Indian Semis market remains volatile on day trade activities and the price fluctuation today have seen by INR 100-200/MT in both Sponge iron & Billets.
SteelMint’s price assessment for induction furnaces billet size 125×125 mm are stood at INR 32,300-36,200/MT (USD 497-557) ex-plant. And the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 19,500-21,300/MT (USD 300-328); prices are ex-plant & excluding GST.
On 3rd Apr 2018 (Tuesday) INR to USD exchange rate stood at INR 65.00 & BSE Sensex closed at 33,370(+115).
Raw materials
— India’s largest iron ore miner, NMDC supplied 375 rakes of iron ore in Mar’18 which has increased as against in Feb’18 at 368 rakes. However, the miners iron ore exports decreased by 26% in Mar’18 to 40 rakes as against 54 rakes in Feb’18.
— Domestic melting scrap offers rise – Mumbai & Jalna by INR 600/MT, Alang by INR 700/MT, Durgapur by INR 500/MT, Mandi Gobindgarh & Ludhiana by INR 800-1,200/MT in a week duration, as per SteelMint assessment
Semi finished
— Raipur, Central India based Integrated plants offer unaltered, offering Sponge P-DRI at INR 19,600-19,700/MT & Sponge DR CLO grade at INR 21,700-21,900/MT ex-plant
— In West Bengal – Durgapur, big manufacturers have decreased sponge offers by INR 200/MT D-o-D; P-DRI at INR 18,000-18,200/MT & C-DRI at INR 19,300-19,500/MT ex-plant
— Steel grade Pig iron producers in Central & Eastern India kept offers unaltered and reported at INR 29,000-29,200/MT ex-Raipur & INR 28,000-28,400/MT ex-Durgapur
— Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 20,200/MT & billet at INR 32,200/MT ex-plant. As per officials, recent in last week-end export deal of 2 rakes billet to Nepal at around USD 500/MT (Loaded to wagon).
— BMM Ispat in South India has kept offers firm and reported FeM 80 P-DRI at INR 19,700/MT ex-Bellary, Karnataka.
— BIOP Steels in South India has offered FeM 80 & 82 C-DRI lumps at INR 20,800/MT & 21,300/MT ex-plant, Karnataka; an official reported.
Finished Long
— Rathi Steels in North India – Delhi have increased their price by INR 350/MT today and current offering at INR 40,600/MT, size – 12 mm & excluding 18% GST. As per trade participants, the company is also providing discounts on bulk bookings.
— Raipur based medium mills offering 12 mm rebars at INR 36,900-37,100/MT (ex-works) along with additional discount of INR 200-400/MT to improve trade inquiries.
— South Region based – Prime Gold Int’l Ltd offering rebars at INR 42,000/MT (12 mm), ex-work & excluding GST.
— The suppliers in Raipur have slightly reduced trade discount on Wire rod by INR 200/MT to INR 800-1,000/MT.
Reference prices as on 3rd April 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Mumbai | HMS(80:20) | 25,500 | 25,400 | 25,600 | + 100 | 24,700 | 25,500 |
| Ex-Chennai | HMS(80:20) | 25,700 | 25,600 | 25,700 | + 100 | 25,700 | 25,900 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 19,500 | 19,400 | 19,600 | – 200 | 19,900 | 22,600 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 19,900 | 19,800 | 20,000 | + 100 | 19,900 | 20,900 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 21,300 | 21,200 | 21,400 | 0 | 21,000 | 21,600 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 20,300 | 20,200 | 20,400 | + 100 | 20,300 | 21,300 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 18,100 | 18,000 | 18,200 | – 200 | 18,500 | 21,500 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 19,600 | 19,500 | 19,700 | 0 | 19,400 | 20,350 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,700 | 19,600 | 19,800 | + 100 | 19,700 | 20,400 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 20,600 | 20,500 | 20,700 | 0 | 20,500 | 21,000 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 35,600 | 35,500 | 35,700 | – 100 | 35,100 | 35,700 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 32,500 | 32,400 | 32,600 | 0 | 32,200 | 33,500 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 31,800 | 31,700 | 31,800 | + 100 | 31,300 | 32,300 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 32,550 | 32,500 | 32,600 | – 50 | 31,950 | 32,800 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 34,800 | 34,700 | 34,900 | – 100 | 34,100 | 35,300 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 35,700 | 35,600 | 35,800 | 0 | 35,500 | 34,500 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 33,700 | 33,800 | 33,900 | 0 | 33,700 | 34,800 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 36,200 | 36,000 | 36,400 | – 100 | 35,800 | 36,500 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 32,700 | 32,600 | 32,800 | – 100 | 32,600 | 33,900 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 32,300 | 32,200 | 32,400 | – 100 | 32,200 | 32,900 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 33,100 | 33,000 | 33,200 | – 100 | 32,800 | 33,600 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 35,000 | 34,900 | 35,100 | – 200 | 34,300 | 35,500 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 36,200 | 36,100 | 36,300 | 0 | 36,000 | 35,000 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 34,000 | 33,900 | 34,100 | 0 | 34,000 | 35,000 | |
| TMT | Ex-Delhi/NCR | 12MM | 38,900 | 38,700 | 39,100 | 0 | 38,000 | 39,100 |
| Ex-Durgapur | 12MM | 37,800 | 37,600 | 38,000 | 0 | 37,400 | 38,300 | |
| Ex-Raipur | 12MM | 36,900 | 36,700 | 37,100 | – 100 | 36,800 | 37,000 | |
| Ex-Mumbai | 12MM | 38,800 | 38,400 | 38,900 | 0 | 37,800 | 39,200 | |
| Ex-Chennai | 12MM | 41,000 | 40,800 | 41,200 | 0 | 41,000 | 39,600 | |
| Ex-Hyderabad | 12MM | 39,500 | 39,300 | 39,700 | 0 | 39,500 | 40,500 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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