Indian Semi finished steel prices have sharply increase today on improved inquiries from domestic buyers and the price rise marked in Billet by INR 200-700/MT (USD 3-10) & Sponge iron by INR 100-400/MT.
As per standalone mills demand continue to remain supported and inventories are limited for Billet & Sponge iron. Hence they indicates further rise in prices in coming days.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 35,500-38,200/MT (USD 497-535) and the coal based sponge (78-80 FeM) C-DRI price was at INR 23,000-25,900/MT (USD 322-363); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 4th September 2018 (Tuesday) INR to USD exchange rate stood at INR 71.4
— BSE Sensex closed at 38,157 (-155) on Tuesday, as against last day (Monday) at 38,312 (-333).
Raw Materials
— Odisha Mining Corporation (OMC) – a state-owned miner is to conduct an e-auction for 465,000 MT iron ore fines on 05 Sept’18, for which base prices have been increased by INR 200-320/MT.
— JSW Steel (Dolvi) sourcing from NMDC decreased sharply by 33% M-o-M to 12 rakes in Aug’18 as against 18 rakes in July’18.
— Pellet prices in Raipur (Central India) cross INR 9,000/MT to hit 4.3 years high on short supply.
— Melting scrap offers in Western India- Gujarat rise by INR 700/MT in a day trade activities.
Semi Finished
— SAIL & Vizag Steel hike Pig iron prices by INR 500/MT (USD 7) for September deliveries. The latest offer for Steel grade reported by SAIL at INR 30,200-30,500/MT Ex-Plant, Durgapur & Vizag Steel at INR 29,000/MT Ex-Plant, Vizag; excluding GST.
— Medium mills export offers to Nepal hovering for Billet at USD 515-518/MT & Wire rod at around USD 585/MT Ex-Mill, Durgapur, East India.
— Raipur, Central India based Integrated plants has raised sponge P-DRI prices to INR 24,800-24,900/MT as against last day at INR 24,500-24,600/MT ex-plant
— Odisha based manufacturer, Ganesh Metaliks offered Billet at INR 35,800/MT ex-plant, an official reported.
— 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 22,500/MT ex-Bellary, Karnataka.
— Hare Krishna, a 300 TPD sponge manufacturer in Bellary, Karnataka has offered FeM 80 P-DRI at INR 22,600-22,800/MT ex-plant, an official reported.
— BIOP Steels in South India has offered FeM 80 & 82 C-DRI lumps at INR 23,100/MT & INR 23,600/MT ex-plant, Karnataka; an official reported.
Finish Long
— The suppliers in Raipur marginally decreased trade discount on wire rod and today’s discount at INR 500-900/MT.
— Central region, Raipur based brand – SPEED TMT has increase their prices by INR 400/MT on day basis and current offering rebar at INR 37,200/MT (28 mm), ex-work & excluding GST.
— South region Based – VRKP Steel Industry Pvt Ltd – VRKP tmt offering rebars at INR 49,700/MT (8 mm), Ex-work & including GST.
— Rathi Steels in North region offering rebar at INR 41,500/MT, size – 12 mm & excluding 18% GST.
— Jalna based rebar manufacturer Bhagyalaxmi Rolling Mill Pvt Ltd branding as Polaad TMT increase their prices by INR 400/MT on day basis and offering basic rebar at INR 37,100/MT, ex-work & excluding GST.
— West Region based Bhagwati Ferro Metal (P) Ltd increased their prices by INR 600/MT on day basis and current offering (28 mm) rebar at INR 37,500/MT for Mumbai, Ex-work & excluding GST.
— Kalika Steel Alloys in Jalna unchanged their prices and current offering 28mm rebars at INR 37,200/MT ex-plant & excluding GST.
— Gujarat based Akshar TMT has increased their prices by INR 400-500/MT on day basis & current offering rebar at INR 48,000/MT FoR & including GST at 18%, Size – 20 mm.
Reference prices as on 4th September 2018
| Products | Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 24,600 | 24,500 | 24,700 | +300 | 24,800 | 22,400 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 24,750 | 24,700 | 24,800 | +250 | 24,500 | 21,400 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 25,900 | 25,800 | 26,000 | +100 | 25,600 | 23,000 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 23,000 | 22,900 | 23,100 | +200 | 23,100 | 20,000 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 23,500 | 23,400 | 23,600 | +300 | 23,700 | 21,200 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 24,800 | 24,700 | 24,900 | +250 | 24,600 | 21,800 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 22,400 | 22,200 | 22,500 | +200 | 22,500 | 19,300 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 22,900 | 22,800 | 23,000 | +100 | 22,700 | 19,600 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 37,700 | 37,600 | 37,700 | +300 | 38,500 | 36,000 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 36,250 | 36,200 | 36,300 | +250 | 36,500 | 32,600 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 34,600 | 34,500 | 34,700 | +300 | 34,600 | 32,100 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 35,250 | 35,200 | 35,300 | +250 | 35,400 | 32,900 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 36,000 | 35,900 | 36,100 | -300 | 36,500 | 34,900 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 36,200 | 36,100 | 36,300 | +500 | 36,700 | 34,700 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 38,200 | 38,100 | 38,300 | +300 | 39,000 | 36,500 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 36,800 | 36,700 | 36,900 | +300 | 37,000 | 33,100 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 35,700 | 35,600 | 35,800 | +400 | 35,600 | 32,500 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 36,100 | 36,000 | 36,200 | +200 | 36,300 | 33,500 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 36,500 | 36,400 | 36,600 | -300 | 37,000 | 35,400 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 36,500 | 36,400 | 36,600 | +500 | 37,000 | 35,000 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 40,500 | 40,300 | 40,700 | 0 | 41,700 | 38,500 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 40,500 | 40,300 | 40,700 | +200 | 40,800 | 36,400 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 39,300 | 39,100 | 39,400 | +500 | 39,400 | 36,600 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 40,100 | 39,700 | 40,200 | 0 | 39,900 | 37,700 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 41,000 | 40,900 | 41,200 | 0 | 41,000 | 39,600 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 40,000 | 39,800 | 40,200 | +500 | 40,500 | 39,000 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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