Indian Semi finished steel prices increased further with improved inquiries & supply concerns. As per assessment, the prices of Sponge iron & Billet increase by INR 200-500/MT (USD 3-7), day-on-day.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 33,500-37,500/MT (USD 478-536) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 20,700-24,100/MT (USD 295-344); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 17th August 2018 (Friday) INR to USD exchange rate stood at INR 70.16
— BSE Sensex closed at 37,947(+284) on Friday, as against last day (Thursday) at 37,663(-188).
Raw Materials
— KIOCL invited tender for supply of 100,000 DMT Iron ore concentrate – Hematite from reputed Indigenous Iron ore Suppliers. The due date for submission of bids is 4 Sept’18.
— Imported Shredded scrap offers to India have come down by USD 10-15/MT W-o-W to USD 345-352/MT, CFR.
— Melting scrap offers in Western India- Gujarat rise by INR 700/MT in a day trade activities.
Semi Finished
— MMTC, India’s largest and state owned trading house, has floated export tender of 30,000 MT non-alloy Pig Iron on behalf of NINL. The due date for submission of bids is 28 Aug’18.
— Ludhiana, North India based trade participants reported steel & foundry grade pig iron offers at INR 31,400/MT & INR 34,400-34,500/MT on FoR basis & excluding 18% GST.
— Raipur, Central India based Integrated plants have increased offers by INR 200/MT day-on-day and offering Sponge P-DRI at INR 22,800-23,000/MT ex-plant.
— Durgapur based big plants offering P-DRI at INR 23,000-23,200/MT which was at INR 22,700-22,900/MT on 17th August.
— Raigarh based Singhal Steel offered P-DRI at INR 22,000/MT ex-Raigarh, an official reported. Also, the company is offering Billets at INR 34,600/MT FoR Raipur.
— Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 22,500/MT & Billet at INR 33,500/MT ex-plant.
— BMM Ispat in South India (Karnataka) has increased offers for FeM 80 P-DRI by INR 400/MT to INR 19,900-20,000/MT ex-Bellary, an official reported.
— BIOP Steels in South India has increased sponge prices by around INR 500/MT, offering FeM 80 & 82 C-DRI lumps at INR 20,900/MT & INR 21,400/MT ex-plant, Karnataka; an official reported.
— South India (Telangana) based Cauvery Iron & Steel offers FeM 80 P-DRI & Billet at INR 20,500/MT & INR 35,500/MT. Also offering 28 MM Rebar at INR 36,000/MT. All prices are ex-plant & excluding GST.
Finish Long
— East region based – Baba Smelter Pvt. Ltd has increased their Structure offers by around INR 500/MT & current (125,150 Channel) offering at INR 39,750/MT, ex-work, excluding GST.
— GK TMT based in Central India – Raipur has increased offers to around INR 39,600/MT (10-25 mm), ex-Raipur & excluding GST.
— Raipur Power and Steel Ltd offering Wire Rod (5.5 MM) at INR 39,700/MT & Raw Pellet at INR 7,200/MT, Silico Manganese at INR 64,000/MT, Ex-Mill & Excluding GST.
— Durgapur based wire rod manufacturers increased offers by INR 500/MT to INR 39,500/MT, ( 5.5mm, GST extra). However as per participants no major deals at this prices.
Reference prices as on 17th August 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Mumbai | HMS(80:20) | 25,200 | 25,100 | 25,300 | + 100 | 25,000 | 24,500 |
| Ex-Chennai | HMS(80:20) | 23,600 | 23,500 | 23,800 | 0 | 23,000 | 22,600 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 24,100 | 24,000 | 24,200 | + 200 | 23,200 | 20,400 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 22,500 | 22,400 | 22,600 | + 300 | 21,700 | 20,600 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 24,000 | 23,900 | 24,000 | + 450 | 22,950 | 21,800 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 20,700 | 20,600 | 20,800 | + 300 | 20,200 | 19,200 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 23,100 | 23,000 | 23,200 | + 300 | 22,000 | 19,200 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 22,900 | 22,800 | 23,000 | + 200 | 21,700 | 19,800 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,800 | 19,700 | 19,900 | + 200 | 19,400 | 18,500 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 20,300 | 20,200 | 20,400 | + 200 | 19,700 | 18,800 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 37,000 | 36,900 | 37,100 | + 50 | 35,500 | 33,700 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 34,200 | 34,100 | 34,300 | + 300 | 32,900 | 31,000 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 33,000 | 32,900 | 33,100 | + 300 | 31,800 | 30,300 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 33,600 | 33,500 | 33,700 | + 200 | 32,000 | 30,800 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 34,700 | 34,600 | 34,800 | + 400 | 33,850 | 31,500 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 35,500 | 35,400 | 35,600 | – 100 | 35,500 | 33,500 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 35,200 | 35,100 | 35,300 | + 500 | 34,700 | 33,200 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 37,500 | 37,400 | 37,600 | + 50 | 36,000 | 34,200 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 34,800 | 34,700 | 34,900 | + 400 | 33,400 | 31,600 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 33,500 | 33,400 | 33,600 | + 200 | 32,600 | 31,000 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 34,700 | 34,600 | 34,800 | + 500 | 32,900 | 31,450 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 34,900 | 34,800 | 35,000 | + 400 | 34,200 | 31,800 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 36,000 | 35,900 | 36,100 | – 100 | 36,000 | 34,000 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 35,500 | 35,400 | 35,600 | + 500 | 35,000 | 33,500 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 39,100 | 39,000 | 39,400 | + 500 | 38,400 | 38,200 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 38,000 | 37,800 | 38,200 | + 500 | 36,500 | 36,100 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 37,600 | 37,500 | 37,700 | + 500 | 36,300 | 35,200 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 38,600 | 38,200 | 38,700 | + 500 | 38,200 | 35,800 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 40,200 | 40,000 | 40,300 | – 100 | 40,000 | 39,200 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 38,750 | 38,500 | 39,000 | + 250 | 38,500 | 38,000 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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