Indian Semi finished prices further increased on strong trade activities across India. As per SteelMint assessment the price surge for Sponge iron by INR 100-300/MT & Billet by INR 200-600/MT day-on-day.
The latest price assessment for induction furnaces billet in Indian market stood at INR 33,800-37,700/MT (USD 518-578) ex-plant. Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 20,600-22,100/MT (USD 316-339); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 11th Apr 2018 (Wednesday) INR to USD exchange rate stood at INR 65.26
— BSE Sensex closed at 33,940(+60) on Wednesday, as against last day (Tuesday) at 33,880(+91).
Raw materials
— SAIL has floated a export tender for 10,800 MT billet from its Durgapur Steel plant. The due date for bid submission is 16th Apr’18.
Semi finished
— Raipur, Central India based Integrated plants offers increased by INR 300/MT D-o-D, offering Sponge P-DRI at INR 20,300-20,500/MT ex-plant
— Odisha based medium size sponge manufacturers have raised prices by INR 200-300/MT and reported FeM 80 C-DRI (70:30 mix material) at INR 20,600-20,800/MT ex-plant & excluding GST.
— JSW Steel offered Gas based DRI (Sponge iron) at around INR 22,000/MT (USD 339) ex-plant, Dolvi – Maharashtra.
— Tata Metaliks, one of India’s major foundry grade pig iron manufacturer has kept its prices unaltered for April’18 bookings, as per reports.
— BIOP Steels in South India has offered FeM 80 & 82 C-DRI lumps at INR 20,500/MT & 20,900/MT ex-plant, Karnataka; an official reported.
— BMM Ispat in South India (Karnataka) has increased offers for FeM 80 P-DRI by INR 300/MT to INR 19,900-20,000/MT ex-Bellary, an official reported.
— South India based Cauvery Iron & Steel offers FeM 80 P-DRI & billet at INR 20,800/MT & INR 35,500/MT. Also offering 28 MM Rebar at INR 37,500/MT. prices are ex-plant & excluding GST.
Finish Long
— Rathi Steels in North India- Delhi, a price trend setter for rebars, has keep offers unchanged for the day and reported 12 mm at INR 41,800-41,900/MT ex-works & excluding GST.
— As per participants, the producers in Raipur – Central India have reduced trade discount on Wire rod to INR 600-800/MT against last day at around INR 1,200/MT. It seems that improved demand & sharp surge in billet prices influence producers to cut discounts.
— Raipur- Central India based Goel TMT has raised prices by INR 400/MT (day-on-day) and offered 10-25mm rebars at INR 40,900/MT ex-plant. As per officials demand continue to remained strong specifically from project works & retail segment as well.
— Kalika Steels in Jalna has reported rise in inquiries, however the producer has keep offers unchanged for rebars at INR 37,000/MT (28mm), ex-plant & excluding GST.
Reference prices as on 11th April 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Chennai | HMS(80:20) | 25,700 | 25,600 | 25,800 | 0 | 25,700 | 26,200 |
| Ex-Mumbai | HMS(80:20) | 25,900 | 25,800 | 26,000 | – 100 | 25,500 | 25,400 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 20,600 | 20,500 | 20,700 | + 100 | 19,600 | 21,100 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 20,800 | 20,700 | 20,900 | + 200 | 20,100 | 20,100 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 22,100 | 22,000 | 22,200 | + 100 | 21,300 | 21,400 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 20,600 | 20,500 | 20,700 | + 100 | 20,300 | 20,900 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 19,200 | 19,100 | 19,300 | + 200 | 18,000 | 20,000 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 20,400 | 20,300 | 20,500 | + 300 | 19,700 | 19,750 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 20,000 | 19,900 | 20,100 | + 200 | 19,700 | 20,100 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 20,900 | 20,800 | 21,000 | + 200 | 20,600 | 20,600 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 37,000 | 36,900 | 37,100 | + 200 | 35,800 | 34,450 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 34,300 | 34,200 | 34,400 | + 300 | 32,600 | 32,500 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 33,400 | 33,300 | 33,500 | + 400 | 32,000 | 31,200 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 34,100 | 34,000 | 34,200 | + 550 | 32,550 | 31,850 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 35,400 | 35,300 | 35,500 | – 100 | 34,600 | 34,300 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 36,000 | 35,900 | 36,100 | 0 | 35,900 | 35,800 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 35,200 | 35,100 | 35,300 | 0 | 34,200 | 33,800 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 37,700 | 37,500 | 37,800 | + 300 | 36,400 | 35,300 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 34,900 | 34,800 | 35,000 | + 400 | 32,900 | 33,000 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 33,800 | 33,700 | 33,900 | + 400 | 32,400 | 32,000 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 34,900 | 34,800 | 35,000 | + 500 | 33,100 | 32,750 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 35,600 | 35,500 | 35,700 | – 100 | 34,800 | 34,500 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 36,500 | 36,400 | 36,600 | 0 | 36,400 | 36,250 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 35,500 | 35,300 | 35,500 | 0 | 34,500 | 34,000 | |
| TMT | Ex-Delhi/NCR | 12MM | 40,100 | 38,900 | 40,200 | 0 | 39,100 | 38,000 |
| Ex-Durgapur | 12MM | 39,300 | 39,100 | 39,500 | + 300 | 37,800 | 37,700 | |
| Ex-Raipur | 12MM | 38,200 | 38,000 | 38,400 | 0 | 36,800 | 36,400 | |
| Ex-Mumbai | 12MM | 39,600 | 39,200 | 39,700 | 0 | 38,800 | 38,200 | |
| Ex-Chennai | 12MM | 41,000 | 40,700 | 41,100 | 0 | 41,000 | 40,500 | |
| Ex-Hyderabad | 12MM | 40,250 | 40,000 | 40,500 | + 250 | 39,500 | 39,500 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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