Today, Indian Sponge iron prices marginally fluctuates by INR 100/MT amid average inquiries. However, thin trades in finished long steel products resulted price corrections in Billet by INR 100-300/MT, day-on-day.
The re-rollers in major markets reported slow down in domestic inquiries, thus they have postponed bulk bookings for raw materials.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 36,500-40,600/MT (USD 545-607) ex-plant. Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 20,400-22,700/MT (USD 305-339); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 6th June 2018 (Wednesday) INR to USD exchange rate stood at INR 66.90
— BSE Sensex closed at 35,178(+275) on Wednesday, as against last day (Tuesday) at 34,903(-108)
Raw material
— Jindal Steel & Power (JSPL) has recently concluded a pellet export deal to China for 50,000 MT. As per sources the deal has been concluded at around USD 97/MT, FoB to China
— NMDC witnessed an increase in total iron ore sales for the month of May’18 to 2.31 MnT, up 4% M-o-M as compared to 2.22 MnT in Apr’18.
— Indian coal shipments from South Africa have increased 16% in Apr’18 & stood at 3.41 MnT against 2.94 MnT in Mar’18
Semi finished
— Neelachal Ispat manages to book around 25,000 MT Pig Iron at revised prices – Sources.
— Jharkhand Ispat based in Ramgarh has offered Sponge C-DRI lumps (FeM 78) at INR 22,200/MT, P-DRI (FeM 80) at INR 20,000/MT & Billet at INR 37,800-38,000/MT ex-plant. As per official, inquiries slowdown down today however yesterday it was good.
— Raipur, Central India based Integrated plants offer unaltered, offering Sponge P-DRI at INR 20,300-20,500/MT & Sponge DR CLO grade at INR 23,200-23,400/MT ex-plant
— Punjipatra, Raigarh based steel manufacturers are still facing problems of power supply by JSPL. The plants are receiving power of about 8 hrs per day.
— Govindam Sponge, an Odisha based plant offered FeM 80 sponge mix material at INR 21,400-21,500/MT & fines at INR 20,900/MT ex-plant; trade activities are firm at these offers.
— BIOP Steels in South India has offered FeM 80 & 82 C-DRI lumps at INR 20,400/MT & INR 20,800/MT ex-plant, Karnataka; an official reported.
— Indian induction grade billet prices hit an all time high according to data maintained by SteelMint (from the year 2010).
— Punjab – Ludhiana selling Ingot (low carbon) to Mandi Gobindgarh and the freight cost reported around INR 200/MT.
— Durgapur based steel mills concludes induction grade billet export deals to Nepal at around USD 550-555/MT ex-mill.
Finish Long
— North Region based Rathi Steels have unchanged their prices d-o-d basis and offering 12-25 mm Rebars at INR 45,500/MT, excluding 18% GST.
— Mumbai, Maharashtra based Guardian TMT have unchanged their RebarS price today and offering 12mm at INR 41,300/MT ex-work & excluding GST & SRMM (Ghasiram) structure prices also remains stable on day trade activities.
— Raipur, Central India based Fortune Metaliks (Fortune TMT) offers 12mm Rebars at INR 43,200/MT ex-work & excluding GST.
— The suppliers in Raipur have maintained trade discount on Wire rod at around INR 1,000/MT, size – 5.5mm.
Reference prices as on 6th June 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Mumbai | HMS(80:20) | 27,500 | 27,400 | 27,600 | 0 | 27,600 | 27,000 |
| Ex-Chennai | HMS(80:20) | 26,400 | 26,300 | 26,500 | 0 | 26,700 | 26,400 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 22,700 | 22,600 | 22,800 | 0 | 22,000 | 22,000 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 21,200 | 21,100 | 21,300 | + 100 | 20,800 | 20,900 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 22,200 | 22,100 | 22,300 | – 100 | 21,750 | 21,700 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 20,400 | 20,300 | 20,500 | 0 | 20,500 | 19,700 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 21,300 | 21,200 | 21,400 | – 50 | 20,500 | 20,600 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 20,300 | 20,200 | 20,400 | 0 | 19,650 | 19,500 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,800 | 19,700 | 19,900 | 0 | 19,800 | 18,700 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 20,400 | 20,300 | 20,500 | – 100 | 20,400 | 19,100 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 39,650 | 39,600 | 39,700 | – 150 | 38,900 | 37,600 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 36,900 | 36,800 | 37,000 | – 100 | 36,500 | 35,000 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 36,200 | 36,100 | 36,300 | – 200 | 36,000 | 34,100 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 36,150 | 36,100 | 36,200 | – 250 | 36,050 | 33,600 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 37,200 | 37,100 | 37,300 | – 100 | 36,800 | 36,200 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 36,000 | 35,900 | 36,100 | 0 | 36,300 | 36,500 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 36,200 | 36,100 | 36,300 | – 300 | 35,700 | 34,700 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 40,300 | 40,200 | 40,500 | – 200 | 39,700 | 38,300 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 37,350 | 37,300 | 37,400 | – 150 | 37,000 | 35,500 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 36,800 | 36,700 | 36,900 | – 100 | 36,400 | 34,900 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 37,300 | 37,200 | 37,400 | – 300 | 37,150 | 35,000 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 37,400 | 37,300 | 37,400 | – 150 | 37,100 | 36,800 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 36,500 | 36,400 | 36,600 | 0 | 36,700 | 37,000 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 36,500 | 36,400 | 36,600 | – 250 | 36,000 | 35,000 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 44,600 | 44,400 | 44,800 | 0 | 44,300 | 41,300 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 42,000 | 41,800 | 42,200 | – 300 | 41,600 | 40,400 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 41,800 | 41,600 | 42,000 | – 100 | 41,600 | 39,000 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 41,300 | 40,900 | 41,400 | 0 | 40,700 | 40,600 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 41,000 | 40,800 | 41,200 | 0 | 41,000 | 41,400 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 41,000 | 40,800 | 41,200 | 0 | 40,500 | 39,500 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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