Indian Semi finished steel prices declined today on limited inquiries and the price fall have seen in Billet by INR 100-600/MT & Sponge iron by INR 100-300/MT. The manufacturers in major markets stated thin trades, hence are forced to cut prices in line to fetch bookings.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 35,000-38,000/MT (USD 493-535) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 23,000-25,600/MT (USD 324-360); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 31st August 2018 (Friday) INR to USD exchange rate stood at INR 70.98
— BSE Sensex closed at 38,645(-45) on Friday, as against last day (Thursday) at 38,690(-32).
Raw Materials
— Odisha High Court stalls progress of 3 auctioned iron ore blocks alloted to Essar Steel, Bhushan Steel & Bhushan Power & Steel.
— Odisha’ RP Sao raised iron ore fines & lump prices by INR 400/MT
— According to the latest assessment of Coking coal, spot prices of the Premium HCC are reported at around USD 183/MT FoB Australia & USD 198.65/MT CNF India.
Semi Finished
— Indian medium mills export offers to Nepal fall on devaluation of Indian Rupee against US dollar, the latest price assessed for Billet at USD 515-520/MT & Wire rod at USD 590-595/MT Ex-Mill, Durgapur, East India.
— The latest price assessment for Steel grade Pig iron stood at INR 30,600-31,000/MT ex-Durgapur (West Bengal), INR 30,000-30,500/MT ex-Jharkhand & INR 30,700-31,000/MT ex-Raipur. The prices are excluding 18% GST.
— SteelMint’s Pig iron export price assessment stood at USD 365-370/MT FoB India and USD 375-380/MT FoB Black sea.
— Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 24,300-24,400/MT & Billet at INR 35,500/MT ex-plant.
— Odisha based manufacturer, Ganesh Metaliks offered Billet at INR 35,800/MT ex-plant. As per a official, majorly deals for Patna (Bihar) market.
— BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 22,500/MT ex-Bellary, Karnataka.
— Hare Krishna, a 300 TPD sponge manufacturer in Bellary, Karnataka has offered FeM 80 P-DRI at INR 22,500-22,700/MT ex-plant, an official reported.
— BIOP Steels in South India has offered FeM 80 & 82 C-DRI lumps at INR 23,500/MT & 24,000/MT ex-plant, Karnataka; an official reported.
— Apple Industries in Bellary (Karnataka) offered Sponge FeM 83+ C-DRI lump at INR 23,700/MT & Billet at INR 36,300/MT ex-plant.
Finish Long
— Jalna based rebar manufacturer – Kalika TMT offers unchanged and offered rebar (28 mm) at INR 37,500/MT, ex-work & excluding GST.
— South India – Chennai based ARS Trusteel prices unchanged on day basis & current offering Rebar 12 mm at INR 42,700/MT, ex-plant & excluding GST.
— Central region, Raipur based brand – SPEED TMT has unchanged their prices on day basis and current offering at INR 37,000/MT (28 mm), ex-work & excluding GST.
— Mumbai, Maharashtra based Guardian TMT has kept rebar unchanged on day basis and current offering 10-32 mm rebar at INR 40,100/MT, ex-work & excluding GST.
— Gujarat Based, Keyur Ispat Ltd offering basic rebar at INR 47,300/MT FoR & including GST at 18%, Size – 20 mm.
— The suppliers in Raipur increased trade discount on Wire Rod and today’s discount at INR 700-1,500/MT.
Reference prices as on 31st August 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Mumbai | HMS(80:20) | 25,900 | 25,800 | 26,000 | 0 | 25,700 | 25,200 |
| Ex-Chennai | HMS(80:20) | 24,900 | 24,800 | 25,000 | 0 | 24,100 | 22,600 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 24,300 | 24,200 | 24,400 | – 150 | 24,600 | 21,600 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 24,400 | 24,300 | 24,500 | – 100 | 23,900 | 20,800 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 25,600 | 25,500 | 25,700 | – 100 | 25,300 | 22,200 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 23,000 | 22,900 | 23,100 | – 200 | 21,500 | 19,300 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 23,150 | 23,100 | 23,200 | – 200 | 23,600 | 20,300 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 24,500 | 24,400 | 24,600 | – 100 | 24,500 | 20,600 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 22,500 | 22,400 | 22,600 | – 300 | 20,800 | 18,600 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 22,900 | 22,800 | 23,000 | – 100 | 21,300 | 19,200 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 37,500 | 37,400 | 37,600 | – 300 | 37,600 | 34,800 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 36,000 | 35,900 | 36,100 | – 300 | 35,400 | 31,800 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 34,500 | 34,400 | 34,600 | – 100 | 34,000 | 30,300 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 34,600 | 34,500 | 34,700 | – 450 | 34,900 | 31,050 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 35,800 | 35,700 | 35,900 | – 50 | 35,100 | 32,800 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 36,500 | 36,400 | 36,600 | 0 | 35,200 | 34,300 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 36,200 | 36,100 | 36,300 | 0 | 35,500 | 33,500 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 38,000 | 37,900 | 38,100 | – 600 | 38,000 | 35,300 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 36,500 | 36,400 | 36,600 | – 300 | 35,900 | 32,200 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 35,500 | 35,400 | 35,600 | 0 | 35,000 | 31,100 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 35,600 | 35,500 | 35,700 | – 400 | 36,000 | 31,900 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 36,000 | 35,900 | 36,100 | – 100 | 35,450 | 33,100 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 37,000 | 36,900 | 37,100 | 0 | 35,700 | 34,800 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 36,500 | 36,400 | 36,600 | 0 | 35,750 | 33,700 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 40,900 | 40,700 | 41,100 | 0 | 40,500 | 37,200 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 40,600 | 40,400 | 40,800 | – 200 | 39,500 | 35,800 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 39,000 | 38,800 | 39,200 | – 100 | 39,000 | 34,700 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 40,100 | 39,700 | 40,200 | 0 | 38,800 | 36,500 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 41,400 | 41,200 | 41,600 | 0 | 40,000 | 39,200 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 40,000 | 39,800 | 40,200 | 0 | 39,000 | 37,500 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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