Today, Indian steel market reported volatility in prices amid subdued trade activities. As per assessment the Billet prices fluctuated by INR 100-500/MT & Sponge iron by about INR 100-200/MT, day-on-day.
The participants reported, trade inquiries have improved today compared from last few days. They further mentioned, Semis prices are less likely to fall sharply either it will be stable or gradually stand supported.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 32,500-36,300/MT (USD 439-490) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 21,700-23,300/MT (USD 293-315); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 5th October 2018 (Friday) INR to USD exchange rate stood at INR 73.93
— BSE Sensex closed at 34,376(-792) on Friday, as against last day (Thursday) at 35,169(-806). While the NSE Nifty50 index was closed today at 10,316(-282)
Key Updates
— SAIL has floated a export tender for Prime Mild Steel Non-Alloy Concast billets of 13,500 MT (125*125mm) from Durgapur Steel plant. The due date for submission of bids is 10 Oct’18.
— Vizag steel has received a good response to its 10,836 MT (90*90mm) billet export tender for Nepal which was floated on 29th Sep’18 and the highest bid for the Billet export tender reported at around USD 500-505/MT, ex-Mill.
— Bhushan Steel which was recently acquired by steel giant Tata Steel has posted an jump of 8% in its crude steel output in Q2 FY19 (Jul-Sep’19) at 1.05 MnT against 0.97 MnT in Q1 FY19 (Apr-Jun’18).
— SM Niryat turned out to be the largest iron ore exporter in Sept’18, contributed 53% of total exports at 0.062 MnT and remaining 47% contributed by Rungta Mines at 0.06 MnT.
— Offers for UK and Europe origin Shredded scrap in containers heard stable in the range of USD 355-363/MT, CFR Nhava Sheva, India.
— Atibir Industries based in Giridih, Jharkhand has further reduced pig iron prices and latest offers for Steel grade reported at INR 29,500/MT with a bulk purchase discount of upto INR 500/MT.
— Rashmi Metaliks in Durgapur has incresed sponge prices by around INR 200/MT and today offers for P-DRI heard at around INR 20,500/MT.
— Raipur, Central India based Integrated plants have rolled over Sponge P-DRI prices to INR 21,900-22,100/MT ex-plant.
— Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 22,300-22,400/MT & Billet at INR 32,500/MT ex-plant.
— BMM Ispat a price trend setter in South Indian sponge market has kept offers unaltered today and offered FeM 80 P-DRI lumps at INR 22,000/MT ex-Bellary, Karnataka.
— ILC Iron & Steel, a prime grade sponge maker in Karnataka offered FeM 80 P-DRI at INR 21,800/MT ex-plant, an official reported.
— South India (Telangana) based Cauvery Iron & Steel offers FeM 80 P-DRI & Billet at INR 22,200/MT & INR 34,500/MT. Also offering 28mm rebar at INR 36,000/MT. All prices are ex-plant & excluding GST.
— Raipur (Central India) & Mandi Gobindgarh (North India) based pipe manufacturers kept offers unaltered, offering ERW pipe at INR 40,000/MT & INR 43,000/MT, respectively; prices are ex-plant & excluding GST.
— 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 42,000/MT ex-plant. (basic & excluding GST).
— The suppliers in Raipur have slightly decreased trade discount on wire rod and today’s discount at INR 1,000-1,200/MT.
Reference prices as on 5th October 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 26,700 | 26,600 | 26,800 | 0 | 27,200 | 28,700 |
| Ex-Mumbai | HMS(80:20) | 26,100 | 25,900 | 26,200 | 0 | 27,500 | 26,650 | |
| Ex-Chennai | HMS(80:20) | 26,800 | 26,700 | 27,100 | 0 | 27,100 | 25,650 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 21,700 | 21,600 | 21,800 | + 100 | 22,100 | 25,700 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 22,400 | 22,300 | 22,500 | + 100 | 23,200 | 25,400 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 23,300 | 23,200 | 23,400 | – 200 | 24,300 | 26,700 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 22,400 | 22,300 | 22,500 | – 100 | 23,800 | 24,100 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 20,200 | 20,100 | 20,300 | 0 | 20,800 | 24,700 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 21,900 | 21,800 | 22,000 | 0 | 22,700 | 25,300 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 21,800 | 21,700 | 21,900 | – 100 | 23,000 | 23,600 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 22,200 | 22,100 | 22,300 | – 100 | 23,800 | 24,000 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 35,500 | 35,400 | 35,600 | + 500 | 36,400 | 38,500 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 33,000 | 32,900 | 33,100 | 0 | 33,500 | 37,000 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 31,900 | 31,800 | 32,000 | + 100 | 33,100 | 35,500 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 32,450 | 32,400 | 32,500 | + 250 | 33,100 | 35,950 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 34,000 | 33,900 | 34,100 | + 200 | 35,300 | 37,200 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 35,700 | 35,500 | 35,900 | – 500 | 37,100 | 37,000 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 34,500 | 34,300 | 34,700 | – 200 | 35,700 | 37,200 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 36,300 | 36,200 | 36,400 | + 500 | 37,200 | 39,000 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 33,400 | 33,300 | 33,500 | – 100 | 34,200 | 37,600 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 32,500 | 32,400 | 32,600 | – 100 | 33,600 | 36,500 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 33,300 | 33,200 | 33,400 | + 300 | 34,000 | 36,950 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 34,300 | 34,200 | 34,400 | + 200 | 35,600 | 37,500 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 36,200 | 36,000 | 36,400 | – 500 | 37,600 | 37,500 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 34,700 | 34,500 | 35,000 | – 300 | 36,000 | 37,500 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 38,000 | 37,800 | 38,000 | – 200 | 39,500 | 41,100 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 38,300 | 38,100 | 38,500 | – 200 | 39,100 | 41,300 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 37,300 | 37,100 | 37,400 | 0 | 38,100 | 39,800 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 38,700 | 38,300 | 38,800 | 0 | 39,900 | 41,200 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 41,500 | 41,300 | 41,600 | – 300 | 42,300 | 41,600 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 38,500 | 38,300 | 38,700 | 0 | 39,500 | 40,800 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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