In the week opening, Indian Semis prices volatile amid limited trade activities.
As per assessment, the prices of Sponge iron & Billet have declined by INR 100-300/MT in Central region, however in East & Western India it surge in same proportion. Further in South region the producers have maintained offers firm amid average inquiries.
The industry participants stated, “spot trades were thin during the day, than the last week-end.”
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 35,600-39,300/MT (USD 523-584) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 20,400-23,500/MT (USD 300-346); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 18th June 2018 (Monday) INR to USD exchange rate stood at INR 68.04
— BSE Sensex closed at 35,548(-73) on Monday, as against last day (Friday) at 35,622(+22)
Raw material
— Southern India based pellet maker- X India Steels Ltd is to resume production after facing closure of almost 2.5 years. And the company will resume production from Jul’18- Sources.
— Bellary, Karnataka (South India) based pellet makers decreased prices at INR100/MT to INR 6,600-6,700/MT.
— Melting scrap offers in Western India- Gujarat & Maharashtra incline by INR 200-500/MT in a day trade activities
Semi finished
— As per a big producer in Raipur – Central India a rake of Sponge P-DRI have been booked for North India – Mandi Gobindgarh on 16th June. The deal price by the manufacturer reported at INR 20,000/MT ex-mill & loaded to wagon.
— In a day, 20% (5 hrs) Power supply continues by Jindal for Punjipathra, Raigarh based steel mills, the manufacturers reported.
— Durgapur based Neo Metaliks has reported latest offers for steel grade Pig iron at around INR 29,600/MT against last deals at INR 29,800/MT ex-plant
— Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 21,000/MT & billet at INR 36,000/MT ex-plant.
— BMM Ispat a price trend setter in South Indian sponge market has kept offers unaltered today and offering FeM 80 P-DRI lumps at INR 19,500-19,600/MT ex-Bellary, Karnataka.
— BIOP Steels in South India has increased sponge offers by around INR 100/MT, offering FeM 80 & 82 C-DRI lumps at INR 20,100/MT & INR 20,500/MT ex-plant, Karnataka; an official reported.
Finish Long
— SAIL has invited a tender for purchase of 36,734 MTR G I Pipes of different sizes from reputed indigenous manufacturers at Bhilai Steel Plant. The due date for submission of bids is 28 Jun’18
— As per participants – SAIL has reduced its wire rod export offers to Nepal by about USD 25/MT and the latest price for grade – SAE 1008, size 6-8mm reported at around USD 610-615/MT ex-mill, West Bengal (East India) which is equivalent to USD 630-635/MT CFR Raxaul Border(Nepal).
— Shakti Ferro Alloys in Chennai, South Region has offered Rebar at INR 40,000/MT (12 mm) & Billet at INR 35,000/MT with advance payment term, ex-work & excluding GST.
— The suppliers in Raipur have slightly increased their trade discount on Wire rod by around INR 400/MT to INR 1,400-1,500/MT due to slow buying inquiries, size – 5.5 MM.
— East Region based – Shakambhari Ispat & Power Ltd has offered Wire Rod 5.5 mm at INR 42,200/MT, ex-work & excluding GST.
— Jalna based rebar manufacturer – SRJ Peety Steels Pvt Ltd branding Shree Om TMT has decrease their prices by INR 100/MT on day basis and offering basic Rebar at INR 38,500/MT, ex-work & excluding GST.
— Raipur Power and Steel Ltd offering Wire Rod (5.5 MM) at INR 42,200/MT, Raw Pellet – INR 6,100/MT, Sponge P-DRI at INR 20,200/MT & Silico Manganese at INR 63,500/MT, ex-mill & excluding GST.
Reference prices as on 18th June 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Mumbai | HMS(80:20) | 26,100 | 26,000 | 26,200 | + 300 | 26,000 | 27,600 |
| Ex-Chennai | HMS(80:20) | 26,100 | 26,000 | 26,200 | + 200 | 26,400 | 26,600 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 23,500 | 23,400 | 23,600 | + 200 | 23,300 | 21,700 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 21,000 | 20,900 | 21,100 | – 100 | 20,800 | 20,800 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 21,900 | 21,800 | 22,000 | – 100 | 21,900 | 21,750 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 20,400 | 20,300 | 20,500 | + 300 | 20,200 | 20,200 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 22,300 | 22,200 | 22,400 | + 200 | 21,900 | 20,300 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 20,000 | 19,900 | 20,100 | 0 | 19,750 | 19,600 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,600 | 19,500 | 19,700 | + 100 | 19,600 | 19,300 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 20,200 | 20,100 | 20,300 | 0 | 20,200 | 20,000 | |
| Ingot | Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 36,800 | 36,700 | 36,900 | + 300 | 36,200 | 35,700 |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 36,000 | 35,900 | 36,100 | + 200 | 35,500 | 34,700 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 35,850 | 35,800 | 35,900 | – 150 | 34,500 | 35,000 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 36,600 | 36,500 | 36,700 | 0 | 35,800 | 36,000 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 35,000 | 34,900 | 35,100 | 0 | 35,300 | 35,500 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 35,700 | 35,600 | 35,800 | 0 | 34,700 | 35,500 | |
| Billet | Ex-Durgapur | 125×125 mm, IS 2831 | 37,200 | 37,100 | 37,400 | + 300 | 36,700 | 36,300 |
| Ex-Rourkela | 125×125 mm, IS 2831 | 36,200 | 36,100 | 36,300 | + 100 | 36,100 | 35,300 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 36,800 | 36,700 | 36,900 | – 200 | 35,900 | 36,200 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 36,800 | 36,700 | 36,800 | 0 | 36,000 | 36,500 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 35,500 | 35,400 | 35,600 | 0 | 35,800 | 36,000 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 36,000 | 35,900 | 36,100 | 0 | 35,000 | 35,750 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 43,800 | 42,600 | 44,000 | 0 | 44,000 | 41,800 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 41,400 | 41,200 | 41,600 | 0 | 41,200 | 40,800 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 41,100 | 40,900 | 41,300 | – 200 | 41,000 | 40,000 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 40,200 | 39,800 | 40,300 | 0 | 40,000 | 40,400 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 40,800 | 40,600 | 41,000 | 0 | 41,000 | 40,800 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 40,500 | 40,300 | 40,700 | 0 | 39,500 | 40,000 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
Leave a Reply