In the week opening, Indian Semi finished prices increase marginally over slight improvement in spot steel trades and the price rise seen in Sponge iron by INR 100-300/MT & Billet by INR 100-700/MT day-on-day.
The major price rise in Billet seen by INR 600-700/MT (USD 8-10) in Maharashtra – West India, while in rest of markets it increased by INR 200-400/MT (USD 3-6), day-on-day.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 31,500-35,400/MT (USD 460-517) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 19,200-21,500/MT (USD 280-314); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 16th July 2018 (Monday) INR to USD exchange rate stood at INR 68.57
— BSE Sensex closed at 36,323(-217) on Monday, as against last day (Friday) at 36,541(-6)
Raw material
— NMDC’s iron ore sales increased by almost four-folds M-o-M to 0.74 MnT in Jun’18 compared to 0.20 MnT in May’18 owing to reduction in iron ore prices.
— Indian iron ore exports in June’18 witnessed at 0.34 MnT, down 58% M-o-M as against 0.79 MnT in May’18.
— Imported scrap offers to India for HMS 1&2 (80:20) Dubai origin containers stood at around USD 340/MT, CFR Nhava Sheva, down by USD 15/MT W-o-W.
— Seaborne Coking Coal prices fell by USD 10/MT to around USD 189/MT FoB Australia & USD 203/MT CNF India.
Semi finished
— MMTC has concluded an export tender of 30,000 MT non-alloy Pig Iron on behalf of Neelachal Ispat Nigam Limited (NINL) in the price range of USD 382-383/MT, FoB. The shipment was scheduled between 21st to 31th July’18 from Paradip port.
— Atibir Industries, one of the major merchant supplier of Steel grade Pig iron in Jharkhand, has reduced prices by INR 500/MT to INR 28,500-29,000/MT (excluding GST) ex-plant, Giridih.
— Raipur, Central India based Integrated plants offering Sponge P-DRI at INR 19,600-19,700/MT & Sponge DR CLO grade at INR 22,400-22,600/MT ex-plant. As per participants, average deals are taking place at this offer prices.
— Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered billet at INR 31,600-31,700/MT ex-plant, an official reported.
— BMM Ispat in South India (Karnataka) has increased offers for FeM 80 P-DRI by INR 300/MT to INR 18,600-18,700/MT ex-Bellary, an official reported.
— Hyderabad, South India based most of steel manufacturers have increased billet offers by INR 500/MT to INR 34,000/MT. Also, Rebar offers raise to INR 36,000-36,500/MT, 28 mm, ex-plant & excluding GST.
Finish Long
— Jalna based rebar manufacturer – SRJ Peety Steels Pvt Ltd branding Shree Om TMT unchanged prices on day basis and offering 28 mm rebar at INR 34,500/MT, ex-work & excluding GST.
— Gujarat based Shreeyam Power & Steel Industries Ltd offering 20 mm Rebar at INR 43,500/MT (-400) from yesterday FoR & including GST at 18%.
— Central region, Raipur based brand – SPEED TMT have unchanged on day basis and offering 28 mm at INR 34,100/MT ex-work & excluding GST.
— North region based Rathi Steels have increased their prices to INR 40,400/MT, size – 12 mm & excluding 18% GST.
— Kalika Steel Alloys in Jalna unchanged their prices on d-o-d basis & current offering 28mm rebar at INR 34,500/MT ex-plant & excluding GST.
— Today Wire rod manufacturers in Raipur, Central India offered trade discount at around INR 800-1,000/MT.
Reference prices as on 16th July 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Mumbai | HMS(80:20) | 24,500 | 24,400 | 24,600 | + 100 | 24,500 | 26,100 |
| Ex-Chennai | HMS(80:20) | 23,200 | 23,100 | 23,300 | – 100 | 23,600 | 26,100 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 20,500 | 20,400 | 20,600 | + 100 | 21,600 | 23,500 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 20,800 | 20,700 | 20,900 | 0 | 20,900 | 21,000 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 21,500 | 21,400 | 21,600 | + 100 | 21,600 | 21,900 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,200 | 19,100 | 19,300 | + 300 | 19,200 | 20,400 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 19,500 | 19,400 | 19,600 | + 100 | 20,600 | 22,300 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 19,600 | 19,500 | 19,700 | + 50 | 19,700 | 20,000 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 18,600 | 18,500 | 18,700 | + 300 | 18,500 | 19,600 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 19,000 | 18,900 | 19,200 | + 300 | 19,000 | 20,200 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 34,900 | 34,800 | 35,000 | + 400 | 35,900 | 39,300 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 31,600 | 31,500 | 31,700 | 0 | 33,000 | 36,700 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 31,000 | 30,900 | 31,100 | + 300 | 32,100 | 36,000 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 31,550 | 31,500 | 31,600 | + 150 | 32,400 | 35,800 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 32,500 | 32,400 | 32,600 | + 700 | 32,600 | 36,600 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 34,000 | 33,900 | 34,100 | 0 | 34,300 | 35,000 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 33,700 | 33,600 | 33,800 | + 500 | 33,700 | 35,700 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 35,400 | 35,300 | 35,500 | + 400 | 36,300 | 39,800 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 32,100 | 32,000 | 32,200 | 0 | 33,500 | 37,100 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 31,500 | 31,400 | 31,600 | + 200 | 33,000 | 36,200 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 32,150 | 32,100 | 32,200 | + 250 | 33,400 | 36,800 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 32,750 | 32,700 | 32,800 | + 700 | 32,800 | 36,800 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 34,500 | 34,400 | 34,600 | 0 | 34,800 | 35,500 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 34,000 | 33,900 | 34,100 | + 500 | 34,000 | 36,000 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 39,200 | 39,000 | 39,400 | + 400 | 40,200 | 43,800 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 36,300 | 36,100 | 36,500 | 0 | 37,900 | 41,400 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 36,200 | 36,000 | 36,400 | 0 | 37,900 | 41,100 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 36,300 | 35,900 | 36,400 | + 400 | 37,500 | 40,200 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 39,400 | 39,200 | 39,600 | – 100 | 39,700 | 40,800 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 38,750 | 38,500 | 39,000 | + 250 | 39,000 | 40,500 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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