Today, Indian Semis prices decline marginally, Sponge by INR 100-200/MT & Billet by INR 100-500/MT in major markets except in Western region – Gujarat & Maharashtra where billet prices surge by INR 100-300/MT on improved trade activities.
SteelMint’s price assessments for induction furnaces billet size 125×125 mm are reported at INR 31,300-35,300/MT (USD 489-552) ex-plant.
Further the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 20,200-21,500/MT (USD 316-336); prices are ex-plant & excluding GST.
On 2nd Feb 2018 (Friday) INR to USD exchange rate stood at INR 64.06 & BSE Sensex closed at 35,066 (-839).
Key Market Updates:
1. Rungta Mines – India’s largest private merchant iron ore miner production surge by 4.33% in Dec’17 & Stood at 2.89 MnT against 2.77 MnT in Nov’17.
2. KIOCL has concluded a deal for around 55,000 MT pellet ( grade Fe 64%) export to China at around USD 118-119/MT, CFR China for Feb end shipment- Sources
3. Vizag Steel has invited a tender for export of 11,008 MT bloom followed by 5,504 MT billet to Nepal & the due date for submitting the offer is 13 Feb’18
4. Raipur, Central India based Integrated plants offers reduced by INR 100/MT D-o-D, offering Sponge P-DRI at INR 19,800-20,000/MT ex-plant
5. Rashmi Metaliks in Durgapur has rolled over sponge prices at INR 20,400-20,500/MT for P-DRI.
6. Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 20,800-21,000/MT & billet at INR 31,000/MT ex-plant.
7. Induction furnace grade billet size 100×100, export offers for Nepal are reported at around USD 493/MT ex-mill, Rourkela & USD 500/MT ex-mill, Durgapur. Medium mills in Durgapur being offered Wire rod 5.5 mm to Nepal at USD 580-585/MT ex-mill.
8. BMM Ispat in South India has kept offers unaltered, offering FeM 80 P-DRI lumps at INR 19,400/MT ex-Bellary, Karnataka.
9. Finish long steel production in India surge by 5.18% in 2017 & stood at 44.86 MnT against 42.65 MnT in 2016 – JPC.
10. According to Industry participants the large producers are planning to further raise long steel prices by INR 1,000-2,000/MT for Feb’18 deliveries.
11. The big plants in Raipur & Durgapur have reduced Wire rod prices by INR 200-300/MT. Trade discounts on Wire rod in Raipur by market participants are reported at INR 1,500-1,700/MT.
12. Mumbai, Maharashtra based Guardian TMT has raised rebar prices by INR 300/MT & SRMM (Ghasiram) structure prices increased by INR 200/MT; day on day.
13. Sangam TMT based in Wardha – Maharashtra rolled over rebar prices and are reported 12 mm at INR 36,500/MT ex-plant. According to the officials demand is good and are indicated prices to increase soon.
Reference prices as on 2nd February 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 | – 100 | 21,600 | 22,200 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 20,800 | 20,700 | 20,900 | 0 | 21,000 | 21,500 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 21,200 | 21,100 | 21,300 | – 100 | 21,500 | 22,400 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 20,200 | 20,100 | 20,300 | 0 | 20,700 | 20,700 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 20,500 | 20,400 | 20,600 | – 100 | 20,600 | 21,200 |
| Ex-Jharsugda | Lumps, FeM 78%, +/-1 | 19,300 | 19,200 | 19,400 | – 100 | NA | 20,500 | |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 19,900 | 19,800 | 20,000 | – 100 | 20,300 | 21,100 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,300 | 19,200 | 19,400 | – 100 | 20,000 | 20,200 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 19,600 | 19,500 | 19,700 | – 200 | 20,700 | 20,200 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 34,600 | 34,500 | 34,700 | 0 | 33,900 | 34,000 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 31,500 | 31,400 | 31,600 | – 100 | 31,300 | 32,000 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 30,850 | 30,800 | 30,900 | – 100 | 31,000 | 31,300 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 31,500 | 31,400 | 31,600 | – 100 | 31,700 | 32,000 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 34,250 | 34,200 | 34,300 | + 250 | 34,200 | 34,500 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 34,000 | 34,000 | 34,200 | 0 | 34,000 | 34,000 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 33,000 | 33,000 | 33,500 | – 500 | 34,500 | 35,000 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 35,300 | 35,200 | 35,400 | + 100 | 34,700 | 34,500 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 32,100 | 32,000 | 32,200 | 0 | 31,800 | 32,200 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 31,300 | 31,200 | 31,400 | – 100 | 31,500 | 32,100 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 32,200 | 32,100 | 32,300 | – 100 | 32,500 | 32,900 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 34,500 | 34,400 | 34,500 | + 300 | 34,400 | 34,800 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 34,500 | 34,250 | 34,750 | 0 | 34,500 | 34,500 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 33,000 | 33,000 | 33,500 | – 500 | 34,500 | 35,000 | |
| TMT | Ex-Delhi/NCR | 12MM | 37,900 | 37,700 | 38,100 | – 300 | 38,200 | 39,200 |
| Ex-Durgapur | 12MM | 36,300 | 36,100 | 36,500 | 0 | 35,900 | 36,100 | |
| Ex-Raipur | 12MM | 35,900 | 35,700 | 36,100 | – 100 | 36,200 | 36,700 | |
| Ex-Mumbai | 12MM | 38,900 | 38,500 | 39,000 | + 300 | 39,300 | 38,800 | |
| Ex-Chennai | 12MM | 39,000 | 38,800 | 39,500 | 0 | 39,500 | 38,400 | |
| Ex-Hyderabad | 12MM | 37,200 | 37,000 | 37,400 | 0 | 37,700 | 38,200 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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