Indian MS Billet prices continue to slump in line in with poor inquiries from finished steel producers due to seasonal low demand. As per assessment the prices of Billet have declined by INR 100-500/MT and the major price fall seen in Central & Western markets by INR 300-500/MT, day-on-day.
In line Sponge iron the prices marginally fall by INR 100/MT in Central & South India, while in East region – Durgapur it increase by INR 300-400/MT due to short supply of material.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 36,000-39,700/MT (USD 532-587) ex-plant. Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 20,400-23,000/MT (USD 301-340); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 8th June 2018 (Friday) INR to USD exchange rate stood at INR 67.63
— BSE Sensex closed at 35,443(-19) on Friday, as against last day (Thursday) at 35,463(+284)
Raw material
— Jindal Steel has bought around 25,000 MT pellets at around INR 6,000/MT from merchant market owing to non-availability of railway rakes – Sources.
— Melting scrap prices in Maharashtra (Mumbai & Jalna) slump about INR 800-1,000/MT (USD 12-15) in line with falling Billet prices which fell by INR 1,000-1,200/MT in current week.
— As per assessment prices of global Coking coal rose sharply in line with strong demand from Chinese producers. Latest assessment for premium HCC stood at around USD 196-197/MT FoB Australia.
Semi finished
— Indian sponge iron export offers increased by USD 10/MT W-o-W, price assessment for 80 FeM sponge lumps are at USD 355-360/MT CPT Benapole (dry land port of Bangladesh & India) and USD 375-380/MT CFR Chittagong, Bangladesh.
— Sponge prices in Durgapur continue to surge in line with short supply, Rashmi Metaliks a price trend setter has raised prices by INR 300/MT and offered P-DRI at INR 21,700/MT. However, Billet offers were firm by the producer at INR 37,000/MT.
— Monnet Ispat offered Sponge DR-CLO at INR 23,200-23,300/MT & & P-DRI at INR 20,300/MT ex-plant, Raipur. Also offered P-DRI from its Raigarh based plant at INR 19,400-19,500/MT ex-plant; trade activities are weak at these offers, as per a official.
— Raigarh based Singhal Steel offered P-DRI at INR 19,400-19,500/MT ex- plant. Also, the company has offer Billets at INR 36,700-36,800/MT FoR Raipur.
— Central India (Raigarh) based mill owners are buying steel grade Pig iron from Rourkela (Odisha) at INR 29,500/MT on FoR basis & excluding GST.
— Jharsuguda, Odisha based Shyam Metaliks has offered – P-DRI at around INR 19,500/MT & Billet at INR 36,300-36,400/MT; ex-plant & excluding GST
— BMM Ispat in Karnataka has offered sponge P-DRI at INR 19,800-19,900/MT and Sunvik Steel’s sponge C-DRI lumps at INR 20,300/MT. Both offers for FeM 80, excluding GST & ex-plant.
— BIOP Steels in South India has offered FeM 80 & 82 C-DRI lumps at INR 20,400/MT & INR 20,800/MT ex-plant, Karnataka; an official reported.
— As per Rolling mills in Nepal they are receiving more number of calls from Durgapur, East India to purchase billets, it seems that the producers in Durgapur are looking further downtrend in local Billet prices. The last deals by the producers recorded at close to USD 550/MT ex-Durgapur & size 100*100 mm.
Finish Long
— Raipur, Central India based mills have reduced prices of structures (light & heavy sizes) by INR 300-500/MT & Wire rod by INR 200-300/MT due to poor demand, as per participants.
— As per participants, Few Jalna – Maharashtra based Rebar manufacturers offered trade discount by upto INR 500/MT. Current offers for 12-25 mm Rebars at INR 41200-41500/MT ex-plant.
— Guardian TMT based in Mumbai has reduced Rebar prices by INR 400/MT and offered 12mm at INR 40,700/MT ex-plant & excluding GST.
Reference prices as on 8th June 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Mumbai | HMS(80:20) | 26,600 | 26,500 | 26,700 | – 900 | 27,500 | 27,000 |
| Ex-Chennai | HMS(80:20) | 26,400 | 26,300 | 26,500 | 0 | 26,500 | 26,400 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 23,000 | 22,900 | 23,100 | + 300 | 22,500 | 21,700 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 21,100 | 21,000 | 21,200 | – 100 | 21,000 | 20,900 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 22,000 | 21,900 | 22,100 | 0 | 21,700 | 21,800 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 20,400 | 20,200 | 20,500 | 0 | 20,400 | 19,700 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 21,700 | 21,600 | 21,800 | + 400 | 21,000 | 20,400 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 20,100 | 20,000 | 20,200 | – 100 | 19,650 | 19,600 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,600 | 19,500 | 19,700 | – 100 | 19,700 | 18,700 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 20,200 | 20,100 | 20,300 | – 100 | 20,400 | 19,100 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 39,300 | 39,200 | 39,400 | 0 | 39,100 | 37,150 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 36,500 | 36,400 | 36,600 | – 150 | 36,700 | 34,900 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 35,900 | 35,800 | 36,000 | – 250 | 36,200 | 33,900 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 35,500 | 35,400 | 35,600 | – 300 | 36,200 | 33,900 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 36,500 | 36,400 | 36,600 | – 500 | 37,300 | 36,050 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 36,000 | 35,900 | 36,100 | 0 | 36,100 | 36,500 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 35,700 | 35,600 | 35,800 | – 300 | 35,700 | 34,700 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 39,800 | 39,700 | 40,000 | 0 | 39,800 | 38,000 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 36,900 | 36,800 | 37,000 | – 100 | 37,200 | 35,400 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 36,500 | 36,400 | 36,600 | – 200 | 36,500 | 34,800 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 36,600 | 36,500 | 36,700 | – 400 | 37,300 | 35,000 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 36,700 | 36,600 | 36,800 | – 500 | 37,800 | 36,750 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 36,500 | 36,400 | 36,600 | 0 | 36,700 | 37,000 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 36,000 | 35,900 | 36,100 | – 250 | 36,000 | 35,000 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 44,500 | 44,300 | 44,700 | 0 | 44,600 | 40,800 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 41,500 | 41,300 | 41,800 | – 300 | 42,000 | 40,450 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 41,400 | 41,200 | 41,600 | – 100 | 41,600 | 39,100 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 40,700 | 40,200 | 41,200 | – 400 | 41,100 | 40,700 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 41,000 | 40,800 | 41,200 | 0 | 41,000 | 41,500 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 40,500 | 40,300 | 40,700 | – 300 | 40,500 | 39,500 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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