Indian Semis prices remain on down trend due to limited trades. The prices have registered fall of INR 100-200/MT in Sponge iron & INR 100-500/MT in Billets.
As per standalone Billet producers in major markets, demand from the Rolling mills continue to remain poor over seasonal limited bookings of Finished products.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 35,600-39,300/MT (USD 523-578) ex-plant.Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 20,400-23,200/MT (USD 300-341); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 20th June 2018 (Wednesday) INR to USD exchange rate stood at INR 68.09
— BSE Sensex closed at 35,547(+260) on Wednesday, as against last day (Tuesday) at 35,286(-261)
Raw material
— India’s NMDC likely to revise iron ore prices in next 2-3 days- market sources
— Jindal SAW has concluded around 50,000 pellet export deal to a South Korean major steel maker at around USD 119/MT, CFR- Sources
— Bhushan Steel’s pellet procurement from JSPL reduced to 4 rakes in May’18 against 6 rakes in Apr’18.
— The Paradip Port Trust has invited bids for allotment of 07 mechanical iron ore/iron ore pellets plots through the online bidding platform. The last date for submission of bid is 09th July’18
— Indian pellet exports to South Korea moved up to 0.44 MnT in FY18 as against 0.05 MnT in FY17- SteelMint Stats.
— Tata Steel starts dispatch of Ferro Chrome from its Gopalpur Plant which has an annual capacity of 55,000 MT
Semi finished
— Vizag Steel has invited the tender for export of 11,008 MT Billets, 5,504 MT Blooms and 5,504 MT Wirerods to Nepal. The due date for submission of bid is 25 Jun’18
— Raipur, Central India based Integrated plants offering Sponge P-DRI at INR 19,800-20,000/MT & Sponge DR CLO grade at INR 22,500-22,700/MT ex-plant. However as per participants no major bookings as landed cost of outside material is cheaper by INR 200/MT.
— Rashmi Metaliks in Durgapur has rolled over sponge prices and are assessed P-DRI at INR 22,200-22,300/MT.
— Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 21,000/MT & billet at INR 36,000/MT ex-plant.
— Odisha, East India based trade participants reported Billet buying from Raigarh (Central India).
— BMM Ispat a price trend setter in South Indian sponge market has kept firm prices and are assessed FeM 80 P-DRI lumps at INR 19,500-19,600/MT ex-Bellary, Karnataka.
— Hyderabad, South India based few steel manufacturers reduced billet offers to INR 35,500/MT. Also offering FeM 80 P-DRI & 28 MM Rebar at INR 20,000-20,200/MT & INR 37,500/MT. prices are ex-plant & excluding GST.
Finish Long
— Jalna based Rebar manufacturer – SRJ Peety Steels Pvt Ltd branding Shree Om TMT has decreased prices by INR 500/MT on day basis and offering basic Rebar at INR 38,000/MT, ex-work & excluding GST.
— Central Region (Raigarh) based Anjani Steels Limited branding Radhe TMT having monthly production capacity 12,000 MT, unchanged prices on day basis and currently offer 28 mm Rebar at INR 39,200/MT, ex-work & excluding GST.
— Raipur Power and Steel Ltd offering Wire Rod (5.5 MM) at INR 41,500/MT, ex-mill & excluding GST.
— The suppliers in Raipur have maintained their trade discount on Wire rod to around INR 1,200-1,400/MT, size – 5.5 MM. As per sources demand is weak & trade discount may remain fluctuate by around INR 200/MT.
— South Region Based Chennai manufacturer – Tulsyan NEC Steel (Tulsyan) has unchanged their offer price on day basis & current offering Rebar 12 mm at INR 41,500/MT, ex-plant & excluding GST.
— East Region Based – Baba Smelter Pvt. Ltd has unchanged their offers on day basis & current offering basic Structure at INR 41,500/MT, ex-work, excluding GST.
Reference prices as on 20th June 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Mumbai | HMS(80:20) | 26,100 | 26,000 | 26,200 | 0 | 25,900 | 27,600 |
| Ex-Chennai | HMS(80:20) | 25,800 | 25,700 | 25,900 | – 300 | 26,000 | 26,700 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 23,200 | 23,100 | 23,300 | – 200 | 23,000 | 21,750 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 21,000 | 20,900 | 21,100 | 0 | 20,800 | 21,000 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 21,700 | 21,600 | 21,800 | – 100 | 21,700 | 22,000 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 20,400 | 20,200 | 20,500 | 0 | 19,900 | 20,700 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 22,200 | 22,100 | 22,300 | 0 | 21,800 | 20,350 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 19,750 | 19,700 | 19,800 | – 150 | 19,700 | 19,800 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,600 | 19,500 | 19,700 | 0 | 19,200 | 19,700 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 20,100 | 20,000 | 20,200 | – 100 | 20,200 | 20,300 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 39,400 | 39,300 | 39,500 | – 200 | 38,300 | 39,000 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 36,500 | 36,400 | 36,600 | – 100 | 35,800 | 36,100 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 35,900 | 35,800 | 36,000 | – 100 | 34,800 | 35,200 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 35,100 | 35,000 | 35,200 | – 450 | 34,700 | 35,800 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 36,400 | 36,300 | 36,500 | 0 | 35,900 | 36,400 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 34,800 | 34,600 | 35,000 | – 200 | 35,000 | 35,300 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 35,200 | 35,100 | 35,300 | – 500 | 34,700 | 36,200 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 39,800 | 39,700 | 40,000 | – 200 | 38,800 | 39,800 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 37,000 | 36,900 | 37,100 | 0 | 36,200 | 36,700 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 36,200 | 36,100 | 36,300 | 0 | 35,400 | 36,000 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 36,200 | 36,100 | 36,300 | – 400 | 35,750 | 37,000 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 36,600 | 36,500 | 36,600 | – 100 | 36,100 | 37,000 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 35,300 | 35,100 | 35,500 | – 200 | 35,500 | 35,800 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 35,500 | 35,400 | 35,600 | – 500 | 35,000 | 36,500 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 44,400 | 44,200 | 44,600 | + 300 | 43,300 | 43,000 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 41,500 | 41,300 | 41,700 | + 100 | 41,050 | 41,500 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 40,500 | 40,300 | 40,700 | – 300 | 40,500 | 40,800 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 40,200 | 39,800 | 40,300 | 0 | 39,800 | 40,800 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 40,400 | 40,200 | 40,500 | – 200 | 40,800 | 40,600 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 40,000 | 39,900 | 40,100 | – 500 | 39,500 | 41,000 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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