Today, Indian Sponge iron & Billet prices slump about INR 200-500/MT (USD 3-7) on less inquiries, as reported by market participants. The prices fall majorly in Central, East & Western regions, however in South India the producers have maintain prices.
According to market participants Semis prices are less likely to gain further as the demand of finished products has become dull now.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 32,300-36,000/MT (USD 468-522) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 20,200-23,200/MT (USD 292-336); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 10th August 2018 (Friday) INR to USD exchange rate stood at INR 68.89
— BSE Sensex closed at 37,869(-155) on Friday, as against last day (Thursday) at 38,024(+136).
Raw material
— Bhushan Steel iron ore procurement in July’18 witnessed at 0.48 MnT, up 50% M-o-M as against 0.32 MnT in June’18.
— Melting scrap offers in Western India- Gujarat fall by INR 300/MT in a day trade activities.
Semi finished
— As per sources, an Indian state owned steel maker has concluded a export tender of 18,900 MT billet for 125*125mm and 150*150mm at around USD 505-510/MT, FoB levels.
— Domestic Steel grade Pig iron prices stood at around INR 29,200-29,400/MT ex-Durgapur (West Bengal) & INR 29,200-29,400/MT ex-Raipur. The prices are excluding 18% GST.
— Raipur, Central India based Integrated plants offering Sponge P-DRI at INR 21,600-21,800/MT & Sponge DR CLO grade at INR 23,900-24,000/MT ex-plant.
— In West Bengal – Durgapur, big manufacturers have decreased sponge prices by INR 300-400/MT D-o-D; offering P-DRI at INR 21,900-22,000/MT.
— Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 21,600-21,700/MT & Billet at INR 32,500-32,600/MT ex-plant.
— Raigarh based Singhal Steel offered P-DRI at INR 20,900/MT ex-Raigarh, an official reported. Also, the company is offering Billets at INR 33,000/MT FoR Raipur.
— 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 19,300-19,400/MT ex-Bellary, Karnataka.
— BIOP Steels in South India has offered FeM 80 & 82 C-DRI lumps at INR 20,400/MT & 20,900/MT ex-plant, Karnataka; an official reported.
Finish Long
— Central region, Raipur based brand – SPEED TMT has decreased their price by INR 400/MT on day basis and current offering at INR 34,200/MT (28 mm), ex-work & excluding GST.
— North region based Rathi Steels current offering at INR 39,700/MT, size – 12 mm & excluding 18% GST.
— Jalna based rebar manufacturer – SRJ Peety Steels Pvt Ltd branding Shree Om TMT unchanged their prices on day basis and offering 28 mm rebar at INR 35,800/MT, ex-work & excluding GST.
— Chennai based manufacturer Kamachi Industries Ltd increased their rebar prices by around INR 300/MT on day basis & current offering 12 mm at INR 40,300/MT, ex-work & excluding GST.
— As per market participants, local prices might get supportive in Chennai market as mentioned earlier few rolling mills inoperative due to pollution concern & couple of billet mft’s are under maintenance.
— West region based – Vistar tmt has unchanged their offers & current offering 28 mm rebar at INR 35,000/MT, ex-work & excluding GST.
— West region based Bhagwati Ferro Metal (P) Ltd offering 28 mm rebar at INR 35,000/MT for Mumbai, ex-work & excluding GST.
— The suppliers in Raipur have increased trade discount on Wire rod and current discount range at INR 800-1,400/MT.
Reference prices as on 10th August 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Mumbai | HMS(80:20) | 25,000 | 24,900 | 25,100 | NA | 25,200 | 24,400 |
| Ex-Chennai | HMS(80:20) | 23,000 | 22,900 | 23,100 | 0 | 22,600 | 23,500 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 23,200 | 23,100 | 23,300 | – 400 | 21,600 | 20,000 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 21,700 | 21,600 | 21,800 | – 200 | 20,800 | 20,600 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 22,950 | 22,900 | 23,000 | – 150 | 22,200 | 21,200 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 20,200 | 20,100 | 20,300 | – 100 | 19,300 | 18,900 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 22,000 | 21,900 | 22,100 | – 400 | 20,300 | 19,000 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 21,700 | 21,600 | 21,800 | – 50 | 20,600 | 19,350 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,400 | 19,300 | 19,400 | – 100 | 18,600 | 18,300 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 19,700 | 19,600 | 19,800 | – 200 | 19,200 | 18,700 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 35,500 | 35,400 | 35,600 | – 300 | 34,800 | 33,850 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 32,900 | 32,800 | 33,000 | – 300 | 31,800 | 31,000 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 31,800 | 31,700 | 31,800 | – 200 | 30,300 | 30,200 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 32,000 | 31,900 | 32,100 | – 500 | 31,050 | 30,850 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 33,850 | 33,800 | 33,900 | – 650 | 32,800 | 31,400 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 35,500 | 35,400 | 35,600 | + 200 | 34,300 | 34,000 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 34,700 | 34,600 | 34,800 | 0 | 33,500 | 32,700 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 36,000 | 35,900 | 36,100 | – 200 | 35,300 | 34,400 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 33,400 | 33,300 | 33,500 | – 300 | 32,200 | 31,500 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 32,600 | 32,500 | 32,700 | – 200 | 31,100 | 30,800 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 32,900 | 32,800 | 33,000 | – 400 | 31,900 | 31,200 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 34,200 | 34,100 | 34,300 | – 600 | 33,100 | 31,700 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 36,000 | 35,900 | 36,100 | + 200 | 34,800 | 34,500 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 35,000 | 34,900 | 35,200 | 0 | 33,700 | 33,000 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 38,400 | 38,200 | 38,500 | – 300 | 37,200 | 39,200 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 36,500 | 36,300 | 36,700 | – 300 | 35,800 | 36,000 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 36,300 | 36,200 | 36,400 | – 300 | 34,700 | 36,200 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 38,200 | 37,800 | 38,300 | 0 | 36,500 | 36,000 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 40,000 | 39,800 | 40,200 | 0 | 39,200 | 39,500 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 38,500 | 38,300 | 38,700 | – 200 | 37,500 | 38,300 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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