Today, Indian Semis market observed subdued inquiries resulting volatility in prices. As per SteelMint assessment, the prices fluctuated of Billet by INR 100-400/MT and Sponge iron by INR 100-200/MT, day-on-day.
The Industry participants in Central & Eastern India mentioned that, inquiries was slowdown during the 1st half, however by end of day it get improved.
The latest price assessment for induction furnaces billet in Indian market stood at INR 35,000-38,600/MT (USD 523-578) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 19,800-22,000/MT (USD 296-329); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 26th Apr 2018 (Thursday) INR to USD exchange rate stood at INR 66.77
— BSE Sensex closed at 34,713(+212) on Thursday, as against last day (Wednesday) at 34501(-115).
Raw materials
— East India based a pellet maker has recently concluded 50,000 MT pellet exports deal at USD 109/MT, CFR China for which shipment are scheduled towards early May’18 – Sources.
— The total crude steel production of 66 steel manufacturing countries moved up by 4% in Q1 CY18 to 426.55 MnT as against 408.53 MnT in similar quarter of previous years – as per WSA.
— Melting scrap offers in Western India- Gujarat fall by INR 300/MT in a day trade activities.
Semi finished
— Indian sponge iron export offers to Bangladesh for lumps of grade FeM 78-80, assessed at USD 365-370/MT CPT Benapole (dry land port of Bangladesh & India) and USD 385-390/MT CFR Chittagong, Bangladesh. Although, no fresh deals have been reported through the export sources.
— Jharkhand’s major Sponge iron producer – Jharkhand Ispat has offered Sponge C-DRI lumps (FeM 80) at INR 21,700/MT, ex-plant & excluding GST. The group has installed capacity of Sponge iron about 0.3 MnT annually and largely deals with North-east & Western India based Inductions.
— Raipur, Central India based Integrated plants offer unaltered, offering Sponge P-DRI at INR 19,800-20,00/MT ex-plant
— As per Ingot/Billet manufacturers in Jindal’s punjipatra-Raigarh area (Central India), power supply have been improved to 16-18 hrs from earlier about 8-10 hrs per day.
— Central India based Monnet Ispat sold 500-600 ton C-DRI at INR 21,000/MT ex-plant, Raigarh, an official reported.
— Durgapur based Neo Metaliks has reported latest offers for steel grade Pig iron at around INR 32,000/MT & Foundry grade at INR 33,000/MT, ex-plant.
— RSP (Rourkela Steel Plant) tender held today ( 26th Apr’18) to sell about 4,800 MT steel grade pig iron have received good response. The base price of the tender was at INR 30,500/MT and the total quantity have been sold out.
Finish Long
— Rathi Steels in North India – Delhi have increased their prices by around INR 300/MT today and offering 12 mm Rebars at INR 42,500/MT, excluding GST.
— The suppliers in Raipur have slightly reduce trade discount on Wire rod (5.5m) to INR 800-1,000/MT against a day ago at INR 1,000-1,200/MT. The purchase inquiries better today, as per manufacturers.
— Shakti Ferro Alloys in Chennai, South Region has offered Rebar at INR 41,000/MT (12 mm) & Billet at INR 36,500/MT, ex-work & excluding GST.
— South Region Based – VRKP Steel Industry Pvt Ltd – VRKP tmt offering Rebars at INR 51,200/MT (8 mm), ex-work & including GST.
— Gujarat Based, Keyur Ispat Ltd offering 20 mm Rebars at INR 47,700/MT FoR & including GST at 18%.
— Gujarat based Akshar TMT has offered 20 mm Rebars at INR 48,000/MT FoR & including GST at 18%. As per market sources demand is slow as the price is hovering in the same level from last week & anticipates minor amendment likely to appear.
Reference prices as on 26th April 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Mumbai | HMS(80:20) | 26,100 | 26,000 | 26,200 | + 100 | 26,200 | 25,200 |
| Ex-Chennai | HMS(80:20) | 26,300 | 26,200 | 26,300 | 0 | 26,300 | 25,600 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 22,000 | 21,900 | 22,100 | + 100 | 21,600 | 20,000 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 20,900 | 20,800 | 21,000 | – 100 | 20,900 | 20,000 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 22,000 | 21,900 | 22,100 | 0 | 22,000 | 21,200 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,800 | 19,700 | 19,900 | – 100 | 20,500 | 20,000 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 20,600 | 20,500 | 20,700 | + 100 | 20,400 | 18,700 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 19,900 | 19,800 | 20,000 | 0 | 19,800 | 19,550 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,000 | 18,900 | 19,100 | 0 | 19,500 | 19,500 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 19,900 | 19,800 | 20,000 | 0 | 20,800 | 20,300 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 38,000 | 37,900 | 38,100 | + 300 | 37,400 | 35,750 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 35,600 | 35,500 | 35,700 | + 100 | 35,000 | 32,600 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 34,600 | 34,500 | 34,700 | 0 | 34,400 | 31,600 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 34,600 | 34,500 | 34,700 | – 50 | 34,650 | 32,250 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 36,100 | 36,000 | 36,200 | – 200 | 36,000 | 34,300 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 36,500 | 36,400 | 36,600 | 0 | 36,600 | 35,200 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 36,200 | 36,100 | 36,300 | 0 | 36,700 | 33,700 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 38,600 | 38,500 | 38,800 | + 200 | 38,000 | 36,400 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 36,100 | 36,000 | 36,100 | + 100 | 35,300 | 32,900 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 35,000 | 34,900 | 35,100 | 0 | 34,800 | 32,200 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 35,600 | 35,500 | 35,700 | + 100 | 35,300 | 33,000 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 36,300 | 36,200 | 36,400 | – 200 | 36,200 | 34,500 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 37,000 | 37,000 | 37,300 | 0 | 37,000 | 35,700 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 36,500 | 36,300 | 36,700 | 0 | 37,000 | 34,000 | |
| TMT | Ex-Delhi/NCR | 12MM | 41,200 | 41,000 | 41,400 | 0 | 40,800 | 38,300 |
| Ex-Durgapur | 12MM | 40,300 | 40,100 | 40,500 | 0 | 39,800 | 37,700 | |
| Ex-Raipur | 12MM | 39,400 | 39,200 | 39,600 | + 100 | 39,200 | 37,000 | |
| Ex-Mumbai | 12MM | 40,100 | 39,700 | 40,200 | 0 | 39,800 | 38,000 | |
| Ex-Chennai | 12MM | 40,800 | 40,600 | 41,000 | – 200 | 41,300 | 40,800 | |
| Ex-Hyderabad | 12MM | 41,000 | 40,800 | 41,200 | 0 | 41,500 | 39,000 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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