Indian Semi finished prices increase further in the week opening up to INR 500/MT (USD 8) following strong inquiries with the manufacturers.
SteelMint’s price assessment for induction furnaces billet size 125×125 mm are reported at INR 32,800-36,700/MT (USD 504-564) ex-plant.
Further the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 20,800-22,700/MT (USD 320-349); prices are ex-plant & excluding GST.
On 5th Mar 2018 (Monday) INR to USD exchange rate stood at INR 65.11 & BSE Sensex closed at 33,746 (-300).
Key Market Updates:
1. Odisha Mining Corporation (OMC), a state-owned miner has scheduled its next e-auction on 07 Mar’18 for 340,000 MT iron ore fines.
2. Odisha Iron ore production decline by 23% M-o-M to 7.42 MnT in Jan’18 against 9.59 MnT in Dec’17
3. RINL (Vizag Steel) has invited a tender for export of 20,000 MT Billets and 20,000 MT Blooms. The due date for bid submission is 6th Mar’18.
4. Raipur, Central India based Integrated plants offer increased by INR 100-200/MT D-o-D, offering Sponge P-DRI at INR 20,400-20,500/MT & Sponge DR CLO grade at INR 22,300-22,500/MT ex-plant.
5. Rashmi Metaliks in Durgapur has offered Sponge P-DRI at INR 21,600/MT & C-DRI at INR 22,700/MT ex-plant, Sources report.
6. Power cut remains continue by JSPL for Punjipatra, Raigarh based EAF/IF & Rolling mills. Hence, production of Ingot/billet continue to lower down.
7. Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 20,800/MT & billet at INR 32,600/MT ex-plant.
8. Odisha based manufacturer, Ganesh Metaliks offered billet at INR 32,800/MT ex-plant for domestic buyers and for Nepal the offers are evaluated at USD 510-512/MT (INR 33,200), ex-mill.
9. BIOP Steels in South India has offered FeM 80 & 82 C-DRI lumps at INR 21,200/MT & 21,700/MT ex-plant, Karnataka; an official reported.
10. South India based Cauvery Iron & Steel offers FeM 80 P-DRI at INR 21,000/MT & Billet at INR 34,500/MT. Also offering 28 MM Rebars at INR 37,500/MT. prices are ex-plant & excluding GST.
11. Bellary, Karnataka based furnace owners selling billet to Bangalore (Karnataka) at INR 35,200-35,400/MT on FoR basis.
12. Prakash Ferrous Industries Pvt. Ltd (Tirumala) based in Chennai has offered Rebar 12mm at INR 41,000/MT, Billet at INR 35,500/MT, ex-plant & excluding GST.
13. Raipur based Wire Rod manufacturers reduce their discount price to INR 700-800/MT as per trade participants.
14. Goa based plants have booked 20 ft containerized melting scrap at USD 360/MT, 20 MT loading from West Africa & arrival period would be approximate after couple of months.
15. Kalika Steel Alloys in Jalna hike their prices by INR 200/MT D-o-D basis and current offering 28mm rebars at INR 37,000/MT ex-plant & excluding GST.
16. Raipur Power and Steel Ltd offering Wire Rod (5.5 MM) at INR 39,000/MT, Ex-Mill & Excluding GST.
17. Rathi Steels in North India – Delhi has increased their price by around INR 300-400/MT today and current offering at INR 40,300/MT, size – 12 mm & excluding 18% GST.
Reference prices as on 5th March 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 22,700 | 22,600 | 22,800 | + 300 | 22,100 | 21,000 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 20,900 | 20,800 | 21,000 | + 300 | 20,500 | 20,500 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 21,600 | 21,500 | 21,700 | + 150 | 21,300 | 21,100 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 21,100 | 21,000 | 21,200 | + 400 | 20,600 | 20,000 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 21,600 | 21,500 | 21,700 | + 300 | 21,100 | 20,000 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 20,400 | 20,300 | 20,500 | + 200 | 19,800 | 19,700 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 20,300 | 20,200 | 20,400 | + 300 | 19,900 | 19,200 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 21,000 | 20,900 | 21,100 | + 300 | 20,600 | 19,600 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 35,900 | 25,800 | 36,000 | + 200 | 35,500 | 34,000 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 33,550 | 33,500 | 33,600 | + 550 | 32,700 | 31,200 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 32,200 | 32,100 | 32,300 | + 600 | 31,500 | 30,300 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 33,000 | 32,900 | 33,100 | + 500 | 32,150 | 31,000 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 35,300 | 35,200 | 35,400 | + 500 | 34,200 | 34,000 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 34,500 | 34,400 | 34,600 | + 500 | 34,000 | 33,500 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 34,200 | 34,000 | 34,300 | + 400 | 33,000 | 33,000 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 36,700 | 36,600 | 36,800 | + 300 | 36,200 | 34,800 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 34,000 | 33,900 | 34,100 | + 500 | 33,200 | 31,700 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 32,800 | 32,700 | 32,900 | + 450 | 32,100 | 31,000 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 33,700 | 33,600 | 33,800 | + 400 | 32,800 | 31,800 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 35,500 | 35,400 | 35,600 | + 500 | 34,400 | 34,200 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 35,000 | 34,800 | 35,200 | + 500 | 34,500 | 34,000 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 34,500 | 34,400 | 34,500 | + 500 | 33,000 | 33,000 | |
| TMT | Ex-Delhi/NCR | 12MM | 39,100 | 38,900 | 39,300 | + 600 | 38,600 | 37,400 |
| Ex-Durgapur | 12MM | 38,300 | 38,100 | 38,500 | + 500 | 37,500 | 36,200 | |
| Ex-Raipur | 12MM | 37,000 | 36,800 | 37,200 | + 400 | 36,200 | 35,600 | |
| Ex-Mumbai | 12MM | 39,200 | 38,800 | 39,300 | + 400 | 38,700 | 38,900 | |
| Ex-Chennai | 12MM | 39,500 | 39,300 | 39,600 | + 700 | 38,800 | 38,500 | |
| Ex-Hyderabad | 12MM | 40,000 | 39,800 | 40,000 | + 500 | 38,500 | 37,200 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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