Indian Semi finished prices remained rally on strong inquiries and as per SteelMint assessment, today the prices of Sponge iron & Billet have increased by INR 200-600/MT (USD 3-9).
The latest price assessment for induction furnaces billet in Indian market stood at INR 33,400-37,400/MT (USD 513-576) ex-plant. Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 20,500-22,400/MT (USD 315-345); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 10th Apr 2018 (Tuesday) INR to USD exchange rate stood at INR 64.97.
— BSE Sensex closed at 33,880(+91) on Tuesday, as against last day (Monday) at 33,370(+115).
Raw materials
— National Mineral Development Corporation (NMDC) is going to conduct an e-auction of 180,000 MT Iron Ore from Chhattisgarh Mines. The due date for bid submission is 13rd Apr’18.
— Rungta Mines – India’s largest private merchant miner’s, dispatches increased by 25% against 16.75 MnT in FY’17.
— Bhushan Steel’s pellet procurement in FY’18 stood at 126 rakes, down 28% as against 174 rakes in FY’17
Semi finished
— Raipur, Central India based Integrated plants offers increased by INR 200/MT D-o-D, offering Sponge P-DRI at INR 20,100-20,200/MT ex-plant
— Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 20,400-20,500/MT & billet at INR 33,200-33,200/MT ex-plant.
— Ramgarh, Jharkhand based Aloke Steel Industries offered FeM 79-80 C-DRI lumps at INR 20,800/MT & Sponge mix material (60:40) at INR 20,400/MT ex-plant
— Odisha based sponge manufacturers offered 79-80 FeM C-DRI lumps at INR 22,000/MT FoR Raipur & excluding GST. Meanwhile, local manufacturers in Raipur being offered C-DRI (0-20mm) at INR 21,700-21,900/MT ex-plant.
— Ganesh Metaliks based in Rourkela, Odisha has increased Billet offers by INR 300-400/MT to INR 33,400/MT ex-plant. Majorly deals concluded for Patna (Bihar) market, an official reported
— BMM Ispat in South India has kept offers unaltered, offering FeM 80 P-DRI lumps at INR 19,600-19,700/MT ex-Bellary, Karnataka.
— South India based Cauvery Iron & Steel offers FeM 80 P-DRI & billet at INR 20,800/MT & INR 35,500/MT ex-plant, respectively. Also offering 28 MM Rebars at INR 37,500/MT. prices are ex-plant & excluding GST.
— The private Pig iron producers in Central & East India have increased prices by INR 200-500/MT (USD 3-8) in couple of days. The current offers for Steel grade Pig iron evaluated at INR 29,800-30,000/MT ex-Durgapur & INR 30,300-30,500/MT ex-Raipur.
Finish Long
— As per trade participants, the medium/small mills in Central India – Raipur who’s producing rebar & structures are running out of stock. Similar comments being recived for Induction furnaces – Ingot/Billet manufacturers.
— Rathi Steels in North India – Delhi have increased rebar price by INR 250/MT today and offers stood at INR 41,900/MT, size – 12 mm & excluding 18% GST.
— Shakti Ferro Alloys in Chennai, South Region has unchanged their offers on day basis & offering currently – Billet at INR 36,000/MT & Rebars at INR 40,500/MT (ex-work), advance payment & excluding GST.
— Raipur Power and Steel Ltd has unchanged their offers of Wire Rod (5.5 MM) at INR 39,200/MT, ex-mill & excluding GST.
— The suppliers in Raipur have slightly decreased trade discount on Wire rod to around INR 800-1,100/MT.
— Jalna based Rebar manufacturers have increased prices by INR 300-400/MT with rising Billet prices along with improved demand. Offers for 12 mm Rebars reported at INR 39,100-39,300/MT ex-work & excluding GST.
Reference prices as on 10th April 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Chennai | HMS(80:20) | 25,700 | 25,600 | 25,800 | 0 | 25,700 | 26200 |
| Ex-Mumbai | HMS(80:20) | 26,000 | 25,900 | 26,100 | 0 | 25,500 | 25400 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 20,500 | 20,400 | 20,600 | + 200 | 19,500 | 21100 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 20,600 | 20,500 | 20,700 | + 100 | 19,900 | 20200 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 22,000 | 21,900 | 22,100 | + 300 | 21,300 | 21400 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 20,500 | 20,400 | 20,600 | + 100 | 20,300 | 20900 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 19,000 | 18,900 | 19,100 | + 200 | 18,100 | 20000 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 20,100 | 20,000 | 20,200 | + 200 | 19,600 | 19700 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,800 | 19,700 | 19,900 | + 100 | 19,700 | 20100 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 20,700 | 20,600 | 20,800 | + 100 | 20,600 | 20600 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 36,800 | 36,700 | 36,900 | + 300 | 35,600 | 34500 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 34,000 | 33,900 | 34,100 | + 300 | 32,500 | 32500 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 33,000 | 32,900 | 33,000 | + 500 | 31,800 | 31100 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 33,550 | 33,500 | 33,600 | + 350 | 32,550 | 31600 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 35,500 | 35,400 | 34,600 | – 100 | 34,800 | 34200 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 36,000 | 35,900 | 36,100 | 0 | 35,700 | 36000 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 35,200 | 35,100 | 35,300 | + 500 | 33,700 | 33800 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 37,400 | 37,300 | 37,600 | + 300 | 36,200 | 35300 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 34,500 | 34,500 | 34,600 | + 300 | 32,700 | 32900 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 33,400 | 33,300 | 33,500 | + 400 | 32,300 | 32000 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 34,400 | 34,300 | 34,500 | + 500 | 33,100 | 32500 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 35,700 | 35,600 | 35,800 | – 100 | 35,000 | 34400 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 36,500 | 36,400 | 36,600 | 0 | 36,200 | 36500 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 35,500 | 35,300 | 35,500 | + 500 | 34,000 | 34000 | |
| TMT | Ex-Delhi/NCR | 12MM | 40,100 | 38,900 | 40,200 | + 200 | 38,900 | 38000 |
| Ex-Durgapur | 12MM | 39,000 | 38,800 | 39,200 | + 300 | 37,800 | 37700 | |
| Ex-Raipur | 12MM | 38,200 | 38,000 | 38,400 | + 600 | 36,900 | 36300 | |
| Ex-Mumbai | 12MM | 39,600 | 39,200 | 39,700 | 0 | 38,800 | 38000 | |
| Ex-Chennai | 12MM | 41,000 | 40,700 | 41,100 | 0 | 41,000 | 40500 | |
| Ex-Hyderabad | 12MM | 40,000 | 39,800 | 40,200 | 0 | 39,500 | 39500 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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