Indian Semi finished offers decline in a day trade activities; Billet by INR 300-600/MT (USD 4-9) & Sponge iron by INR 100-200/MT.
As per participants, presently there are mismatched trends in the market as supply of Semis & Long products improved, while inquiries are limited.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 35,000-39,000/MT (USD 516-575) ex-plant. Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 20,100-22,800/MT (USD 296-336); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 22nd June 2018 (Friday) INR to USD exchange rate stood at INR 67.81
— BSE Sensex closed at 35,689(+257) on Friday, as against last day (Thursday) at 35,432(-114)
Key Updates
— NMDC cuts Iron ore prices by INR 300/MT in Karnataka on rising imports by JSW Steel; prices in Chhattisgarh kept unchanged.
— Essar Steel’s Iron ore procurement from NMDC’s Bailadila mines (C.G.), increased by 52% M-o-M & stood at 0.85 MnT in May’18 as against 0.56 MnT in Apr’18
— SAIL has floated a export tenders for 10,800 MT Prime Mild Steel Non-Alloy Concast billets (125*125mm) from its Durgapur Steel plant. The due date for submission of bids is 17:00 hrs as per IST on 26 Jun’18.
— No major changes seen in Sponge iron offers in Raipur, Central India. The latest offers are assessed for Sponge P-DRI at INR 19,400-19,600/MT & Sponge DR CLO grade at INR 22,300-22,500/MT ex-plant
— As per Ingot/Billet manufacturers in Jindal’s punjipatra-Raigarh area (Central India), Jindal steel likely to resume total power supply to Raigarh based furnaces by end of this month.
— Ganesh Metaliks (Odisha) offered Billet at INR 35,400-35,500/MT ex-plant, an official reported. And added the trade remains slow. As of now the manufacturer is looking for export orders.
— Odisha based Sponge manufacturers reported inquiries from Western region mills remained nil due to non-viability and offered FeM 80 C-DRI (70:30 mix material) at INR 20,800-20,900/MT, ex-plant & excluding GST
— BMM Ispat has reduced offers for FeM 80 P-DRI by INR 300-400/MT to INR 19,100-19,200/MT ex-Bellary. As per official weak trade activities in Billet makes market silent.
— Stability prevails in the Pig iron market, trade participants eyeing on NINL’s upcoming new price circular. Steel grade Pig iron offers are stood at INR 29,600-29,800/MT ex-Raipur & INR 29,300-29,700/MT ex-Durgapur.
— Large scale producers cut Re-bar prices by INR 500-1,000/MT (USD 7.5-15) on retail segment due to slow off-take.
— Local manufacturers in Raigarh are offering 60-14 Silico Manganese at around INR 62,000/MT ex-plant.
Reference prices as on 22nd June 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Mumbai | HMS(80:20) | 25,900 | 25,800 | 26,000 | 0 | 25,800 | 27,400 |
| Ex-Chennai | HMS(80:20) | 25,300 | 25,100 | 25,400 | – 200 | 25,900 | 26,700 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 22,800 | 22,700 | 22,900 | – 100 | 23,300 | 21,600 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 20,800 | 20,700 | 20,900 | – 100 | 21,100 | 20,800 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 21,500 | 21,400 | 21,600 | – 100 | 22,100 | 21,900 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 20,100 | 20,000 | 20,200 | – 200 | 20,000 | 20,800 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 21,700 | 21,600 | 21,800 | – 200 | 22,100 | 20,150 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 19,500 | 19,400 | 19,600 | 0 | 20,100 | 19,700 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,100 | 19,000 | 19,200 | – 400 | 19,400 | 19,800 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 20,000 | 19,900 | 20,100 | 0 | 20,200 | 20,500 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 38,500 | 38,400 | 38,600 | – 700 | 38,800 | 38,850 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 35,500 | 35,400 | 35,600 | – 600 | 36,400 | 36,000 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 34,800 | 34,700 | 34,900 | – 500 | 35,600 | 35,500 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 34,600 | 34,500 | 34,700 | – 200 | 35,800 | 35,900 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 35,650 | 35,600 | 35,700 | – 550 | 36,500 | 36,500 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 34,800 | 34,700 | 34,900 | + 100 | 35,200 | 35,500 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 34,700 | 34,600 | 34,800 | 0 | 35,700 | 35,700 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 39,000 | 38,900 | 39,200 | – 600 | 39,300 | 39,700 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 36,000 | 35,900 | 36,100 | – 500 | 36,800 | 36,500 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 35,300 | 35,200 | 35,400 | – 400 | 36,000 | 36,000 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 35,600 | 35,500 | 35,700 | – 300 | 36,800 | 37,000 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 35,850 | 35,800 | 35,900 | – 550 | 36,800 | 37,000 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 35,300 | 35,200 | 35,400 | + 100 | 35,600 | 36,000 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 35,000 | 34,900 | 35,100 | 0 | 36,000 | 36,000 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 43,600 | 43,400 | 43,800 | – 500 | 43,800 | 43,300 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 40,800 | 40,600 | 41,000 | – 500 | 41,300 | 41,200 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 40,100 | 40,000 | 40,300 | – 200 | 41,300 | 40,900 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 39,700 | 39,300 | 39,800 | – 200 | 40,200 | 40,800 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 40,300 | 40,100 | 40,600 | – 100 | 40,800 | 40,700 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 39500 | 39300 | 39700 | 0 | 40500 | 40500 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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