Indian Semi finished steel prices remain on down trend and as per assessment the prices declined upto INR 800/MT (USD 11) on day trade activities.
The major price fall have seen in Central & East regions by INR 400-800/MT, while in remaining markets it declined by INR 100-300/MT, day-on-day.
The market participants stated, sponge iron prices in Central & East regions have already hit quiet low & are most likely to find support due to higher input cost & some improved buying interest.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 33,500-37,600/MT (USD 462-519) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 22,100-24,500/MT (USD 304-338); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 28th September 2018 (Friday) INR to USD exchange rate stood at INR 72.52
— BSE Sensex closed at 36,227(-97) on Friday, as against last day (Thursday) at 36,324(-218).
Raw Materials
— Odisha Mining Corporation (OMC) – a state-owned miner is to conduct an e-auction for 445,000 MT iron ore lumps on 03 Oct’18, for which base prices have been increased upto INR 800/MT.
— Imported scrap offers for West African HMS 1&2 in containers is learned around USD 340/MT, CFR Nhava Sheva and USD 345/MT, CFR Chennai.
— Melting scrap prices in Maharashtra (Mumbai & Jalna) slump about INR 400-600/MT (USD 5-8) in line with falling Billet prices which fell by INR 600/MT in a day trade.
— South African RB2 (5500 NAR) coal offers are assessed at USD 77/MT on FoB basis & USD 92/MT CNF India.
— Local manufacturers in Raigarh are offering 60-14 Silico Manganese at around INR 71,000/MT ex-plant.
Semi Finished
— Indian sponge iron export deals concluded close to USD 378-380/MT CFR Chittagong, Bangladesh
— Raipur, Central India based Integrated plants offering Sponge P-DRI at INR 22,700-22,900/MT & Sponge DR CLO grade at INR 25,200-25,400/MT ex-plant
— Raigarh based Singhal Steel offered P-DRI at INR 22,000/MT & C-DRI at INR 23,400-23,500/MT ex-Raigarh, an official reported.
— BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 23,000/MT ex-Bellary, Karnataka
— BIOP Steels in South India has decreased sponge prices by around INR 300/MT, offering FeM 80 & 82 C-DRI lumps at INR 24,000/MT & INR 24,500/MT ex-plant, Karnataka; an official reported.
— South India (Telangana) based Cauvery Iron & Steel offers FeM 80 P-DRI & Billet at INR 23,500/MT & INR 36,000/MT. Also offering 28 MM Rebar at INR 37,000/MT. All prices are ex-plant & excluding GST.
Finish Long
— The suppliers in Raipur have slightly raised trade discount to INR 1,000-1,400/MT as against last day at INR 800-1,200/MT.
— Hyderabad (South India) based Pipe manufacturer Mahalakshmi Profiles Pvt. Ltd (MPL) has offered Electric Resistance Welded (ERW) Pipe which is made from strips of hot-rolled steel at INR 43,500/MT ex-plant. (basic & excluding GST).
— Jalna based rebar manufacturer – SRJ Peety Steels Pvt Ltd branding Shree Om TMT decreased their rebar prices by around INR 400/MT to INR 36,800/MT(28 mm), ex-work & excluding GST.
— Mumbai, Maharashtra based SRMM (Ghasiram) reduce structure prices by INR 300/MT on day basis and current offering 40 Angle at INR 41,500/MT, ex-work and excluding GST.
— South India – Chennai based ARS Trusteel unchanged their prices on day basis & current offering Rebar 12 MM at INR 44,300/MT, ex-plant & excluding GST.
— Central region (Raigarh) based Anjani Steels Limited branding Radhe TMT slight reduce their prices by INR 100/MT on day basis and currently offer basic rebar at INR 36,500/MT (Size – 28 MM), ex-work & excluding GST.
— Mumbai, Maharashtra based SUN TMT Fe500 has reduced rebar prices by INR 500/MT on day basis and current offering Rebar (28 mm) at INR 36,700/MT, ex-work & excluding GST.
Reference prices as on 28th September 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 27,200 | 27,100 | 27,300 | – 100 | 27,900 | 27,400 |
| Ex-Mumbai | HMS(80:20) | 27,500 | 27,300 | 27,600 | – 400 | 27,900 | 25,900 | |
| Ex-Chennai | HMS(80:20) | 27,100 | 26,900 | 27,200 | – 300 | 27,100 | 24,900 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 22,100 | 22,000 | 22,200 | – 300 | 23,700 | 24,300 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 23,200 | 23,000 | 23,300 | – 550 | 25,000 | 24,400 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 24,500 | 24,400 | 24,600 | – 400 | 26,100 | 25,600 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 23,800 | 23,700 | 23,900 | – 100 | 24,200 | 23,000 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 20,800 | 20,700 | 20,900 | – 200 | 22,300 | 23,150 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 22,800 | 22,700 | 22,900 | – 200 | 24,500 | 24,500 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 23,000 | 22,900 | 23,100 | – 300 | 23,700 | 22,500 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 23,900 | 23,800 | 24,000 | – 100 | 24,300 | 22,900 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 36,400 | 36,300 | 36,500 | 0 | 37,000 | 37,500 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 33,500 | 33,400 | 33,600 | – 600 | 35,400 | 36,000 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 33,100 | 33,000 | 33,200 | – 300 | 34,200 | 34,500 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 33,100 | 33,000 | 33,200 | – 650 | 34,500 | 34,600 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 35,300 | 35,200 | 35,400 | – 600 | 36,300 | 35,800 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 37,100 | 37,000 | 37,200 | – 200 | 38,000 | 36,500 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 35,700 | 35,600 | 35,800 | 0 | 36,200 | 36,200 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 37,200 | 37,100 | 37,300 | + 100 | 37,600 | 38,000 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 34,200 | 34,100 | 34,300 | – 400 | 35,900 | 36,500 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 33,600 | 33,500 | 33,700 | – 600 | 35,200 | 35,500 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 34,000 | 33,900 | 34,100 | – 700 | 35,400 | 35,600 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 35,600 | 35,500 | 35,600 | – 600 | 36,500 | 36,000 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 37,600 | 37,500 | 37,700 | – 200 | 38,500 | 37,000 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 36,000 | 35,900 | 36,100 | 0 | 36,500 | 36,500 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 39,500 | 39,300 | 39,500 | 0 | 40,700 | 40,900 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 39,100 | 38,900 | 39,300 | – 200 | 40,300 | 40,600 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 38,100 | 38,000 | 38,200 | – 500 | 39,100 | 39,000 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 39,900 | 39,500 | 40,000 | – 500 | 40,400 | 40,100 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 42,300 | 42,300 | 42,500 | 0 | 42,800 | 41,400 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 39,500 | 39,300 | 39,700 | – 200 | 40,000 | 40,000 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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