Indian Iron & Steel trades remained limited over continuous transportation strike which in turn poor dispatches specifically for inter and intra state, reported by manufacturers.
The Semis & Long producers in major markets also stated piling up of inventories, hence are majorly dealing with local buyers on lower prices.
As per SteelMint assessment, during the day Billet prices have declined around INR 200/MT in Central & North India. However Sponge iron prices remain unchanged over seasonal supply crunch.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 30,400-34,100/MT (USD 442-496) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 19,000-21,700/MT (USD 276-316); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 25th July 2018 (Wednesday) INR to USD exchange rate stood at INR 68.74
— BSE Sensex closed at 36,858(+33) on Wednesday, as against last day (Tuesday) at 36,825(+106).
Raw material
— Indian pellet export prices of regular grade Fe 64% containing alumina about 3% has increased further by USD 2-3/MT W-o-W to USD 122-123/MT, CFR China.
— According to the latest assessment of Coking coal, spot prices of the Premium HCC, Australia have decreased by USD 6-7/MT W-o-W & assessed at USD 188/MT CNF India
Semi finished
— Indian sponge iron export offers fall by USD 5/MT W-o-W, price assessment for 78-80 FeM sponge lumps are at USD 325/MT CPT Benapole (dry port of Bangladesh & India) and USD 345-350/MT, CFR Chittagong, Bangladesh.
— NINL has keep pig iron prices unaltered for Steel & Foundry grade. 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.
— SAIL has floated an export tender for Prime Mild Steel Non-Alloy Concast billets of 5,400 MT (125*125mm) from Durgapur Steel plant and 10,800 MT (150*150mm) from IISCO Steel plant. The due date for submission of bids is 27 Jul’18.
— Raipur, Central India based Integrated plants offering Sponge P-DRI at INR 19,800-19,900/MT & Sponge DR CLO grade at INR 22,700-22,900/MT, ex-plant & excluding GST.
— Odisha based manufacturer – Mahavir Ferro Alloys offered Billet at INR 31,000/MT (ex-plant) and as per official no major deals at these offers.
— Sources reported, Odisha based renowned billet manufacturer concluded 1,000 MT billet export deal to Vietnam at INR 31,500/MT, equivalent to USD 455/MT, ex-mill.
— BMM Ispat a price trend setter in South Indian sponge market has kept offers unaltered and offering FeM 80 P-DRI lumps at INR 18,400/MT ex-Bellary, Karnataka.
— Apple Industries in Bellary (Karnataka) offered Sponge FeM 82 C-DRI lump at INR 19,500/MT & Billet at INR 33,300/MT ex-plant.
Finish Long
— North region based Rathi Steels have increased their prices by around INR 250/MT on day basis and current offering at INR 38,700/MT, size – 12 mm & excluding 18% GST.
— Chennai based Suryadev Alloys offering 12 mm Rebar at INR 39,200/MT which is unchanged on day basis & Billet at INR 34,200/MT, ex-plant & excluding GST.
— Kalika Steel Alloys in Jalna decreased their prices by around INR 200/MT d-o-d basis & offering 28 mm rebars at INR 33,800/MT ex-plant & excluding GST.
— Gujarat based Shreeyam Power & Steel Industries Ltd has increased prices by around INR 200/MT d-o-d basis & offering 20 mm rebars at INR 43,300/MT FoR & including GST at 18%.
— East region based – Baba Smelter Pvt. Ltd has unchanged their Structure (125,150 Channel) offers on day basis & current basic offering at INR 37,750/MT, ex-work & excluding GST.
— Jalna based rebar manufacturer Rajuri Steel Pvt Ltd unchanged their offers on day basis & current offering rebar (28 mm) at INR 34,000/MT, ex-work & excluding GST.
— The suppliers in Raipur have slightly increased their trade discount on Wire rod and current discount range at INR 1,300-1,400/MT due to poor off take.
Reference prices as on 25th July 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Mumbai | HMS(80:20) | 24,700 | 24,600 | 24,800 | + 200 | 24,500 | 25,400 |
| Ex-Chennai | HMS(80:20) | 22,700 | 22,600 | 22,800 | + 100 | 22,800 | 24,900 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 20,300 | 20,200 | 20,400 | 0 | 20,400 | 21,900 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 20,600 | 20,500 | 20,700 | 0 | 20,700 | 20,700 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 21,700 | 21,600 | 21,800 | 0 | 21,700 | 21,300 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,000 | 18,900 | 19,100 | + 100 | 19,300 | 19,200 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 19,100 | 19,000 | 19,200 | 0 | 19,200 | 20,900 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 19,800 | 19,700 | 19,900 | 0 | 19,900 | 19,400 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 18,400 | 18,300 | 18,500 | + 100 | 18,600 | 18,600 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 18,800 | 18,700 | 19,000 | 0 | 19,100 | 19,600 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 33,600 | 33,500 | 33,700 | – 200 | 34,300 | 37,550 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 30,700 | 30,600 | 30,800 | 0 | 31,200 | 34,400 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 30,000 | 29,900 | 30,100 | – 100 | 30,700 | 33,600 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 30,100 | 30,000 | 30,200 | – 300 | 31,000 | 33,700 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 31,500 | 31,400 | 31,600 | + 100 | 31,850 | 34,500 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 33,500 | 33,400 | 33,700 | 0 | 33,800 | 34,300 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 33,200 | 33,100 | 33,300 | 0 | 33,200 | 33,700 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 34,100 | 34,000 | 34,200 | – 200 | 34,800 | 38,000 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 31,300 | 31,200 | 31,400 | 0 | 31,700 | 34,800 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 30,900 | 30,800 | 31,000 | 0 | 31,500 | 34,000 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 30,900 | 30,800 | 31,000 | – 250 | 31,700 | 34,700 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 31,750 | 31,700 | 31,800 | 0 | 32,200 | 34,700 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 34,000 | 33,900 | 34,200 | 0 | 34,300 | 34,800 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 33,500 | 33,400 | 33,600 | 0 | 33,500 | 34,000 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 37,500 | 37,300 | 37,700 | + 100 | 38,800 | 42,200 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 35,300 | 35,100 | 35,500 | – 200 | 36,100 | 39,600 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 34,800 | 34,600 | 35,000 | – 100 | 35,700 | 39,400 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 35,800 | 35,400 | 35,900 | 0 | 36,100 | 38,400 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 38,900 | 38,700 | 39,100 | 0 | 39,200 | 40,000 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 38,000 | 37,500 | 38,000 | 0 | 38,000 | 39,000 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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