Today, Billet & sponge prices in Indian market have increased by INR 100-200/MT, except in South region – Hyderabad where Billet prices moved up sharply by INR 500/MT. The manufacturers in major markets reported average inquiries resulting slight rise in prices.
SteelMint’s price assessment for induction furnaces billet size 125×125 mm are stood at INR 32,300-36,400/MT (USD 496-559) ex-plant. And the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 19,600-21,300/MT (USD 301-327); prices are ex-plant & excluding GST.
On 4th Apr 2018 (Wednesday) INR to USD exchange rate stood at INR 65.10 & BSE Sensex closed at 33,019(-351).
Raw materials
— NMDC surprises market by keeping Iron ore prices unchanged for April’18 deliveries.
— Indian iron ore import increased sharply by 49% to 8.6 MnT in FY’18 against 5.79 MnT in FY’17.
— State-owned, KIOCL had floated a tender for export of 50,000 MT Pellets. The pellet maker has extended for one day, now the due date for this tender will be 05 Apr’18 at 16:00 Hrs.
— The latest offer for the Premium HCC Coking coal have increased this week marginally by USD 1-2/MT and the offers hovering USD 211-212/MT CNF India.
Semi finished
— Indian Sponge iron export offers fall marginally, as domestic supply strengthens. Current assessment at USD 357-360/MT, CPT Benapole & USD 380 CFR Chhittagong.
— Raipur, Central India based Integrated plants kept offers unaltered & offering Sponge P-DRI at around INR 19,700/MT ex-plant
— Rashmi Metaliks in Durgapur has reduced offers and are heard Sponge P-DRI at INR 18,000/MT against last day at INR 18,100-18,200/MT.
— Singhal Steel has offered P-DRI at INR 18,700-18,800/MT ex-plant (Raigarh). Also offering billet at INR 33,100-33,200/MT FoR Raipur & excluding GST.
— Odisha based manufacturer, Ganesh Metaliks offered Billet at INR 32,500/MT ex-plant, an official reported.
— BMM Ispat in South India has kept offers firm and reported FeM 80 P-DRI at INR 19,700/MT ex-Bellary, Karnataka. Apple Industries in Bellary (Karnataka) also offered Sponge FeM 85+ C-DRI lump at INR 22,500/MT & Billet at INR 35,500/MT ex-plant.
— South India based Cauvery Iron & Steel offers FeM 80 P-DRI & billet at INR 20,800/MT & INR 35,500/MT. Also offering 28 MM Rebar at INR 37,200/MT. prices are ex-plant & excluding GST.
Finished Long
— Rathi Steels in North India – Delhi have increased their price by INR 200/MT today and current offering at INR 40,800/MT, size – 12 mm & excluding 18% GST.
— Shakti Ferro Alloys in Chennai, South Region has unchanged their offers on day basis & offers Billet on advance payment at INR 36,000/MT, ex-work & excluding GST.
— East Region based – Shakambhari Ispat & Power Ltd has offered Wire Rod 5.5 mm at INR 38,000/MT, ex-work, excluding GST.
— Mumbai, Maharashtra based Guardian TMT has unchanged rebars prices and current offering INR 38,800/MT (12 mm) ex-work & excluding GST.
— Raipur Power and Steel Ltd has unchanged their offer of Wire Rod (5.5 MM) at INR 38,200/MT, Raw Pellet at INR 6,200/MT, Ex-Mill & Excluding GST.
— The suppliers in Raipur have increased trade discount on Wire rod by INR 200-400/MT and are assessed at INR 1,200-1,400/MT.
Reference prices as on 4th April 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Mumbai | HMS(80:20) | 25,500 | 25,400 | 25,600 | 0 | 24,800 | 25,500 |
| Ex-Chennai | HMS(80:20) | 25,700 | 25,600 | 25,700 | 0 | 25,700 | 26,000 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 19,600 | 19,500 | 19,700 | + 100 | 20,000 | 22,600 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 20,100 | 20,000 | 20,200 | + 200 | 19,900 | 20,700 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 21,300 | 21,200 | 21,400 | 0 | 21,050 | 21,700 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 20,300 | 20,200 | 20,400 | 0 | 20,200 | 21,300 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 18,000 | 17,900 | 18,100 | – 100 | 18,600 | 21,500 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 19,700 | 19,600 | 19,800 | + 100 | 19,450 | 20,200 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,700 | 19,600 | 19,800 | 0 | 19,600 | 20,500 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 20,600 | 20,500 | 20,800 | 0 | 20,500 | 21,000 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 35,800 | 35,700 | 35,900 | + 200 | 35,300 | 35,700 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 32,600 | 32,500 | 32,700 | + 100 | 32,300 | 33,500 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 32,000 | 31,900 | 32,000 | + 200 | 31,400 | 32,300 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 32,550 | 32,500 | 32,600 | 0 | 32,000 | 32,800 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 34,600 | 34,500 | 34,700 | – 200 | 34,200 | 35,000 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 35,900 | 35,800 | 36,000 | + 200 | 35,400 | 35,000 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 34,200 | 34,100 | 34,300 | + 500 | 33,200 | 34,800 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 36,400 | 36,300 | 36,600 | + 200 | 36,000 | 36,500 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 32,900 | 32,800 | 33,000 | + 200 | 32,600 | 33,900 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 32,400 | 32,300 | 32,500 | + 100 | 32,200 | 33,000 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 33,100 | 33,000 | 33,200 | 0 | 32,800 | 33,600 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 34,800 | 34,700 | 34,900 | – 200 | 34,400 | 35,200 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 36,400 | 36,300 | 36,500 | + 200 | 35,900 | 35,500 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 34,500 | 34,300 | 34,500 | + 500 | 33,500 | 35,000 | |
| TMT | Ex-Delhi/NCR | 12MM | 39,100 | 38,900 | 39,300 | + 200 | 38,300 | 39,100 |
| Ex-Durgapur | 12MM | 37,800 | 37,600 | 38,000 | 0 | 37,500 | 38,500 | |
| Ex-Raipur | 12MM | 36,800 | 36,600 | 37,000 | – 100 | 36,800 | 37,000 | |
| Ex-Mumbai | 12MM | 38,800 | 38,400 | 38,900 | 0 | 37,800 | 39,200 | |
| Ex-Chennai | 12MM | 41,000 | 40,800 | 41,200 | 0 | 40,800 | 40,000 | |
| Ex-Hyderabad | 12MM | 39,500 | 39,300 | 39,700 | 0 | 39,000 | 40,500 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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