On daily analysis, domestic Billet prices have increased in Central & West India by INR 200-400/MT (USD 3-6), however in rest of markets it remain unaltered. Further, the sponge iron prices slightly fluctuated by INR 100/MT day-on-day amid average inquiries.
The price assessment for induction furnaces billet size 125×125 mm are stood at INR 32,100-36,400/MT (USD 492-553) ex-plant. And the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 20,000-21,300/MT (USD 306-324); prices are ex-plant & excluding GST.
On 30th Mar 2018 (Friday) INR to USD exchange rate stood at INR 65.06
Raw materials
— Udayapur Cement Industries Limited (UCIL) has invited a tender for purchase of 7,000 MT non coking coal.
— Melting scrap offers in Western India- Maharashtra & Gujarat rise by INR 500/MT in a week duration.
— Goa based plants recently booked 20 ft containerized melting scrap at USD 340/MT, 20 MT loading from West Africa & arrival period would be approximate 45-60 days.
Semi finished
— According to the sources, Indian billet export prices have moved down by USD 20/MT W-o-W & the export offers for Indian origin billet (15*150mm) is at USD 505-510/MT, FoB India
— Trade participants in North India – Ludhiana reported short supply leads to rise in Pig iron offers by INR 300-500/MT W-o-W and the steel grade offers assessed at INR 31,000-31,200/MT FoR & excluding 18% GST.
— Raipur, Central India based Integrated plants offer increased by INR 100/MT D-o-D, offering Sponge P-DRI at INR 19,500-19,600/MT & Sponge DR CLO grade at INR 21,700-21,900/MT ex-plant.
— Jharkhand Ispat offered Sponge C-DRI lumps at INR 20,600/MT & Sponge P-DRI at INR 18,700/MT ex-plant, Ramgarh. The company halts billets offers because of less stock, as per officials.
— Durgapur based Neo Metalics has reported latest offers for steel grade Pig iron at around INR 28,200-28,300/MT against last trades at INR 28,500/MT ex-plant. Foundry grade pig iron offers being reported by the producer at INR 31,600/MT, ex-plant.
— Odisha based medium size sponge manufacturers reported, offers remains stable and no major buying activities seen today; The latest offers assessed for FeM 80 C-DRI (70:30 mix material) at INR 20,000-20,100/MT ex-plant & excluding GST.
— BIOP Steels in South India has kept offers unaltered, offering FeM 80 & 82 C-DRI lumps at INR 20,300/MT & INR 20,700/MT ex-plant, Karnataka; an official reported.
Finished Long
— The suppliers in Raipur have reduced trade discount on Wire rod to INR 1,000-1,200/MT against last day at INR 1,200-1,400/MT, as per market sources.
— Rathi Steels in North India – Delhi has increased their price by INR 250/MT today and current offering at INR 40,200-40,300/MT, size – 12 mm & excluding 18% GST.
— Raipur Power and Steel Ltd has offered Wire Rod (5.5 MM) at INR 38,200/MT & Raw Pellet at INR 6,200/MT, Ex-Mill & Excluding GST.
— Shakti Ferro Alloys in Chennai, South region has unchanged their offers on day basis & current offering billet at INR 36,000/MT, ex-work & excluding GST.
— South region, Chennai based Tulsyan NEC Steel (Tulsyan) has unchanged their price & current offering 12mm Rebars at INR 42,000/MT, ex-plant & excluding GST.
— Jalna based Rebar manufacturer have increased price level by around INR 400-500/MT with rise of Billet along with improved demand today and current offering 12 mm rebars at INR 37,900-38,100/MT, ex-works & excluding GST.
Reference prices as on 30th March 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Mumbai | HMS(80:20) | 25,200 | 25,100 | 25,300 | 0 | 24,700 | 25,600 |
| Ex-Chennai | HMS(80:20) | 25,600 | 25,500 | 25,700 | 0 | 25,900 | 25,400 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 20,000 | 19,900 | 20,100 | 0 | 20,400 | 22,400 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 20,000 | 19,900 | 20,100 | 0 | 20,000 | 20,600 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 21,300 | 21,200 | 21,400 | + 100 | 21,200 | 21,450 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 20,000 | 19,900 | 20,100 | 0 | 20,500 | 20,700 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 18,700 | 18,600 | 18,800 | 0 | 18,900 | 21,300 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 19,550 | 19,500 | 19,600 | 0 | 19,600 | 20,200 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,500 | 19,400 | 19,600 | 0 | 19,900 | 20,000 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 20,300 | 20,200 | 20,400 | 0 | 20,500 | 20,700 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 35,750 | 35,700 | 35,800 | 0 | 34,900 | 35,700 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 32,500 | 32,400 | 32,500 | – 100 | 32,000 | 33,000 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 31,650 | 31,600 | 31,700 | + 50 | 31,200 | 31,600 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 32,500 | 32,400 | 32,600 | + 250 | 31,800 | 32,500 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 34,500 | 34,400 | 34,600 | + 200 | 33,900 | 34,800 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 35,200 | 35,100 | 35,300 | 0 | 35,500 | 34,000 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 33,700 | 33,600 | 33,800 | 0 | 33,800 | 33,800 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 36,400 | 36,200 | 36,500 | 0 | 35,600 | 36,400 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 32,800 | 32,700 | 32,900 | – 100 | 32,500 | 33,500 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 32,200 | 32,100 | 32,300 | 0 | 32,100 | 32,350 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 33,200 | 33,100 | 33,300 | + 200 | 32,700 | 33,300 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 34,700 | 34,600 | 34,800 | + 200 | 34,100 | 35,000 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 35,700 | 35,600 | 35,800 | 0 | 36,000 | 34,500 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 34,000 | 33,800 | 34,000 | 0 | 34,000 | 34,000 | |
| TMT | Ex-Delhi/NCR | 12MM | 38,600 | 38,400 | 38,800 | + 300 | 38,300 | 38,500 |
| Ex-Durgapur | 12MM | 37,800 | 37,600 | 38,000 | + 100 | 37,300 | 37,800 | |
| Ex-Raipur | 12MM | 37,100 | 36,900 | 37,300 | + 100 | 36,500 | 36,600 | |
| Ex-Mumbai | 12MM | 38,200 | 37,800 | 38,300 | + 200 | 37,900 | 38,800 | |
| Ex-Chennai | 12MM | 40,800 | 40,700 | 41,100 | 0 | 41,000 | 38,800 | |
| Ex-Hyderabad | 12MM | 39,500 | 39,300 | 39,700 | + 500 | 39,500 | 39,500 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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