Today, Indian Semis prices fluctuate amid average trade inquires and the price changes have seen in Billet by INR 200-500/MT & Sponge iron by INR 100-200/MT.
The participants in Central India mentioned that, standalone Billet manufacturers are not willing to deal at lower prices as conversion spread (margins) low and also due to sufficient orders in hand.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 35,400-38,600/MT (USD 500-545) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 23,200-25,700/MT (USD 327-363); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 30th August 2018 (Thursday) INR to USD exchange rate stood at INR 70.86
— BSE Sensex closed at 38,690(-32) on Thursday, as against last day (Wednesday) at 38,722(-173).
Trade Updates
— Few Odisha based major merchant miners like Serajuddin Mines, KJS Ahluwalia, Kaypee Enterprises, KN Ram have increased iron ore prices for 2nd time in a week. Both fines & lump prices have increased by INR 300-400/MT.
— Bellary pellet prices have increased by INR 300/MT in last 2 days. Current assessment around INR 7,800-8,000/MT (basic).
— Jindal SAW raised pellet offers to INR 8,800/MT (delivered Kandla) for fe 63% pellets.
— Imported scrap offers to India for HMS 1&2 (80:20) Dubai origin containers stood at around USD 335/MT, CFR Nhava Sheva
— South African RB2 (5500 NAR) coal offers are assessed at USD 79/MT on FoB basis & USD 93/MT CNF India. Prices decline by USD 3/MT on weekly basis..
— Indian sponge iron export offers to Bangladesh for lumps of grade FeM 78-80, reported at USD 370/MT CPT Benapole (dry land port of Bangladesh & India) and USD 390/MT CFR Chittagong, Bangladesh.
— Jharkhand based major merchant pig iron suppliers – Atibir Industries & Electro Steels have kept sale closed and the fresh offers to be rise, as per officials. The last deals for Steel grade reported – Atibir Industries at INR 30,500-30,600/MT & Electro Steels – at INR 30,000-30,200/MT.
— Raipur, Central India based Integrated plants offer unaltered, offering Sponge P-DRI at INR 24,500-24,700/MT & Sponge DR CLO grade at INR 26,600-26,800/MT ex-plant.
— Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 24,500/MT & Billet at INR 35,500/MT ex-plant.
— BIOP Steels in South India has kept offers unaltered; offering FeM 80 & 82 C-DRI lumps at INR 23,000/MT & INR 23,600/MT ex-plant, Karnataka; an official reported.
— South India (Telangana) based Cauvery Iron & Steel offers FeM 80 P-DRI & Billet at INR 23,200/MT & INR 36,500/MT. Also offering 28 MM Rebar at INR 37,500/MT. All prices are ex-plant & excluding GST.
Reference prices as on 30th August 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Mumbai | HMS(80:20) | 25,900 | 25,800 | 26,000 | 0 | 25,600 | 25,000 |
| Ex-Chennai | HMS(80:20) | 24,900 | 24,800 | 25,000 | 0 | 23,800 | 22,600 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 24,450 | 24,400 | 24,500 | – 50 | 24,200 | 21,400 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 24,500 | 24,400 | 24,600 | 0 | 23,100 | 20,600 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 25,700 | 25,600 | 25,800 | + 100 | 24,400 | 22,000 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 23,200 | 23,100 | 23,300 | + 100 | 21,100 | 19,300 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 23,350 | 23,300 | 23,400 | + 50 | 23,200 | 20,100 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 24,600 | 24,500 | 24,700 | + 50 | 23,600 | 20,250 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 22,800 | 22,700 | 22,900 | + 100 | 20,400 | 18,600 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 23,000 | 22,900 | 23,100 | + 200 | 20,700 | 19,100 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 37,800 | 37,700 | 37,900 | + 250 | 37,200 | 34,500 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 36,300 | 36,200 | 36,400 | + 300 | 34,700 | 31,700 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 34,600 | 34,500 | 34,700 | + 200 | 33,200 | 30,300 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 35,050 | 35,000 | 35,100 | + 450 | 34,000 | 30,800 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 35,850 | 35,800 | 35,900 | + 250 | 34,600 | 32,400 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 36,500 | 36,400 | 36,600 | – 300 | 35,000 | 34,200 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 36,200 | 36,100 | 36,300 | 0 | 34,700 | 33,200 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 38,600 | 38,500 | 38,700 | + 500 | 37,600 | 35,100 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 36,800 | 36,700 | 36,900 | + 300 | 35,200 | 32,300 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 35,500 | 35,400 | 35,600 | + 100 | 34,000 | 31,000 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 36,000 | 35,900 | 36,100 | + 400 | 35,000 | 31,600 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 36,100 | 36,000 | 36,200 | + 250 | 34,900 | 32,700 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 37,000 | 36,900 | 37,100 | – 300 | 35,500 | 34,700 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 36,500 | 36,400 | 36,600 | 0 | 35,000 | 33,500 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 40,900 | 40,700 | 41,100 | – 500 | 39,800 | 36,700 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 40,800 | 40,600 | 41,000 | + 300 | 38,500 | 35,600 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 39,100 | 39,000 | 39,300 | – 300 | 38,300 | 34,600 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 40,100 | 39,700 | 40,200 | 0 | 38,400 | 36,200 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 41,400 | 41,200 | 41,600 | + 200 | 39,900 | 39,000 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 40,000 | 39,800 | 40,200 | 0 | 38,500 | 37,500 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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