Today, Indian Semis market reported volatility in prices in which prices of Billet & Sponge iron have increased by INR 100-300/MT in East India, while in Central region it unaltered. However, the price fall being reported in Billets in West & South India by INR 300-500/MT (USD 4-8) due to slowdown local inquiries.
SteelMInt’s latest price assessment for induction furnaces billet in Indian market stood at INR 35,400-39,200/MT (USD 532-589) ex-plant. Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 19,700-22,900/MT (USD 296-344); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 30th Apr 2018 (Monday) INR to USD exchange rate stood at INR 66.49
— BSE Sensex closed at 35,160(+190) on Monday, as against last day (Friday) at 34,969(+256).
Raw Materials
— Indian Silico Manganese prices fall further on poor demand globally resulting price competition in domestic trades.
Semi Finished
— Raipur based big plants have unaltered prices for P-DRI at INR 19,900-20,000/MT ex-plant. Meanwhile, medium size sponge manufacturers offered DR-CLO grade sponge at INR 23,400-23,600/MT ex-plant.
— Rashmi Metaliks in Durgapur, East India, a price trend setter has raised prices by INR 200/MT and offered Sponge P-DRI at INR 21,400-21,500/MT & Billet at INR 36,900-37,000/MT – Sources.
— Bokaro, Jharkhand based a private producer, offering Wire rod for exports to Nepal, Blast furnace grade high carbon at INR 46,500/MT (USD 705) & low carbon at INR 45,500/MT (USD 690) ex-plant. As per officials recent a deal concluded for a rake to Nepal at the same prices.
— Steel grade Pig iron prices in Eastern India hovering at INR 31,800-32,000/MT ex-Durgapur & INR 31,800-32,300/MT ex-plant, Jharkhand. As per private producers, currently they have limited stock and indicates prices to increase further if demands get improved.
— South India – Karnataka based market participants stated, slowdown local inquiries due to upcoming assembly elections in the state which scheduled on 12th May 2018. Sponge iron prices in Bellary, Karnataka one of the merchant supplier of Sponge have declined by INR 200-300/MT and the latest offer assessed for P-DRI at INR 18,700-18,900/MT & C-DRI lumps at INR 19,700-19,800/MT; FeM 80, ex-plant & excluding GST.
— Odisha, Rourkela based couple of merchant billet manufacturers stated, shortage of Billet in local market owing to strong export bookings for Nepal as well as improved out states inquiries specifically from North-east regions. Another, key factor behind supply crunch in billets stated, power shortage which is about 6-8/10 hrs every day. Today’s deal for 100*100mm Billets reported at close to INR 35,500-35,700/MT ex-plant
— Odisha, Rourkela offers for Sponge C-DRI (70:30) hovering at INR 21,200-21,400/MT ex-plant. As per producers ready delivery demand is strong from North India – Punjab and freight cost via road reported around INR 3,200/MT.
— RINL’s (Vizag Steel) 150*150 mm Bloom export tender to Nepal heard have concluded at around USD 510-515/MT (ex-mill) for 5,504 MT (equivalent to 2 rakes).
Finished Steel
— Rathi Steels in North India – Delhi have unchanged their prices d-o-d basis and offering 12 mm Rebars at INR 43,000/MT, excluding GST.
— The suppliers in Raipur have unchanged trade discount on Wire rod amid improve trade volume, size – 5.5 MM at around INR 800-1,000/MT.
— Raipur Power and Steel Ltd has offered Wire Rod (5.5 MM) at INR 40,900/MT & Raw Pellet at INR 6,000/MT, ex-mill & excluding GST.
— Mumbai, Maharashtra based Guardian TMT have increased rebars prices by around INR 200/MT and current offering at INR 40,600/MT (12 mm) ex-work & excluding GST.
— Finish long steel (Bar & rods and Structures) production in India surge by 6% Y-o-Y & M-o-M basis in Mar 2018 and stood at 4.09 MnT.
Reference prices as on 30th April 2018
| Products | Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 22,900 | 22,800 | 23,000 | + 300 | 21,400 | 19,700 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 21,200 | 21,100 | 21,300 | + 100 | 20,800 | 19,800 | |
| Ex-Raipur | 0-20 mm, -1 mm (20-25%), FeM 82%, +/-1 | 23,600 | 23,500 | 23,700 | 0 | 22,900 | 21,800 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,700 | 19,600 | 19,800 | – 200 | 20,200 | 20,200 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 21,500 | 21,400 | 21,600 | + 300 | 20,000 | 18,300 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 19,950 | 19,900 | 20,000 | – 50 | 19,600 | 19,600 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 18,900 | 18,800 | 19,000 | – 200 | 19,100 | 19,600 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 19,700 | 19,600 | 19,800 | – 100 | 20,300 | 20,600 | |
| INGOT | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 38,500 | 38,300 | 38,500 | + 300 | 37,100 | 35,700 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 36,400 | 36,300 | 36,500 | + 200 | 34,800 | 32,500 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 35,100 | 35,000 | 35,200 | + 200 | 34,000 | 31,700 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 35,000 | 34,900 | 35,100 | 0 | 34,100 | 32,600 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 36,600 | 36,500 | 36,700 | + 100 | 35,600 | 34,900 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 36,500 | 36,400 | 36,600 | 0 | 36,500 | 35,700 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 35,700 | 35,600 | 35,700 | – 500 | 36,000 | 33,700 | |
| BILLET | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 39,200 | 39,100 | 39,300 | + 300 | 37,500 | 36,300 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 36,900 | 36,800 | 37,000 | + 100 | 35,250 | 32,800 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 35,600 | 35,500 | 35,700 | + 200 | 34,400 | 32,400 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 36,000 | 35,900 | 36,100 | 0 | 34,900 | 33,200 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 36,800 | 36,700 | 36,900 | + 100 | 35,900 | 35,200 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 37,000 | 37,000 | 37,300 | 0 | 37,000 | 36,200 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 36,000 | 35,900 | 36,000 | – 500 | 36,300 | 34,000 | |
| TMT | Ex-Delhi/NCR | 12MM | 41,600 | 41,400 | 41,800 | 0 | 40,900 | 38,900 |
| Ex-Durgapur | 12MM | 41,000 | 40,800 | 41,200 | 0 | 39,600 | 37,800 | |
| Ex-Raipur | 12MM | 39,700 | 39,500 | 39,900 | 0 | 38,900 | 37,000 | |
| Ex-Mumbai | 12MM | 40,600 | 40,200 | 40,700 | + 200 | 39,500 | 38,800 | |
| Ex-Chennai | 12MM | 41,000 | 40,800 | 41,200 | 0 | 41,000 | 41,000 | |
| Ex-Hyderabad | 12MM | 40,500 | 40,300 | 40,700 | – 500 | 41,000 | 39,500 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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