Indian Semis market assessed further rise and the price hike registered in Billets by INR 100-200/MT & in Sponge iron by INR 100-400/MT.
The market participants mentioned that, shortage of ready dispatch Billets continuous which is a key factor behind price support. Similarly in Sponge iron in which rising prices of raw materials (Iron ore & Pellets) and expected seasonal short supply has made strong trends among sellers & buyers end.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 36,500-40,500/MT (USD 543-604) ex-plant. Further the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 20,400-22,700/MT (USD 304-338); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 5th June 2018 (Tuesday) INR to USD exchange rate stood at INR 67.11
— BSE Sensex closed at 34,903(-108) on Tuesday, as against last day (Monday) at 35,011(-215)
Key Updates
— NMDC is going to conduct an e-auction of 40,000 MT calibrated lump ore, 32,000 MT ROM, 60,000 MT iron ore lump and 36,000 MT iron ore fines from Chhattisgarh Mines. The Last date for submitting the required documents is 07 Jun’18 till 12:00 hrs
— Serajuddin mines has increased iron ore prices by INR 200/MT in lumps and INR 150/MT in fines w.e.f today (5th Jun’18).
— Pellet prices in Durgapur (eastern India) have increased by INR 100/MT W-o-W & stands at INR 6,600/MT (delivered) this week against last week’s assessment of INR 6,500/MT.
— Imported scrap offers to India for HMS 1&2 (80:20) Dubai origin containers stood at around USD 370/MT, CFR Nhava Sheva
— Neelachal Ispat Nigam Ltd (NINL), India’s largest and state owned steel grade pig iron manufacturer & exporter has reduced pig iron prices by INR 1,100/MT (USD 16.5). The latest offers for Steel (N1) grade material are assessed at INR 28,900/MT (USD 430) & Foundry (N2) grade at INR 30,000/MT (USD 477), ex-Cuttack, Odisha.
— After NINL pig iron price reduction by INR 1,100/MT, the private producers in Central & East India also have reduced prices by INR 300-700/MT and the latest offers for steel grade stood at INR 30,000-30,500/MT ex-Durgapur/Jharkhand & INR 30,000/MT in Raipur.
— As per officials – Jindal Steel has reduced prices by INR 500/MT (USD 7.5) and are reported Pooled iron at INR 28,500/MT, Granulated Pig iron (Panther shots) at INR 29,000/MT ex-plant, Odisha & steel grade pig iron at INR 29,800/MT ex-plant, Raigarh.
— Raipur, Central India based Integrated plants have raised Sponge offers by INR 300-400/MT day-on-day and offering Sponge P-DRI at INR 20,300-20,500/MT ex-plant.
— Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 21,000/MT & Billet at INR 37,000/MT ex-plant.
— Odisha based medium size sponge manufacturers offered FeM 80 C-DRI (70:30 mix material) at INR 21,100-21,200/MT ex-plant & excluding GST. Market participants reported prices will support over less productivity & resumption of power supply in Raigarh for new plants (7-8 hrs).
— Raigarh based Singhal Steel offered P-DRI at INR 19,500/MT & Billets at INR 37,000/MT ex- plant, an official reported.
— BMM Ispat a price trend setter in South Indian sponge market has kept offers unaltered today and offering FeM 80 P-DRI lumps at INR 19,800-19,900/MT ex-Bellary, Karnataka.
— Hyderabad, South India based few steel manufacturers increased billet offers to INR 36,500-37,000/MT. Also offering FeM 80 P-DRI & 28 MM Rebar at INR 20,300-20,500/MT & INR 38,500/MT. prices are ex-plant & excluding GST.
Reference prices as on 5th June 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Mumbai | HMS(80:20) | 27,500 | 27,400 | 27,600 | 0 | 27,500 | 26,900 |
| Ex-Chennai | HMS(80:20) | 26,400 | 26,300 | 26,500 | 0 | 26,700 | 26,500 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 22,700 | 22,600 | 22,800 | 0 | 21,900 | 22,300 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 21,100 | 21,000 | 21,200 | 0 | 20,800 | 21,000 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 22,300 | 22,200 | 22,400 | + 400 | 21,750 | 22,000 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 20,400 | 20,300 | 20,500 | 0 | 20,700 | 19,700 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 21,350 | 21,300 | 21,400 | + 150 | 20,450 | 21,000 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 20,300 | 20,200 | 20,400 | + 400 | 19,650 | 19,750 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,800 | 19,700 | 19,900 | 0 | 19,800 | 18,700 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 20,500 | 20,400 | 20,600 | 0 | 20,500 | 19,000 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 39,800 | 39,700 | 39,900 | – 100 | 39,100 | 38,000 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 37,000 | 36,900 | 37,100 | + 100 | 36,400 | 35,500 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 36,400 | 36,300 | 36,500 | + 100 | 35,900 | 34,600 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 36,400 | 36,300 | 36,500 | – 50 | 36,100 | 34,150 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 37,300 | 37,200 | 37,400 | – 200 | 36,800 | 36,200 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 36,000 | 35,900 | 36,100 | + 200 | 36,300 | 36,500 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 36,500 | 36,300 | 36,700 | + 300 | 35,700 | 35,200 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 40,500 | 40,400 | 40,700 | – 100 | 39,900 | 38,700 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 37,500 | 37,400 | 37,600 | + 100 | 37,000 | 36,000 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 36,900 | 36,800 | 37,000 | + 100 | 36,400 | 35,400 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 37,600 | 37,500 | 37,700 | + 100 | 37,250 | 35,400 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 37,550 | 37,500 | 37,600 | – 250 | 37,100 | 36,900 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 36,500 | 36,400 | 36,600 | + 200 | 36,750 | 37,000 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 36,750 | 36,500 | 37,000 | + 250 | 36,000 | 35,500 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 44,600 | 44,400 | 44,800 | 0 | 44,300 | 41,400 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 42,300 | 42,100 | 42,500 | + 200 | 41,550 | 40,700 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 41,900 | 41,700 | 42,100 | – 100 | 41,500 | 39,200 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 41,300 | 40,900 | 41,400 | 0 | 40,700 | 40,600 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 41,000 | 40,800 | 41,200 | 0 | 41,000 | 41,400 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 41,000 | 40,800 | 41,200 | + 200 | 40,500 | 40,000 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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