In the week opening, Indian Semi finished steel offers fall slightly – Sponge iron by INR 100/MT & Billet by INR 100-300/MT. As per market participants, the prices decline on account of limited inquiries.
In current circumstances the Industry participants believe stability in prices looking at poor margins (conversion spread) of Ingot/Billet producers. In addition better export inquiries are somehow indicating supportive prices in near term.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 30,800-34,100/MT (USD 448-497) ex-plant. Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 19,300-22,000/MT (USD 281-321); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 30th July 2018 (Monday) INR to USD exchange rate stood at INR 68.65
— BSE Sensex closed at 37,494(+157) on Monday, as against last day (Friday) at 37,336(+352).
Raw material
— Rungta Mines – India’s largest private merchant miner produced 2.08 MnT iron ore in June’18, down by 22% M-o-M as against 2.66 MnT in May’18.
— Odisha Mining Corporation (OMC), a state-owned miner is to conduct next e-auction for 290,000 MT iron ore CLO and lump on 03 Aug’18.
— Imported scrap offers to India for HMS 1&2 (80:20) Dubai origin containers stood at around USD 330/MT, CFR Nhava Sheva
Semi finished
— Jindal Steel has offer Steel grade Pig iron at INR 29,000/MT ex-plant, Raigarh & Panther shots (Granulated pig iron) at INR 27,500/MT ex-plant, Angul – Odisha.
— Sources reported, NINL received good response in pig iron offers and more than 30,000 MT has been booked by Central & North India based stockiest. The Fresh domestic prices for Steel (N1) grade at INR 27,500-27,900/MT (USD 400-406) & Foundry (N2) grade at INR 28,500/MT (USD 415); prices are excluding GST, ex-Cuttack, East India
— Raipur, Central India based Integrated plants offers unaltered, offering Sponge P-DRI at INR 20,300-20,400/MT & Sponge DR CLO grade at INR 23,000-23,100/MT ex-plant.
— Rashmi Metaliks in Durgapur, known as price trend setter heard to has unchanged Sponge prices and offered P-DRI at INR 20,000/MT & Billet around INR 32,000/MT.
— Raigarh based smelters purchased 80 FeM C-DRI mix material from Odisha at INR 21,300/MT FoR Raigarh
— Raigarh based Singhal Steel offered P-DRI at INR 19,400/MT ex- plant, an official reported. Also, the company is offering Billets at INR 31,500/MT FoR Raipur.
— Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 20,500-20,600/MT & Billet at INR 30,700-30,800/MT ex-plant. As per officials, trade activities average at the offer prices.
— 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 18,500-18,600/MT ex-Bellary, Karnataka.
— BIOP Steels in South India has increased sponge prices by around INR 200/MT, offering FeM 80 & 82 C-DRI lumps at INR 19,300/MT & INR 19,700/MT ex-plant, Karnataka; an official reported.
— South India (Telangana) based Cauvery Iron & Steel offers FeM 80 P-DRI & Billet at INR 19,200/MT & INR 33,500/MT. Also offering 28 MM Rebar at INR 34,700/MT (Adv. payment). All prices are ex-plant & excluding GST.
Finish Long
— Central region, Raipur based brand as SPEED TMT known as price settler for other brands unchanged their prices on day basis & current offering basic rebar at INR 32,500/MT (size – 28 mm), ex-work & excluding GST.
— Shakti Ferro Alloys in Chennai, South Region has offered Rebar at INR 39,000/MT (12 mm) & Billet offering at INR 34,000/MT on advance payment term ex-work & excluding GST. As per official view demand is dull and South East Asia – Billet buying inquiries reach around USD 480-485/MT which can’t be concluded as price realization is better in domestic trades.
— Jalna based rebar manufacturer – SRJ Peety Steels Pvt Ltd branding Shree Om TMT has unchanged their prices on day basis & current offering rebar at INR 33,800/MT (28 mm), ex-work & excluding GST.
— Gujarat based, Keyur Ispat Ltd has unchanged their price on d-o-d basis & offering basic rebar at INR 44,000/MT FoR & including GST at 18%, Size – 20 mm & Billet at around INR 33,200-33,400/MT, ex-work and excluding GST.
— Rathi Steels, known as price trend setter for Northern region has decreased prices by around INR 1,000/MT on day basis and offered 12 mm at INR 37,700/MT ex-Delhi. As per Co. associates, dull inquiries led to slow supply movement and might get slight amendment further.
— West region – Kolhapur based – ARYA STEELS ROLLING (INDIA) LIMITED branding as Power-X offered rebar 28 mm at INR 33,800/MT; unchanged on day basis. The company’s monthly rebar production capacity at around 15,000 MT.
— Today, suppliers in Raipur have increased trade discount on Wire rod and current discount is up to INR 1,500/MT.
Reference prices as on 30th July 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Mumbai | HMS(80:20) | 25,000 | 24,900 | 25,100 | + 200 | 24,500 | 25,000 |
| Ex-Chennai | HMS(80:20) | 22,700 | 22,600 | 22,800 | 0 | 22,600 | 24,900 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 21,200 | 21,200 | 21,300 | 0 | 20,200 | 22,200 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 20,700 | 20,600 | 20,800 | – 100 | 20,600 | 20,800 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 22,000 | 21,900 | 22,100 | 0 | 21,700 | 21,600 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,300 | 19,200 | 19,400 | 0 | 19,000 | 19,200 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 19,900 | 19,800 | 20,000 | 0 | 19,000 | 21,200 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 20,350 | 20,300 | 20,400 | – 50 | 19,700 | 19,850 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 18,600 | 18,500 | 18,700 | 0 | 18,200 | 18,600 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 19,100 | 19,000 | 19,200 | 0 | 18,800 | 19,400 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 33,600 | 33,500 | 33,700 | – 400 | 33,900 | 36,800 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 31,300 | 31,200 | 31,400 | – 300 | 30,800 | 34,000 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 30,200 | 30,100 | 30,300 | 0 | 30,200 | 33,000 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 30,550 | 30,500 | 30,600 | – 250 | 30,700 | 33,300 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 32,050 | 32,000 | 32,100 | + 450 | 31,500 | 34,100 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 33,600 | 33,500 | 33,700 | 0 | 33,500 | 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 | – 400 | 34,400 | 37,300 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 31,900 | 31,800 | 32,000 | – 300 | 31,400 | 34,500 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 30,800 | 30,700 | 30,900 | 0 | 30,900 | 33,800 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 31,400 | 31,300 | 31,500 | – 200 | 31,300 | 34,300 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 32,350 | 32,300 | 32,400 | + 450 | 31,800 | 34,300 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 34,100 | 34,000 | 34,200 | 0 | 34,000 | 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 | 37,000 | 36,500 | 37,000 | – 500 | 37,700 | 42,000 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 35,600 | 35,400 | 35,800 | 0 | 35,600 | 39,300 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 34,700 | 34,500 | 34,900 | 0 | 35,100 | 39,200 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 35,900 | 35,700 | 36,100 | + 200 | 35,800 | 38,600 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 38,700 | 38,500 | 39,000 | – 200 | 39,000 | 39,800 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 37,500 | 37,300 | 37,700 | – 500 | 38,000 | 39,250 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
Leave a Reply