Indian Steel prices fall further on poor inquiries and as per SteelMint assessment the prices of Sponge iron & Billet dip by INR 100-500/MT, day-on day.
The major price fall was reported in East India – Durgapur by INR 400-500/MT in both Sponge iron & Billet. Meanwhile, in rest of markets except in Western India it declined by INR 100-300/MT.
SteelMint’s price assessment for induction furnaces billet size 125×125 mm are reported at INR 32,000-36,000/MT (USD 492-553) ex-plant. And the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 20,000-21,300/MT (USD 307-327); prices are ex-plant & excluding GST.
On 22nd Mar 2018 (Thursday) INR to USD exchange rate stood at INR 65.11 & BSE Sensex closed at 33,006(-129).
Key Market Updates:
1. Vizag Steel concludes 15,000 MT billet export tender for 200*200 mm at around USD 505/MT, FoB India.
2. Durgapur, Eastern India based private pig iron producers have reduced prices by INR 200-300/MT to INR 28,300-28,500/MT as per assessment. While Raipur – Central India based suppliers are offering steel grade pig iron in the range of INR 29,700-30,000/MT FoR.
3. Neelachal Ispat offers Steel grade (N1) Pig iron at INR 29,500/MT (USD 454) & Foundry grade (N2) at INR 30,000/MT (USD 462), ex-plant, Cuttack (Odisha). The company’s price circular expiring on 23rd Mar 2018.
4. Raipur, Central India based Integrated plants offer reduced by INR 200/MT D-o-D, offering Sponge P-DRI at INR 19,800-19,900/MT & Sponge DR CLO grade at INR 21,700-21,900/MT ex-plant.
5. Few Raipur based smelters purchased pellet sponge from Raigarh at INR 19,500-19,600/MT FoR Raipur.
6. Rashmi Metaliks in Durgapur has reduced sponge P-DRI prices to INR 19,400-19,500/MT as against yesterday at INR 19,700-19,800/MT, Sources.
7. Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 20,300/MT & billet at INR 32,500/MT ex-plant an official reported. And added export deal of 3 rake billet to Nepal has concluded few days back at around USD 508/MT (Loaded to wagon).
8. Odisha based manufacturer, Ganesh Metaliks offered billet at INR 32,500/MT ex-plant, an official reported. And added, export deal of a rake billet have concludes to Nepal at USD 512/MT (Loaded to wagon).
9. BMM Ispat in Karnataka has offered sponge P-DRI at INR 20,200/MT and Sunvik Steels sponge C-DRI lumps at INR 21,200/MT. Both offers for FeM 80, excluding GST & ex-plant basis.
10. South India – Chennai based ARS Trusteel reported unchanged their prices against last day trades. The current offers for Rebar 12 MM at INR 43,500/MT & Billet at INR 36,000/MT ex-plant & excluding GST.
11. Raipur based suppliers have increased trade discount on Wire Rod to around INR 1,000-1,200/MT to improve inquiries and better supply movement as Wire Rod falls INR 500/MT on day basis due to lack of demand.
12. Rathi Steels in North India – Delhi unchanged their price today and current offering at INR 39,800/MT, size – 12 mm & excluding 18% GST.
13. Kalika Steel Alloys in Jalna has reduced prices by around INR 200/MT and are reported 28mm rebars at INR 35,500/MT, ex-plant & excluding GST.
14. Goa based plants have booked 20 ft containerized melting scrap at USD 350/MT, 20 MT loading from West Africa & arrival period would be approximate 45-60 days.
15. Raipur Power and Steel Ltd offering Wire Rod (5.5 MM) at INR 38,100/MT, Raw Pellet at INR 6,500/MT, Ex-Mill & Excluding GST.
16. Goa based Billet manufacturers sold billet to Kerala at INR 34,500/MT (ex-work) and freight cost around INR 2,100-2,300/MT.
Reference prices as on 22nd March 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 20,800 | 20,700 | 20,900 | – 400 | 21,100 | 22,200 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 20,100 | 20,000 | 20,200 | – 200 | 20,200 | 20,800 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 21,300 | 21,200 | 21,400 | – 200 | 21,600 | 21,500 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 20,700 | 20,600 | 20,800 | – 200 | 20,900 | 20,800 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 19,200 | 19,200 | 19,300 | – 500 | 20,000 | 21,100 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 19,700 | 19,600 | 19,800 | – 100 | 19,900 | 20,250 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 20,100 | 20,000 | 20,200 | 0 | 20,100 | 20,000 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 20,600 | 20,500 | 20,700 | 0 | 20,700 | 20,900 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 34,900 | 34,800 | 35,000 | – 300 | 34,800 | 36,000 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 32,300 | 32,200 | 32,400 | – 400 | 32,500 | 33,000 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 31,300 | 31,200 | 31,300 | – 300 | 31,400 | 31,800 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 31,800 | 31,700 | 31,900 | – 200 | 32,100 | 32,600 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 34,000 | 33,900 | 34,100 | 0 | 34,700 | 34,800 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 35,500 | 35,400 | 35,600 | 0 | 35,500 | 34,000 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 34,200 | 34,100 | 34,300 | 0 | 33,800 | 33,500 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 35,700 | 35,500 | 35,800 | – 300 | 35,500 | 36,800 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 32,800 | 32,700 | 32,900 | – 200 | 33,000 | 33,400 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 32,300 | 32,200 | 32,400 | – 300 | 32,200 | 32,400 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 32,750 | 32,700 | 32,800 | – 150 | 32,900 | 33,300 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 34,200 | 34,100 | 34,300 | 0 | 34,900 | 35,000 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 36,000 | 35,500 | 36,000 | 0 | 36,000 | 34,500 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 34,500 | 34,300 | 34,500 | 0 | 34,000 | 33,500 | |
| TMT | Ex-Delhi/NCR | 12MM | 38,800 | 38,600 | 39,000 | 0 | 38,000 | 38,800 |
| Ex-Durgapur | 12MM | 37,400 | 37,200 | 37,600 | – 100 | 37,700 | 37,600 | |
| Ex-Raipur | 12MM | 36,600 | 36,400 | 36,800 | – 200 | 36,600 | 36,800 | |
| Ex-Mumbai | 12MM | 37,900 | 37,500 | 38,000 | 0 | 38,400 | 39,200 | |
| Ex-Chennai | 12MM | 41,000 | 40,900 | 41,100 | 0 | 40,700 | 38,600 | |
| Ex-Hyderabad | 12MM | 40,000 | 39,800 | 40,200 | 0 | 39,700 | 39,000 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
Leave a Reply