Domestic Semi finished prices moved downward on 22 Sep’17, as weak sentiments continuous. The prices decline – Sponge by INR 50-200/MT & Billet by INR 100-400/MT, D-o-D.
SteelMint’s price assessment for induction furnaces billet size 125×125 mm are reported at INR 26,100-28,400/MT (USD 401-437). While, coal based 78-80 FeM sponge C-DRI price assessment was at INR 16,700-17,700/MT (USD 257-273). All prices are ex-works & excluding GST.
Today (Friday, September 22, 2017) INR to USD exchange rate stood at INR 64.86 & BSE Sensex closed at 31,922(-447).
Trade Updates:
1. Indian crude steel production up by 4% Y-o-Y & stood at 8.47 MnT in Aug’17 against 8.14 MnT in Aug’16.
2. Raipur based few medium size plants heard to have sold P-DRI at INR 15,700-15,900/MT which was yesterday around INR 16,000/MT, ex-plant & excluding of GST. Sponge DR-CLO grade offers are reported in the range of INR 18,000-18,200/MT for mix material.
3. Durgapur, East India big manufacturers have reduced offers by INR 100/MT; P-DRI at INR 16,800-16,900/MT & C-DRI at INR 17,700-17,800/MT.
4. BMM Ispat in South India has reduced offers for FeM 80 P-DRI by INR 300-400/MT to INR 16,500-16,600/MT ex-Bellary, Karnataka.
5. Sunvik Steels in Karnataka kept sponge prices stable; offering FeM 80 & 82 C-DRI are INR 17,400/MT and INR 17,800/MT ex-plant
6. Rashtriya Ispat Nigam Limited (RINL), Indian state owned mlll concludes Billet tender to Nepal at USD 480-490/MT and Wire Rod at USD 520-525/MT on ex-mill basis.
7. Odisha based private manufacturer namely – Ganesh Metaliks has sold Induction furnace grade billet to Nepal at USD 408/MT (INR 26,400/MT) ex-mill, according to officials. Durgapur – East India based small mills also concluded few deals to Nepal at USD 420-425/MT (ex-mill).
8. Indian Bulk Billet Exports Cross 100,000 MT in September 2017, as per the SteelMint stats.
Reference prices as on 22 September 2017
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 17,800 | 17,700 | 17,900 | – 50 | 17,400 | 17,800 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 16,700 | 16,600 | 16,800 | – 200 | 17,100 | 17,500 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 17,700 | 17,600 | 17,800 | – 100 | 18,000 | 18,700 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 16,900 | 16,800 | 17,000 | – 150 | 17,400 | 17,300 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 16,900 | 16,800 | 17,000 | – 50 | 16,450 | 16,800 |
| Ex-Rourkela | Lumps, FeM 78%, +/-1 | 15,400 | 15,300 | 15,500 | – 100 | 15,800 | 16,600 | |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 16,000 | 15,900 | 16,100 | – 100 | 16,700 | 17,400 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 16,550 | 16,500 | 16,600 | – 150 | 17,100 | 17,100 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 28,650 | 28,600 | 28,700 | – 350 | 28,600 | 29,250 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 26,200 | 26,100 | 26,300 | – 200 | 26,000 | 26,500 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 25,750 | 25,700 | 25,800 | – 50 | 25,400 | 25,600 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 26,000 | 25,900 | 26,100 | – 300 | 26,500 | 26,350 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 27,100 | 27,000 | 27,200 | 0 | 26,800 | NA | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 27,750 | 27,700 | 27,800 | 0 | 27,750 | 28,750 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 29,000 | 28,900 | 29,100 | – 400 | 29,000 | 29,500 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 26,700 | 26,600 | 26,800 | – 150 | 26,450 | 26,800 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 26,100 | 26,000 | 26,200 | 0 | 25,800 | 26,000 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 26,700 | 26,600 | 26,800 | – 200 | 27,000 | 26,800 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 27,400 | 27,300 | 27,500 | – 100 | 27,000 | NA | |
| Ex-Chennai | 125×125 mm, IS 2831 | 28,000 | 27,800 | 28,200 | 0 | 28,000 | 29,250 | |
| TMT | Ex-Delhi/NCR | 12MM | 32,200 | 32,100 | 32,300 | – 300 | 31,700 | 32,500 |
| Ex-Durgapur | 12MM | 29,600 | 29,500 | 29,700 | 0 | 29,500 | 29,500 | |
| Ex-Raipur | 12MM | 29,600 | 29,500 | 29,700 | – 100 | 29,800 | 29,600 | |
| Ex-Mumbai | 12MM | 30,700 | 30,400 | 30,800 | 0 | 30,700 | NA | |
| Ex-Chennai | 12MM | 32,000 | 31,900 | 32,100 | 0 | 32,000 | 33,000 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
Leave a Reply