During week 18, Indian Semis prices were volatile by INR 500/MT (USD 8).
The producer sources mentioned, in the week opening trade activities was quite good. Although, in 2nd half it recorded mute which resulted fall in prices.
Week – 18 dynamics
1. 78-80 FeM C-DRI offers are assessed at INR 16,200/MT (-500) ex-Durgapur, INR 15,800/MT (0) ex-Rourkela, INR 17,200/MT (0) ex-Raipur and INR 17,100/MT (+400) ex-Bellary. Price changes mentioned are weekly basis.
2. 78-80 FeM P-DRI prices are assessed in the range of INR 15,300-17,700/MT across major markets.
3. 125×125 mm billet prices are evaluated at INR 25,950/MT (-300) in Durgapur, INR 25,500/MT (0) in Rourkela, INR 26,050/MT (+450) in Raipur, INR 27,900/MT (-500) in Mumbai, INR 28,700/MT (+50) ex-Ahmedabad, INR 27,500/MT (-50) in Chennai and INR 28,000/MT (0) in Hyderabad.
4. Downward trend further in Indian pellet market as prices fell again in the range of INR 100-300/MT owing to weak demand in domestic & global market.
5. In the global market there was stability in Iron ore prices. While, slight fall is being assessed in pellets by USD 3/MT. The prices are assessed – Iron ore 62% Fe at USD 67/MT & pellets (6-20 mm) at USD 81/MT; CNF China.
6. Odisha based Neelachal Ispat increase pig iron prices by INR 1,400/MT. While, in Raipur it remain firm and in Durgapur & Giridih, decline by INR 500/MT.
Outlook for Week – 19
1. Indian semis prices are likely to remain on down trend amid falling prices of key raw materials. The manufacturers also mentioned as demand is weakening since couple of weeks, selling pressure is mounting gradually.
2. Indian pellet prices to fall further as demand is not supported globally amid anticipated fall in Iron ore prices for May’17 deliveries.
3. The industry participants mentioned, if the prices of billet slump further, there are chances for further fall in pig iron prices as at current prices, trades are not good.
Indian Raw material & Semis prices as on 29 Apr (Week 18)
| Products | Markets | Prices in INR/MT | W-o-W |
| Billet 125*125 MM | ex-Mumbai | 27,900 | – 500 |
| Scrap HMS (80:20) | ex-Mumbai | 21,500 | + 300 |
| C-DRI 80 FeM | ex-Raipur | 17,200 | 0 |
| P-DRI 80 FeM | ex-Raipur | 15,900 | 0 |
| Pig iron Steel grade | ex-Raipur | 25,100 | – 50 |
| Pellet Fe 63%, 6-20 mm | ex-Durgapur | 5,050 | – 100 |
| Iron ore Fe 62%, 5-18 mm | Joda loaded to wagon | 4,300 | 0 |
Basic prices in INR/MT; all taxes will be applicable
*Incld Royalty, DMF & NMET
Source: SteelMint Research
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