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 34,450 | 34,400 | 34,500 | +450 | 34,400 | 36,000 | |
| Ex-Ahmedabad | 125×125 mm, IS 2831 | 35,000 | 34,900 | 35,100 | +600 | 35,200 | 36,700 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 34,200 | 34,200 | 34,300 | + 100 | 34,800 | 36,700 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 35,800 | 35,700 | 36,000 | +100 | 36,200 | 38,000 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 35,200 | 35,100 | 35,300 | +400 | 35,500 | 37,000 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 39,400 | 39,200 | 39,600 | + 300 | 39,400 | 40,700 |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 37,500 | 37,400 | 37,600 | +100 | 38,100 | 38,900 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 38,300 | 37,900 | 38,400 | 0 | 39,100 | 40,700 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 40,800 | 40,600 | 41,000 | +100 | 41,400 | 42,300 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 38,800 | 38,800 | 39,000 | +300 | 39,000 | 40,500 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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