Indian Billet prices have increased further by INR 100-500/MT on day trade activities. As per assessment the major hike was assessed in West & Southern regions by INR 300-500/MT (USD 4-7.5) over improved inquiries. However at the same time Sponge market reported price fluctuations of INR 100/MT amid limited trades.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 36,000-39,700/MT (USD 536-592) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 20,400-22,500/MT (USD 304-335); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 1st June 2018 (Friday) INR to USD exchange rate stood at INR 67.11
— BSE Sensex closed at 35,227(-95) on Friday, as against last day (Thursday) at 35,322(+416)
Raw material
— Durgapur pellet prices climb to 4-Month high. Prices have gone up by INR 250/MT to INR 6,500/MT (delivered) against last assessment of INR 6,200-6,300/MT (delivered)
— Price assessment of UK/USA origin containerized Shredded stood at USD 380-385/MT, CFR Nhava Sheva. South African HMS 1&2 assessed at around USD 368-370/MT and Dubai HMS 1 at USD 370-375/MT, CFR Nhava Sheva.
Semi finished
— Ludhiana, North India based trade participants reported steel & foundry grade pig iron offers at INR 31,300/MT & INR 34,000/MT on FoR basis & excluding 18% GST.
— Raipur, Central India based Integrated plants offering Sponge P-DRI at INR 19,600-19,700/MT & Sponge DR CLO grade at INR 22,600-22,800/MT ex-plant
— In a day, 30-40% Power supply will continues by JPL for Punjipatra, Raigarh based steel mill owners, reported by the manufacturers.
— A day before, Monnet Ispat offered FeM 80 P-DRI at INR 19,000/MT ex-plant, Raigarh. Also offered P-DRI from its Raipur based plant at INR 19,900/MT ex-plant; Few deals concluded for Nashik (Maharashtra), Freight via road at INR 1,800/MT.
— Medium size sponge manufacturers in Odisha, offered FeM 80 C-DRI (70:30 mix material) at INR 20,800-21,000/MT ex-plant & excluding GST.
— Odisha based manufacturer, Ganesh Metaliks offered billet at INR 36,700/MT ex-plant. Also offers for exports reported at around USD 548/MT (ex-mill).
— BMM Ispat a price trend setter in South Indian sponge market has kept offers unaltered today and offering FeM 80 P-DRI lumps at INR 19,800-19,900/MT ex-Bellary, Karnataka.
Finish Long
— North Region based Rathi Steels have increased their prices by around INR 250/MT d-o-d basis and current offering at INR 45,800/MT, size – 12 mm & excluding 18% GST.
— Jalna based rebar manufacturer – SRJ Peety Steels Pvt Ltd branding Shree Om TMT increase their prices by around INR 200/MT on day basis and offering basic rebar at INR 39,400/MT, ex-work & excluding GST.
— The suppliers in Raipur have unchanged their trade discount on Wire rod by around INR 800-1,000/MT, size – 5.5 MM.
— West Region Based – Vistar tmt has increased their offers by around INR 300/MT and current offering basic Rebar price at INR 38,100/MT, Ex-work basis & excluding GST. As per Co. official demand exists amid optimistic sentiments.
— Raipur Power and Steel Ltd offering Wire Rod (5.5 MM) at INR 42,500/MT, Raw Pellet at INR 6,100/MT, Sponge P-DRI at INR 19,700/MT, Billet 37,200/MT & Silico Manganese at INR 62,500/MT ex-Mill & excluding GST. As per Co. official Wire Rod demand is good & doesn’t loose the existing price range for near term as per current scenario.
Reference prices as on 1st June 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Chennai | HMS(80:20) | 26,500 | 26,400 | 26,600 | 0 | 26,700 | 26,300 |
| Ex-Mumbai | HMS(80:20) | 27,500 | 27,400 | 27,600 | 0 | 27,400 | 26,900 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 22,500 | 22,400 | 22,600 | + 100 | 21,600 | 22,900 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 21,000 | 20,900 | 21,000 | 0 | 20,800 | 21,100 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 21,700 | 21,600 | 21,800 | 0 | 21,900 | 22,300 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 20,400 | 20,300 | 20,500 | 0 | 20,800 | 19,600 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 21,000 | 20,900 | 21,100 | + 100 | 20,150 | 21,500 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 19,650 | 19,600 | 19,700 | – 50 | 19,700 | 20,300 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,700 | 19,600 | 19,800 | 0 | 19,800 | 18,800 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 20,400 | 20,300 | 20,500 | 0 | 20,500 | 19,300 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 39,100 | 39,000 | 39,200 | – 200 | 38,850 | 38,700 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 36,700 | 36,600 | 36,800 | 0 | 36,000 | 36,300 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 36,200 | 36,100 | 36,300 | + 200 | 35,500 | 34,800 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 36,200 | 36,100 | 36,300 | + 50 | 35,900 | 34,800 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 37,300 | 37,200 | 37,400 | + 300 | 36,500 | 36,200 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 36,100 | 36,000 | 36,200 | + 100 | 35,500 | 36,500 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 35,700 | 35,600 | 35,800 | 0 | 35,700 | 35,700 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 39,800 | 39,700 | 40,000 | – 300 | 39,700 | 39,400 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 37,200 | 36,100 | 37,300 | – 100 | 36,500 | 36,900 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 36,500 | 36,400 | 36,600 | + 100 | 36,000 | 35,600 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 37,300 | 37,200 | 37,400 | + 50 | 37,000 | 35,750 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 37,800 | 37,700 | 37,900 | + 500 | 37,000 | 36,800 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 36,700 | 36,700 | 36,800 | + 200 | 36,000 | 37,000 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 36,000 | 35,900 | 36,100 | 0 | 36,000 | 36,000 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 44,600 | 44,400 | 44,800 | + 300 | 43,300 | 42,200 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 42,000 | 41,800 | 42,200 | + 200 | 41,200 | 41,300 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 41,600 | 41,400 | 41,800 | – 100 | 40,900 | 39,600 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 41,100 | 40,700 | 41,200 | + 400 | 40,800 | 40,900 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 41,000 | 40,800 | 41,200 | + 200 | 40,700 | 41,200 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 40,500 | 40,300 | 40,700 | 0 | 40,500 | 40,500 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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