Indian Steel prices increase further on day trade activities on improved inquiries & short supply of Sponge iron. The prices of Billet & Sponge iron have increased about INR 200-500/MT (USD 3-7.5), day-on-day.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 32,500-36,500/MT (USD 473-532) ex-plant. Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 20,000-23,000/MT (USD 291-335); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 7th August 2018 (Tuesday) INR to USD exchange rate stood at INR 68.66
— BSE Sensex closed at 37,665(-26) on Tuesday, as against last day (Monday) at 37,691(+135).
Key Updates
— Jindal SAW (Rajasthan) increased pellet offers by INR 150/MT (USD 2). Offers for Fe 63% grade pellets are assessed around INR 7,650/MT (delivered Kandla) against last assessment of INR 7,500/MT.
— Domestic melting scrap offers rise – Jalna by INR 200/MT, Alang INR 200/MT,Hyderabad INR 200/MT, Durgapur INR 600/MT, Raipur INR 500/MT, Mandi Gobindgarh & Ludhiana by INR 200-400/MT, as per SteelMint’s daily assessment.
— Singhal Steel, Raigarh (Central India) based manufacturer has offered 60-14 Silico Manganese at around INR 64,000/MT ex-plant.
— Raipur, Central India based Integrated plants offer increased by INR 400-500/MT, offering Sponge P-DRI at INR 21,700-21,900/MT & Sponge DR CLO grade at INR 24,000-24,200/MT ex-plant.
— Durgapur, East India based mills have raised export offers to Nepal due to rally in domestic prices. Current offers for Induction grade Billet hovering at around USD 475/MT ex-mill. However as per participants no major deals as buyers in wait & watch.
— Electro Steels – based in Boakaro, Jharkhand has offer Steel grade Pig iron at INR 28,500-28,700/MT ex-plant & landed (FOR) Durgapur at INR 29,000/MT, excluding GST.
— Raigarh based Singhal Steel offered P-DRI at INR 21,000/MT ex-plant, an official reported. Also, the company is offering C-DRI at INR 22,500/MT ex-plant.
— Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 21,300/MT & billet at INR 32,300/MT ex-plant. As per officials, recently export deal of one rake billet to Nepal at around USD 475/MT (ex-Mill).
— BMM Ispat in South India (Karnataka) has increased offers for FeM 80 P-DRI by INR 500/MT to INR 19,500/MT ex-Bellary, an official reported. And added offers increase due to increased demand from Hyderabad.
— BIOP Steels in South India has increased sponge prices by around INR 300/MT, offering FeM 80 & 82 C-DRI lumps at INR 20,400/MT & INR 20,800/MT ex-plant, Karnataka; an official reported.
— Apple Industries in Bellary (Karnataka) offered Sponge FeM 82 C-DRI lump at INR 20,500/MT & Billet at INR 34,400/MT ex-plant. Majorly deals concluded for Bangalore & Chennai, an official reported.
— The suppliers in Raipur have reduced trade discount on Wire rod and current discount range at INR 400-600/MT.
Reference prices as on 7th August 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Mumbai | HMS(80:20) | 25,650 | 25,600 | 25,700 | + 150 | 25,000 | 24,300 |
| Ex-Chennai | HMS(80:20) | 22,850 | 22,800 | 22,900 | + 250 | 22,700 | 23,500 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 22,400 | 22,300 | 22,500 | + 400 | 21,200 | 21,000 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 21,400 | 21,300 | 21,500 | + 300 | 20,600 | 20,800 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 23,000 | 22,900 | 23,100 | + 500 | 21,900 | 21,400 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 20,000 | 19,900 | 20,100 | + 200 | 19,300 | 19,100 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 21,200 | 21,100 | 21,300 | + 400 | 19,900 | 20,000 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 21,800 | 21,700 | 21,900 | + 400 | 20,200 | 19,550 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,300 | 19,200 | 19,500 | + 300 | 18,500 | 18,300 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 19,600 | 19,500 | 19,700 | + 100 | 19,000 | 18,800 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 36,000 | 35,900 | 36,100 | + 400 | 34,000 | 35,300 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 32,600 | 32,500 | 32,700 | + 300 | 31,300 | 32,300 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 32,100 | 32,000 | 32,200 | + 600 | 30,000 | 31,600 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 32,900 | 32,800 | 33,000 | + 700 | 30,500 | 31,600 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 34,250 | 34,200 | 34,300 | + 700 | 32,000 | 32,200 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 34,900 | 34,800 | 35,000 | + 200 | 33,600 | 34,200 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 34,700 | 34,600 | 34,800 | + 500 | 33,200 | 33,700 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 36,500 | 36,400 | 36,600 | + 400 | 34,500 | 35,700 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 33,100 | 33,000 | 33,200 | + 200 | 32,000 | 32,800 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 32,500 | 32,400 | 32,600 | + 400 | 30,750 | 32,500 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 33,500 | 33,300 | 33,700 | + 500 | 31,200 | 32,500 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 34,500 | 34,400 | 34,600 | + 600 | 32,350 | 32,400 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 35,400 | 35,300 | 35,500 | + 200 | 34,100 | 34,700 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 35,000 | 34,900 | 35,100 | + 500 | 33,500 | 34,000 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 38,500 | 38,400 | 38,700 | + 700 | 36,700 | 39,900 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 36,400 | 36,200 | 36,600 | + 300 | 35,600 | 37,300 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 36,600 | 36,600 | 36,800 | + 700 | 34,400 | 37,000 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 37,700 | 37,500 | 37,900 | + 600 | 36,000 | 37,500 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 39,600 | 39,500 | 39,900 | + 300 | 38,700 | 39,600 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 39,000 | 38,800 | 39,200 | + 500 | 37,500 | 38,500 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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