Indian Semi-finished steel prices rise marginally amid average trade activities and as per assessment the domestic Billet prices increase by INR 100-400/MT & Sponge iron by INR 100-300/MT, day-on-day.
The Industry participants are assuming, Indian Semis prices are likely to remain fluctuate due to subdued demand & low conversion spread (margins) of Ingot/Billet manufacturers.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 30,800-34,400/MT (USD 450-503) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 19,300-22,000/MT (USD 282-322); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 1st August 2018 (Wednesday) INR to USD exchange rate stood at INR 68.35
— BSE Sensex closed at 37,521(-84) on Wednesday, as against last day (Tuesday) at 37,606(+112).
Raw material
— Vedanta’s saleable iron ore production from Goa mines stood at 0.2 MnT in Q1 FY19 against 2.2 MnT in Q1 FY18, down sharply 89% Y-o-Y.
— JSW Steel (Dolvi) iron ore sourcing from NMDC decreased sharply by 63% in Jul’18 to 18 rakes as against 48 rakes in Jun’18.
— According to the latest assessment of Coking coal, spot prices of the Premium HCC, Australia have decreased by USD 2-3/MT W-o-W & assessed at USD 185.5/MT CNF India
— Alang, Gujarat scrap offers reported six month low over rising scrap inventories on seasonal poor demand, logistic concern & declining steel prices.
Semi finished
— Vedanta Resource’s (erstwhile Sesa Goa) pig iron production has dropped by 8.24% Q-o-Q in the 1st Quarter of financial year (FY) 2019. Production has reported at 167,000 MT in Q1 FY19 against production of 182,000 MT in Q4 FY18.
— Indian Sponge iron export deals concluded at around USD 325/MT CPT Benapole (dry port of India & Bangladesh), equivalent to USD 345-350/MT CFR Chittagong, Bangladesh.
— Raipur, Central India based Integrated plants offering Sponge P-DRI at INR 20,200-20,400/MT & Sponge DR CLO grade at INR 22,900-23,100/MT ex-plant
— In West Bengal – Durgapur, big manufacturers have increased sponge prices by INR 200-300/MT D-o-D; offering P-DRI at INR 20,100-20,200/MT.
— Raigarh based Singhal Steel offered P-DRI at INR 19,300-19,400/MT ex- plant, an official reported. Also, the company is offering Billets at INR 31,400-31,500/MT FoR Raipur.
— Central India, Raigarh based smelters selling Sponge P-DRI at INR 20,200/MT FoR Raipur.
— Sources reported, Odisha (East India) based furnace owners selling Billet to Hyderabad (South India) at INR 30,800/MT ex-plant, Freight via road at INR 2,100-2,300/MT.
— 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 100/MT, offering FeM 80 & 82 C-DRI lumps at INR 19,400/MT & INR 19,800/MT ex-plant, Karnataka; an official reported.
— Chennai based renowned sponge manufacturer concluded export deal of 1,000 MT C-DRI Lumps to Bangladesh at the price of USD 350/MT CFR Chittagong- Sources
Finish Long
— Shakti Ferro Alloys in Chennai, South region has offered 12 mm Rebar at INR 39,000/MT & Billet at INR 34,000/MT on advance payment, ex-work & excluding GST.
— As per sources, South India based a renowned manufacturer has concluded Billet export deal at USD 495/MT FoB to Philippines, qty. around 10,000 MT.
— Gujarat based Shreeyam Power & Steel Industries Ltd offering 20 mm Rebar at INR 43,800/MT FoR and including GST & Billet at INR 33,200/MT excluding GST.
— Chennai based – Tulsyan NEC Steel (Tulsyan) has unchanged their offer price on day basis & current offering 12 mm Rebar at INR 40,000/MT, ex-plant & excluding GST.
— Jalna based rebar manufacturer – SRJ Peety Steels Pvt Ltd branding Shree Om TMT increased prices by around INR 200/MT on day basis & offering 28 mm Rebar at INR 34,000/MT, ex-work & excluding GST.
— West region based – Vistar TMT current offering 28 mm Rebar at INR 33,000/MT, ex-work & excluding GST which is unchanged on day basis.
— Hyderabad based – Dhanlaxmi Iron Industries offering 28 mm rebar at INR 38,800/MT unchanged on day basis. As per official view average supply movement is happening with existing demand.
— Central region – Raipur based brand – SPEED TMT has unchanged their price on day basis & offering 28 mm Rebar at INR 32,200/MT ex-work & excluding GST. As per official view appropriate bookings at current price range.
Reference prices as on 1st August 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Mumbai | HMS(80:20) | 25,000 | 24,900 | 25,100 | 0 | 24,700 | 25,000 |
| Ex-Chennai | HMS(80:20) | 22,600 | 22,500 | 22,700 | – 100 | 22,700 | 24,100 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 21,400 | 21,300 | 21,500 | + 200 | 20,300 | 21,900 |
| 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 | + 100 | 21,700 | 21,800 | |
| 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 | 20,200 | 20,100 | 20,300 | + 300 | 19,100 | 20,850 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 20,300 | 20,200 | 20,400 | + 100 | 19,800 | 19,950 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 18,500 | 18,400 | 18,600 | 0 | 18,400 | 18,500 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 19,000 | 18,900 | 19,100 | 0 | 18,800 | 19,200 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 33,800 | 33,700 | 33,900 | – 200 | 33,600 | 36,100 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 31,600 | 31,500 | 31,700 | + 300 | 30,700 | 33,500 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 30,050 | 30,000 | 30,100 | + 50 | 30,000 | 32,200 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 30,600 | 30,500 | 30,700 | + 100 | 30,100 | 32,900 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 32,200 | 32,100 | 32,300 | + 200 | 31,500 | 33,200 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 33,900 | 33,800 | 34,000 | + 300 | 33,500 | 34,300 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 33,000 | 33,700 | 33,200 | – 200 | 33,200 | 33,700 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 34,300 | 34,200 | 34,400 | – 200 | 34,100 | 36,500 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 32,200 | 32,100 | 32,300 | + 200 | 31,300 | 34,000 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 30,850 | 30,800 | 30,900 | + 100 | 30,900 | 33,100 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 31,400 | 31,300 | 31,500 | + 200 | 30,900 | 33,900 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 32,500 | 32,400 | 32,600 | + 150 | 31,750 | 33,500 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 34,400 | 34,300 | 34,500 | + 300 | 34,000 | 34,800 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 33,300 | 33,000 | 33,500 | – 200 | 33,500 | 34,000 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 36,700 | 36,400 | 36,800 | 0 | 37,500 | 41,200 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 35,600 | 35,400 | 35,800 | 0 | 35,300 | 38,500 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 34,400 | 34,200 | 34,600 | 0 | 34,800 | 38,300 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 36,000 | 35,800 | 36,200 | 0 | 35,800 | 38,000 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 38,900 | 38,800 | 39,100 | + 200 | 38,900 | 39,800 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 37,500 | 37,300 | 37,700 | 0 | 38,000 | 38,750 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research

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