Today, Indian Semi finished offers fall slightly over thin trade activities, prices declined by INR 100-300/MT of both Sponge iron & Billets, day-on-day.
As per Industry participants demand for finished steel products remained weak, resulting limited inquiries for Semis products.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 35,500-40,200/MT (USD 519-589) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 20,400-23,400/MT (USD 298-343); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 19th June 2018 (Tuesday) INR to USD exchange rate stood at INR 68.33
— BSE Sensex closed at 35,286(-261) on Tuesday, as against last day (Monday) at 35,548(-73)
Raw material
— Indian pellet maker booked low alumina pellet to China at around USD 115-116/MT CFR, which is higher by USD 5 from regular pellets.
— SAIL had invited a tender for purchase of total 53,690 MT silico manganese for its different plants for Jul’18-Oct’18 cycle. The due date for submission of bid is 03 Jul’18
— Price assessment of UK/USA origin containerized Shredded stood at USD 375-380/MT, CFR Nhava Sheva. South African HMS 1&2 assessed at around USD 370/MT and Dubai HMS 1 at USD 375/MT, CFR Nhava Sheva.
Semi finished
— Aloke Steel Industries (Jharkhand) offered Fem 78-79 C-DRI lumps at INR 22,400/MT & Sponge mix material (60:40) at INR 22,200/MT ex-plant
— Raipur, Central India based Integrated plants offering Sponge P-DRI at INR 19,900-20,000/MT & Sponge DR CLO grade at INR 22,500-22,700/MT ex-plant
— Sponge producers in Central region – Raipur & Raigarh are witnessing dull demand due to closed furnaces in Raigarh for more than a week.
— Rashmi Metaliks in Durgapur has rolled over Sponge P-DRI prices at INR 22,300/MT – Sources.
— A day before, Monnet Ispat offered P-DRI & C-DRI at INR 19,200/MT & INR 21,200/MT ex-plant, Raigarh; trade activities are firm at these offers an official reported.
— BMM Ispat in Karnataka has offered sponge P-DRI at INR 19,500-19,600/MT and Sunvik Steels sponge C-DRI lumps at INR 20,600/MT. Both offers for FeM 80, excluding GST & ex-plant basis.
— BIOP Steels in South India has offered FeM 80 & 82 C-DRI lumps at INR 20,100/MT & 20,500/MT ex-plant, Karnataka; an official reported.
— As per participants Raipur Billet being sold for North India – Punjab at the price range of INR 36,500-36,600/MT ex-plant.
— As per a Western India – Gujarat based big producer of Induction route Billets, there are no fresh deals for exports and are mostly dealing in local market.
— The medium mills in Durgapur, East India reported weak demand for Nepal exports and the last deals reported at close to USD 533-535/MT (ex-mill) for small quantities.
Finish Long
— Gujarat based Shreeyam Power & Steel Industries Ltd branding as National TMT has unchanged basic Rebar at INR 49,400/MT FoR & including GST at 18%, Size – 20 mm.
— Central region (Raigarh) based Scan Group branding Shrishti TMT having monthly production capacity of 20,000 MT, reduced prices on day basis by around INR 200/MT and currently offer basic Rebar at INR 39,300/MT (Size – 28 MM), ex-work & excluding GST.
— Raipur Power and Steel Ltd offering Wire Rod (5.5 MM) at INR 41,900/MT, ex-mill & excluding GST.
— Central region (Raipur) based Kamdhenu TMT reduced prices on day basis by around INR 400/MT and currently offer basic Rebar at INR 41,000/MT, ex-work & excluding GST.
— The suppliers in Raipur have slightly down their trade discount on Wire rod to around INR 1,100-1,200/MT, size – 5.5 MM. As per sources demand is slow & trade discount might get fluctuated by around INR 200-400/MT further in finish steel.
Reference prices as on 19th June 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Mumbai | HMS(80:20) | 26,100 | 26,000 | 26,200 | 0 | 26,000 | 27,600 |
| Ex-Chennai | HMS(80:20) | 26,100 | 26,000 | 26,200 | 0 | 26,300 | 26,700 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 23,400 | 23,300 | 23,500 | – 100 | 23,200 | 21,700 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 21,000 | 20,900 | 21,100 | 0 | 20,800 | 20,900 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 21,800 | 21,700 | 21,900 | – 100 | 21,700 | 21,900 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 20,400 | 20,200 | 20,500 | 0 | 20,000 | 20,500 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 22,200 | 22,100 | 22,300 | – 100 | 21,800 | 20,300 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 19,900 | 19,800 | 20,000 | – 100 | 19,700 | 19,700 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,600 | 19,500 | 19,700 | 0 | 19,300 | 19,500 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 20,200 | 20,100 | 20,300 | 0 | 20,200 | 20,300 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 39,700 | 39,600 | 39,800 | + 400 | 38,000 | 39,000 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 36,600 | 36,500 | 36,700 | – 100 | 35,800 | 35,800 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 36,000 | 35,900 | 36,100 | 0 | 35,000 | 35,000 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 35,500 | 35,400 | 35,600 | – 300 | 34,500 | 35,400 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 36,400 | 36,300 | 36,500 | – 200 | 36,000 | 36,300 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 35,000 | 34,900 | 35,100 | 0 | 35,000 | 35,300 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 35,700 | 35,600 | 35,800 | 0 | 34,700 | 35,700 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 40,200 | 40,100 | 40,400 | + 400 | 38,600 | 39,700 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 37,000 | 36,900 | 37,100 | – 100 | 36,200 | 36,500 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 36,200 | 36,100 | 36,300 | 0 | 35,600 | 35,600 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 36,600 | 36,500 | 36,700 | – 200 | 35,500 | 36,700 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 36,700 | 36,600 | 36,700 | – 100 | 36,200 | 36,800 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 35,500 | 35,400 | 35,600 | 0 | 35,500 | 35,800 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 36,000 | 35,900 | 36,100 | 0 | 35,000 | 36,000 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 44,100 | 43,900 | 44,300 | + 300 | 43,800 | 42,500 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 41,400 | 41,200 | 41,600 | 0 | 40,900 | 41,050 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 40,800 | 40,600 | 41,000 | – 300 | 40,400 | 40,400 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 40,200 | 39,800 | 40,300 | 0 | 39,800 | 40,600 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 40,600 | 40,400 | 40,800 | – 200 | 40,800 | 40,600 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 40,500 | 40,300 | 40,700 | 0 | 39,500 | 40,500 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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