Indian Semi finished steel prices increased today amid slight improved demand from the local re-rollers. As per assessment, the Billet prices rise by INR 200-500/MT & Sponge iron by INR 100-300/MT, day-on-day.
As per trade participants, future bookings are still on hold through the stockiest-end due to volatility in prices & unclear market directions.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 33,100-36,800/MT (USD 450-501) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 21,600-23,000/MT (USD 294-313); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 16th October 2018 (Tuesday) INR to USD exchange rate stood at INR 73.44.
— BSE Sensex closed at 35,162(+297) on Tuesday, as against last day (Monday) at 34,865(+131).
— NSE Nifty50 index was closed today at 10,584(+72).
Raw Materials
— IDCOL has issued two different tenders for tentative sale of 21,400 MT iron ore from its Roida ‘C’ iron and manganese mines, Keonjhar (Odisha). The due date for bid submission is 22nd Oct’18.
— According to the latest assessment of Coking coal, spot prices of the Premium HCC are reported at around USD 217/MT FoB Australia & USD 233.6/MT CNF India.
— South African RB2 (5500 NAR) coal offers are assessed at USD 73/MT on FoB basis & USD 89/MT CNF India.
— Local manufacturers in Raigarh are offering 60-14 Silico Manganese at around INR 73,000/MT ex-plant.
— As per mills in Pujipatra, Raigarh – Central India, power cut continues by Jindal (JPL) for around 5 hours/day.
Semi Finished
— Tata Sponge Iron Ltd – one of the largest sponge producers in Eastern India has reported decline of 15.30% in its total income to INR 23,107 Lacs in Q2 FY19 as against INR 27,283 Lacs in Q1 FY19.
— Atibir Industries based at Giridih, Jharkhand has reduced steel grade pig iron prices to INR 29,000/MT as against last week at INR 29,000-29,500/MT ex-plant.
— Raipur, Central India based Integrated plants offer increased by INR 200-300/MT, offering Sponge P-DRI at INR 21,400-21,600/MT & Sponge DR CLO grade at INR 23,800-24,000/MT ex-plant.
— Odisha based medium size sponge manufacturers have raised prices by INR 200/MT and reported FeM 80 C-DRI (70:30 mix material) at INR 22,000-22,200/MT ex-plant & excluding GST.
— Raigarh based Singhal Steel offered P-DRI at INR 20,700/MT & C-DRI at INR 22,300/MT ex-Raigarh, an official reported. Also, the company offers Billet at INR 33,800-33,900/MT FoR Raipur.
— BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 20,700-20,800/MT ex-Bellary, an official reported.
— BIOP Steels in South India has kept offers unaltered; offering FeM 80 & 82 C-DRI lumps at INR 21,900/MT & INR 22,400/MT ex-plant, Karnataka; an official reported.
— Hyderabad, South India based few steel manufacturers increased billet offers to INR 35,000/MT. Also offering FeM 80 P-DRI & 28 MM Rebar at INR 21,500/MT & INR 36,000/MT. prices are ex-plant & excluding GST
Finish Long
— Mandi Gobindgarh, North India based ERW pipe manufacturers have increased prices by INR 400/MT & offers reported at around INR 43,200/MT ex-plant & excluding GST.
— Trade discount in Raipur Wire rod through the suppliers almost remain unaltered at around INR 1,000/MT
— Rathi Steels in North region slight increased their prices on day basis & current offering at INR 40,400/MT (12 mm), excluding GST.
— Central region, Raipur based brand – SPEED TMT increase their prices by INR 100/MT on day basis & current offering at INR 35,200/MT (28 mm), ex-work & excluding GST.
— Central region (Raigarh) based Scan Group branding Shrishti TMT offering rebar at INR 35,300/MT (28 mm) ex-work & excluding GST.
— Gujarat Based, Keyur Ispat Ltd unchanged their prices on day basis & offering rebar at INR 45,000/MT (20 mm) FoR & including GST at 18%.
— Gujarat based Akshar TMT has unchanged their price on day basis & offering rebar at INR 45,300/MT (20 mm) FoR & including GST.
— Kalika Steel Alloys in Jalna slightly reduced their prices by INR 200/MT d-o-d basis & offering rebar at INR 36,200/MT (28 mm) ex-plant & excluding GST.
— Jalna based rebar manufacturer – SRJ Peety Steels Pvt Ltd branding Shree Om TMT unchanged their rebar prices on day basis & offering at INR 36,000/MT (28 mm), ex-work & excluding GST.
— Tulsyan NEC Steel (Tulsyan) based in Chennai offered rebars at INR 42,000/MT (12 mm), ex-plant & excluding GST.
Reference prices as on 16th October 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 26,700 | 26,600 | 26,800 | + 200 | 27,800 | 28,600 |
| Ex-Mumbai | HMS(80:20) | 25,500 | 25,400 | 25,600 | 0 | 26,100 | 27,600 | |
| Ex-Chennai | HMS(80:20) | 26,200 | 26,100 | 26,400 | – 100 | 26,600 | 26,200 | |
| C-DRI | Ex-Rourkela | Mix, FeM 80%, +/-1 | 22,100 | 22,000 | 22,200 | + 200 | 22,900 | 25,300 |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 23,000 | 22,900 | 23,100 | + 200 | 24,000 | 26,300 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 21,600 | 21,500 | 21,800 | 0 | 22,700 | 24,200 | |
| P-DRI | Ex-Raipur | Lumps, FeM 80%, +/-1 | 21,500 | 21,400 | 21,600 | + 300 | 22,500 | 24,900 |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 20,800 | 20,700 | 20,900 | 0 | 22,100 | 23,700 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 21,600 | 21,500 | 21,700 | 0 | 22,600 | 24,300 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 36,000 | 36,000 | 36,100 | + 400 | 36,900 | 37,800 |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 32,600 | 32,500 | 32,700 | + 350 | 33,300 | 34,900 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 33,100 | 33,000 | 33,200 | + 500 | 33,700 | 34,900 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 33,900 | 33,800 | 34,000 | + 100 | 34,800 | 36,400 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 35,200 | 35,100 | 35,300 | + 200 | 35,700 | 37,800 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 34,500 | 34,300 | 34,700 | + 500 | 35,700 | 37,300 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 36,800 | 36,700 | 36,900 | + 400 | 37,700 | 38,300 |
| Ex-Rourkela | 125×125 mm, IS 2831 | 33,100 | 33,000 | 33,200 | + 300 | 33,900 | 35,800 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 34,000 | 33,800 | 33,900 | + 500 | 34,600 | 35,900 | |
| Ex-Ahmedabad | 125×125 mm, IS 2831 | 34,400 | 34,300 | 34,500 | + 200 | 35,500 | 37,100 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 34,100 | 34,000 | 34,100 | + 100 | 35,000 | 36,600 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 35,700 | 35,600 | 35,800 | + 200 | 36,200 | 38,300 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 34,800 | 34,500 | 35,000 | + 500 | 36,000 | 37,500 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 39,100 | 38,900 | 39,300 | + 300 | 39,400 | 41,000 |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 37,400 | 37,200 | 37,500 | + 300 | 38,200 | 39,300 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 38,300 | 37,900 | 38,400 | 0 | 38,900 | 40,900 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 40,700 | 40,600 | 41,000 | 0 | 41,400 | 42,400 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 38,500 | 38,300 | 38,700 | + 500 | 39,500 | 41,000 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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