Today, the trade activities in Indian Semis market was slowdown due to holiday mood in the markets. However, despite limited trades, the prices of Billet have increased further by INR 100-400/MT in Central, East & Western India.
In context to Sponge price movements, the manufacturers in Central India reported good trade volumes as power supply in Raigarh’s – Punjipatra Industrial hub improved since couple of days, from earlier about 8-10 hrs to current 18 hrs per day. Thus, Sponge prices in Central & East regions gain by INR 100-200/MT day-on-day.
SteelMInt’s latest price assessment for induction furnaces billet in Indian market stood at INR 35,400-39,400/MT (USD 531-591) ex-plant. Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 19,700-22,900/MT (USD 296-344); prices are ex-plant & excluding GST.
Rupee
— On 1st May 2018 (Tuesday) INR to USD exchange rate stood at INR 66.67
Raw Material
— NMDC, India’s largest iron ore miner Chhattisgarh, the miners Iron Ore rake movement fell 14% M-o-M in Apr’18. Outside state-based units procurement from NMDC decreased by 5%. Sourcing from within state based units increased by 10%. Movement for exports declined to nil as LTA with Japan & South Korea expired on 31 Mar’18.
Semi Finished
— Raipur based big Sponge plants have increased prices for P-DRI to INR 20,200-20,300/MT against last day at INR 19,900-20,000/MT ex-plant. However, Sponge DR-CLO grade prices were unaltered at INR 23,400-23,600/MT ex-plant.
— Rashmi Metaliks in Durgapur has offered P-DRI at INR 21,600-21,700/MT & Billet at INR 37,000/MT – Sources. As per participants, the market was closed almost.
— Indian Pig iron prices hit 6 years high as per data managed by SteelMint since Jan 2012. The latest offers stood at INR 32,000-32,500/MT ex-Durgapur & INR 31,800-32,000/MT ex-Raipur; excluding GST.
— India’s saleable pig iron production stood at 9,258,000 MT in FY18; declined about 2% Y-o-Y against 9,396,000 MT in FY17. However, Country’s bulk pig iron exports increased to 446,250 MT in FY18 as compared to 336,290 in FY17, surge by 32.69% Y-o-Y.
Finished Steel
— Rathi Steels in North India – Delhi have unchanged their prices d-o-d basis and offering 12 mm Rebars at INR 43,000/MT, excluding 18% GST.
— The suppliers in Raipur have slight stretch trade discount on Wire rod amid improve trade volume, size – 5.5 MM at around INR 900-1,100/MT.
— Raipur Power and Steel Ltd has offered – Wire Rod (5.5 MM) at INR 40,900/MT & Raw Pellet at INR 6,000/MT, ex-mill & excluding GST.
— Gujarat based Akshar TMT has offered Rebar 20 mm at INR 48,500/MT FoR & including GST.
— Jalna based Rebar manufacturer have unchanged their price level due to closure of market in most regions as Labor Day and offered 12 mm Rebars at INR 39,900-40,300/MT, ex-work & excluding GST.
— East Region based Wire Rod manufacturers increased their prices by around INR 500-700/MT on day basis & current offering at INR 42,000-42,200/MT with maintaining of average spread around INR 5,000/MT from Billets; ex-work & excluding GST.
— According to the recent data by Indian customs shows that the Finish long steel exports dropped by 14.28% M-o-M to 0.12 MnT in Feb’18 against 0.14 MnT in Jan’18.
Reference prices as on 01st May 2018
| Products | Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 22,900 | 22,800 | 23,000 | 0 | 21,700 | 19,500 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 21,300 | 21,200 | 21,400 | + 100 | 20,900 | 19,900 | |
| Ex-Raipur | 0-20 mm, -1 mm (20-25%), FeM 82%, +/-1 | 23,500 | 23,400 | 23,600 | – 100 | 23,000 | 21,800 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,700 | 19,600 | 19,800 | 0 | 20,100 | 20,300 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 21,500 | 21,400 | 21,600 | 0 | 20,300 | 18,100 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 20,200 | 20,100 | 20,300 | + 250 | 19,800 | 19,600 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 18,900 | 18,800 | 19,000 | 0 | 19,100 | 19,700 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 19,700 | 19,600 | 19,800 | 0 | 20,200 | 20,600 | |
| INGOT | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 38,700 | 38,600 | 38,800 | + 200 | 37,500 | 35,600 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 36,500 | 36,400 | 36,600 | + 100 | 35,000 | 32,500 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 35,200 | 35,100 | 35,300 | + 100 | 34,200 | 31,800 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 35,000 | 34,900 | 35,100 | 0 | 34,500 | 32,550 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 36,800 | 36,700 | 36,900 | + 200 | 36,100 | 34,800 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 36,500 | 36,400 | 36,600 | 0 | 36,500 | 35,700 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 35,700 | 35,600 | 35,700 | 0 | 36,000 | 33,700 | |
| BILLET | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 39,400 | 39,300 | 39,500 | + 200 | 38,000 | 36,200 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 37,000 | 36,900 | 37,200 | + 100 | 35,600 | 32,700 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 35,700 | 35,600 | 35,800 | + 100 | 34,500 | 32,300 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 36,000 | 35,900 | 36,100 | 0 | 35,400 | 33,100 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 37,000 | 36,900 | 37,100 | + 200 | 36,300 | 35,000 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 37,000 | 37,000 | 37,300 | 0 | 37,000 | 36,200 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 36,000 | 35,900 | 36,000 | 0 | 36,300 | 34,000 | |
| TMT | Ex-Delhi/NCR | 12MM | 41,700 | 41,500 | 41,900 | + 100 | 40,900 | 38,900 |
| Ex-Durgapur | 12MM | 41,300 | 41,100 | 41,500 | + 300 | 40,000 | 37,800 | |
| Ex-Raipur | 12MM | 39,700 | 39,500 | 39,900 | 0 | 39,200 | 36,900 | |
| Ex-Jalna | 12MM | 40,100 | 39,900 | 40,300 | 0 | 39,700 | 37,900 | |
| Ex-Mumbai | 12MM | 40,600 | 40,200 | 40,700 | 0 | 39,800 | 38,800 | |
| Ex-Chennai | 12MM | 41,000 | 40,800 | 41,200 | 0 | 41,000 | 41,000 | |
| Ex-Hyderabad | 12MM | 40,500 | 40,300 | 40,700 | 0 | 41,000 | 39,500 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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