Today, Indian Steel market observed strong inquiries resulting sharp surge in Semis prices. As per SteelMint assessment, the prices of Sponge iron increased by INR 100-400/MT and Billet prices rose by INR 200-800/MT (USD 3-13) day-on-day.
During the day, major price rise of INR 800/MT in billets have seen in Durgapur, East India due to power crisis. However, in rest of markets the prices increase by INR 100-500/MT.
The renowned producers in Central & East India stated “with the price rise inquiries also strengthened”.
SteelMint’s price assessment for induction furnaces billet size 125×125 mm are stood at INR 32,600-37,000/MT (USD 501-569) ex-plant. And the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 20,000-21,500/MT (USD 307-331); prices are ex-plant & excluding GST.
On 6th Apr 2018 (Friday) INR to USD exchange rate stood at INR 64.98 & BSE Sensex closed at 33,626(+30).
Raw materials
— National Mineral Development Corporation (NMDC) has rolled over the iron ore base prices for Karnataka e-auctions to be held in Apr’18.
— Melting scrap offers in Jalna & Mumbai, Western India- Maharashtra have increased by INR 400-800/MT in a week duration.
Semi finished
— Vizag Steel concludes 20,000 MT bloom export tender. And the tender for 150*150mm bloom has been concluded at USD 505/MT, FoB India and 200*200mm at around USD 495/MT, FoB (10,000 MT each)
— Raipur, Central India based Integrated plants offer increased by INR 100-300/MT D-o-D, offering Sponge P-DRI at INR 19,800-20,000/MT & Sponge DR CLO grade at INR 22,300-22,500/MT ex-plant
— Power cut continues by Jindal for Punjipatra, Raigarh based EAF/IF & Rolling mills about 4-8 hours daily basis, reported by the manufacturers.
— Jharkhand Ispat offered Sponge C-DRI lumps at INR 20,600/MT & Sponge P-DRI at INR 19,000/MT ex-plant, Jharkhand.
— The medium Steel mills in Durgapur, West Bengal have sharply raised prices in line power crisis, the manufacturers reported. The latest billet offers assessed at INR 34,000-34,200/MT which was yesterday traded at around INR 33,200/MT.
— East India based private pig iron producers have increased prices by INR 500-800/MT (USD 8-12) in couple of days. The current offers for Steel grade Pig iron evaluated at INR 28,700-29,000/MT ex-Durgapur & INR 29,300-29,700/MT ex-Raipur.
— Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 20,500/MT & billet at INR 32,800/MT ex-plant.
— Odisha based manufacturer, Ganesh Metaliks has increased billet offers by INR 200/MT to INR 33,000/MT ex-plant. Majorly deals concluded for Patna (Bihar) market, an official reported
— Jharsuguda, Odisha based Shyam Metaliks has offered – P-DRI at around INR 19,000/MT & Billet at INR 32,600-32,700/MT; ex-plant & excluding GST
— BIOP Steels in South India has reduced sponge offers by around INR 100/MT, offering FeM 80 & 82 C-DRI lumps at INR 20,500/MT & INR 20,900/MT ex-plant, Karnataka; an official reported.
Finished Long
— Rathi Steels in North India – Delhi have increased their price by INR 250/MT today and current offering at INR 41,500/MT, size – 12 mm & excluding 18% GST.
— Prime Gold Int’l Ltd in South region offering rebars at INR 42,000/MT (12 mm), Ex-work & excluding GST.
— South India based Tulsyan NEC Steel (Tulsyan) unchanged their price & current offering 12mm Rebars at INR 41,500/MT, ex-plant & excluding GST.
— Raipur Power and Steel Ltd has unchanged their offer of Wire Rod (5.5 MM) at INR 38,700/MT, Ex-Mill & Excluding GST.
— The suppliers in Raipur have slightly increased trade discount on Wire rod to around INR 1,200-1,400/MT.
Reference prices as on 6th April 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Mumbai | HMS(80:20) | 25,600 | 25,500 | 25,700 | 0 | 25,200 | 25,800 |
| Ex-Chennai | HMS(80:20) | 25,700 | 25,600 | 25,800 | 0 | 25,600 | 26,100 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 20,000 | 19,900 | 20,100 | + 300 | 20,000 | 22,100 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 20,300 | 20,200 | 20,400 | + 200 | 20,000 | 20,500 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 21,500 | 21,400 | 21,600 | + 250 | 21,300 | 21,600 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 20,500 | 20,400 | 20,600 | + 100 | 20,000 | 21,100 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 18,500 | 18,400 | 18,600 | + 400 | 18,700 | 21,000 |
| Ex-Jharsugda | Lumps, FeM 78%, +/-1 | 19,000 | 18,900 | 19,100 | + 300 | NA | NA | |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 19,900 | 19,800 | 20,000 | + 150 | 19,550 | 20,000 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,800 | 19,700 | 19,900 | 0 | 19,500 | 20,400 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 20,700 | 20,600 | 20,800 | 0 | 20,300 | 20,800 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 36,350 | 36,300 | 36,400 | + 450 | 35,750 | 35,200 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 33,500 | 33,400 | 33,600 | + 800 | 32,500 | 33,200 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 32,300 | 32,200 | 32,400 | + 300 | 31,650 | 31,800 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 32,950 | 32,900 | 33,000 | + 350 | 32,500 | 32,300 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 35,300 | 35,200 | 35,400 | + 300 | 34,500 | 34,500 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 36,000 | 35,900 | 36,100 | + 100 | 35,200 | 36,000 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 34,200 | 34,100 | 34,300 | – 500 | 33,700 | 33,800 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 37,000 | 36,800 | 37,100 | + 400 | 36,400 | 36,000 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 34,000 | 34,000 | 34,200 | + 800 | 32,800 | 33,500 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 32,800 | 32,700 | 32,900 | + 300 | 32,200 | 32,700 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 33,600 | 33,500 | 33,700 | + 300 | 33,200 | 33,100 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 35,500 | 35,400 | 35,600 | + 300 | 34,700 | 34,700 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 36,500 | 36,400 | 36,600 | + 100 | 35,700 | 36,500 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 34,500 | 34,400 | 34,600 | – 500 | 34,000 | 34,000 | |
| TMT | Ex-Delhi/NCR | 12MM | 39,700 | 38,500 | 39,900 | + 300 | 38,600 | 38,800 |
| Ex-Durgapur | 12MM | 38,500 | 38,300 | 38,700 | + 500 | 37,800 | 38,300 | |
| Ex-Raipur | 12MM | 37,200 | 37,000 | 37,400 | + 200 | 37,100 | 36,600 | |
| Ex-Mumbai | 12MM | 39,000 | 38,600 | 39,100 | + 100 | 38,200 | 38,700 | |
| Ex-Chennai | 12MM | 41,000 | 40,800 | 41,200 | 0 | 40,800 | 40,500 | |
| Ex-Hyderabad | 12MM | 39,500 | 39,300 | 39,700 | – 350 | 39,500 | 39,800 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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