Indian Semis prices fall during the week 16; specifically sponge by INR 100-300/MT and billet up to INR 1,200/MT (USD 19), W-o-W.
In a week major price fall in billet was seen in Ahmedabad by INR 1,200/MT followed by Mumbai at INR 950/MT & Raipur at INR 500/MT. While, in sponge prices major fall is gauged in Raipur by INR 300/MT.
Since the beginning of Week trade activities were bearish in Long & Semis products. Thus, sells was affected and the prices goes in downward mode.
Week – 16 dynamics
1. 78-80 FeM C-DRI offers are assessed at INR 17,750/MT (-150) ex-Durgapur, INR 16,900/MT (-100) ex-Rourkela, INR 18,200/MT (-300) ex-Raipur and INR 18,600/MT (0) ex-Bellary. Price changes mentioned are weekly basis.
2. 78-80 FeM P-DRI prices are assessed in the range of INR 16,400-19,200/MT across major markets.
3. 125×125 mm billet prices are evaluated at INR 27,600/MT (-100) in Durgapur, INR 27,300/MT (+250) in Rourkela, INR 27,700/MT (-500) in Raipur, INR 29,500/MT (-950) in Mumbai, INR 29,100/MT (-1,200) ex-Ahmedabad, INR 28,900/MT (-200) in Chennai and INR 29,500/MT (0) in Hyderabad.
4. Following dull demand, Indian pellet prices declined by INR 200/MT. Although, the miners has roll over Iron ore prices for the 1st half of Apr for domestic buyers.
5. Global Iron ore & pellet prices remain downward as there were predictions about correction in Iron ore prices in Australia. The prices down Iron ore by USD 7/MT & pellet by USD 4/MT. The prices are assessed – Iron ore 62% Fe at USD 68/MT & pellets (6-20 mm) at USD 93/MT; CNF China.
6. Indian pig iron prices gain momentum owing to sharp price rise of global Coking coal. The pig iron prices increase in Raipur, Central India by INR 1,150/MT & in Durgapur, East India INR 2,000/MT, W-o-W.
Outlook for Week – 17
1. Weakening long steel sales as well lull exports may further pressurize Indian semis market.
2. Indian pellet prices likely to remain downtrend, as demand is average in the domestic & global market.
3. Indian pig iron market may remain supported due to high coking prices.
Indian Raw material & Semis prices as on 15 Apr (Week 16)
| Products | Markets | Prices in INR/MT | W-o-W |
| Billet 125*125 MM | ex-Mumbai | 29,500 | – 950 |
| Scrap HMS (80:20) | ex-Mumbai | 22,800 | + 600 |
| C-DRI 80 FeM | ex-Raipur | 18,200 | – 300 |
| P-DRI 80 FeM | ex-Raipur | 16,950 | – 350 |
| Pig iron Steel grade | ex-Raipur | 25,000 | + 1,150 |
| Pellet Fe 63%, 6-20 mm | ex-Durgapur | 5,200 | – 200 |
| Iron ore Fe 62%, 5-18 mm | Joda loaded to wagon | 4,300 | 0 |
Basic prices in INR/MT; all taxes will be applicable
*Incld Royalty, DMF & NMET
Source: SteelMint Research
Leave a Reply