Indian Semi finished steel prices rebound with improved inquiries & supply concern. As per assessment, the prices of Sponge iron increase by INR 200-600/MT (USD 3-9), while Billet prices surge by INR 100-400/MT (upto USD 6), day-on-day.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 30,800-34,700/MT (USD 448-506) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 19,200-21,900/MT (USD 279-319); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 27th July 2018 (Friday) INR to USD exchange rate stood at INR 68.63
— BSE Sensex closed at 37,336(+352) on Friday, as against last day (Thursday) at 36,984(+126).
Raw material
— NMDC (C.G.) kept iron ore prices unaltered. Baila lump(Fe 65%)- INR 3,200/MT; Baila fines(Fe 64%)- INR 2,810/MT; DR CLO(Fe 67%)- INR 3,720/MT & ROM(Fe 65%)- INR 2,950/MT (Royalty, DMF & other taxes extra).
— NMDC Donimalai has decreased fines (Fe 64%) base price around INR 300/MT to around INR 2,680/MT (basic) against last assessment INR 2,983/MT.
— Indian iron ore imports in June’18 witnessed at 0.92 MnT, decline by 42% M-o-M as against 1.59 MnT in May’18.
Semi finished
— The private pig iron producers based in East India – Durgapur & Jharkhand have maintain prices with rolled over prices by NINL & rising Billet prices. Today, the prices for Steel grade reported at around INR 29,300-29,500/MT ex-Durgapur & INR 28,500-29,000/MT ex-Jharkhand, excluding GST.
— Raipur, Central India based Integrated plants have increased offers by INR 400/MT day-on-day and offering Sponge P-DRI at INR 20,200/MT ex-plant. However no major deals heard at the offers prices.
— In West Bengal – Durgapur, big manufacturers have increased sponge offers by INR 400-600/MT D-o-D; offering P-DRI at INR 19,400-19,600/MT & C-DRI at INR 20,800-21,000/MT ex-plant
— Govindam Sponge, an Odisha based plant offered FeM 80 sponge mix material at INR 20,800/MT & fines at INR 20,300/MT ex-plant;
— Apple Industries in Bellary (Karnataka) offered Sponge FeM 82 C-DRI lump at INR 19,500/MT & Billet at INR 33,000/MT ex-plant.
— Karnataka based Bhadrashree Steel & Power Ltd is offering 80 FeM C-DRI at INR 19,300/MT & P-DRI at INR 18,600/MT; prices are ex-plant & excluding GST.
— BIOP Steels in South India has offered FeM 80 & 82 C-DRI lumps at INR 19,100/MT & 19,500/MT ex-plant, Karnataka; an official reported.
Finish Long
— Jalna based rebar manufacturer – SRJ Peety Steels Pvt Ltd branding Shree Om TMT unchanged on day basis and offering 28 mm rebar at INR 33,400/MT, ex-work & excluding GST.
— East region based – Baba Smelter Pvt. Ltd has unchanged their Structure offers on day basis & current (125,150 Channel) offering at INR 37,750/MT, ex-work & excluding GST.
— West region, Wada based – Vistar tmt has offered basic Rebar 28 mm at INR 32,600/MT, unchanged on day basis, ex-work & excluding GST.
— Central region, Raipur based brand – SPEED TMT has unchanged on day basis and current offering at INR 32,300/MT (28 mm), ex-work & excluding GST.
— South region – Chennai based manufacturer reported Structure – 40 Angle at INR 39,400-39,600/MT on routine payment terms, ex-work & excluding GST.
— Jalna based Matsyodari Steel and Alloy Pvt Ltd. offering billet at INR 32,000/MT, ex-work & excluding GST.
— Goa based plants have recently booked 20 ft containerised melting scrap at USD 305/MT, 20 MT+/- loading from West Africa & arrival period would be approximate 45-60 days.
Reference prices as on 27th July 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Mumbai | HMS(80:20) | 24,800 | 24,700 | 24,900 | + 100 | 24,500 | 25,150 |
| Ex-Chennai | HMS(80:20) | 22,700 | 22,600 | 22,800 | 0 | 22,600 | 24,900 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 20,900 | 20,800 | 21,000 | + 600 | 20,400 | 22,100 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 20,700 | 20,600 | 20,800 | + 100 | 20,600 | 20,800 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 21,900 | 21,800 | 22,000 | + 200 | 21,800 | 21,500 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,200 | 19,100 | 19,300 | + 200 | 19,200 | 19,100 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 19,500 | 19,400 | 19,600 | + 400 | 19,200 | 21,100 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 20,000 | 19,900 | 20,100 | + 250 | 19,800 | 19,600 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 18,600 | 18,500 | 18,700 | + 100 | 18,500 | 18,400 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 19,100 | 19,000 | 19,200 | + 100 | 18,800 | 19,500 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 34,200 | 34,100 | 34,300 | + 400 | 33,700 | 38,100 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 31,300 | 31,200 | 31,400 | + 400 | 31,000 | 34,700 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 30,100 | 30,000 | 30,200 | + 50 | 30,300 | 33,600 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 30,800 | 30,700 | 30,900 | + 600 | 30,800 | 34,100 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 31,550 | 31,500 | 31,600 | + 150 | 31,500 | 34,400 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 33,500 | 33,400 | 33,700 | 0 | 33,500 | 34,500 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 32,700 | 32,600 | 32,800 | 0 | 33,200 | 34,200 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 34,700 | 34,600 | 34,800 | + 400 | 34,200 | 38,500 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 31,900 | 31,800 | 32,000 | + 400 | 31,600 | 35,100 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 30,800 | 30,700 | 30,900 | 0 | 31,000 | 34,300 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 31,500 | 31,400 | 31,600 | + 400 | 31,450 | 35,000 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 31,750 | 31,700 | 31,800 | + 50 | 31,800 | 34,600 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 34,000 | 33,900 | 34,200 | 0 | 34,000 | 35,000 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 33,000 | 32,900 | 33,100 | 0 | 33,500 | 34,500 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 37,500 | 37,300 | 37,700 | 0 | 38,200 | 41,900 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 35,600 | 35,400 | 35,800 | + 100 | 36,100 | 39,900 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 34,500 | 34,300 | 34,700 | 0 | 35,200 | 39,400 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 35,600 | 35,400 | 35,800 | 0 | 35,800 | 38,500 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 38,900 | 38,700 | 39,100 | 0 | 39,200 | 39,800 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 37,500 | 37,300 | 37,700 | 0 | 38,000 | 39,500 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
Leave a Reply