Indian Semis market today reported mix trends as prices fluctuated by INR 100-300/MT. By the evening of the day the trade activities were improved in most of the major markets and prices started to gain.
SteelMint’s price assessment for induction furnaces billet size 125×125 mm are reported at INR 31,000-34,500/MT (USD 487-542) ex-plant.
Further the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 20,600-21,500/MT (USD 323-338); prices are ex-plant & excluding GST.
Today (Thursday, January 11, 2018) INR to USD exchange rate stood at INR 63.70 & BSE Sensex closed at 34,503 (+70).
Key Market Updates:
1. Department of Mines & Geology (Govt. of Jharkhand) is conducting an e-auction to grant one block of Bhangaon Iron Ore mine on lease in West Singhbhum, Jharkhand.
2. Essar Steel’s iron ore & pellet sourcing decline by 23% M-o-M to 0.96 MnT in Dec’17 compared to 1.24 MnT in Nov’17.
3. Indian pellet manufacturer concludes 50,000 MT export deal at around USD 117.5-118/MT CFR China through tender
4. Raipur, Central India based Integrated plants offered Sponge P-DRI at INR 20,200-20,400/MT ex-plant , which was at INR 20,100-20,300/MT on 10th Jan’17.
5. Jharsugda, Odisha based manufacturer – Bhushan Power & Steel has offers Sponge P-DRI at INR 19,500-19,600/MT ex-plant, according to the officials.
6. BMM Ispat in Karnataka has offered sponge P-DRI at INR 20,100/MT and Sunvik Steels sponge C-DRI lumps at INR 21,200/MT. Both offers for FeM 80, excluding GST & ex-plant basis.
7. Bokaro based Electro Steels a private producer has reduced pig iron prices by INR 300-500/MT and are reported at INR 26,000/MT ex-plant & INR 26,500/MT FoR (landed) Durgapur, excluding 18% GST.
8. Neelachal Ispat (NINL) has raised pig iron prices by INR 4,000/MT against last offers during mid of Dec’17. The latest offers are at INR 28,000/MT for steel (N1) grade & INR 28,500/MT for Foundry (N2) grade, ex-Cuttack, Odisha.
9. Induction furnace grade billet export offers to Nepal are reported at USD 495-500/MT (ex-mill) Durgapur & around USD 340-345/MT (ex-mill) for Sponge iron.
10. Odisha based manufacturer, Ganesh Metaliks offered Billet at INR 31,000/MT ex-plant. trade activities are firm at these offers, according to the officials.
11. Kalika Steel Alloys in Jalna reduced prices by INR 500/MT and offered 28mm rebars at INR 35,000/MT ex-plant & excluding GST.
12. Prakash Ferrous Industries Pvt. Ltd based in Chennai has offered Rebar 12mm at INR 39,000/MT ex-plant & excluding GST
13. Raipur wire rod prices decline today by INR 300-500/MT and fresh offers are stood at INR 37,700/MT ex-plant, meanwhile trade discounts remained firm at INR 1,200-1,500/MT. Offers in Durgapur are assessed at INR 37,000/MT ex-plant.
14. An Jharkhand based private producer reported Wire rod export deal to Nepal at USD 600/MT ex-mill in the early this week. Further, the billet deals being concluded at USD 500/MT on ex-mill basis.
Reference prices as on 11th January 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 21,500 | 21,400 | 21,600 | – 200 | 22,200 | 19,800 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 20,700 | 20,600 | 20,800 | – 300 | 21,700 | 19,200 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 21,400 | 21,300 | 21,500 | 0 | 22,500 | 20,400 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 20,600 | 20,500 | 20,700 | – 200 | 20,800 | 18,700 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 20,500 | 20,400 | 20,600 | – 200 | 21,200 | 18,800 |
| Ex-Jharsugda | Lumps, FeM 78%, +/-1 | 19,500 | 19,500 | 19,600 | NA | 20,600 | 18,200 | |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 20,300 | 20,200 | 20,400 | + 100 | 21,400 | 19,350 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,900 | 19,800 | 20,000 | – 100 | 20,300 | 18,000 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 20,200 | 20,100 | 20,300 | 0 | 20,500 | 18,600 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 33,100 | 33,000 | 33,200 | 0 | 34,200 | 31,600 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 31,300 | 31,200 | 31,400 | 0 | 32,400 | 29,300 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 30,200 | 30,100 | 30,300 | – 200 | 31,600 | 27,950 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 31,000 | 30,900 | 31,100 | + 100 | 32,300 | 28,900 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 33,500 | 33,400 | 33,600 | – 300 | 35,000 | 31,500 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 34,000 | 33,800 | 34,000 | – 250 | 34,000 | 31,000 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 34,000 | 33,500 | 34,000 | 0 | 35,000 | 31,500 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 34,000 | 33,900 | 34,100 | + 100 | 34,700 | 32,100 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 31,600 | 31,500 | 31,700 | – 100 | 32,400 | 29,600 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 31,000 | 30,900 | 31,000 | – 200 | 32,300 | 28,900 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 31,800 | 31,800 | 32,000 | 0 | 33,200 | 29,900 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 33,700 | 33,600 | 33,800 | – 300 | 35,200 | 31,800 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 34,500 | 34,250 | 34,500 | – 250 | 34,500 | 31,500 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 34,000 | 33,500 | 34,000 | 0 | 35,000 | 31,500 | |
| TMT | Ex-Delhi/NCR | 12MM | 37,800 | 37,600 | 38,000 | – 400 | 39,700 | 35,000 |
| Ex-Durgapur | 12MM | 35,500 | 35,300 | 35,700 | 0 | 36,300 | 32,200 | |
| Ex-Raipur | 12MM | 35,600 | 35,400 | 35,800 | 0 | 37,000 | 32,500 | |
| Ex-Mumbai | 12MM | 38,200 | 37,800 | 38,300 | – 500 | 38,800 | 34,800 | |
| Ex-Chennai | 12MM | 38,500 | 38,300 | 38,700 | – 100 | 38,400 | 35,000 | |
| Ex-Hyderabad | 12MM | 36,700 | 36,700 | 37,200 | – 500 | 38,200 | 34,500 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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