Indian Billet & Sponge iron prices have increased by INR 100-400/MT day-on-day on improved domestic trade activities. As per producers, the buyers are taking interest which were cautious during last week owing to holidays mood & unclear market trends.
Meanwhile looking to price rally in Billet & Sponge iron, the private pig iron producers in eastern India have being raised prices by around INR 500/MT (USD 7) in recent trades.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 34,000-37,900/MT (USD 462-516) ex-plant. Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 22,200-23,600/MT (USD 302-321); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 22nd October 2018 (Monday) INR to USD exchange rate stood at INR 73.50.
— Today, BSE Sensex closed at 34,134(-181) & NSE Nifty50 index was closed at 10,245(-58).
Raw Materials
— Odisha govt has resumed issuing permits to the four iron ore mines whose permits were put on hold in end of 1st week of October. These mines include – Serajuddin Mines, KJS Ahluwalia, Kaypee Enterprises and AMTC -Source.
— Imported scrap offers to India for HMS 1&2 (80:20) Dubai origin containers stood at around USD 340/MT, CFR Nhava Sheva
— Local manufacturers in Raigarh are offering 60-14 Silico Manganese at around INR 72,000/MT ex-plant.
— Central India, Raigarh based mill owners reported, 6 hours power cut continues by Jindal for Punjipatra region.
Semi Finished
— Private pig iron producers have increased prices on rising billet prices and assumptions of reduce supply by NINL due to company’s plan to produce other steel products.
— Neo Metaliks in Durgapur has raised pig iron prices and latest offers for Steel grade reported at INR 29,800-30,000/MT as against beginning of last week at close to INR 29,000/MT, ex-plant.
— Raipur based integrated plants have offered Sponge P-DRI at INR 22,000/MT, however buying interest reported at around INR 21,800/MT, ex-plant.
— Rashmi Metaliks in Durgapur, known as price trend setter for sponge iron, has offered Sponge P-DRI at INR 22,100-22,200/MT – Sources.
— Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 22,800/MT & Billet at INR 34,000/MT ex-plant
— BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 21,200-21,300/MT ex-Bellary, an official reported.
— BIOP Steels in South India has increased sponge prices by INR 400/MT, offering FeM 80 & 82 C-DRI lumps at INR 22,300/MT & INR 22,800/MT ex-plant, Karnataka.
— South India (Telangana) based Cauvery Iron & Steel offers FeM 80 P-DRI & Billet at INR 22,000/MT & INR 34,500/MT. Also offering 28 MM Rebar at INR 36,000/MT. All prices are ex-plant & excluding GST.
Finish Long
— Hyderabad (South India) based Pipe manufacturer Mahalakshmi Profiles Pvt. Ltd (MPL) has kept offers unaltered for Electric Resistance Welded (ERW) Pipe which is made from strips of hot-rolled steel at INR 42,500/MT ex-plant. (basic & excluding GST).
— Gujarat based Shreeyam Power & Steel Industries Ltd branding as National TMT unchanged their prices on day basis and offering rebar at INR 45,200/MT (20 mm) FoR & including GST at 18%.
— South India – Chennai based ARS Trusteel has increased their prices by INR 400/MT on day basis & offering rebar at INR 42,400/MT (12 mm), ex-plant & excluding GST.
— Jalna based rebar manufacturer – SRJ Peety Steels Pvt Ltd branding Shree Om TMT decreased rebar prices by INR 400/MT on day basis and offering at INR 35,600/MT (28 mm), ex-work & excluding GST.
— Central region, Raipur based brand – SPEED TMT has slightly increase their prices by INR 100/MT on day basis and offering at INR 35,700/MT (28 mm), ex-work & excluding GST.
— SAIL – Universal Rail Mill in (BSP) recorded a new high in daily production with rolling of 245 numbers of 130 metre long rails on 21st October 2018, surpassing previous best of 229 nos of 130 metre rails rolled on 6th Sept’18, as per company’s website.
Reference prices as on 22nd October 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 27,400 | 27,300 | 27,500 | 0 | 26,500 | 27,400 |
| Ex-Mumbai | HMS(80:20) | 25,500 | 25,400 | 25,600 | 0 | 25,500 | 28,000 | |
| Ex-Chennai | HMS(80:20) | 26,000 | 25,900 | 26,200 | 0 | 26,300 | 27,300 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 23,600 | 23,500 | 23,700 | + 200 | 22,700 | 23,300 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 22,600 | 22,500 | 22,700 | + 200 | 21,900 | 24,600 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 23,500 | 23,400 | 23,600 | + 400 | 22,800 | 25,700 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 22,200 | 22,100 | 22,300 | + 100 | 21,600 | 24,100 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 22,100 | 22,000 | 22,200 | + 300 | 21,300 | 21,900 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 21,900 | 21,800 | 22,000 | + 300 | 21,200 | 24,000 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 21,200 | 21,100 | 21,300 | 0 | 20,800 | 23,500 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 22,000 | 21,900 | 22,100 | + 100 | 21,600 | 24,100 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 37,100 | 37,000 | 37,200 | + 400 | 35,600 | 37,150 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 34,500 | 34,400 | 34,600 | + 200 | 33,600 | 35,000 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 33,500 | 33,400 | 33,600 | + 300 | 32,250 | 33,800 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 34,000 | 33,900 | 34,100 | + 400 | 32,600 | 34,400 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 33,800 | 33,700 | 33,900 | – 100 | 33,800 | 36,000 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 35,300 | 35,300 | 35,500 | + 200 | 35,000 | 37,500 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 34,500 | 34,300 | 34,700 | – 200 | 34,000 | 36,700 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 37,900 | 37,800 | 38,000 | + 400 | 36,400 | 37,750 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 35,000 | 34,900 | 35,100 | + 300 | 34,000 | 35,500 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 34,000 | 33,900 | 34,100 | + 400 | 32,800 | 34,700 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 34,900 | 34,800 | 35,000 | + 300 | 33,500 | 35,400 | |
| Ex-Ahmedabad | 125×125 mm, IS 2831 | 35,000 | 34,900 | 35,100 | + 200 | 34,200 | 36,150 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 34,000 | 33,900 | 34,100 | – 100 | 34,000 | 36,300 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 35,800 | 35,800 | 36,000 | + 200 | 35,500 | 38,000 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 34,700 | 34,500 | 35,000 | – 300 | 34,300 | 37,000 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 40,200 | 40,000 | 40,400 | + 600 | 38,800 | 40,000 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 39,700 | 39,500 | 40,000 | + 200 | 38,800 | 40,100 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 37,800 | 37,700 | 37,900 | + 200 | 37,100 | 38,900 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 37,800 | 37,700 | 38,100 | – 200 | 38,300 | 40,100 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 40,600 | 40,600 | 40,800 | 0 | 40,700 | 42,600 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 38,500 | 38,300 | 38,700 | – 500 | 38,000 | 40,500 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
Leave a Reply