Today, Indian Semi finished prices increase marginally on improved inquiries and the price rise seen in Sponge iron by INR 100-200/MT & Billet by INR 200-500/MT.
The market participants stated that “spot trade volume remained average, however slight rise in inquiries led to support prices”.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 33,200-37,000/MT (USD 481-537) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 19,200-22,000/MT (USD 278-319); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 6th July 2018 (Friday) INR to USD exchange rate stood at INR 68.91
— BSE Sensex closed at 35,657(+83) on Friday, as against last day (Thursday) at 35,574(-70)
Raw material
— Indian iron ore imports in first Q1 FY19 recorded at 3.48 MnT – SteelMint Stats.
— Odisha’s merchant iron ore miner – RP Sao has recently announced a hike in iron ore prices by around INR 300/MT in lumps and fines.
— Singhal Steel, Raigarh (Central India) based manufacturer has offered 60-14 Silico Manganese at around INR 64,500/MT ex-plant
— Chennai based plants have booked containerised melting scrap at USD 325/MT loading from West Africa as per sources.
Semi finished
— India’s Vizag Steel concludes 150*150 mm bloom (2 rakes) export tender to Nepal at around USD 510-515/MT (ex-mill)
— NINL has reduced pig iron prices for steel by INR 600/MT (USD 9) & Foundry grade by around INR 1,000/MT (USD 15).The latest offers for Steel (N1) grade material are assessed at INR 27,900/MT (USD 405) & for Foundry (N2) grade at INR 28,500/MT (USD 414), ex-Cuttack, Odisha.
— Ludhiana, North India based trade participants reported steel & foundry grade pig iron offers at INR 31,100-31,200/MT & INR 33,000-33,200/MT on FoR basis & excluding 18% GST.
— Neo Metaliks in Durgapur – West Bengal has kept offers unaltered and are assessed at INR 29,500/MT ex-plant.
— Raipur, Central India based Integrated plants offers unaltered, offering Sponge P-DRI at INR 19,800-20,000/MT & Sponge DR CLO grade at INR 22,700-22,900/MT ex-plant.
— Raigarh based Singhal Steel offered P-DRI at INR 19,500/MT ex-Raigrah, an official reported. Also, the company is offering billet to Raipur at INR 33,800/MT FoR.
— Odisha based manufacturer, Ganesh Metaliks offered Billet at INR 33,300/MT ex-plant, an official reported.
— Jalna based Matsyodari Steel and Alloy Pvt Ltd. offering billet at INR 34,000/MT, ex-work & excluding GST.
— BIOP Steels in South India has reduced sponge offers by around INR 100/MT, offering FeM 80 & 82 C-DRI lumps at INR 19,400/MT & INR 19,800/MT ex-plant, Karnataka; an official reported.
— 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 18,300-18,400/MT ex-Bellary, Karnataka.
Finish Long
— Raipur Power and Steel Ltd offering Wire Rod (5.5 MM) at INR 38,900/MT, Raw Pellet at INR 6,600/MT & Silico Manganese at INR 65,000/MT, ex-mill & excluding GST.
— Central region, Raipur based brand – SPEED TMT have unchanged their prices on day basis and current offering at INR 36,200/MT (28 mm), ex-work & excluding GST.
— North Region based Rathi Steels have unchanged their prices on day basis and current offering at INR 41,600/MT, size – 12 mm & excluding 18% GST.
— Jalna based rebar manufacturer – SRJ Peety Steels Pvt Ltd branding Shree Om TMT unchanged their prices on day basis and offering basic rebar at INR 36,000/MT (28 mm), ex-work & excluding GST.
— The suppliers in Raipur have slightly increased their trade discount on Wire rod and current discount range at INR 1,200-1,400/MT.
Reference prices as on 6th July 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Mumbai | HMS(80:20) | 24,800 | 24,700 | 25,000 | – 100 | 25,150 | 26,600 |
| Ex-Chennai | HMS(80:20) | 24,000 | 23,900 | 24,100 | – 100 | 24,900 | 26,400 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 22,000 | 21,900 | 22,100 | + 200 | 22,100 | 23,000 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 20,900 | 20,800 | 21,000 | + 100 | 20,800 | 21,100 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 21,800 | 21,700 | 21,900 | 0 | 21,500 | 22,000 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,200 | 19,100 | 19,300 | 0 | 19,100 | 20,400 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 21,000 | 20,900 | 21,100 | + 200 | 21,100 | 21,700 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 19,900 | 19,800 | 20,000 | 0 | 19,600 | 20,100 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 18,400 | 18,300 | 18,500 | – 100 | 18,400 | 19,600 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 19,000 | 18,900 | 19,100 | – 100 | 19,500 | 20,200 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 36,500 | 36,400 | 36,600 | + 400 | 38,100 | 39,300 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 33,400 | 33,300 | 33,500 | 0 | 34,700 | 36,500 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 32,400 | 32,300 | 32,500 | + 300 | 33,600 | 35,900 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 32,900 | 32,800 | 33,000 | + 100 | 34,100 | 35,500 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 33,150 | 33,100 | 33,200 | – 50 | 34,400 | 36,500 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 34,300 | 34,200 | 34,400 | 0 | 34,500 | 36,000 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 34,200 | 34,100 | 34,300 | + 500 | 34,200 | 35,700 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 37,000 | 36,900 | 37,000 | + 500 | 38,500 | 39,800 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 33,900 | 33,800 | 34,000 | + 100 | 35,100 | 36,900 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 33,200 | 33,100 | 33,300 | + 200 | 34,300 | 36,500 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 33,900 | 33,800 | 34,000 | + 150 | 35,000 | 36,600 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 33,350 | 33,300 | 33,400 | – 100 | 34,600 | 36,700 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 34,800 | 34,700 | 34,900 | 0 | 35,000 | 36,500 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 34,500 | 34,400 | 34,600 | + 500 | 34,500 | 36,000 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 40,800 | 40,600 | 40,900 | 0 | 41,900 | 44,500 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 38,100 | 37,900 | 38,300 | 0 | 39,900 | 41,500 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 38,400 | 38,200 | 38,600 | + 100 | 39,400 | 41,400 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 37,700 | 37,300 | 37,800 | – 300 | 38,500 | 40,700 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 39,900 | 39,700 | 40,000 | + 100 | 39,800 | 41,000 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 39,250 | 39,000 | 39,500 | + 500 | 39,500 | 40,500 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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