Indian Semi-finished steel offers decline further on limited trades due to seasonal weak demand. As per assessment – Sponge iron offers fall by INR 100-300/MT & Billet by INR 200-600/MT day-on-day.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 34,300-38,000/MT (USD 502-556) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 19,200-22,100/MT (USD 281-324); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 26th June 2018 (Tuesday) INR to USD exchange rate stood at INR 68.27
— BSE Sensex closed at 35,490(+19) on Tuesday, as against last day (Monday) at 35,470(-219)
Raw material
— India’s crude steel output increased by 2.4% M-o-M in May’18 & stood at 8.82 MnT as against 8.61 MnT in Apr’18
— Domestic pellet offers in India have decreased this week by INR 50-300/MT. Indian Pellet reference prices as on 26th Jun’18 are – INR 6,300/MT (Durgapur), INR 6,200-6,300/MT (Raipur) & INR 6,500/MT (Bellary)
— Melting scrap offers in Western India- Gujarat & Maharashtra decline by INR 700-900/MT in a week trade activities
Semi finished
— As per vessel line up data maintained by SteelMint, SAIL is to export 11,340 MT billet from Haldia Port, India to Sri lanka on vessel – Asia Energy.
— Ludhiana, North India based trade participants reported – latest offers for steel grade pig iron around INR 31,800-31,900/MT & Foundry grade at INR 33,700-33,900/MT FoR & excluding 18% GST.
— Raipur, Central India based Integrated plants offering Sponge P-DRI at INR 19,400-19,500/MT & Sponge DR CLO grade at INR 22,200-22,400/MT ex-plant
— Rashmi Metaliks in Durgapur has reduced Sponge prices by INR 100-200/MT today and quoted Sponge P-DRI at around INR 21,000/MT, Sources.
— Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 20700/MT & billet at INR 34,300/MT ex-plant. An official reported trade remains weak.
— BMM Ispat in South Indian sponge market has reduced offers for FeM 80 P-DRI by INR 300-400/MT to INR 18,700-18,800/MT ex-Bellary, Karnataka.
— South India based Cauvery Iron & Steel offers FeM 80 P-DRI & billet at INR 19,600/MT & INR 34,500/MT. Also offering 28 MM Rebar at INR 37,000/MT. prices are ex-plant & excluding GST.
Finish Long
— GK TMT offers in Raipur was unchanged today & assessed 10-25 mm at INR 41,600/MT ex-plant. According to the officials demand is limited at these offer price.
— Kalika Steel Alloys in Jalna unchanged their prices and offering 12-25mm Rebars at INR 39,500/MT ex-plant & excluding GST.
— Maharashtra, Mumbai based Guardian TMT has reduced prices by INR 300/MT & offered 10-32mm at INR 38,800/MT ex-works & excluding GST & in line SRMM (Ghasiram) structure prices reduced by INR 300/MT; day-on-day basis.
— Wire rod manufacturers in Raipur offers discount at around INR 1,000/MT. Current offers for 5.5 material at INR 40,200/MT (GST 18% extra) whereas in Durgapur offers at INR 39,700/MT for same size material.
Reference prices as on 26th June 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Mumbai | HMS(80:20) | 25,400 | 25,300 | 25,500 | 0 | 26,100 | 27,500 |
| Ex-Chennai | HMS(80:20) | 25,000 | 24,900 | 25,100 | 0 | 26,100 | 26,700 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 22,100 | 22,000 | 22,200 | – 200 | 23,400 | 21,900 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 20,700 | 20,600 | 20,800 | – 100 | 21,000 | 20,800 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 21,400 | 21,300 | 21,500 | – 100 | 21,800 | 21,750 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,200 | 19,100 | 19,300 | – 300 | 20,400 | 20,700 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 21,000 | 20,900 | 21,100 | – 300 | 22,200 | 20,450 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 19,500 | 19,400 | 19,600 | 0 | 19,900 | 19,650 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 18,600 | 18,500 | 18,700 | – 400 | 19,600 | 19,800 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 19,700 | 19,600 | 19,800 | – 100 | 20,200 | 20,500 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 37,500 | 37,400 | 37,600 | – 650 | 39,700 | 39,100 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 34,400 | 34,300 | 34,500 | – 600 | 36,600 | 36,400 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 33,900 | 33,800 | 34,000 | – 100 | 36,000 | 35,900 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 33,800 | 33,700 | 33,900 | – 300 | 35,500 | 36,100 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 34,800 | 34,700 | 34,900 | – 200 | 36,400 | 36,800 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 34,700 | 34,600 | 34,800 | 0 | 35,000 | 36,300 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 34,200 | 34,100 | 34,300 | – 500 | 35,700 | 35,700 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 38,000 | 37,900 | 38,200 | – 600 | 40,200 | 39,900 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 34,800 | 34,700 | 34,900 | – 500 | 37,000 | 37,000 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 34,500 | 34,400 | 34,600 | – 200 | 36,200 | 36,400 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 34,800 | 34,800 | 35,000 | – 350 | 36,600 | 37,250 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 35,000 | 34,900 | 35,100 | – 200 | 36,700 | 37,100 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 35,200 | 35,100 | 35,300 | 0 | 35,500 | 36,750 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 34,500 | 34,400 | 34,600 | – 500 | 36,000 | 36,000 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 42,800 | 42,600 | 43,000 | 0 | 44,100 | 44,300 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 39,800 | 39,600 | 40,000 | – 700 | 41,400 | 41,550 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 39,800 | 39,600 | 40,000 | 0 | 40,800 | 41,500 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 38,800 | 38,600 | 39,000 | – 300 | 40,200 | 40,700 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 40,300 | 40,100 | 40,600 | 0 | 40,600 | 41,000 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 39,500 | 39,300 | 39,700 | 0 | 40,500 | 40,500 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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