Indian Semi finished prices increase further on improved inquiries with the producers. As per SteelMint’s daily assessment the prices rise for Sponge iron by INR 100-300/MT & Billet by INR 100-500/MT.
During the day, major hike of INR 500/MT (USD 7.5) in Billet was noticed in Central Region-Raipur owing to strong demand in Finished steel products, as per trade participants.
Rupee & BSE Sensex
— On 22nd May 2018 (Tuesday) INR to USD exchange rate stood at INR 68.01
— BSE Sensex closed at 34,651(+35) on Tuesday, as against last day (Monday) at 34,616(-232).
Key Updates
— SAIL’s Barsua iron ore mines resume operations after a gap of 4 yrs. The mine has EC limit of 3.5 MnT pa & is key source of raw material to Rourkela & Bokaro steel plants
— Rourkela Steel plant (RSP) has invited a tender of 33,750 MT pellets.The company has announced last date of tender submission on 30th May’18 till 16:00 hrs (IST).
— South African RB2 (5500 NAR) coal offers are assessed at USD 90/MT on FoB basis & USD 105/MT CNF India. Prices rie by USD 10/MT in a month trade activities.
— Induction grade billet export offers to Nepal from Durgapur, East India assessed at USD 535-540/MT (ex-mill) and little trades being reported at USD 535-537/MT.
— Raipur, Central India based Integrated plants have raised offers by INR 100/MT day-on-day and offering Sponge P-DRI at INR 19,600-19,800/MT ex-plant.
— As per Ingot/Billet manufacturers in Jindal’s punjipatra-Raigarh area (Central India), power supply have been reduced to 15-16 hrs from earlier about 18 hrs per day.
— Buying interest of Sponge iron reduced in Raigarh (Chhattisgarh) due to the upcoming power cut by JSPL from 1st June 2018.
— Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 20,800/MT & billet at INR 35,500/MT ex-plant. As per officials, trade activities average at the offer prices.
— South India based Cauvery Iron & Steel offers FeM 80 P-DRI & billet at INR 20,400/MT & INR 36,000/MT. Also offering 28 MM Rebar at INR 38,000/MT. prices are ex-plant & excluding GST.
— BMM Ispat a price trend setter in South Indian sponge market has increased offers for FeM 80 P-DRI by INR 200/MT to INR 19,400-19,500/MT ex-Bellary, Karnataka.
— BIOP Steels in South India has increased sponge offers by around INR 200/MT, offering FeM 80 & 82 C-DRI lumps at INR 20,600/MT & INR 21,000/MT ex-plant, Karnataka; an official reported.
Reference prices as on 22nd May 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Chennai | HMS(80:20) | 26,700 | 26,600 | 26,800 | + 100 | 26,700 | 26,300 |
| Ex-Mumbai | HMS(80:20) | 27,600 | 27,500 | 27,600 | 0 | 27,700 | 25,800 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 21,700 | 21,600 | 21,800 | 0 | 21,400 | 21,700 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 20,900 | 20,800 | 21,000 | + 100 | 20,500 | 20,900 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 21,900 | 21,800 | 22,000 | + 150 | 21,800 | 21,900 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 20,500 | 20,400 | 20,600 | + 300 | 19,800 | 20,100 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 20,300 | 20,200 | 20,400 | 0 | 20,100 | 20,300 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 19,700 | 19,600 | 19,800 | + 100 | 19,600 | 19,800 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,500 | 19,400 | 19,600 | + 200 | 18,900 | 19,100 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 20,300 | 20,200 | 20,400 | + 300 | 19,300 | 20,200 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 39,000 | 38,900 | 39,100 | 0 | 37,400 | 37,500 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 35,800 | 35,700 | 35,900 | + 100 | 34,750 | 35,000 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 35,000 | 34,900 | 35,100 | + 300 | 33,700 | 34,200 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 35,400 | 35,300 | 35,500 | + 400 | 34,250 | 34,500 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 36,300 | 36,200 | 36,400 | + 300 | 35,800 | 36,100 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 35,300 | 35,200 | 35,400 | – 200 | 36,500 | 36,500 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 35,700 | 35,600 | 35,800 | + 200 | 34,700 | 36,000 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 39,700 | 39,600 | 39,800 | + 200 | 38,100 | 38,000 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 36,500 | 36,400 | 36,600 | + 200 | 35,300 | 35,600 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 35,600 | 35,500 | 35,700 | + 300 | 34,500 | 34,500 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 36,700 | 36,600 | 36,800 | + 500 | 35,250 | 35,400 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 36,800 | 36,700 | 36,900 | + 300 | 36,450 | 36,300 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 35,800 | 35,700 | 35,900 | – 200 | 37,000 | 37,000 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 36,000 | 35,900 | 36,100 | + 250 | 35,000 | 36,300 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 415/500 Fe | 42,500 | 42,300 | 42,700 | + 700 | 40,800 | 40,900 |
| Ex-Durgapur | 12-25 MM, IS 1786- 415/500 Fe | 41,050 | 40,850 | 41,250 | + 250 | 39,800 | 40,000 | |
| Ex-Raipur | 12-25 MM, IS 1786- 415/500 Fe | 40,400 | 40,200 | 40,600 | + 400 | 39,200 | 39,200 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 415/500 Fe | 40,600 | 40,200 | 40,700 | + 200 | 40,500 | 39,800 | |
| Ex-Chennai | 12-25 MM, IS 1786- 415/500 Fe | 40,600 | 40,400 | 40,800 | – 200 | 41,600 | 41,000 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 415/500 Fe | 40,500 | 40,300 | 40,700 | + 500 | 39,500 | 41,000 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
Leave a Reply