Indian Semi finished market reported mix trends as prices of Sponge iron fell by INR 100-200/MT while billet market registered volatility in the range of INR 100-500/MT, according to SteelMint daily assessment. The trade inquiries was poor in the opening hours, however by the end of day it get improved.
SteelMint’s price assessments for induction furnaces billet size 125×125 mm are reported at INR 32,700-36,200/MT (USD 501-555) ex-plant.
Further the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 20,300-21,600/MT (USD 311-331); prices are ex-plant & excluding GST.
On 19th Mar 2018 (Monday) INR to USD exchange rate stood at INR 65.23 & BSE Sensex closed at 32,923(-252).
Key Market Updates:
1. SAIL has recently concluded the tender of 13,500 MT billet at around USD 540-545/MT, FoB Haldia port, which was USD 10/MT higher than previous tender concluded by Vizag Steel.
2. Durgapur, East India based private Pig iron producers have offered steel grade Pig iron at INR 28,500-28,700/MT ex-plant, down by INR 500/MT against offers during last week.
3. Raipur, Central India based Integrated plants offer unaltered, offering Sponge P-DRI at around INR 20,000/MT & Sponge DR CLO grade at INR 22,000-22,200/MT ex-plant
4. Odisha based medium size sponge manufacturers reported firm offers amid not major trade activities; FeM 80 C-DRI (70:30 mix material) at INR 20,400-20,500/MT ex-plant & excluding GST.
5. BIOP Steel in South India has offered FeM 80 & 82 C-DRI lumps at INR 20,800/MT & INR 21,3000/MT ex-plant, Karnataka; an official reported.
6. Hyderabad, South India based steel manufacturers increased billet offers by INR 500/MT to INR 35,000/MT. Also offering FeM 80 P-DRI & 28 MM Rebar at INR 20,800/MT & INR 37,500/MT. prices are ex-plant & excluding GST.
7. Local manufacturers in Raigarh are offering 60-14 Silico Manganese at around INR 70,000/MT ex-plant & excluding GST
8. Trade discount in Raipur for Wire Rod unchanged to INR 600-800/MT and demand existence doesn’t bring any major amendments as per trade participants.
9. Finish Long Imports noticed steep rise in Feb’18 by 150% as it has been registered at 50,000 MT against 20,000 MT in Jan’18. Under Finish Long commodities following HS Codes has been considered – Bar & Rod (HS Code 7213 & 7214), MS Wire (HS Code 7217) along with Angle & Shapes (HS Code 7215 & 7216).
10. South based region Tulsyan NEC Steel (Tulsyan) based in Chennai has unchanged their price & current offering 12mm Rebars at INR 42,000/MT, ex-plant & excluding GST.
11. Raipur Power and Steel Ltd offering Wire Rod (5.5 MM) at INR 38,600/MT, ex-Mill & excluding GST.
12. Shakti Ferro Alloys in Chennai, South Region has offered Billet at INR 36,000/MT, ex-work & excluding GST.
Reference prices as on 19th March 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 21,300 | 21,200 | 21,400 | – 100 | 21,600 | 21,900 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 20,500 | 20,400 | 20,600 | 0 | 20,500 | 20,500 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 21,600 | 21,500 | 21,700 | 0 | 21,600 | 21,300 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 21,000 | 20,900 | 21,100 | 0 | 21,000 | 20,900 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 20,000 | 19,900 | 20,000 | – 200 | 20,500 | 20,800 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 20,000 | 19,900 | 20,100 | 0 | 19,900 | 20,000 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 20,200 | 20,100 | 20,300 | 0 | 20,200 | 20,200 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 20,700 | 20,600 | 20,800 | – 100 | 20,700 | 20,900 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 35,500 | 35,400 | 35,600 | + 400 | 34,800 | 35,500 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 32,900 | 32,800 | 33,000 | + 100 | 32,700 | 32,400 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 31,700 | 31,600 | 31,800 | + 100 | 31,500 | 31,300 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 32,300 | 32,200 | 32,400 | + 100 | 31,950 | 32,300 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 34,200 | 34,100 | 34,300 | – 600 | 34,100 | 34,800 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 35,500 | 35,000 | 35,500 | 0 | 36,000 | 34,500 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 34,700 | 34,500 | 34,800 | + 400 | 33,800 | 33,800 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 36,200 | 36,100 | 36,300 | + 200 | 35,700 | 36,300 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 33,200 | 33,100 | 33,300 | – 100 | 33,400 | 32,900 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 32,700 | 32,600 | 32,800 | + 100 | 32,500 | 32,000 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 33,200 | 33,100 | 33,300 | 0 | 32,900 | 32,900 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 34,400 | 34,300 | 34,400 | – 600 | 34,300 | 35,000 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 36,000 | 35,900 | 36,100 | 0 | 36,500 | 35,000 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 35,000 | 34,800 | 35,000 | + 500 | 34,000 | 34,000 | |
| TMT | Ex-Delhi/NCR | 12MM | 38,800 | 38,600 | 39,000 | + 100 | 38,300 | 38,200 |
| Ex-Durgapur | 12MM | 38,000 | 37,800 | 38,200 | – 200 | 38,000 | 37,000 | |
| Ex-Raipur | 12MM | 37,400 | 37,200 | 37,600 | + 100 | 36,400 | 36,400 | |
| Ex-Mumbai | 12MM | 38,200 | 37,800 | 38,300 | – 300 | 38,000 | 39,500 | |
| Ex-Chennai | 12MM | 41,000 | 40,900 | 41,500 | + 300 | 40,500 | 39,000 | |
| Ex-Hyderabad | 12MM | 40250 | 40000 | 40500 | + 250 | 39,800 | 39,200 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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