In the week opening, Indian Billet prices remain on down trend due to limited inquiries and as per assessment the prices fall by INR 200-700/MT (USD 3-10) day-on-day. However Sponge iron prices slightly fluctuates by INR 100-200/MT in major markets.
The industry participants in Central region mentioned that, Billet prices to remain under pressure as soon to furnaces in Raigarh resume operation with power resumption by Jindal Steel. Similarly in East India – Odisha & West Bengal, where the weak demand for exports from Nepal have pressurized producers to deal with buyers choice on reduce prices.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 34,700-38,600/MT (USD 510-568) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 19,500-22,300/MT (USD 286-328); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 25th June 2018 (Monday) INR to USD exchange rate stood at INR 68.09
— BSE Sensex closed at 35,470(-219) on Monday, as against last day (Friday) at 35,689(+257)
Raw material
— Iron ore dispatches from Odisha have increased by 14% M-o-M in May’18 & stood at 6.10 MnT as against to 5.35 MnT in Apr’18.
— Melting scrap offers in Western India- Jalna, Maharashtra fall by INR 600/MT in a day trade activities.
Semi finished
— Neelachal Ispat Nigam Ltd (NINL), India’s largest and state owned steel grade pig iron manufacturer & exporter has reduced pig iron prices by INR 400/MT (USD 16.5). The latest offers for Steel (N1) grade material are assessed at INR 28,500/MT (USD 430) & for Foundry (N2) grade at INR 29,500/MT (USD 477), ex-Cuttack, Odisha.
— RSP (Rourkela Steel Plant) tender held today (25th June’18) to sell about 8,500 MT steel grade Pig iron. The base price of the tender was at INR 28,100/MT and 6,500 MT quantity have been sold out.
— Neo Metaliks in Durgapur – West Bengal has kept offers unaltered and are assessed at INR 29,500-29,700/MT ex-plant. Few small deals concluded at this offers, reported by an official.
— Sources reported few deals for sponge iron exports (78-80 FeM, lumps) at an average price of USD 355/MT CPT Benapole (dry land port of Bangladesh & India) and USD 375/MT CFR Chittagong, Bangladesh.
— Raipur, Central India based Integrated plants offering Sponge P-DRI at INR 19,400-19,500/MT & Sponge DR CLO grade at INR 22,200-22,400/MT ex-plant
— Odisha based Sponge manufacturers reported major deals for Patna, North India.The latest offers of FeM 80 C-DRI (70:30 mix material) reported at INR 20,600-20,800/MT ex-plant & excluding GST
— BMM Ispat, a renowned sponge manufacturer in South India offering FeM 80 P-DRI lumps at INR 19,100-19,200/MT ex-Bellary.
— South India (Bellary) based manufacturers are selling billet mostly to Western region, a trade participant reported
— Hyderabad, South India based manufacturers increased billet offers by INR 500/MT to INR 35,000/MT. Also offering FeM 80 P-DRI & 28 MM Rebar at INR 19,800-20,000/MT & INR 37,000/MT. prices are ex-plant & excluding GST.
Finish Long
— Jalna based Rebar manufacturer – SRJ Peety Steels Pvt Ltd branding Shree Om TMT decreased their prices by around INR 500/MT on day basis and offering basic Rebar at INR 37,200/MT, ex-work & excluding GST.
— Shakti Ferro Alloys in Chennai, unchanged their Rebar offer at INR 40,000/MT (12 mm) & Billet at INR 35,000/MT with advance payment term, ex-work & excluding GST.
— Gujarat based Shreeyam Power & Steel Industries Ltd branding as National TMT has reduced prices by around INR 300-400/MT on basic Rebar at INR 48,200/MT FoR & including GST at 18%, Size – 20 mm.
— Jalna based rebar manufacturer Rajuri Steel Pvt Ltd has decreased their price range by around INR 400-500/MT & current offering basic Rebar at around INR 37,100-37,200/MT, ex-work & excluding GST.
— The suppliers in Raipur have slightly decreased their trade discount on Wire rod by around INR 200/MT to INR 1,200-1,300/MT, size – 5.5 mm.
— North Region based Rathi Steels have reduce their Rebar prices by around INR 1,000/MT from last couple of days and current offering 12 mm at INR 43,900/MT, excluding 18% GST.
— Central Region (Raigarh) based Anjani Steels Limited branding Radhe TMT have decrease price by around INR 500/MT on day basis and currently offer 28 mm Rebar at INR 38,200/MT, ex-work & excluding GST.
— South Region Based – Khayati Steel Industries Pvt Ltd – offering 8 mm Rebars at INR 48,500/MT, ex-work & including GST.
Reference prices as on 25th June 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Mumbai | HMS(80:20) | 25,400 | 25,300 | 25,500 | – 100 | 26,100 | 27,400 |
| Ex-Chennai | HMS(80:20) | 25,000 | 24,900 | 25,100 | – 300 | 26,100 | 26,700 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 22,300 | 22,200 | 22,400 | – 200 | 23,500 | 21,750 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 20,800 | 20,700 | 20,900 | + 100 | 21,000 | 20,800 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 21,500 | 21,400 | 21,600 | 0 | 21,900 | 21,750 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,500 | 19,400 | 19,600 | – 200 | 20,400 | 20,700 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 21,300 | 21,200 | 21,400 | – 100 | 22,300 | 20,300 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 19,500 | 19,400 | 19,600 | + 50 | 20,000 | 19,550 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,000 | 18,900 | 19,000 | 0 | 19,600 | 19,800 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 19,800 | 19,700 | 19,900 | 0 | 20,200 | 20,500 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 38,150 | 38,100 | 38,200 | – 200 | 39,300 | 39,100 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 35,000 | 34,900 | 35,100 | – 200 | 36,700 | 36,200 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 34,000 | 33,900 | 34,100 | – 500 | 36,000 | 35,800 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 34,100 | 34,000 | 34,200 | – 200 | 35,800 | 36,050 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 35,000 | 34,900 | 35,100 | – 300 | 36,600 | 36,600 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 34,700 | 34,600 | 34,800 | 0 | 35,000 | 36,100 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 34,700 | 34,600 | 34,800 | + 500 | 35,700 | 35,700 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 38,600 | 38,500 | 38,800 | – 200 | 39,800 | 39,900 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 35,300 | 35,200 | 35,400 | – 400 | 37,100 | 36,800 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 34,700 | 34,600 | 34,800 | – 400 | 36,200 | 36,300 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 35,150 | 35,100 | 35,200 | – 250 | 36,800 | 37,100 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 35,200 | 35,100 | 35,300 | – 450 | 36,800 | 36,950 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 35,200 | 35,100 | 35,300 | 0 | 35,500 | 36,600 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 35,000 | 34,900 | 35,100 | + 500 | 36,000 | 36,000 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 42,800 | 42,600 | 43,000 | – 800 | 43,800 | 43,800 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 40,500 | 40,300 | 40,700 | – 300 | 41,400 | 41,300 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 39,800 | 39,600 | 40,000 | + 100 | 41,100 | 41,200 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 39,100 | 38,700 | 39,200 | – 400 | 40,200 | 40,600 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 40,300 | 40,100 | 40,600 | 0 | 40,800 | 41,000 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 39,500 | 39,300 | 39,700 | + 250 | 40,500 | 40,500 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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