Indian Semi finished prices increase further over strong trade activities. As per SteelMint assessment, the prices surge for Sponge iron by INR 100-200/MT & Billet upto INR 500/MT day-on-day.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 35,800-39,800/MT (USD 523-582) ex-plant. Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 20,600-22,000/MT (USD 301-322); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 23rd May 2018 (Wednesday) INR to USD exchange rate stood at INR 68.42
— BSE Sensex closed at 34,344(-306) on Wednesday, as against last day (Tuesday) at 34,651(+35).
Key Updates
— NMDC (C.G.) increases iron ore prices by INR 100-170/MT. Baila lump(Fe 65%)- INR 3,050/MT; Baila fines(Fe 64%)- INR 2,660/MT; DR CLO(Fe 67%)- INR 3,540/MT & ROM(Fe 65%)- INR 2,810/MT (Royalty, DMF & other taxes extra)
— NMDC witnessed decline in iron ore sales for the month of Apr’18 at 2.22 MnT, down 47% M-o-M as compared to 4.15 MnT in Mar’18.
— NINL reduced Pig iron prices for Steel grade by INR 500/MT and latest offers evaluated at INR 30,000/MT ex-Cuttack, Odisha. Bulk purchase discount remain unchanged at INR 200-400/MT
— Steel grade Pig iron prices unaltered in Raipur at INR 30,700-31,000/MT & in Durgapur at INR 31,000-31,300/MT; ex-plant & excluding GST. As per suppliers trade activities average at current offers.
— As per sources, less supply of Sponge DR-CLO in Raipur due to some shortage of DR-CLO grade Iron ore with the manufacturers. Today’s quote for Sponge DR-CLO (size 0-20mm) assessed at INR 23,000-23,200/MT ex-plant. Thus, the big plants also raised Sponge P-DRI prices to INR 19,800-19,900/MT as against last day at INR 19,600-19,800/MT.
— As per Ingot/Billet manufacturers in Jindal’s punjipatra-Raigarh area (Central India), power supply have been reduced to 8 hrs from earlier about 16 hrs per day.
— Rashmi Metaliks in Durgapur, known as price trend setter, has slightly raised its prices and the latest prices heard for Sponge P-DRI at INR 20,300-20,400/MT & Billets at INR 36,700-36,800/MT – Sources.
— Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 21,000/MT & billet at INR 36,000/MT ex-plant. As per officials, recently export deal of 2 rakes billet to Nepal at around USD 535/MT (Loaded to wagon).
— BMM Ispat in South India (Karnataka) has increased offers for FeM 80 P-DRI by INR 300/MT to INR 19,800/MT ex-Bellary, an official reported.
— BIOP Steels in South India has increased sponge offers by around INR 100/MT, offering FeM 80 & 82 C-DRI lumps at INR 20,700/MT & INR 21,100/MT ex-plant, Karnataka; an official reported.
— The medium mills in Raipur, Central India reported good demand in Rebars & Structures and have increased prices for both by INR 200-500/MT (USD 3-6).
— Rathi Steels, one of the major producer of Rebars in North India has further increased prices by INR 500/MT and the latest price stood at INR 44,300/MT for 12mm & excluding GST.
— The suppliers in Raipur have kept unchanged trade discount on Wire rod (5.5mm) at around INR 700/MT.
Reference prices as on 23rd May 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Chennai | HMS(80:20) | 26,700 | 26,600 | 26,800 | 0 | 26,700 | 26,300 |
| Ex-Mumbai | HMS(80:20) | 27,600 | 27,500 | 27,600 | 0 | 27,700 | 26,000 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 21,750 | 21,700 | 21,800 | + 50 | 21,400 | 21,900 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 21,000 | 20,900 | 21,000 | + 100 | 20,700 | 21,000 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 22,000 | 21,900 | 22,100 | + 100 | 21,950 | 22,000 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 20,700 | 20,600 | 20,800 | + 200 | 19,800 | 19,900 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 20,350 | 20,300 | 20,400 | + 50 | 20,100 | 20,500 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 19,800 | 19,700 | 19,900 | + 100 | 19,700 | 19,900 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,700 | 19,600 | 19,800 | + 200 | 18,900 | 19,000 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 20,300 | 20,200 | 20,400 | 0 | 19,400 | 19,900 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 39,000 | 38,900 | 39,100 | 0 | 38,000 | 37,700 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 36,100 | 36,000 | 36,200 | + 300 | 34,900 | 35,500 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 35,200 | 35,100 | 35,300 | + 200 | 34,100 | 34,600 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 35,800 | 35,700 | 35,900 | + 400 | 34,500 | 34,650 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 36,400 | 36,300 | 36,500 | + 100 | 35,900 | 36,300 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 35,300 | 35,200 | 35,400 | 0 | 36,500 | 36,500 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 36,200 | 36,100 | 36,300 | + 500 | 34,700 | 36,200 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 39,800 | 39,700 | 39,900 | + 100 | 38,700 | 38,400 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 36,700 | 36,600 | 36,800 | + 200 | 35,400 | 36,000 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 36,000 | 35,900 | 36,100 | + 400 | 34,800 | 35,000 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 37,000 | 36,900 | 37,100 | + 300 | 35,500 | 35,500 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 37,000 | 36,900 | 37,100 | + 200 | 36,500 | 36,500 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 35,800 | 35,700 | 35,900 | 0 | 37,000 | 37,000 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 36,500 | 36,400 | 36,600 | + 500 | 35,000 | 36,500 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 415/500 Fe | 43,000 | 42,800 | 43,000 | + 500 | 41,100 | 41,200 |
| Ex-Durgapur | 12-25 MM, IS 1786- 415/500 Fe | 41,500 | 41,300 | 41,700 | + 450 | 40,000 | 40,300 | |
| Ex-Raipur | 12-25 MM, IS 1786- 415/500 Fe | 40,800 | 40,600 | 41,000 | + 400 | 39,500 | 39,300 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 415/500 Fe | 40,8.00 | 40,400 | 40,900 | + 200 | 40,600 | 40,100 | |
| Ex-Chennai | 12-25 MM, IS 1786- 415/500 Fe | 40,600 | 40,400 | 40,800 | 0 | 41,600 | 41,000 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 415/500 Fe | 41,000 | 40,800 | 41,200 | + 500 | 39,500 | 41,000 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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