Today, Indian Semi finished offers rise by INR 100-300/MT, in major markets except in Southern region, where billet prices decline again by INR 200-500/MT on low trade activities.
SteelMint’s price assessments for induction furnaces billet size 125×125 mm are reported at INR 32,400-36,600/MT (USD 500-565) ex-plant.
Further the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 20,600-22,100/MT (USD 318-341); prices are ex-plant & excluding GST.
On 21st Feb 2018 (Wednesday) INR to USD exchange rate stood at INR 64.77 & BSE Sensex closed at 33,844 (+141).
Key Market Updates:
1. JSW Steel’s Iron ore procurement decreased from Karnataka e-auctions by 46% M-o-M to 1.27 MnT in Jan’18 as against 2.36 MnT in Dec’17
2. South Eastern Coalfields Ltd (SECL), the largest coal producing subsidiary of CIL, has maintained the same upper cap for fixing the coal prices in the auctions to be held on Feb’18. Spot e-auction for sales of 887,000 MT coal is to be held on 26 Feb’18; while the Special forward e-auction for power sector is set to conclude one day later i.e. on 28 Feb’18.
3. The private pig iron producers in Durgapur Eastern India, have raised prices to INR 29,000/MT against last week of INR 28,500/MT. The price rise due to less availability amid close sales by few plants.
4. Raipur, Central India based Integrated plants offer increase by INR 100-200/MT D-o-D, offering Sponge P-DRI at INR 20,100-20,300/MT & Sponge DR CLO grade at INR 22,300-22,500/MT ex-plant
5. Rashmi Metaliks in Durgapur has increased sponge prices by INR 100-200/MT and latest offers heard at INR 21,000-21,100/MT for P-DRI.
6. Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 20,700-20,800/MT & billet at INR 32,300/MT ex-plant.
7. Odisha based manufacturers, Mahavir Ferro Alloys offered Billet at INR 32,500/MT ex-plant, trade activities are good in domestic market as per officials.
8. BMM Ispat in South India (Karnataka) has reduced offers for FeM 80 P-DRI by INR 200/MT to INR 19,800/MT ex-Bellary, an official reported.
9. BIOP Steels in South India has offered FeM 80 & 82 C-DRI lumps at INR 20,900/MT & INR 21,400/MT ex-plant, Karnataka.
10. ILC Iron & Steel, a 350 TPD sponge iron manufacturer from Karnataka offered FeM 80 mix (60:40) material sponge at INR 20,600/MT ex-plant. An official reported trade remains weak.
11. The medium steel plants in Ghaziabad have increased heavy structure (Beams & Channels) gauge parity by INR 300/MT in almost all sizes.
12. Raipur based Wire Rod manufactures decreased gauge parity by INR 200/MT to INR 1,900/MT which was earlier at INR 2,100/MT between HB Wire (12 Gauge) to Wire Rod (5.5 mm). The trade discounts on Wire Rod is hovering around INR 1,000-1,200/MT.
Reference prices as on 21st February 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 22,100 | 22,100 | 22,200 | + 100 | 21,850 | 21,500 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 20,700 | 20,600 | 20,700 | + 100 | 20,700 | 20,900 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 21,400 | 21,300 | 21,500 | + 100 | 21,400 | 21,500 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 20,900 | 20,800 | 21,000 | 0 | 20,900 | 20,600 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 21,000 | 20,900 | 21,100 | + 100 | 20,850 | 20,500 |
| Ex-Jharsugda | Lumps, FeM 78%, +/-1 | 19,400 | 19,300 | 19,500 | NA | 19,200 | 19,200 | |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 20,200 | 20,100 | 20,300 | + 100 | 20,100 | 20,300 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 20,100 | 20,000 | 20,200 | 0 | 20,000 | 19,800 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 20,900 | 20,800 | 21,000 | 0 | 20,500 | 20,400 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 35,800 | 35,800 | 35,900 | + 50 | 35,100 | 33,950 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 32,800 | 32,700 | 32,900 | + 300 | 32,300 | 31,300 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 31,700 | 31,600 | 31,800 | + 400 | 31,200 | 30,700 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 32,500 | 32,400 | 32,600 | + 50 | 32,200 | 31,600 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 34,800 | 34,700 | 34,900 | + 100 | 34,900 | 34,100 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 34,000 | 33,800 | 34,200 | – 500 | 34,000 | 34,200 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 33,000 | 33,000 | 33,200 | 0 | 34,000 | 34,000 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 36,600 | 36,500 | 36,700 | 0 | 35,900 | 34,800 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 33,200 | 33,200 | 33,300 | + 200 | 32,800 | 31,800 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 32,400 | 32,300 | 32,500 | + 200 | 31,800 | 31,300 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 33,300 | 33,200 | 33,500 | + 200 | 32,900 | 32,500 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 35,000 | 34,900 | 35,100 | + 100 | 35,200 | 34,300 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 34,500 | 34,000 | 34,600 | – 500 | 34,500 | 34,800 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 33,000 | 33,000 | 33,200 | – 200 | 34,000 | 34,000 | |
| TMT | Ex-Delhi/NCR | 12MM | 38,500 | 38,300 | 38,700 | + 300 | 38,800 | 38,400 |
| Ex-Durgapur | 12MM | 37,300 | 37,100 | 37,500 | + 300 | 36,900 | 35,800 | |
| Ex-Raipur | 12MM | 36,700 | 36,500 | 36,900 | + 200 | 36,600 | 36,000 | |
| Ex-Mumbai | 12MM | 39,200 | 38,800 | 39,300 | – 300 | 39,300 | 39,300 | |
| Ex-Chennai | 12MM | 38,600 | 38,500 | 39,000 | – 400 | 38,700 | 39,250 | |
| Ex-Hyderabad | 12MM | 38,700 | 38,500 | 39,000 | – 300 | 38,700 | 37,200 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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