Indian Semis market observed subdued inquiries resulting volatility in prices. As per SteelMint assessment, Billet price fluctuated by INR 100-300/MT, while Sponge offers fell by INR 100-200/MT, day-on-day.
The latest price assessment for induction furnaces billet in Indian market stood at INR 35,200-39,400/MT (USD 526-590) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 19,600-22,900/MT (USD 294-343); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 4th May 2018 (Friday) INR to USD exchange rate stood at INR 66.80
— BSE Sensex closed at 34,915(-187) on Friday, as against last day (Thursday) at 35,103(-73).
Raw materials
— OMC to auction 370,000 MT iron ore fines, base prices for Koira mines down by INR 200/MT
— IDCOL has issued three different tenders for tentative sale of 15,800 MT iron ore from its Roida ‘C’ iron and manganese mines, Keonjhar (Odisha). The due date for bid submission is 9th May’18.
— JSW Steel’s iron ore purchases from Karnataka e-auctions stood at 0.62 MnT in Apr’18 down by 63% M-o-M compared to 1.67 MnT in Mar’18
— NMDC’s iron ore sales decreased sharply by 86% M-o-M to 0.19 MnT in Apr’18 compared to 1.39 MnT in Mar’18
Semi finished
— Raipur, Central India based Integrated plants offering Sponge P-DRI at INR 20,300/MT & Sponge DR CLO grade by medium size plants at INR 23,400-23,600/MT ex-plant.
— Raigarh based Singhal Steel offered P-DRI at INR 19,700/MT ex-plant, an official reported. Also, the company is offering Billet at INR 35,800/MT, FoR Raipur.
— Odisha based sponge manufacturer sold FeM 80 C-DRI lumps to Jalna (Maharashtra) at INR 21,500/MT; ex-plant.
— BMM Ispat in South India has kept offers firm and reported FeM 80 P-DRI at INR 18,600-18,700/MT ex-Bellary, Karnataka.
— Apple Industries in Bellary (Karnataka) sold billet at INR 35,500/MT ex-plant. Majorly deals concluded for Bangalore & Chennai, an official reported.
— As per sources, SAIL’s IISCO offering Steel grade pig iron at around INR 31,400/MT (USD 476) ex-plant, Burnpur, East India. However, the private producers in same place and same grade material offering at INR 32,500-33,000/MT. Both prices excluding GST at 18%.
— Temporary power supply halts in industrial hub – Mandi Gobindgarh, Punjab due to grid fails. As per manufacturers due to power crisis Ingot/billet production affected which led to shortage of ready delivery materials.
Finish Long
— Rathi Steels in North India – Delhi has unchanged their prices d-o-d basis and offering 12 mm rebars at INR 43,500/MT, excluding 18% GST.
— The suppliers in Raipur have slightly reduced trade discount on Wire rod amid improved sentiments, size – 5.5 MM by around INR 800-1,000/MT.
— Gujarat based Vinayak TMT offering basic rebar at INR 48,000/MT FoR & including GST at 18%, Size – 20 mm.
— Raipur Power and Steel Ltd have offered Wire Rod (5.5 MM) at INR 40,700/MT, ex-mill & excluding GST.
— South Region based, DRA Industries Ltd. offering Billet at INR 37,000/MT, ex–work & excluding GST.
— Jalna based rebar manufacturer – SRJ Peety Steels Pvt Ltd branding Shree Om TMT increased prices by INR 300/MT on day basis and offering 28mm rebar at INR 38,800/MT, ex-work & excluding GST.
— East region based – Baba Smelter Pvt. Ltd has offered basic Structure 150 Channel at INR 41,500/MT, ex-work & excluding GST.
Reference prices as on 4th May 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Chennai | HMS(80:20) | 26,300 | 26,200 | 26,400 | + 100 | 26,300 | 25,700 |
| Ex-Mumbai | HMS(80:20) | 26,900 | 26,800 | 27,000 | + 100 | 26,300 | 25,600 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 22,900 | 22,800 | 23,000 | – 100 | 22,400 | 20,000 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 21,100 | 21,000 | 21,200 | – 100 | 21,000 | 20,300 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 22,300 | 22,200 | 22,400 | – 100 | 22,200 | 21,500 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,600 | 19,500 | 19,700 | + 100 | 19,900 | 20,500 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 21,500 | 21,400 | 21,600 | 0 | 20,900 | 18,500 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 20,300 | 20,200 | 20,400 | – 100 | 20,000 | 19,900 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 18,800 | 18,600 | 19,000 | + 100 | 19,100 | 19,800 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 19,300 | 19,200 | 19,400 | – 100 | 19,900 | 20,700 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 38,700 | 38,600 | 38,800 | + 300 | 38,000 | 36,350 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 36,300 | 36,200 | 36,400 | – 100 | 36,000 | 33,500 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 34,800 | 34,700 | 34,900 | – 200 | 34,800 | 32,300 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 34,800 | 34,700 | 34,900 | 0 | 34,800 | 32,950 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 36,200 | 36,100 | 36,300 | – 400 | 36,000 | 35,300 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 36,500 | 36,400 | 36,600 | 0 | 36,500 | 36,000 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 35,700 | 35,600 | 35,800 | – 300 | 36,200 | 34,200 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 39,400 | 39,300 | 39,500 | + 300 | 38,700 | 37,000 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 36,900 | 36,800 | 37,000 | + 100 | 36,500 | 34,000 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 35,600 | 35,500 | 35,700 | – 200 | 35,200 | 32,800 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 35,750 | 35,700 | 35,800 | – 50 | 35,800 | 33,600 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 36,800 | 36,700 | 36,900 | – 300 | 36,400 | 35,500 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 37,000 | 37,000 | 37,300 | 0 | 37,000 | 36,500 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 36,000 | 35,900 | 36,100 | – 250 | 36,500 | 34,500 | |
| TMT | Ex-Delhi/NCR | 12MM | 42,200 | 42,100 | 42,400 | 0 | 41,300 | 39,700 |
| Ex-Durgapur | 12MM | 41,300 | 41,100 | 41,500 | – 200 | 40,500 | 38,500 | |
| Ex-Raipur | 12MM | 39,600 | 39,400 | 39,800 | 0 | 39,600 | 37,200 | |
| Ex-Mumbai | 12MM | 40,900 | 40,500 | 41,000 | 0 | 40,100 | 39,000 | |
| Ex-Chennai | 12MM | 41,200 | 41,000 | 41,400 | 0 | 40,800 | 41,000 | |
| Ex-Hyderabad | 12MM | 40,500 | 40,300 | 40,700 | – 250 | 41,000 | 39,500 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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