Indian Semi finished steel prices continue to rally and as per assessment the prices of Billet & Sponge iron soar by INR 200-500/MT (USD 3-7), day-on-day.
The industry participants have reported short supply of Sponge iron owing to which prices constantly rising. The integrated plants in Raipur & Durgapur being confirmed about lessen supply for Pellets & Sponge in open market and indicates further rise in sponge prices.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 35,900-38,500/MT (USD 500-537) and the coal based sponge (78-80 FeM) C-DRI price was at INR 23,300-26,300/MT (USD 325-367); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 5th September 2018 (Wednesday) INR to USD exchange rate stood at INR 71.8
— BSE Sensex closed at 38,018 (-140) on Wednesday, as against last day (Tuesday) at 38,157 (-155).
Key Updates
— KIOCL (Kudremukh Iron Ore Company Limited) has recently concluded a deal of 50,000 MT pellets of Fe 64% grade (less than 2% alumina) at around USD 148/MT, FoB India- Sources.
— According to the latest assessment of Coking coal, spot prices of the Premium HCC are reported at around USD 189/MT FoB Australia & USD 203.5/MT CNF India.
— Imported scrap offers to India for HMS 1&2 (80:20) Dubai origin containers stood at around USD 335/MT, CFR Nhava Sheva
— Raipur based integrated plants have increased sponge prices by INR 200/MT and reported P-DRI at INR 25,000-25,100/MT. Meanwhile, the inductions in Raipur being purchased Sponge C-DRI (70:30 mix material, FeM 79-80) from Odisha at around INR 26,300-26,500/MT FOR.
— Durgapur based Rashmi Metaliks has raised sponge prices by INR 400-500/MT and offers for P-DRI heard at around INR 24,000/MT.
— BMM Ispat in South India (Karnataka) has increased offers for FeM 80 P-DRI by INR 500/MT to INR 23,000/MT ex-Bellary, an official reported.
— BIOP Steels in South India has increased sponge prices by around INR 400/MT, offering FeM 80 & 82 C-DRI lumps at INR 23,500/MT & INR 24,000/MT ex-plant, Karnataka; an official reported.
— Odisha based manufacturer, Ganesh Metaliks increased Billet offers by INR 200/MT to INR 36,000/MT ex-plant, an official reported.Majorly deals concluded for Patna (Bihar) market, an official reported
— The suppliers in Raipur more or less unchanged trade discount on wire rod and today’s discount at INR 400-900/MT.
Reference prices as on 5th September 2018
| Products | Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 25,000 | 24,900 | 25,100 | +400 | 24,500 | 22,600 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 25,000 | 24,900 | 25,100 | +250 | 24,500 | 21,600 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 26,400 | 26,300 | 26,500 | +500 | 25,600 | 23,200 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 23,300 | 23,200 | 23,500 | +300 | 23,100 | 20,100 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 24,000 | 23,900 | 24,100 | +500 | 23,300 | 21,400 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 25,050 | 25,000 | 25,100 | +250 | 24,550 | 21,900 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 22,800 | 22,600 | 23,000 | +400 | 22,700 | 19,400 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 23,300 | 23,200 | 23,500 | +400 | 22,800 | 19,800 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 38,250 | 38,200 | 38,300 | +550 | 37,550 | 35,900 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 36,600 | 36,500 | 36,700 | +350 | 36,000 | 32,700 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 35,000 | 34,900 | 35,100 | +400 | 34,400 | 32,200 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 35,550 | 35,500 | 35,600 | +300 | 34,600 | 32,850 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 36,000 | 35,900 | 36,200 | 0 | 36,800 | 35,100 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 36,700 | 36,600 | 36,800 | +500 | 36,200 | 34,700 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 38,700 | 38,600 | 38,800 | +500 | 38,100 | 36,400 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 37,100 | 37,000 | 37,200 | +300 | 36,500 | 33,200 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 36,000 | 35,900 | 36,100 | +300 | 35,400 | 32,700 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 36,500 | 36,400 | 36,600 | +400 | 35,600 | 33,500 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 36,500 | 36,400 | 36,700 | 0 | 37,300 | 35,600 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 37,000 | 36,900 | 37,100 | +500 | 36,500 | 35,000 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 41,000 | 40,800 | 41,200 | +500 | 41,400 | 38,500 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 41,000 | 40,800 | 41,200 | +500 | 40,500 | 36,400 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 39,500 | 39,300 | 39,600 | +200 | 39,400 | 36,600 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 40,400 | 40,300 | 40,600 | +300 | 40,100 | 38,200 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 41,000 | 40,700 | 41,100 | 0 | 41,200 | 39,800 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 40,500 | 40,300 | 40,700 | +500 | 40,000 | 39,000 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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