Indian Semis prices fall further over weak trade inquiries. As per SteelMint assessment the prices of Billet have declined by INR 100-500/MT & Sponge iron about INR 100/MT, day-on-day.
As per market participants, as the conversion spread (margins) dip of Induction furnaces, prices of Ingot/Billets should find stability. However, seasonal weak demand of Rebar remain a major concern for steady prices, they added.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 33,000-36,500/MT (USD 478-530) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 19,200-21,800/MT (USD 278-316); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 5th July 2018 (Thursday) INR to USD exchange rate stood at INR 68.89
— BSE Sensex closed at 35,574(-70) on Thursday, as against last day (Wednesday) at 35,645(+266)
Raw material
— KIOCL (Kudremukh Iron Ore Company Limited) has recently concluded a deal of 50,000 MT pellets of Fe 64% grades (less than 2% alumina) at around USD 117-118/MT, FoB India for July shipment -Sources.
— According to the latest assessment of Coking coal, spot prices of the Premium HCC, Australia have increased by around USD 2/MT W-o-W & assessed at USD 212.9/MT CNF India
Semi finished
— Indian induction grade billet export offers to Nepal hovering at USD 490/MT ex-mill, Durgapur & USD 480-485/MT ex-mill Odisha, Eastern India.
— Indian induction furnaces conversion spread (margins) slumped near about INR 3,500-4,000/MT (USD 50-58) in last one month due to sharp fall in billet prices amid stability in sponge iron.
— Raipur, Central India based Integrated plants offers unaltered, offering Sponge P-DRI at INR 19,800-20,000/MT & Sponge DR CLO grade at INR 22,700-22,900/MT ex-plant.
— Odisha based medium size sponge manufacturers selling FeM 80 C-DRI (70:30 mix material) at INR 22,000/MT FoR Raipur & excluding GST.
— Ganesh Metaliks offered Billet at INR 33,000/MT ex-plant,Odisha; an official reported. Prices decline by INR 300/MT in a day trade activities.
— Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered billet at INR 33,000/MT ex-plant, an official reported. And added, the plant has not offering Sponge iron due to maintenance activities.
— BMM Ispat in South India (Karnataka) has reduced offers for FeM 80 P-DRI by INR 100/MT to INR 18,300-18,400/MT ex-Bellary.
— BIOP Steels in South India has offered FeM 80 & 82 C-DRI lumps at INR 19,500/MT & INR 19,900/MT ex-plant, Karnataka; an official reported. And added offer unaltered due to average demand from Maharashtra, Western region.
Finish Long
— Prakash Ferrous Industries Pvt. Ltd (Tirumala) based in Chennai has offered Rebar 12mm at INR 42,000/MT ex-plant & excluding GST.
— Gujarat based, Keyur Ispat Ltd unchanged their offers on day basis & current offering 20 mm Rebar at INR 46,200/MT FoR & including GST at 18%.
— Gujarat based Akshar TMT has reduced their price range by around INR 500/MT on day basis & currently offer basic rebar at INR 45,900/MT FoR & including GST at 18%, Size – 20 mm.
— Jalna based rebar manufacturer – SRJ Peety Steels Pvt Ltd branding Shree Om TMT unchanged their prices on day basis and offering basic rebar at INR 36,000/MT ex-work & excluding GST.
— North region based Rathi Steels have reduce their prices by around INR 500/MT on day basis and offering 12 mm rebar at INR 41,600/MT, excluding 18% GST.
— Central region, Raipur based brand – SPEED TMT have unchanged their prices on day basis and current offering at INR 36,200/MT (28 mm), ex-work & excluding GST.
— Gujarat based Diamond TMT reduce their prices by around INR 200/MT on day basis and current offers reported at INR 46,300/MT FoR & including GST at 18%, Size – 20 mm.
Reference prices as on 5th July 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Mumbai | HMS(80:20) | 24,900 | 24,800 | 25,000 | – 100 | 25,200 | 27,500 |
| Ex-Chennai | HMS(80:20) | 24,100 | 24,000 | 24,200 | 0 | 24,900 | 26,400 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 21,800 | 21,700 | 21,900 | – 100 | 22,000 | 22,700 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 20,800 | 20,700 | 20,900 | 0 | 20,700 | 21,200 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 21,800 | 21,700 | 21,900 | 0 | 21,300 | 22,000 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,200 | 19,100 | 19,300 | 0 | 19,100 | 20,400 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 20,800 | 20,700 | 20,900 | – 50 | 21,000 | 21,300 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 19,900 | 19,800 | 20,000 | – 50 | 19,400 | 20,200 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 18,500 | 18,400 | 18,600 | 0 | 18,400 | 19,700 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 19,100 | 19,000 | 19,200 | – 100 | 19,500 | 20,300 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 36,100 | 36,000 | 36,200 | 0 | 37,600 | 39,300 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 33,400 | 33,300 | 33,500 | – 100 | 34,500 | 36,650 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 32,100 | 32,000 | 32,200 | – 100 | 33,400 | 36,150 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 32,800 | 32,700 | 32,900 | – 100 | 33,700 | 35,800 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 33,200 | 33,100 | 33,300 | 0 | 34,300 | 37,000 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 34,300 | 34,200 | 34,400 | 0 | 34,200 | 36,000 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 33,700 | 33,600 | 33,800 | 0 | 33,700 | 36,000 | |
| Billet | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 36,500 | 36,400 | 36,600 | 0 | 38,000 | 39,800 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 33,800 | 33,700 | 33,900 | – 200 | 34,900 | 37,000 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 33,000 | 32,900 | 33,100 | – 100 | 34,000 | 36,700 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 33,750 | 32,700 | 32,800 | – 150 | 34,700 | 37,000 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 33,450 | 33,400 | 33,500 | -50 | 34,500 | 37,200 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 34,800 | 34,700 | 34,900 | 0 | 34,700 | 36,500 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 34,000 | 33,900 | 34,100 | 0 | 34,000 | 36,250 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 40,800 | 40,600 | 40,900 | – 400 | 41,900 | 44,500 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 38,100 | 37,900 | 38,300 | – 400 | 39,800 | 41,800 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 38,300 | 38,200 | 38,500 | 0 | 39,300 | 41,500 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 38,000 | 37,600 | 38,100 | 0 | 38,400 | 41,100 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 39,800 | 39,600 | 40,000 | 0 | 39,800 | 41,000 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 38,750 | 38,500 | 39,000 | 0 | 39,000 | 40,800 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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