Indian Semi-finished steel offers further increased on active demand and as per assessment Billet prices moved up by INR 100-500/MT & Sponge iron by INR 100-300/MT day-on-day in across major markets.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 35,600-39,300/MT (USD 523-578) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 20,000-23,300/MT (USD 294-343); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 15th June 2018 (Friday) INR to USD exchange rate stood at INR 68.00
— BSE Sensex closed at 35,622(+22) on Friday, as against last day (Thursday) at 35,599(-139)
Key Updates
— MMTC cancels Pig iron export tender of 40,000 MT (C: 3.6-4.3%; Si: up to 1.24%; Mn < 1%, S: 0.05% max; P: 0.2% Max) owing to high expectations, whose due date for submission of bids was on 06 Jun’18. As per sources the bids fetched were in the range of USD 386-391/MT, FoB India.
— As per SteelMints assessment, Prices for Steel grade in Durgapur is assessed at INR 29,500-29,900/MT (USD 434-440) and around INR 28,500-28,900/MT (USD 419-425) in Cuttack (GST extra).
— Raipur, Central India based Integrated plants offering Sponge P-DRI at INR 20,100-20,200/MT & Sponge DR CLO grade at INR 23,100-23,300/MT ex-plant
— Jharsuguda, Odisha based sponge manufacturer offered FeM 80 P-DRI at INR 20,100-20,200/MT FoR Raipur.
— Rashmi Metaliks in Durgapur, known as price trend setter, has offered Sponge P-DRI at INR 22,000-22,100/MT – Sources.
— Odisha based medium size sponge manufacturers reported firm offers; FeM 80 C-DRI (70:30 mix material) at INR 21,000-21,100/MT ex-plant & excluding GST
— BMM Ispat in South India (Karnataka) has increased offers for FeM 80 P-DRI by INR 500/MT to INR 19,500/MT ex-Bellary; an official reported offers rise due to hike in billet prices.
— BIOP Steels in South India has offered FeM 80 & 82 C-DRI lumps at INR 20,000/MT & INR 20,400/MT ex-plant, Karnataka; an official reported.
— Domestic melting scrap offers increases – Jalna by INR 500/MT, Alang by INR 200/MT, Hyderabad by INR 200/MT, Mandi Gobindgarh & Ludhiana by INR 200-400/MT, as per SteelMint’s daily assessment
— Local manufacturers in Raigarh are offering 60-14 Silico Manganese at around INR 61,500/MT ex-plant
Reference prices as on 15th June 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Mumbai | HMS(80:20) | 25,800 | 25,700 | 25,900 | 0 | 26,600 | 27,700 |
| Ex-Chennai | HMS(80:20) | 25,900 | 25,800 | 26,000 | – 100 | 26,400 | 26,700 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 23,300 | 23,200 | 23,400 | + 100 | 23,000 | 21,600 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 21,100 | 21,000 | 21,100 | + 200 | 21,100 | 20,800 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 22,100 | 22,000 | 22,200 | + 100 | 22,000 | 21,850 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 20,000 | 19,900 | 20,100 | + 200 | 20,400 | 20,000 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 22,100 | 22,000 | 22,200 | + 100 | 21,700 | 20,200 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 20,100 | 20,000 | 20,200 | + 100 | 20,100 | 19,700 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,400 | 19,300 | 19,500 | + 300 | 19,600 | 19,100 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 20,200 | 20,100 | 20,300 | + 100 | 20,200 | 19,700 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 38,800 | 38,700 | 38,900 | + 200 | 39,300 | 38,200 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 36,400 | 36,300 | 36,500 | + 400 | 36,500 | 35,300 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 35,600 | 35,500 | 35,700 | + 400 | 35,900 | 34,500 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 35,800 | 35,700 | 35,900 | + 200 | 35,500 | 34,850 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 36,500 | 36,400 | 36,600 | + 300 | 36,500 | 36,100 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 35,200 | 35,000 | 35,500 | + 400 | 36,000 | 36,000 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 35,700 | 35,600 | 35,800 | + 200 | 35,700 | 35,200 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 39,300 | 39,200 | 39,500 | + 200 | 39,800 | 39,000 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 36,800 | 36,700 | 37,000 | + 300 | 36,900 | 36,000 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 36,000 | 35,900 | 36,100 | + 300 | 36,500 | 35,100 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 36,800 | 36,700 | 37,000 | + 100 | 36,600 | 36,000 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 36,800 | 36,700 | 36,900 | + 400 | 36,700 | 36,600 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 35,600 | 35,500 | 36,000 | + 300 | 36,500 | 36,500 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 36,000 | 35,900 | 36,100 | + 250 | 36,000 | 35,500 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 43,800 | 42,600 | 44,000 | + 500 | 44,500 | 41,900 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 41,300 | 41,100 | 41,500 | 0 | 41,500 | 40,300 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 41,300 | 41,100 | 41,500 | + 300 | 41,400 | 39,900 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 40,200 | 39,800 | 40,300 | + 300 | 40,700 | 40,600 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 40,800 | 40,600 | 41,000 | + 200 | 41,000 | 41,200 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 40,500 | 40,300 | 40,700 | + 250 | 40,500 | 40,000 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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