Indian Semis prices slump on 20th Apr due to poor inquiries with the manufacturers. The prices registered fall of – Billet by INR 300-600/MT (USD 4-9) & Sponge iron by INR 100-300/MT day-on-day.
The latest price assessment for induction furnaces billet in Indian market stood at INR 34,500-37,400/MT (USD 520-564) ex-plant. Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 20,400-21,300/MT (USD 307-321); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 20th Apr 2018 (Friday) INR to USD exchange rate stood at INR 66.22
— BSE Sensex closed at 34,415(-11) on Friday, as against last day (Thursday) at 34,427(+95).
Raw materials
— As per SteelMint assessment, Imported scrap offers to India for HMS 1&2 (80:20) Dubai origin containers stood at around USD 380/MT, CFR Nhava Sheva
Semi finished
— Raipur, Central India based Integrated plants offer reduced by INR 100/MT D-o-D, offering Sponge P-DRI at INR 19,600-19,800/MT ex-plant.
— Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant reduced prices by about INR 200/MT & offered FeM 80 C-DRI at INR 20,800/MT & Billet at INR 34,800-34,900/MT ex-plant.
— Singhal Steel has offered P-DRI at INR 19,100-19,200/MT ex-plant (Raigarh). Also offering Billet at INR 35,000/MT FoR Raipur & excluding GST.
— BIOP Steels in South India has offered FeM 80 & 82 C-DRI lumps at INR 20,800/MT & INR 21,300/MT ex-plant, Karnataka; an official reported.
— Apple Industries in Bellary (Karnataka) offered Sponge FeM 86 C-DRI lump at INR 22,800/MT & Billet at INR 36,000/MT ex-plant.
— South India based Cauvery Iron & Steel offers FeM 80 P-DRI & billet at INR 20,600/MT & INR 36,500/MT. Also offering 28 MM Rebars at INR 38,500/MT, ex-plant.
Finish Long
— South based BMM Ispat unchanged their prices on day basis & offering Rebar 10-25 MM at INR 42,700/MT ex-work & excluding GST.
— Rathi Steels in North India – Delhi have unchanged their price today and offering 12 mm rebars at INR 42,400/MT, excluding 18% GST.
— Shakti Ferro Alloys in Chennai, South Region offering Billet at INR 36,500/MT & Rebars at INR 41,000/MT, ex-work & excluding GST.
— Raipur Power and Steel Ltd has offered Wire Rod (5.5 MM) at INR 40,200/MT & Raw Pellet at INR 6,200/MT ex-mill & excluding GST.
— The suppliers in Raipur have slightly increased trade discount on Wire rod to around INR 1,200-1,400/MT to awake dull inquiries.
— Jalna based Rebar manufacturers giving price discount of around INR 200-300/MT due to poor inquiries and offering 12 mm rebars at INR 39,200-39,600/MT, ex-work & excluding GST.
— Gujarat based Akshar TMT has unchanged their offers and offering rebar 20 mm at INR 46,600/MT FoR & including GST at 18%. Also added, price range shall be hover near to existing level although buying inquiries have narrowed.
— Goel TMT, one of the renowned rebar producers in Central India-Raipur has reduced prices by INR 400/MT and offered 10-25 mm rebars at INR 41,100/MT ex-plant. As per officials, inquiries slowdown currently in comparison to last week.
Reference prices as on 20th April 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Mumbai | HMS(80:20) | 26,000 | 25,900 | 26,100 | – 200 | 26,000 | 24,700 |
| Ex-Chennai | HMS(80:20) | 26,300 | 26,200 | 26,400 | 0 | 25,800 | 25,900 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 21,300 | 21,200 | 21,400 | – 300 | 21,000 | 20,400 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 20,700 | 20,600 | 20,800 | – 200 | 20,900 | 20,000 | |
| Ex-Raipur | 0-20 mm, -1 mm (20-25%), FeM 82%, +/-1 | 23,000 | 22,900 | 23,100 | 0 | 23,500 | 21,700 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 20,400 | 20,300 | 20,500 | – 100 | 20,600 | 20,500 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 20,100 | 20,000 | 20,200 | – 300 | 19,500 | 18,900 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 19,700 | 19,600 | 19,800 | – 100 | 20,500 | 19,600 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,500 | 19,400 | 19,600 | 0 | 20,000 | 19,900 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 20,700 | 20,600 | 20,800 | – 100 | 20,900 | 20,500 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 36,800 | 36,700 | 36,900 | – 600 | 37,200 | 34,900 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 34,500 | 34,400 | 34,600 | – 500 | 34,500 | 32,000 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 34,100 | 34,000 | 34,200 | – 300 | 33,800 | 31,200 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 34,000 | 33,900 | 34,100 | – 650 | 34,600 | 31,800 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 35,700 | 35,600 | 35,700 | – 300 | 36,000 | 33,900 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 36,500 | 36,400 | 36,600 | – 100 | 36,000 | 35,500 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 36,200 | 36,000 | 36,200 | – 500 | 35,200 | 33,800 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 37,400 | 37,300 | 37,600 | – 600 | 37,800 | 35,600 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 35,000 | 34,900 | 35,100 | – 300 | 35,100 | 32,500 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 34,500 | 34,400 | 34,600 | – 300 | 34,300 | 32,100 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 34,900 | 34,800 | 35,000 | – 400 | 35,200 | 32,700 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 35,900 | 35,800 | 35,900 | – 300 | 36,200 | 34,100 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 37,000 | 37,000 | 37,300 | 0 | 36,500 | 36,000 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 36,500 | 36,300 | 36,500 | – 500 | 35,500 | 34,000 | |
| TMT | Ex-Delhi/NCR | 12MM | 40,800 | 40,600 | 41,000 | 0 | 40,600 | 38,300 |
| Ex-Durgapur | 12MM | 39,700 | 39,500 | 38,900 | – 100 | 39,600 | 37,300 | |
| Ex-Raipur | 12MM | 38,900 | 38,700 | 39,100 | – 300 | 38,900 | 36,500 | |
| Ex-Mumbai | 12MM | 39,600 | 39,200 | 39,700 | – 200 | 40,100 | 37,900 | |
| Ex-Chennai | 12MM | 41,000 | 40,800 | 41,200 | – 300 | 41,000 | 41,000 | |
| Ex-Hyderabad | 12MM | 41,400 | 41,300 | 41,500 | – 100 | 40,500 | 39,500 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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