Indian Semi finished steel – Billet & Sponge iron prices fall further on day trade activities due to lessen spot trades, as per industry participants. As per assessment the Billet prices slump by INR 300-1,000/MT & Sponge iron by INR 200-500/MT (USD 3-7).
The major price fall in Billet recorded in Gujarat by INR 1,000/MT followed by Odisha INR 600/MT & West Bengal by INR 500/MT, day-on-day.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 34,900-37,900/MT (USD 480-522) ex-plant. Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 24,100-26,200/MT (USD 332-360); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 11th September 2018 (Tuesday) INR to USD exchange rate stood at INR 72.7
— BSE Sensex closed at 37,413(-509) on Tuesday, as against last day (Monday) at 37,922(-467).
Raw Materials
— Turkey’s ferrous scrap imports up by 4% M-o-M to 1,905,751 MT in Jul’18 as against 1,832,547 MT in Jun’18.
— As per a integrated plant in Raipur near about 5,000 MT iron pellets have been sold to a local market based sponge maker at INR 10,000/MT, ex-plant & excluding taxes. Offers in Durgapur remained firm and are evaluated at INR 9,000/MT ex-plant & excluding taxes.
— Serajuddin Mines- Odisha’s 2nd largest merchant miner, has recorded sharp increase in its iron ore dispatches in Aug’18. The miner dispatched 0.74 MnT in Aug’18, up 57% M-o-M. Steel mills like Bhushan Steel, Bhushan Power & Steel, and Essar Steel increased sourcing from Serajuddin mines sharply in August.
— JSW Steel’s crude steel output stood at 1.44 MnT in Aug’18 witness the growth of 5% on monthly basis against 1.37 MnT in preceding month.
Semi Finish
— As per sponge producers in Raipur (100-300 TPD), limited inquiries for spogne iron at the offers of INR 24,900-25,000/MT for P-DRI, INR 26,300-26,400/MT for C-DRI & INR 27,200-27,400/MT for DR-CLO, ex-plant.
— Rashmi Metaliks in Durgapur has sharply reduced sponge prices by INR 300-400/MT and P-DRI heard at INR 23,900-24,000/MT.
— Neelachal Ispat raises Steel grade Pig iron prices by INR 1,800/MT (USD 25) on strong domestic & export bookings. Company floats another export tender of 30,000 MT pig iron for end October shipment.
— Raigarh based Singhal Steel offered P-DRI at INR 24,000/MT & C-DRI at INR 25,000/MT ex-plant, an official reported.
— As per participants on 10th September more than 2,000 MT Billet export deals concluded for Nepal and the deal price reported at around USD 508-510/MT, ex-plant, Durgapur.
— BMM Ispat a price trend setter in South Indian sponge market has kept offers unaltered today and offered FeM 80 P-DRI lumps at INR 23,700/MT ex-Bellary, Karnataka.
— South India (Telangana) based Cauvery Iron & Steel offers FeM 80 P-DRI & Billet at INR 24,000/MT & INR 37,000/MT. Also offering 28 MM Rebar at INR 38,000/MT. All prices are ex-plant & excluding GST.
Finish Long
— Rathi Steels in North region unchanged their prices on day basis and current offering at INR 41,500/MT, size – 12 mm & excluding 18% GST.
— Central region, Raipur based brand – SPEED TMT decreased their prices by INR 400/MT on day basis and current offering at INR 36,800/MT (28 mm), ex-work & excluding GST.
— Jalna based rebar manufacturer – SRJ Peety Steels Pvt Ltd branding Shree Om TMT decreased their (28 mm) Rebar prices by around INR 500/MT to INR 37,000/MT, ex-work & excluding GST.
–. Shakti Ferro Alloys in Chennai, South region has slightly increase Rebar to INR 42,500/MT (12 mm), Billet at INR 37,500/MT, ex-work & excluding GST.
— South region based Pulkit Steel (Pulkit TMT) unchanged their prices on day basis & current offering at Rebars 12 MM at INR 43,000/MT, ex-plant & excluding GST.
— East region Based – Baba Smelter Pvt. Ltd has unchanged their prices on day basis & current offering Structure (125/150) Channel at INR 42,250/MT, ex-work, excluding GST.
— Raipur Power and Steel Ltd offering Silico Manganese at INR 69,000/MT, Sponge P-DRI at INR 24,800/MT, Pellets at INR 10,000/MT & Wire rod (5.5mm) at INR 41,600/MT, ex-mill & excluding GST.
— The suppliers in Raipur increased trade discount on wire rod and today’s discount at INR 1,000-1,600/MT.
Reference prices as on 11th September 2018
| Products | Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 24,800 | 24,700 | 24,900 | -550 | 24,600 | 23,600 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 24,900 | 24,800 | 25,000 | -300 | 24,750 | 21,900 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 26,200 | 26,100 | 26,300 | -300 | 25,900 | 23,200 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 24,100 | 24,000 | 24,200 | 0 | 23,000 | 20,200 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 23,800 | 23,800 | 23,900 | -550 | 23,500 | 22,400 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 24,800 | 24,700 | 24,900 | -200 | 24,800 | 22,100 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 23,700 | 23,600 | 23,800 | 0 | 22,400 | 19,300 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 24,100 | 24,000 | 24,200 | -100 | 22,900 | 19,800 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 37,500 | 37,400 | 37,600 | -450 | 37,700 | 36,400 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 36,300 | 36,200 | 36,400 | -400 | 36,250 | 33,300 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 34,700 | 34,600 | 34,800 | -400 | 34,600 | 32,100 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 34,400 | 34,300 | 34,500 | -550 | 35,250 | 33,000 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 37,000 | 36,900 | 37,200 | 0 | 36,000 | 35,600 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 36,700 | 36,600 | 36,800 | -300 | 36,200 | 34,200 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 37,900 | 37,800 | 38,000 | -600 | 38,200 | 36,900 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 36,800 | 36,700 | 36,900 | -500 | 36,800 | 34,000 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 35,600 | 35,500 | 35,700 | -600 | 35,700 | 32,900 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 35,400 | 35,300 | 35,500 | -500 | 36,100 | 33,600 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 37,500 | 37,400 | 37,700 | 0 | 36,500 | 36,100 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 37,000 | 36,900 | 37,100 | -300 | 36,500 | 34,500 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 40,300 | 40,100 | 40,500 | -200 | 40,500 | 38,200 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 41,000 | 40,800 | 41,200 | -300 | 40,500 | 37,000 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 38,800 | 38,700 | 39,000 | -400 | 39,300 | 36,500 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 40,800 | 40,400 | 40,900 | -100 | 40,100 | 37,800 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 42,000 | 41,900 | 42,200 | +300 | 41,000 | 40,200 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 40,500 | 40,300 | 40,700 | -200 | 40,000 | 38,000 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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