Indian Semis price decline further with limited demand amid low finished steel sales. As per assessment, Billet offers fall in the range of INR 100-700/MT & Sponge iron by INR 100-300/MT day-on-day.
The Billet manufacturers in Central & East India stated that, due to weak trends, inquiries remained hand to mouth. Similarly in South India, Hyderabad the manufacturers reported – weak buying interest, hence they have sold Billet at INR 35,000/MT today as against last day at INR 35,500/MT, ex-plant.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 35,000-39,600/MT (USD 516-584) ex-plant. Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 20,300-22,900/MT (USD 300-338); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 21st June 2018 (Thursday) INR to USD exchange rate stood at INR 67.86
— BSE Sensex closed at 35,432(-114) on Thursday, as against last day (Wednesday) at 35,547(+260)
Raw material
— India’s MMTC awards 80,000 MT iron ore fines purchase tender to Rungta Mines, as per market sources. MMTC has floated EoI for purchase of 80,000 MT fines every month from Odisha miners
— JSW Steel (Dolvi) procured 51 rakes from NMDC Chhattisgarh mines in May’18, up slightly as against 49 rakes in Apr’18.
— In a day trade activities scrap offers in Western & South India declined by INR 200-500/MT (USD 3-7)
— Singhal Steel, Raigarh (Central India) based manufacturer has offered 60-14 Silico Manganese at around INR 62,000/MT ex-plant
Semi finished
— RINL has invited a tender for export of 10,000 MT Billets, 20,000 MT Blooms and 16,000 MT Rounds. The due date for submission of bids is 25 Jun’18 at 11:00 hrs.
— Raipur, Central India based Integrated plants have reduced offers by INR 200-300/MT day-on-day and offering Sponge P-DRI at INR 19,400-19,600/MT ex-plant.
— Rashmi Metaliks in Durgapur has reduced Sponge prices by INR 200-300/MT today and quoted Sponge P-DRI at around INR 22,000/MT, Sources.
— Rourkela based furnace owner, who produces about 600 TPD Billet per day reported that they are buying P-DRI from Jharsuguda due to low prices than the high cost C-DRI
— Production of Semi finished steel slows down in Punjipathra (Raigarh), around 20% (5 hrs) power supply continues by Jindal in a day, reported by the manufacturers.
— Rourkela based, one of the major producer & exporter of Billet, quoted export offers to Nepal at around USD 530/MT ex-mill, while no major inquiries received at the quoted price; reported by manufacturer.
— BIOP Steels in South India has offered FeM 80 & 82 C-DRI lumps at INR 20,100/MT & INR 20,500/MT ex-plant, Karnataka; an official reported. And added offer unaltered due to average demand from Jalna, Hindupur & Hyderabad region.
— The latest price assessment for Steel grade Pig iron stood at INR 29,600-29,800/MT ex-Raipur, INR 29,300-29,600/MT ex-Durgapur, INR 28,500-28,700/MT ex-Odisha, INR 29,200-29,500/MT ex-Bokaro & INR 30,000-30,500/MT ex-works Vizag/Hyderabad. The prices are excluding 18% GST.
Finish Long
— Jalna based Rebar manufacturer – SRJ Peety Steels Pvt Ltd branding Shree Om TMT has unchanged their prices on day basis and offering basic Rebar at INR 38,000/MT, ex-work & excluding GST.
— Shakti Ferro Alloys in Chennai, South region has offered 12 mm Rebar at INR 40,000/MT & Billet at INR 35,000/MT with advance payment term, ex-work & excluding GST.
— The medium steel plants in Ghaziabad have changed basic heavy structure to ISMB – 250 (Beam) and gauge parity differences have been decreased as per different sizes.
— Raipur Power and Steel Ltd offering Wire Rod (5.5 MM) at INR 41,100/MT, Raw Pellet – INR 6,400/MT, Sponge P-DRI at INR 19,500/MT & Silico Manganese at INR 63,000/MT, ex-mill & excluding GST. As per official view finish price range should get hold for some time as it has been amended more than INR 1,000/MT.
— East Region based – Shakambhari Ispat & Power Ltd has offered Wire Rod 5.5 mm at INR 41,300/MT & Rebar 16mm at INR 40,500/MT, ex-work & excluding GST.
— Gujarat based Akshar TMT has decrease their offer price by INR 300/MT on day basis & current offering basic Rebar at INR 49,600/MT FoR & including GST at 18%, Size – 20 mm.
— The steel mills in Gujarat indicate slight fall in local ship breaking scrap prices as trades inquiries are not supported.
Reference prices as on 21st June 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Mumbai | HMS(80:20) | 25,900 | 25,800 | 26,000 | – 200 | 25,800 | 27,500 |
| Ex-Chennai | HMS(80:20) | 25,500 | 25,400 | 25,600 | – 300 | 26,000 | 26,700 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 22,900 | 22,800 | 23,000 | – 300 | 23,200 | 21,700 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 20,900 | 20,800 | 21,000 | – 100 | 20,900 | 21,000 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 21,600 | 21,500 | 21,700 | – 100 | 22,000 | 22,000 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 20,300 | 20,200 | 20,400 | – 100 | 19,800 | 20,800 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 21,900 | 21,800 | 22,000 | – 300 | 22,000 | 20,300 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 19,500 | 19,400 | 19,600 | – 250 | 20,000 | 19,800 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,500 | 19,400 | 19,600 | – 100 | 19,100 | 19,800 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 20,000 | 19,900 | 20,100 | – 100 | 20,100 | 20,400 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 39,200 | 39,100 | 39,300 | – 300 | 38,600 | 38,500 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 36,100 | 36,000 | 36,200 | – 500 | 36,000 | 36,000 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 35,300 | 35,200 | 35,300 | – 600 | 35,200 | 35,500 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 34,800 | 34,700 | 34,900 | – 400 | 35,600 | 35,950 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 36,200 | 36,100 | 3,600 | – 200 | 36,200 | 36,500 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 34,700 | 34,600 | 34,800 | – 100 | 34,800 | 35,500 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 34,700 | 34,600 | 34,800 | – 500 | 35,500 | 36,200 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 39,600 | 39,500 | 39,800 | – 400 | 39,100 | 39,400 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 36,500 | 36,400 | 36,600 | – 500 | 36,500 | 36,600 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 35,700 | 35,600 | 35,800 | – 500 | 35,700 | 36,100 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 35,900 | 35,800 | 36,000 | – 400 | 36,700 | 36,900 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 36,400 | 36,300 | 36,400 | – 200 | 36,400 | 37,100 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 35,200 | 35,000 | 35,400 | – 100 | 35,300 | 36,000 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 35,000 | 34,900 | 35,100 | – 500 | 35,750 | 36,500 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 44,100 | 43,900 | 44,300 | – 300 | 43,300 | 43,000 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 41,300 | 41,100 | 41,500 | – 200 | 41,300 | 41,300 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 40,300 | 40,100 | 40,500 | – 200 | 41,000 | 40,900 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 39,900 | 39,500 | 40,000 | – 300 | 39,900 | 40,800 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 40,400 | 40,200 | 40,500 | 0 | 40,600 | 40,500 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 39500 | 39300 | 39700 | – 500 | 40250 | 41000 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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