Indian Semis prices decline over subdued trade inquiries and low buying interest at high offers. As per SteelMint assessment the prices of billet declined by INR 200-700/MT while Sponge iron prices have fluctuated by INR 100-300/MT D-o-D
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 33,000-36,700/MT (USD 472-525) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 20,800-24,000/MT (USD 297-343); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 21st August 2018 (Tuesday) INR to USD exchange rate stood at INR 69.87
— BSE Sensex closed at 38,285(+7) on Tuesday, as against last day (Monday) at 38,278(+330).
Raw Materials
—Raipur (Central India) pellet price assessment have hit 3.5 years high. Deals have been reported at INR 7,500/MT (basic) following which offers have increased to INR 7,700/MT.
—Durgapur pellet prices increased to INR 7,500/MT, up by INR 300-400/MT W-o-W.
Semi Finished
— Neelachal Ispat Nigam Ltd (NINL) has extended the validity for the domestic pig iron price circular to 24th August. The latest offers for Steel (N1) grade material are assessed at INR 28,100/MT (USD 402), ex-Cuttack, Odisha.
— As per participants, induction grade billet export deals conclude to Nepal at USD 495-497/MT ex-mill, Durgapur & USD 490/MT loaded to rake, Odisha.
— Girdih based Atibir Industries, a Pig iron producer has kept offers firm amid average inquiries. The steel grade trades are reported at INR 29,000-29,500/MT ex-plant & excluding GST.
— Durgapur based Neo Metaliks has reported latest offers for steel grade Pig iron at around INR 29,800-30,000/MT against last trading at INR 29,400-29,500/MT ex-plant
— Ludhiana, North India based trade participants reported steel grade pig iron offers at INR 31,500/MT & foundry grade at INR 34,700/MT on FoR basis & excluding 18% GST. Prices incline by INR 200/MT against our last assessment.
— Raipur, Central India based Integrated plants offering Sponge P-DRI at INR 22,700-22,900/MT & Sponge DR CLO grade at INR 25,000-25,200/MT ex-plant
— Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 22,500/MT & Billet at INR 33,400-33,500/MT ex-plant.
— Apple Industries in Bellary (Karnataka) offered Sponge FeM 82 C-DRI lump at INR 21,500/MT & Billet at INR 34,600/MT ex-plant.
— 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.
— South India (Telangana) based Cauvery Iron & Steel offers FeM 80 P-DRI & Billet at INR 20,700/MT & INR 34,500/MT. Also offering 28 MM Rebar at INR 35,500/MT. All prices are ex-plant & excluding GST.
Finish Long
— Gujarat based Akshar TMT has reduced their prices by INR 400/MT on day basis & current offering rebar at INR 46,800/MT FoR & including GST at 18%, Size – 20 mm.
— East region based – Baba Smelter Pvt. Ltd has unchanged their Structure offers on day basis & current (125,150 Channel) offering at INR 39,750/MT, ex-work, excluding GST.
— Jalna based rebar manufacturers reduced their prices by around INR 500-600/MT day-on-day and current offering range 28 mm rebar at INR 35,600-35,800/MT, ex-work & excluding GST.
— Central region, Raipur based brand – SPEED TMT has decreased their price by INR 400/MT D-o-D and current offering at INR 35,200/MT (28 mm), ex-work & excluding GST.
— Gujarat based Shreeyam Power & Steel Industries Ltd decreased their offers by around INR 200/MT on day basis & current offering TMT at INR 46,800/MT FoR & including GST at 18%, Size – 20 mm, Billet at 35,500/MT, excluding GST.
— Rathi Steels in North region offering at INR 40,700/MT, size – 12 mm & excluding 18% GST.
Reference prices as on 21st August 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Mumbai | HMS(80:20) | 25,400 | 25,300 | 25,500 | + 200 | 24,900 | 24,500 |
| Ex-Chennai | HMS(80:20) | 23,800 | 23,700 | 23,900 | + 200 | 23,300 | 22,600 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 24,000 | 23,900 | 24,100 | – 100 | 23,600 | 20,300 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 22,500 | 22,400 | 22,600 | 0 | 21,900 | 20,600 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 24,000 | 23,900 | 24,000 | 0 | 23,200 | 21,700 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 20,800 | 20,700 | 20,900 | 0 | 20,200 | 18,900 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 22,800 | 22,700 | 22,900 | – 300 | 22,400 | 19,100 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 22,800 | 22,700 | 22,900 | 0 | 22,100 | 19,800 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 20,100 | 20,000 | 20,200 | + 100 | 19,300 | 18,300 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 20,600 | 20,500 | 20,700 | + 100 | 19,800 | 18,800 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 36,200 | 36,100 | 36,300 | – 600 | 36,400 | 33,800 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 34,200 | 34,100 | 34,300 | – 300 | 33,300 | 30,700 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 32,500 | 32,400 | 32,500 | – 500 | 32,100 | 30,100 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 32,900 | 32,800 | 33,000 | – 400 | 33,000 | 30,400 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 34,000 | 33,900 | 34,100 | – 200 | 33,750 | 31,400 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 35,200 | 35,000 | 35,200 | – 300 | 35,600 | 33,500 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 34,200 | 34,100 | 34,300 | – 500 | 34,200 | 33,200 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 36,700 | 36,600 | 36,800 | – 600 | 36,900 | 34,300 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 34,800 | 34,700 | 34,900 | – 300 | 34,000 | 31,300 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 33,400 | 33,300 | 33,500 | – 300 | 32,900 | 30,900 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 33,600 | 33,500 | 33,700 | – 700 | 33,600 | 31,150 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 34,250 | 34,200 | 34,300 | – 150 | 34,100 | 31,750 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 35,700 | 35,500 | 35,700 | – 300 | 36,100 | 34,000 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 34,500 | 34,400 | 34,600 | – 500 | 34,500 | 33,500 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 39,400 | 39,200 | 39,600 | – 100 | 38,200 | 37,400 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 38,200 | 38,000 | 38,600 | – 100 | 37,000 | 35,500 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 37,300 | 37,100 | 37,400 | – 300 | 36,500 | 34,900 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 38,100 | 37,700 | 38,200 | – 500 | 37,800 | 35,800 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 39,900 | 39,700 | 40,000 | – 300 | 40,200 | 38,900 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 38,000 | 37,800 | 38,200 | – 500 | 38,000 | 38,000 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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