Indian Semi finished steel prices declined on day trade activities owing to limited inquiries and the price fall have seen in Billet by INR 100-700/MT & Sponge iron about INR 200/MT in major markets. The manufacturers have reported mix response on spot trades.
During the day major price fall in billet reported in Raipur & Ahmedabad by INR 400-500/MT & INR 700-800/MT, respectively. However in rest of markets the price corrections is about INR 100-300/MT.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 35,300-38,500/MT (USD 487-532) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 24,100-26,500/MT (USD 333-366); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 10th September 2018 (Monday) INR to USD exchange rate stood at INR 72.43
— BSE Sensex closed at 37,922(-467)on Monday, as against last day (Friday) at 38,389(+147).
Raw Materials
— National Mineral Development Corporation (NMDC) has increased base prices in Karnataka e-auctions by INR 150/MT in fines & INR 200/MT in lumps.
— NMDC is going to conduct an e-auction of 24,000 MT calibrated lump ore, 16,000 MT ROM, 16,000 MT iron ore lump and 20,000 MT iron ore fines from Chhattisgarh mines on 14th Sept’18.
— Sources reported, Chennai (South India) based traders selling scrap to Hyderabad (South India) at around INR 27,500-27,700/MT on FoR basis.
Semi Finished
— Power cut by DVC in Industrial of Durgapur near about 20-30% , as per local Ingot/Billet manufacturers.
— Electro Steels based in Bokaro has offered Steel grade Pig iron at INR 31,000/MT Ex-Plant & INR 32,000/MT FoR (landed) Durgapur.
— Raigarh based Singhal Steel offered P-DRI at INR 24,500/MT & C-DRI at INR 25,500/MT ex-plant, an official reported.
— Raipur based integrated plants have reduced sponge prices by INR 100-200/MT & offered P-DRI at INR 25,000-25,100/MT ex-plant.
— Odisha based Bhaskar Steel has concluded an export deal of billet to Nepal at INR 510/MT, ex-mill & loaded to rake.
— Odisha based manufacturers, Mahavir Ferro Alloys offered Billet at INR 36,500/MT ex-plant as per officials.
— BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 23,700/MT ex-Bellary, Karnataka
— BIOP Steels in South India has offered FeM 80 & 82 C-DRI lumps at INR 24,000/MT & 24,5600/MT ex-plant, Karnataka; an official reported.
— Apple Industries in Bellary (Karnataka) offered Sponge FeM 83+ P-DRI lump at INR 25,000/MT & Billet at INR 37,000/MT ex-plant.
Finish Long
— Rathi Steels in North region decreased their price range by INR 800/MT on day basis and current offering 12 mm rebar at INR 41,700/MT, & excluding 18% GST.
— South India – Chennai based ARS Trusteel increased their prices by INR 500/MT on day basis & current offering 12 mm rebar at INR 43,800/MT, ex-plant & excluding GST.
— Central region, Raipur based brand – SPEED TMT decreased their prices by INR 200/MT on day basis and current offering at INR 37,200/MT (28 mm), ex-work & excluding GST.
— Gujarat based Shreeyam Power & Steel Industries Ltd branding as National TMT has unchanged their prices on day basis and current offering basic rebar at INR 48,200/MT FoR & including GST at 18%, Size – 20 mm.
— South region Based – VRKP Steel Industry Pvt Ltd – VRKP tmt offering rebars at INR 50,000/MT (8 mm), ex-work & including GST.
— Jalna based rebar manufacturer – SRJ Peety Steels Pvt Ltd branding Shree Om TMT decreased their (28 mm) rebar prices by around INR 500/MT to INR 37,500/MT, ex-work & excluding GST.
— Rajuri Steel Pvt Ltd in Jalna has decrease their prices by INR 700/MT on day basis and current offering basic rebar at INR 37,500/MT, ex-work & excluding GST.
— Shakti Ferro Alloys in Chennai, South region offering rebar at INR 42,000/MT (12 mm) & Billet at INR 37,500/MT, ex-work & excluding GST.
— The suppliers in Raipur increased trade discount on wire rod and today’s discount at INR 700-1,500/MT.
— Raipur Power and Steel Ltd offering Silico Manganese at INR 68,500/MT, Sponge P-DRI at 25,000/MT, Pellets at INR 10,000/MT & Wire rod (5.5mm) at INR 41,900/MT ex-work & excluding GST.
Reference prices as on 10th September 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Mumbai | HMS(80:20) | 26,800 | 26,800 | 27,000 | 0 | NA | 25,000 |
| Ex-Chennai | HMS(80:20) | 25,700 | 25,600 | 25,800 | – 100 | 24,800 | 23,200 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 25,350 | 25,300 | 25,400 | – 250 | 24,300 | 23,000 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 25,200 | 25,100 | 25,300 | 0 | 24,500 | 21,500 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 26,500 | 26,400 | 26,600 | – 200 | 25,800 | 22,900 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 24,100 | 24,000 | 24,300 | – 100 | 22,800 | 20,200 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 24,350 | 24,300 | 24,400 | – 250 | 23,200 | 22,000 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 25,000 | 24,900 | 25,100 | – 250 | 24,550 | 21,700 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 23,700 | 23,600 | 23,800 | 0 | 22,200 | 19,200 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 24,200 | 24,100 | 24,300 | 0 | 22,800 | 19,700 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 37,950 | 37,900 | 38,000 | – 250 | 37,400 | 35,400 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 36,700 | 36,600 | 36,800 | – 300 | 36,000 | 32,800 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 35,100 | 35,000 | 35,200 | – 200 | 34,300 | 31,400 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 34,950 | 34,900 | 35,000 | – 450 | 35,000 | 32,000 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 36,350 | 36,300 | 36,400 | – 450 | NA | 33,200 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 37,000 | 36,900 | 37,100 | 0 | 36,300 | 35,600 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 37,000 | 36,800 | 37,200 | 0 | 35,700 | 34,200 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 38,500 | 38,400 | 38,600 | – 200 | 37,900 | 35,900 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 37,300 | 37,200 | 37,400 | – 200 | 36,500 | 33,500 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 36,200 | 36,100 | 36,300 | – 100 | 35,300 | 32,400 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 35,900 | 35,800 | 36,000 | – 500 | 35,900 | 32,600 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 36,800 | 36,700 | 36,900 | – 500 | NA | 33,400 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 37,500 | 37,400 | 37,600 | 0 | 36,800 | 36,100 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 37,300 | 37,000 | 37,500 | 0 | 36,000 | 34,500 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 40,500 | 40,300 | 40,600 | – 600 | 40,500 | 38,000 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 41,300 | 41,100 | 41,500 | 0 | 40,300 | 36,600 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 39,200 | 39,100 | 39,400 | – 500 | 38,800 | 35,900 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 40,900 | 40,600 | 41,000 | – 300 | 40,100 | 37,400 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 41,700 | 41,600 | 41,900 | + 200 | 41,000 | 40,000 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 40,700 | 40,500 | 41,000 | 0 | 39,500 | 38,000 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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