Indian Steel prices increase further on day trade activities on improved inquiries. The prices of Billet have increased about INR 400-1,000/MT (USD 5-14) & Sponge iron by INR 300-600/MT (USD 4-9), day-on-day.
Major price rise seen in billet by around INR 1,000/MT in Ahmedabad, West India due to rise in Scrap prices.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 33,300-37,500/MT (USD 473-533) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 20,400-23,900/MT (USD 290-340); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 16th August 2018 (Thursday) INR to USD exchange rate stood at INR 70.30
— BSE Sensex closed at 37,663(-188) on Thursday, as against last day (Tuesday) at 37,852(+207).
Raw Materials
— Raipur (central India) based few major pellet makers have kept their sales closed after making decent bookings in exports. Current price assessment stands at INR 7,000/MT (GST extra)
— Essar Steel – an integrated steelmaker has recorded iron ore imports at 0.29 MnT in July, up more than twice on monthly basis as against being 0.11 MnT in June’18.
— According to the latest assessment of Coking coal, spot prices of the Premium HCC, Australia have increased by around USD 3/MT W-o-W & assessed at USD 199/MT CNF India
— Local manufacturers in Raigarh are offering 60-14 Silico Manganese at around INR 63,000-63,500/MT ex-plant.
Semi Finished
— MMTC cancels Pig iron export tender of 30,000 MT (C: 3.6-4.3%; Si: up to 1.24%; Mn < 1%, S: 0.05% max; P: 0.2% Max) owing to high expectations, whose due date for submission of bids was on 10 Aug’18.
— Raipur, Central India based Integrated plants have increased offers by INR 600/MT day-on-day and offering Sponge P-DRI at INR 22,600-22,800/MT ex-plant.
— Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 22,200/MT & Billet at INR 33,200/MT ex-plant.
— BMM Ispat in South India (Karnataka) has increased offers for FeM 80 P-DRI by INR 200/MT to INR 19,500-19,600/MT ex-Bellary, an official reported.
— Hare Krishna, a 300 TPD sponge manufacturer in Bellary, Karnataka has offered FeM 80 P-DRI at INR 19,600-19,800/MT ex-plant, an official reported.
— South India (Telangana) based Cauvery Iron & Steel offers FeM 80 P-DRI & Billet at INR 20,200/MT & INR 35,000/MT. Also offering 28 MM Rebar at INR 36,000/MT. All prices are ex-plant & excluding GST.
Finish Long
— Central region, Raipur based brand – SPEED TMT has increased their price by INR 600/MT on daily basis and current offering at INR 35,100/MT (28 mm), ex-work & excluding GST.
— Central region (Raigarh) based Anjani Steels Limited branding Radhe TMT increased their prices more than INR 1,000 /MT on day basis and currently offer basic rebar at INR 35,000/MT (Size – 28 MM), ex-work & excluding GST. As per sources, few other brands hovering at INR 35,400-35,600/MT.
— Gujarat based Shreeyam Power & Steel Industries Ltd increased their offers at around INR 1,200/MT on day basis & offering TMT at INR 46,800/MT FoR & including GST at 18%, Size – 20 mm, Billet at 35,800/MT, excluding GST.
— East region based – Baba Smelter Pvt. Ltd has unchanged their Structure offers on day basis & current (125,150 Channel) offering at INR 39,250/MT, ex-work, excluding GST.
— Jalna based rebar manufacturer – SRJ Peety Steels Pvt Ltd branding Shree Om TMT increased their prices by INR 200/MT and current offering basic rebar at INR 36,000/MT, ex-work & excluding GST.
— Mumbai, Maharashtra based Guardian TMT has raised rebar prices by INR 300/MT on day basis and current offering 28 mm rebar at INR 34,900/MT, ex-work & excluding GST.
— The suppliers in Raipur have decreased trade discount on Wire rod and current discount range at INR 400-500/MT. Wire rod prices in Raipur & Durgapur surge by INR 700-900/MT in a day.
Reference prices as on 16th August 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Mumbai | HMS(80:20) | 25,100 | 25,000 | 25,300 | + 200 | NA | 24,500 |
| Ex-Chennai | HMS(80:20) | 23,600 | 23,500 | 23,800 | + 300 | 23,000 | 22,600 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 23,900 | 23,800 | 24,000 | + 300 | 23,600 | 20,400 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 22,200 | 22,100 | 22,300 | + 300 | 21,900 | 20,600 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 23,550 | 23,500 | 23,600 | + 350 | 23,100 | 21,800 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 20,400 | 20,300 | 20,500 | + 200 | 20,300 | 19,300 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 22,800 | 22,700 | 22,900 | + 400 | 22,400 | 19,200 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 22,700 | 22,600 | 22,800 | + 600 | 21,750 | 19,900 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,600 | 19,500 | 19,800 | + 300 | 19,500 | 18,600 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 20,100 | 20,000 | 20,200 | + 300 | 19,900 | 19,000 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 36,950 | 36,900 | 37,000 | + 550 | 35,800 | 34,200 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 33,900 | 33,800 | 34,000 | + 600 | 33,200 | 31,100 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 32,700 | 32,600 | 32,800 | + 600 | 32,000 | 30,500 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 33,400 | 33,300 | 33,500 | + 400 | 32,500 | 31,000 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 34,300 | 34,200 | 34,400 | + 550 | NA | 31,450 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 35,600 | 35,500 | 35,700 | 0 | 35,300 | 33,500 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 34,700 | 34,600 | 34,800 | + 500 | 34,700 | 33,200 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 37,450 | 37,400 | 37,500 | + 550 | 36,200 | 34,700 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 34,400 | 34,300 | 34,500 | + 400 | 33,700 | 31,600 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 33,300 | 33,200 | 33,400 | + 400 | 32,800 | 31,200 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 34,200 | 34,100 | 34,300 | + 600 | 33,300 | 31,600 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 34,500 | 34,400 | 34,600 | + 400 | NA | 31,800 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 36,100 | 36,000 | 36,200 | 0 | 35,800 | 34,000 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 35,000 | 34,900 | 35,100 | + 500 | 35,000 | 33,500 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 38,600 | 38,400 | 38,800 | + 400 | 38,700 | 38,500 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 37,500 | 37,300 | 37,700 | + 500 | 36,800 | 36,100 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 37,100 | 37,000 | 37,300 | + 600 | 36,600 | 35,400 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 38,100 | 37,700 | 38,200 | + 300 | 38,200 | 35,800 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 40,300 | 40,100 | 40,500 | + 100 | 40,000 | 39,200 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 38,500 | 38,300 | 38,700 | + 500 | 38,700 | 38,000 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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