Indian Semis prices remained volatile over subdued trade activities. During the day, price fluctuation have assessed in Sponge iron by INR 100-200/MT and in Billet by INR 100-500/MT.
The industry participants are assuming domestic prices to remain strong as mills packed with good orders also Semis inventories are limited in most of the major markets.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 36,000-39,600/MT (USD 530-584) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 20,400-21,900/MT (USD 301-323); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 25th May 2018 (Friday) INR to USD exchange rate stood at INR 67.80
— BSE Sensex closed at 34924(+261) on Friday, as against last day (Thursday) at 34,663(+318)
Raw material
— Odisha based pellet maker has recently concluded a pellet export deal (with 3% alumina content) to Europe at USD 114/MT, CFR considering freight of about USD 18/MT- Sources
— Melting scrap offers in Western India- Gujarat & Maharashtra decline by INR 300-600/MT in a week trade activities
— Scrap price assessment of UK/Europe origin containerised Shredded stood at USD 383-388/MT, CFR while offers for the same from USA gauged at USD 387-390/MT, CFR Nhava Sheva.
Semi finished
— Girdih based Atibir Industries, a Pig iron producer has kept offers firm amid average inquiries. The steel grade trades are reported at INR 30,500-31,000/MT ex-plant & excluding GST.
— Durgapur based Neo Metaliks has reported latest offers for steel grade Pig iron at around INR 31,200/MT & Foundry grade at INR 33,800/MT, ex-plant.
— Ludhiana, North India based trade participants reported the latest offers for steel grade are at around INR 31,600/MT and Foundry grade at INR 34,600/MT FoR and excluding 18% GST.
— Indian induction furnaces margins (conversion spread) stood 6 yrs high from P-DRI to Billet and recorded at INR 16,000-17,000/MT in Raipur & Durgapur.
— Raipur, Central India based Integrated plants have reduced offers by INR 100/MT day-on-day and offering Sponge P-DRI at INR 19,600-19,700/MT ex-plant.
— Rashmi Metaliks in Durgapur has reduced sponge prices by INR 100/MT and the current offers for P-DRI heard at INR 20,200/MT – Sources.
— BMM Ispat a price trend setter in South Indian sponge market has kept offers unaltered today and offering FeM 80 P-DRI lumps at INR 19,800-19,900/MT ex-Bellary, Karnataka.
— South India based Cauvery Iron & Steel offers FeM 80 P-DRI & billet at INR 20,400/MT & INR 36,000/MT. Also offering 28 MM Rebar at INR 38,000/MT. prices are ex-plant & excluding GST.
Finish Long
— Jalna based rebar manufacturer – SRJ Peety Steels Pvt Ltd branding Shree Om TMT increased their offers by around INR 200/MT yesterday eve and offering basic rebar at INR 39,200/MT, ex-work & excluding GST.
— North Region based Rathi Steels have increased their prices by around INR 300/MT d-o-d basis and current offering at INR 44,600/MT, size – 12 mm & excluding 18% GST.
— East Region Based – Baba Smelter Pvt. Ltd has reduced their price by around INR 250/MT on day basis & current offering basic Structure 150 Channel at INR 41,000/MT, ex-work & excluding GST. As per official view demand stands on regular basis only and maintaining the average inventories.
— The suppliers in Raipur have slightly increased trade discount on Wire rod to around INR 800-1,000/MT, size – 5.5 MM.
— Chennai based manufacturers namely Suryadev Alloys offering 12 mm Rebar at INR 41,000/MT & Billet at INR 36,000/MT, ex-plant & excluding GST, as per official conversation demand is slow & minor amendment will occur as per requirement.
— Mumbai, Maharashtra based Guardian TMT has unchanged rebar prices d-o-d basis & offering 12 mm at INR 40,800/MT and further as per sources market seems silent today & might remain ineffectual movement for next couple of days due to implementation of Intra-state E-way bill from today onwards i.e. 25.05.18.
Reference prices as on 25th 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) | 27,400 | 27,300 | 27,500 | – 100 | 27,700 | 26,300 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 21,600 | 21,500 | 21,700 | – 100 | 21,600 | 22,400 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 20,800 | 20,700 | 20,900 | – 200 | 20,800 | 21,000 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 21,900 | 21,800 | 22,000 | – 100 | 21,850 | 22,200 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 20,800 | 20,700 | 20,900 | 0 | 20,000 | 19,900 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 20,150 | 20,100 | 20,200 | – 150 | 20,200 | 20,900 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 19,700 | 19,600 | 19,800 | – 100 | 19,700 | 20,000 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,800 | 19,700 | 19,900 | 0 | 19,100 | 19,100 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 20,500 | 20,400 | 20,600 | + 100 | 19,700 | 19,900 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 38,850 | 38,800 | 38,900 | + 350 | 38,200 | 38,000 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 36,000 | 35,900 | 36,100 | 0 | 35,300 | 36,000 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 35,500 | 35,400 | 35,600 | 0 | 34,500 | 34,800 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 35,900 | 35,800 | 36,000 | – 50 | 34,850 | 34,800 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 36,500 | 36,400 | 36,600 | 0 | 36,100 | 36,000 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 35,500 | 35,400 | 35,600 | 0 | 36,000 | 36,500 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 35,700 | 35,600 | 35,800 | – 500 | 35,200 | 36,200 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 39,700 | 39,600 | 39,900 | + 300 | 39,000 | 38,700 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 36,500 | 36,400 | 36,600 | – 100 | 36,000 | 36,500 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 36,000 | 35,900 | 36,100 | – 100 | 35,100 | 35,200 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 37,000 | 36,900 | 37,100 | + 100 | 36,000 | 35,800 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 37,000 | 36,900 | 37,100 | – 100 | 36,600 | 36,400 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 36,000 | 35,900 | 36,100 | 0 | 36,500 | 37,000 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 36,000 | 35,900 | 36,100 | – 500 | 35,500 | 36,500 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 43,300 | 43,100 | 43,500 | + 300 | 41,900 | 41,300 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 41,200 | 41,000 | 41,400 | – 100 | 40,300 | 40,500 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 40,900 | 40,700 | 41,100 | 0 | 39,900 | 39,600 | |
| 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 | 40,700 | 40,500 | 41,000 | + 200 | 41,200 | 40,800 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 40,500 | 40,300 | 40,700 | – 500 | 40,000 | 41,000 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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