In the week opening, Indian Semi finished steel prices fall further and as per assessment the price corrections was about INR 100-600/MT for Billet & INR 100-400/MT for Sponge iron. The major fall in prices reported in south & western regions by INR 300-600/MT (USD 4-8), day-on-day.
As per Billet manufacturers in central & east regions, sponge iron supply have improved and suppliers willing for bulk bookings owing to piled up stock.
SteelMint’s latest price assessment for induction furnaces Billet in Indian market stood at INR 33,700-37,500/MT (USD 462-515) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 22,000-24,200/MT (USD 301-332); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 1st October 2018 (Monday) INR to USD exchange rate stood at INR 72.91
— BSE Sensex closed at 36,526(+299) on Monday, as against last day (Friday) at 36,227(-97).
Raw Materials
— RP Sao recorded an increased in Iron ore production in Aug’18 at 0.47 MnT, up 18% as against 0.4 MnT in Jul’18.
— Imported scrap offers to India for HMS 1&2 (80:20) Dubai origin containers stood at around USD 352/MT, CFR Nhava Sheva
Semi Finished
— Raipur, Central India based Integrated plants offering Sponge P-DRI at INR 22,700-22,800/MT & Sponge DR CLO grade at INR 25,100-25,300/MT ex-plant
— Rashmi Metaliks in Durgapur, known as price trend setter, has offered Sponge P-DRI at INR 21,000/MT – Sources.
— Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 23,000-23,100/MT & Billet at INR 33,500/MT ex-plant. As per officials, recently export deal of one rake billet to Nepal at around USD 465/MT (ex-Mill).
— Raigarh based smelters getting offers of 80 FeM C-DRI mix material from Odisha at INR 23,500/MT FoR Raigarh
— BMM Ispat in South India (Karnataka) has reduced offers by INR 400-500/MT and offering FeM 80 P-DRI at INR 22,500-22,600/MT ex-Bellary. As per a official, the prices fall due to limited demand.
— BIOP Steels in South India has kept offers unaltered; offering FeM 80 & 82 C-DRI lumps at INR 24,000/MT & INR 24,500/MT ex-plant, Karnataka; an official reported.
— South India (Telangana) based Cauvery Iron & Steel offers FeM 80 P-DRI & Billet at INR 23,500/MT & INR 36,000/MT. Also offering 28 mm rebar at INR 37,000/MT. All prices are ex-plant & excluding GST.
Finish Long
— Hyderabad (South India) based Pipe manufacturer Mahalakshmi Profiles Pvt. Ltd (MPL) has offered Electric Resistance Welded (ERW) Pipe which is made from strips of hot-rolled steel at INR 43,500/MT ex-plant. (basic & excluding GST).
— South India – Chennai based ARS Trusteel reduced their prices by INR 500/MT on day basis & current offering rebar 12mm at INR 43,800/MT, ex-plant & excluding GST.
— Jalna based rebar manufacturer Rajuri Steel Pvt Ltd unchanged their prices on day basis & current offering basic rebar at INR 37,000/MT, ex-work & excluding GST.
— Kalika Steel Alloys in Jalna unchanged their prices d-o-d basis & current offering 28mm rebar at INR 37,000/MT, ex-plant & excluding GST.
— Mumbai, Maharashtra based SUN TMT has reduced rebar prices by INR 200/MT on day basis and current offering 28 mm rebar at INR 36,400/MT, ex-work & excluding GST.
— East region based – Baba Smelter Pvt. Ltd has unchanged their Structure offers on day basis & current (125,150 Channel) offering at INR 41,250/MT, ex-work & excluding GST.
— Gujarat based Shreeyam Power & Steel Industries Ltd branding as National TMT decreased their prices by INR 400/MT on day basis & current offering 28mm rebar at INR 46,600/MT FoR & including GST at 18%, Sponge P-DRI at 25,000/MT and Billet at INR 35,400-35,500/MT, excluding GST.
— Shakti Ferro Alloys in Chennai, South region has unchanged rebar at INR 43,500/MT (12 mm) and Billet INR 37,500/MT on regular payment term, ex-work & excluding GST.
— Rathi Steels in North region has unchanged their offer on day basis and current reported 12mm at INR 40,100/MT, excluding GST.
— Central region, Raipur based brand – SPEED TMT unchanged their prices on day basis and current offering 28mm at INR 36,000/MT, ex-work & excluding GST.
— South region based – VRKP Steel Industry Pvt Ltd – VRKP tmt reduced their prices by INR 300/MT and current offering 8mm rebars at INR 49,500/MT, ex-work & including GST.
— South region – Chennai based manufacturer shared Structure – 50 Angle at INR 42,000/MT with routine payment terms, ex-work & excluding GST.
— The suppliers in Raipur have slightly increased trade discount on wire rod and today’s discount at INR 1,200-1,500/MT.
— JSW Steel has announced today hike in rebar prices by about INR 1,500/MT for Oct’18 deliveries.
Reference prices as on 1st October 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 27,200 | 27,200 | 27,300 | 0 | 27,400 | NA |
| Ex-Mumbai | HMS(80:20) | 27,000 | 26,800 | 27,000 | – 300 | 28,000 | NA | |
| Ex-Chennai | HMS(80:20) | 26,600 | 26,500 | 26,700 | – 100 | 27,300 | 24,800 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 22,000 | 21,900 | 22,100 | – 200 | 23,300 | 24,300 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 23,000 | 23,000 | 23,200 | – 200 | 24,600 | 24,500 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 24,200 | 24,100 | 24,300 | – 100 | 25,700 | 25,800 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 23,500 | 23,400 | 23,600 | – 300 | 24,100 | 22,800 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 20,800 | 20,700 | 20,900 | – 100 | 21,900 | 23,200 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 22,700 | 22,600 | 22,800 | + 100 | 24,000 | 24,550 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 22,600 | 22,500 | 22,700 | – 400 | 23,500 | 22,200 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 23,600 | 23,500 | 23,700 | – 200 | 24,100 | 22,800 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 36,200 | 36,100 | 36,300 | – 250 | 37,150 | 37,400 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 33,800 | 33,700 | 33,900 | – 100 | 35,000 | 36,000 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 32,800 | 32,700 | 32,900 | – 300 | 33,800 | 34,300 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 33,100 | 33,000 | 33,200 | – 300 | 34,400 | 35,000 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 35,200 | 35,100 | 35,300 | – 400 | 36,000 | NA | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 36,500 | 36,500 | 36,700 | – 500 | 37,500 | 36,300 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 35,700 | 35,600 | 35,800 | 0 | 36,700 | 35,700 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 37,000 | 36,900 | 37,100 | – 150 | 37,750 | 37,900 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 34,400 | 34,300 | 34,500 | – 100 | 35,500 | 36,500 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 33,500 | 33,400 | 33,500 | – 200 | 34,700 | 35,300 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 34,000 | 33,900 | 34,100 | – 400 | 35,400 | 35,900 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 35,400 | 35,300 | 35,500 | – 450 | 36,300 | NA | |
| Ex-Chennai | 125×125 mm, IS 2831 | 37,000 | 37,000 | 37,200 | – 500 | 38,000 | 36,800 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 36,000 | 35,900 | 36,100 | 0 | 37,000 | 36,000 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 39,000 | 38,800 | 39,100 | – 300 | 40,000 | 40,500 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 39,100 | 38,900 | 39,300 | – 200 | 40,100 | 40,300 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 38,000 | 37,900 | 38,200 | – 200 | 38,900 | 38,800 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 39,600 | 39,200 | 39,700 | – 200 | 40,100 | 40,100 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 42,200 | 42,100 | 42,500 | 0 | 42,600 | 41,000 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 39,500 | 39,300 | 39,700 | 0 | 40,500 | 39,500 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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