Today, Indian Semi finished trades were subdued in which slight price fluctuation have noticed in Sponge iron by INR 100/MT & Billet by INR 100-300/MT in major markets.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 36,000-39,400/MT (USD 527-577) ex-plant. Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 20,600-22,000/MT (USD 301-322); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 24th May 2018 (Thursday) INR to USD exchange rate stood at INR 68.37
— BSE Sensex closed at 34,663(+318) on Thursday, as against last day (Wednesday) at 34,344(-306).
Raw material
— Indian pellet export prices have come down by 1-2% W-o-W, current assessment is USD 105-106/MT, CFR China against USD 107/MT, CFR China last week
— Central India, Raipur based pellet makers have raised offers by INR 200-300/MT to INR 6000/MT (ex-Raipur) against the last assessment at INR 5,700-5,800/MT; ex-plant.
— Goa based plants have booked 20 ft containerized melting scrap at USD 350/MT, 20-21 MT loading from West Africa & arrival period would be approximate after couple of months.
Semi finished
— Indian sponge iron export offers to Bangladesh for lumps of grade FeM 78-80, hovering at USD 355-360/MT CPT Benapole (dry land port of Bangladesh & India) and USD 375-380/MT CFR Chittagong, Bangladesh
— Indian induction grade billet export offers to Nepal is hovering at USD 540/MT ex-mill, Durgapur, Eastern India.
— Raipur, Central India based Integrated plants have raised offers by INR 100/MT day-on-day and offering Sponge P-DRI at INR 19,600-19,800/MT ex-plant.
— Rashmi Metaliks in Durgapur today has rolled over prices – Sponge P-DRI at INR 20,300/MT & Billet at INR 36,700/MT, as per sources.
— Raigarh based Singhal Steel offered P-DRI at INR 19,700-19,800/MT FoR Raipur, an official reported. Also, the company is offering billet at INR 37,000/MT FoR Raipur.
— Govindam Sponge, an Odisha based plant offered FeM 80 sponge fines at INR 20,500/MT ex-plant; trade activities are firm at these offers.
— BMM Ispat in Karnataka has offered sponge P-DRI at INR 19,800/MT and Sunvik Steels sponge C-DRI lumps at INR 21,300/MT. Both offers for FeM 80, excluding GST & ex-plant basis.
Finish Long
— South Region based – VRKP Steel Industry Pvt Ltd – VRKP tmt has unchanged their prices d-o-d basis and current offering rebars at INR 50,500/MT (8 mm), ex-work & including GST.
— Jalna based rebar manufacturer – SRJ Peety Steels Pvt Ltd branding Shree Om TMT increased their offers by around INR 400/MT d-o-d basis and offering basic rebar at INR 39,000/MT, ex-work & excluding GST.
— Raipur Power and Steel Ltd offering Wire Rod (5.5 MM) at INR 41,900/MT & Raw Pellet at INR 6,200/MT, ex-mill & excluding GST.
— East Region based – Shakambhari Ispat & Power Ltd has offered Wire Rod 5.5 mm at INR 41,300/MT, ex-work & excluding GST.
— Gujarat based Shreeyam Power & Steel Industries Ltd branding as National TMT has offered basic rebar at INR 48,400/MT FoR & including GST at 18%, Size – 20 mm.
Reference prices as on 24th May 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Chennai | HMS(80:20) | 26,700 | 26,600 | 26,800 | 0 | 26,700 | 26,300 |
| Ex-Mumbai | HMS(80:20) | 27,500 | 27,400 | 27,600 | – 100 | 27,700 | 26,100 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 21,700 | 21,600 | 21,800 | – 50 | 21,600 | 22,000 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 21,000 | 20,900 | 21,000 | 0 | 20,800 | 20,900 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 22,000 | 21,900 | 22,100 | 0 | 22,000 | 22,000 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 20,800 | 20,700 | 20,900 | + 100 | 20,000 | 19,800 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 20,300 | 20,200 | 20,400 | – 50 | 20,300 | 20,600 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 19,800 | 19,700 | 19,900 | 0 | 19,900 | 19,900 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,800 | 19,700 | 19,900 | + 100 | 19,100 | 19,000 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 20,400 | 20,300 | 20,500 | + 100 | 19,700 | 19,900 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 38,500 | 38,400 | 38,600 | – 500 | 38,100 | 38,000 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 36,000 | 35,900 | 36,100 | – 100 | 35,200 | 35,600 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 35,500 | 35,400 | 35,600 | + 300 | 34,400 | 34,600 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 35,950 | 35,900 | 36,000 | + 150 | 34,800 | 34,600 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 36,500 | 36,400 | 36,600 | + 100 | 36,000 | 36,100 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 35,500 | 35,400 | 35,600 | + 200 | 36,200 | 36,500 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 36,200 | 36,100 | 36,300 | 0 | 35,000 | 36,200 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 39,400 | 39,800 | 39,600 | – 400 | 38,800 | 38,600 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 36,600 | 36,500 | 36,700 | – 100 | 35,900 | 36,100 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 36,100 | 36,000 | 36,100 | + 100 | 35,000 | 35,000 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 37,000 | 36,900 | 37,100 | 0 | 35,900 | 35,600 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 37,100 | 37,000 | 37,200 | + 100 | 36,600 | 36,300 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 36,000 | 35,900 | 36,100 | + 200 | 36,700 | 37,000 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 36,500 | 36,400 | 36,700 | 0 | 35,300 | 36,500 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 43,000 | 42,800 | 43,000 | 0 | 41,600 | 41,200 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 41,300 | 41,100 | 41,500 | – 200 | 40,100 | 40,300 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 40,900 | 40,700 | 41,100 | + 100 | 39,800 | 39,400 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 40,800 | 40,400 | 40,900 | 0 | 40,600 | 40,100 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 40,500 | 40,300 | 40,700 | – 100 | 41,400 | 40,800 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 41,000 | 40,800 | 41,200 | 0 | 39,750 | 41,000 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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