Indian billet & rebar prices declined on account of limited inquiries and as per assessment the drop is about INR 100-500/MT in a day trade activities with major fall of INR 500/MT in Hyderabad, Southern region.
Also, the sponge iron market registered slight decline in price range by INR 100-200/MT owing to lessened spot trades.
Industry sources believe that, the Semis prices likely to remain volatile or find support in coming days due to bottom line conversion spread (margins) and falling supply in merchant market.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 26,200-30,000/MT (USD 380-435) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 16,600-17,700/MT (USD 240-257); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 23rd July 2019 (Tuesday) INR to USD exchange rate stood at INR 68.93.
— ICEX (Indian Commodity Exchange Ltd) Aug’19 contract for STEELLONG today open at INR 29,190/MT & last traded (IST 18:14) at INR 29,000/MT.
— BSE Sensex closed at 37,982(-48) on Tuesday, as against last day (Monday) at 38,031(-305).
— NSE Nifty50 index was closed today at 11,331(-15) & Nifty Metal at 2,778(-9).
Raw Materials
— Imported scrap offers to India for HMS (80:20) Europe origin containers stood at around USD 295/MT, CFR Nhava Sheva.
— Melting scrap offers in Western India- Gujarat decline by INR 200/MT in a day trade activities.
Semi Finished
— As per sources, Mesco Steels in Jajpur, Odisha has reduced steel grade pig iron prices by INR 500/MT to INR 24,100-24,200/MT ex-plant.
— Raipur based major plants reduced sponge P-DRI prices by INR 200/MT to INR 16,800-17,000/MT, few deals reported.
— Durgapur based major sponge producers have maintained offers firm at around INR 17,000/MT for P-DRI. However, deals through the 100-300 TPD manufacturers learned at near to INR 16,800/MT.
— Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 16,600/MT & Billet at INR 26,200/MT ex-plant.
— Aloke Steel Industries (Jharkhand) offered Fem 78-80 C-DRI lumps at INR 17,300/MT & Sponge mix material (60:40) at INR 17,000/MT ex-plant. Manufacturer is also offering trade discount of INR 300/MT in bulk bookings.
— Apple Industries in Bellary (Karnataka) offered Billet at INR 28,400/MT ex-plant.
— BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 16,300-16,400/MT ex-Bellary.
— BIOP Steels in South India has decreased sponge prices by INR 100/MT, offering FeM 80 & 82 C-DRI lumps at INR 16,600/MT & INR 17,000/MT ex-plant, Karnataka; an official reported.
— Hyderabad, South India based steel manufacturers decreased their Billet & Rebar offer by INR 500/MT to INR 28,500/MT & INR 32,500/MT (12 mm). Prices are ex-plant & excluding GST.
— Sources reported a day before, Hyderabad based mill owners booked 3,000-4,000 MT Billets from Odisha at INR 28,700-29,000/MT on FoR Basis. Freight cost via road to Hyderabad at INR 2,200-2,300/MT.
Wire Rod & Pipe
— Trade discounts in Raipur Wire rod slightly down at INR 1,500-1,700/MT and the base price of 5.5 mm stood at INR 33,100/MT ex-plant. Similarly in Durgapur trade reference prices drop by INR 200/MT to INR 30,600-31,500/MT ex-plant.
— Mandi Gobindgarh, North India based ERW pipe manufacturers offers reported at around INR 35,900/MT ex-plant & excluding GST.
— Raipur, Central India based ERW pipe manufacturers offers reported at around INR 34,000-34,200/MT ex-plant & excluding GST.
Rebar (12 mm)
— Raipur based – SPEED TMT is offering at INR 30,800/MT(down by INR 300/MT).
— Real Ispat (GK TMT) has unchanged their offers at INR 33,300/MT.
— Raigarh based Anjani Steels Ltd. (Radhe TMT) is offering at INR 30,700/MT(down by INR 200/MT).
— Raigarh based Scan Group branding (Shrishti TMT) has unchanged their offers at INR 30,900/MT
— Gujarat based Shreeyam Power & Steel Industries Ltd. (National TMT) has unchanged their offers at INR 33,700/MT FoR.
— Jalna based Bhagyalaxmi Rolling Mill Pvt Ltd (Polaad TMT) is offering at INR 32,900/MT(up by INR 200/MT).
— Jalna based Rajuri Steel Pvt. Ltd. (Rajuri TMT) has unchanged their offers at INR 32,800/MT.
— Chennai based ARS Steel (Trusteel – 550D) has unchanged their offers at INR 36,300/MT.
— Chennai based Sakthi Ferro Alloys India Pvt. Ltd. (SSI TMT) is offering at INR 34,500/MT.
Note – Prices mentioned above are ex-work, excluding GST & changes are placed on day basis. Prices are subject to reconfirmation.
Reference prices as on 23rd July 2019
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 22,100 | 22,000 | 22,200 | – 200 | 22,100 | 23,600 |
| Ex-Mumbai | HMS(80:20) | 21,300 | 21,100 | 21,400 | 0 | 21,100 | 23,000 | |
| Ex-Chennai | HMS(80:20) | 20,400 | 20,300 | 20,600 | – 100 | 20,600 | 22,100 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 17,800 | 17,700 | 17,900 | – 50 | 17,400 | 17,900 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 16,650 | 16,600 | 16,700 | – 150 | 16,500 | 16,900 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 17,700 | 17,600 | 17,800 | – 200 | 17,500 | 17,300 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 16,600 | 16,500 | 16,700 | – 100 | 16,500 | 17,300 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 16,800 | 16,700 | 16,900 | – 50 | 16,500 | 16,900 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 16,800 | 16,700 | 16,900 | – 200 | 16,500 | 16,400 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 16,300 | 16,200 | 16,400 | 0 | 16,200 | 16,800 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 16,700 | 16,600 | 16,800 | 0 | 16,600 | 17,300 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 29,950 | 29,900 | 30,000 | – 100 | 29,900 | 31,000 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 26,400 | 26,300 | 26,500 | 0 | 26,400 | 28,400 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 25,900 | 25,800 | 26,000 | – 100 | 26,000 | 27,100 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 26,600 | 26,500 | 26,700 | – 300 | 26,600 | 27,650 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 27,850 | 27,800 | 27,900 | – 150 | 27,700 | 29,400 | |
| Billet | Ex-Mandi Gobindgarh | 100×100 mm, IS 2831 | 30,000 | 29,900 | 30,100 | – 100 | 30,000 | 31,200 |
| Ex-Durgapur | 100×100 mm, IS 2831 | 26,900 | 26,800 | 27,000 | – 100 | 27,000 | 28,900 | |
| Ex-Rourkela | 100×100 mm, IS 2831 | 26,200 | 26,200 | 26,300 | – 200 | 26,400 | 27,600 | |
| Ex-Raipur | 100×100 mm, IS 2831 | 27,050 | 27,000 | 27,100 | – 300 | 27,200 | 28,300 | |
| Ex-Ahmedabad | 100×100 mm, IS 2831 | 28,700 | 28,600 | 28,800 | – 300 | 28,700 | 30,100 | |
| Ex-Mumbai | 100×100 mm, IS 2831 | 28,150 | 28,100 | 28,200 | – 150 | 27,900 | 29,600 | |
| Ex-Chennai | 100×100 mm, IS 2831 | 29,200 | 29,100 | 29,300 | + 50 | 29,200 | 30,100 | |
| Ex-Hyderabad | 100×100 mm, IS 2831 | 28,500 | 28,400 | 28,600 | – 500 | 28,500 | 29,000 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 34,300 | 34,200 | 34,500 | 0 | 34,400 | 35,800 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 31,300 | 31,100 | 31,500 | – 200 | 31,800 | 33,600 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 30,500 | 30,400 | 30,700 | – 300 | 31,000 | 32,800 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 31,300 | 31,200 | 31,500 | 0 | 31,300 | 32,900 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 33,600 | 33,500 | 33,800 | – 100 | 33,800 | 35,100 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 32,500 | 32,400 | 32,600 | – 500 | 32,500 | 33,000 | |
| Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 30,800 | 30,600 | 31,500 | – 200 | 31,300 | 33,500 |
| Ex-Raipur | Wire Rod(5.5 MM) | 32,300 | 31,500 | 33,100 | – 200 | 32,900 | 34,100 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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