Indian domestic Sponge & Billet prices has made further corrections over less trade activities. The prices have registered fall of – Billet by INR 200-800/MT (USD 3-12) & Sponge iron by INR 100-200/MT, as per SteelMint’s daily assessment.
Industry experts believed, local billet prices to find stability as conversion spread (margins) stood low at around INR 12,000-12,500/MT (USD 175-183) from P-DRI to billet (in Raipur & Durgapur), which is average required to the standalone manufacturers.
They further added that, mills have started to cut production, which may balance supply-demand in days to come.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 30,600-34,500/MT (USD 446-504) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 18,900-21,200/MT (USD 275-310); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 13th July 2018 (Friday) INR to USD exchange rate stood at INR 68.57
— BSE Sensex closed at 36,541(-6) on Friday, as against last day (Thursday) at 36,548(+282)
Raw material
— Bhushan Steel has recorded iron ore & pellet sourcing at 0.32 MnT in June’18, decline by 35% M-o-M as against 0.49 MnT in May’18.
— Coking Coal imports to India up 12% M-o-M in Jun’18 & stood at around 4.23 MnT, according to the vessel lineup data compiled by CoalMint Research.
— Singhal Steel, Raigarh (Central India) based manufacturer has offered 60-14 Silico Manganese at around INR 64,500/MT ex-plant
Semi finished
— SteelMint’s Indian billet export price assessment for 125*125mm 4SP grade stood at around USD 525-530/MT FoB. Global billet price remain low amid less trades at USD 500-505/MT FoB Black Sea
— Indian Pig iron export tender for 40,000t heard to have receive highest bid above USD 380/MT, FoB – Sources
— Indian sponge iron export offers reduced by USD 10/MT W-o-W, price assessment for 80 FeM sponge lumps are at USD 330/MT CPT Benapole (dry land port of Bangladesh & India) and USD 350/MT CFR Chittagong, Bangladesh.
— According to sources in Durgapur, Rashmi Metaliks has reduced offers to INR 19,000/MT for FeM 78 P-DRI.
— Raipur, Central India based Integrated plants offers unaltered, offering Sponge P-DRI at INR 19,300-19,400/MT & Sponge DR CLO grade at INR 22,100-22,300/MT ex-plant.
— Singhal Steel has offered P-DRI at INR 18,800-18,900/MT ex-plant (Raigarh); an official reported. And added offers unaltered due to average demand.
— BMM Ispat, a renowned sponge manufacturer offering FeM 80 P-DRI lumps at INR 18,300-18,400/MT ex-Bellary, Karnataka.
— BIOP Steels in South India has reduced sponge offers by around INR 200/MT, offering FeM 80 & 82 C-DRI lumps at INR 19,200/MT & INR 19,600/MT ex-plant, Karnataka; an official reported.
Finish Long
— Guardian TMT has reduce their offer by around INR 500/MT on d-o-d basis & current offering rebar at around INR 36,000/MT (12-25 mm) for Mumbai, ex-work & excluding GST.
— GK TMT has reduce their offer by INR 900/MT on d-o-d basis & Currrent offers at around INR 37,800/MT (12-25 mm), ex-Raipur & GST extra.
— Wire rod manufacturers in Raipur are offering trade discount at around INR 1,000/MT. Current price of 5.5mm wire rod and 12G HB at INR 38,900/MT & INR 36800/MT, respectively (GST 18% extra).
Reference prices as on 13th July 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Mumbai | HMS(80:20) | 24,400 | 24,300 | 24,500 | 0 | 24,800 | 25,800 |
| Ex-Chennai | HMS(80:20) | 23,500 | 23,400 | 23,600 | 0 | 24,000 | 25,900 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 20,000 | 19,900 | 20,100 | – 200 | 22,000 | 23,300 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 20,600 | 20,500 | 20,800 | – 100 | 20,900 | 21,100 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 21,200 | 21,100 | 21,300 | 0 | 21,800 | 22,100 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 18,900 | 18,800 | 19,000 | 0 | 19,200 | 20,000 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 19,000 | 18,900 | 19,100 | – 200 | 21,000 | 22,100 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 19,350 | 19,300 | 19,400 | + 50 | 19,900 | 20,100 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 18,300 | 18,200 | 18,400 | 0 | 18,400 | 19,400 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 18,700 | 18,600 | 18,800 | 0 | 19,000 | 20,200 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 33,850 | 33,800 | 33,900 | – 150 | 36,500 | 38,800 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 31,000 | 30,900 | 31,100 | – 300 | 33,400 | 36,400 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 30,200 | 30,100 | 30,300 | – 400 | 32,400 | 35,600 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 30,850 | 30,800 | 30,900 | + 50 | 32,900 | 35,800 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 31,400 | 31,300 | 31,500 | – 300 | 33,150 | 36,500 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 34,000 | 34,000 | 34,200 | 0 | 34,300 | 35,200 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 32,700 | 32,600 | 32,800 | – 800 | 34,200 | 35,700 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 34,400 | 34,300 | 34,500 | – 100 | 37,000 | 39,300 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 31,500 | 31,400 | 31,600 | – 300 | 33,900 | 36,800 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 30,800 | 30,700 | 31,000 | – 500 | 33,200 | 36,000 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 31,200 | 31,100 | 31,300 | – 200 | 33,900 | 36,800 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 31,700 | 31,600 | 31,800 | – 300 | 33,350 | 36,800 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 34,500 | 34,500 | 34,700 | 0 | 34,800 | 35,600 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 33,000 | 32,900 | 33,100 | – 750 | 34,500 | 36,000 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 39,200 | 39,000 | 39,400 | 0 | 40,800 | 43,800 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 36,000 | 35,800 | 36,200 | – 500 | 38,100 | 41,300 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 36,200 | 36,000 | 36,400 | 0 | 38,400 | 41,300 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 36,000 | 35,800 | 36,200 | – 500 | 37,700 | 40,200 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 39,500 | 39,400 | 39,800 | 0 | 39,900 | 40,800 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 38,300 | 38,100 | 38,500 | – 200 | 39,250 | 40,500 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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