On daily basis, domestic Semi finished prices decline further as weak demand continuous. In fresh update, the prices seen fall – Sponge by INR 100-200/MT & Billet by INR 200-500/MT, day-on-day.
The Billet producers in West & South India who largely exports, reported poor inquiries from South East Nations, hence they are forced to deal with domestic buyers on lower prices.
As per one of the largest Billet producer in Gujarat – West India, today offer for domestic buyer reduced about INR 400/MT to INR 33,000-33,200/MT, however no major bookings received. As per him local Billet prices to remain under pressure as inquiries are limited from the both domestic & global buyers.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 31,000-34,800/MT (USD 451-507) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 19,300-21,700/MT (USD 281-316); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 18th July 2018 (Wednesday) INR to USD exchange rate stood at INR 68.60
— BSE Sensex closed at 36,373(-146) on Wednesday, as against last day (Tuesday) at 36,519(+196)
Key updates
— Indian pellet export prices of regular grade Fe 64% Pellet has increased further by USD 2-3/MT W-o-W to USD 120-121/MT, CFR China.
— According to the latest assessment of Coking coal, spot prices of the Premium HCC, Australia have decreased by around USD 19/MT W-o-W & assessed at USD 194.75/MT CNF India
— MMTC, India’s largest and state owned trading house, has floated export tender of 10,000 MT non-alloy Pig Iron on behalf of Neelachal Ispat Nigam Limited (NINL). The due date for submission of bids is 26 July’18.
— Indian induction grade billet (100*100mm size) export offers to Nepal are reported at USD 465/MT (ex-mill at West Bengal), equivalent to USD 490/MT CFR Nepal (Raxaul border).As per participants more than 5,000 MT Billets have been booked in last 2 days.
— Raipur, Central India based Integrated plants offering Sponge P-DRI at INR 19,800-20,000/MT & Sponge DR CLO grade at INR 22,600-22,800/MT ex-plant
— Sources reported, few Raipur based furnace owners are buying FeM 80 C-DRI from Odisha at around INR 22,000/MT on FoR basis.
— Odisha based market participant reported an exporter purchased billets at INR 31,600/MT ex-Plant.
— Central India, Raigarh based smelters selling Ingot & billet to Raipur at INR 31,200/MT & INR 31,700-31,800/MT respectively on FoR basis.
— BIOP Steels in South India has offered FeM 80 & 82 C-DRI lumps at INR 19,400/MT & INR 19,800/MT ex-plant, Karnataka; an official reported.
— South India based Cauvery Iron & Steel offers FeM 80 P-DRI at INR 19,000/MT & & Billet at INR 33,500/MT. Also offering 28 mm Rebars at INR 35,500/MT. prices are ex-plant & excluding GST.
Reference prices as on 18th July 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Mumbai | HMS(80:20) | 24,500 | 24,400 | 24,600 | 0 | 24,400 | 26,100 |
| Ex-Chennai | HMS(80:20) | 22,800 | 22,700 | 22,900 | – 400 | 23,500 | 25,800 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 20,400 | 20,300 | 20,500 | – 50 | 20,900 | 23,200 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 20,700 | 20,600 | 20,800 | – 50 | 20,800 | 21,000 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 21,700 | 21,600 | 21,800 | 0 | 21,300 | 21,700 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,300 | 19,200 | 19,400 | 0 | 19,100 | 20,400 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 19,200 | 19,100 | 19,300 | – 250 | 19,800 | 22,200 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 19,900 | 19,800 | 20,000 | – 50 | 19,500 | 19,750 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 18,600 | 18,500 | 18,700 | 0 | 18,300 | 19,600 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 19,100 | 19,000 | 19,200 | 0 | 18,800 | 20,100 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 34,300 | 34,200 | 34,400 | – 450 | 34,700 | 39,400 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 31,200 | 31,100 | 31,300 | – 300 | 31,900 | 36,500 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 30,700 | 30,600 | 30,800 | – 300 | 31,000 | 35,900 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 31,000 | 30,900 | 31,100 | – 400 | 31,300 | 35,100 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 31,850 | 31,800 | 31,900 | – 450 | 31,700 | 36,400 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 33,800 | 33,700 | 33,900 | – 200 | 34,000 | 34,800 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 33,200 | 33,100 | 33,300 | – 500 | 33,700 | 35,200 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 34,800 | 34,700 | 34,900 | – 400 | 35,200 | 39,800 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 31,700 | 31,600 | 31,800 | – 300 | 32,400 | 37,000 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 31,500 | 31,400 | 31,600 | 0 | 31,900 | 36,200 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 31,700 | 31,600 | 31,800 | – 400 | 32,000 | 36,200 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 32,200 | 32,100 | 32,300 | – 500 | 32,000 | 36,600 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 34,300 | 34,200 | 34,500 | – 200 | 34,500 | 35,300 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 33,500 | 33,400 | 33,600 | – 500 | 34,000 | 35,500 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 38,800 | 38,600 | 38,900 | – 400 | 39,700 | 44,400 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 36,100 | 35,900 | 36,300 | – 200 | 37,100 | 41,500 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 35,700 | 35,600 | 35,800 | 0 | 36,700 | 40,500 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 36,100 | 35,700 | 36,200 | – 300 | 37,000 | 40,200 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 39,200 | 39,000 | 39,400 | – 200 | 39,500 | 40,400 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 38,000 | 37,500 | 38,000 | -500 | 38,500 | 40,000 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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