Indian spot steel trades improved today, however price corrections remain in major markets. As per daily assessment, the billet prices fall by INR 200-500/MT in west and southern regions & Sponge iron by INR 100-200/MT in central and eastern India.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 33,100-36,700/MT (USD 451-500) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 21,800-23,000/MT (USD 297-314); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 26th October 2018 (Friday) INR to USD exchange rate stood at INR 73.35.
— BSE Sensex closed at 33,349(-340) on Friday, as against last day (Thursday) at 33,690(-343).
— NSE Nifty50 index was closed today at 10,030(-94).
Raw Materials
— According to the latest assessment, spot prices for the Premium HCC Coking coal are at around USD 219.50/MT FoB Australia & USD 234.5/MT CNF India.
— Presently, import offers of iron ore lumps, Fe 64%, South African origin are at USD 102/MT CNF India.
— Local manufacturers in Raipur are offering 60-14 Silico Manganese at around INR 70,500-71,000/MT ex-plant.
Billet & Sponge iron
— BHEL had invited a global tender for purchase of 13,500 MT carbon steel/alloy steel round rolled bloom for manufacturing of hot and cold finished seamless steel tubes/pipes as per Indian Boiler Regulations (IBR) at Tiruchirappalli, Tamil Nadu. And the due date for bid submission is 08 Nov’18
— Indian sponge iron export offers to Bangladesh for lumps of grade FeM 78-80 hovering at USD 340/MT CPT Benapole (dry land port of Bangladesh & India) and USD 360/MT, CFR Chittagong.
— As per a official of Integrated plant in Raipur, Central India near about 5,000 MT Sponge P-DRI sold at an average price of INR 21,100/MT ex-plant.
— Aloke Steel Industries (Jharkhand) offered Fem 78-80 C-DRI lumps at INR 23,100/MT & Sponge mix material (60:40) at INR 22,800/MT ex-plant
— Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 22,200/MT & Billet at INR 33,200/MT ex-plant
— Barbil based manufacturers reported, firm trades as limited inquiries in the market, Offers for billet & FeM 80 Sponge mix material reported at INR 32,800/MT & INR 21,500-21,600/MT respectively, ex-plant.
— BIOP Steels in South India has offer FeM 80 & 82 C-DRI lumps at INR 22,300/MT & 22,800/MT ex-plant, Karnataka; an official reported.
— A day before, Apple Industries in Bellary (Karnataka) concluded few deals of Sponge FeM 83+ P-DRI lump at INR 22,300/MT (ex-plant) in local market, & also offering Billet at INR 33,800/MT ex-plant.
Rebar (12 mm)
— Rathi Steels in North region offering at INR 40,100/MT, down by INR 750/MT.
— Raipur based – SPEED TMT unchanged their offering at INR 37,000/MT.
— Gujarat based Shreeyam Power & Steel Industries Ltd (National TMT) offering at INR 38,000/MT FoR, down by 300/MT.
— Jalna based SRJ Peety Steels Pvt Ltd (Shree Om) TMT offering INR 37,300/MT, down by 400/MT.
— Chennai based ARS Steel (Trusteel) unchanged their offering at INR 42,400/MT.
Wire rod & Pipe
— Raipur based wire rod suppliers decreased trade discount and today’s discount is about INR 1,000/MT.
— Mandi Gobindgarh, North India based ERW pipe manufacturers decreased prices by INR 500/MT & reported at around INR 43,000/MT.
— Hyderabad (South India) based Pipe manufacturer Mahalakshmi Profiles Pvt. Ltd (MPL) has reduced offers by INR 400/MT & offering ERW pipe at INR 42,100/MT.
Note – All prices are mentioned above based on ex-work, excluding GST and changes are placed day-on-day basis.
Reference prices as on 26th October 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 26,400 | 26,300 | 26,500 | – 400 | 27,400 | 27,200 |
| Ex-Mumbai | HMS(80:20) | 25,500 | 25,500 | 25,700 | 0 | NA | 27,500 | |
| Ex-Chennai | HMS(80:20) | 26,300 | 26,100 | 26,500 | – 200 | NA | 27,100 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 23,000 | 22,900 | 23,100 | – 200 | NA | 22,100 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 22,000 | 21,900 | 22,100 | 0 | NA | 23,200 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 22,700 | 22,600 | 22,800 | – 100 | 23,100 | 24,300 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 21,800 | 21,700 | 21,900 | – 200 | 22,000 | 23,800 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 21,500 | 21,400 | 21,600 | – 200 | NA | 20,800 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 21,100 | 21,000 | 21,200 | – 100 | 21,600 | 22,700 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 21,100 | 21,000 | 21,200 | – 200 | 21,200 | 23,000 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 21,800 | 21,700 | 21,900 | – 200 | 21,900 | 23,800 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 35,900 | 35,800 | 36,000 | – 50 | 36,400 | 36,400 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 33,900 | 33,800 | 34,000 | – 100 | NA | 33,500 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 32,500 | 32,400 | 32,600 | – 200 | NA | 33,100 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 32,900 | 32,800 | 33,000 | + 100 | 33,300 | 33,100 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 33,100 | 33,000 | 33,200 | – 300 | NA | 35,300 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 34,900 | 34,900 | 35,000 | 0 | NA | 37,100 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 33,700 | 33,600 | 33,800 | – 500 | 35,000 | 35,700 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 36,700 | 36,600 | 36,800 | – 50 | 37,200 | 37,200 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 34,300 | 34,200 | 34,400 | – 100 | NA | 34,200 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 33,100 | 33,000 | 33,200 | – 200 | NA | 33,600 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 33,800 | 33,700 | 33,900 | 0 | 34,300 | 34,000 | |
| Ex-Ahmedabad | 125×125 mm, IS 2831 | 34,000 | 33,900 | 34,100 | – 200 | 35,200 | 35,300 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 33,300 | 33,300 | 33,500 | – 300 | NA | 35,600 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 35,400 | 35,400 | 35,500 | 0 | NA | 37,600 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 34,000 | 33,900 | 34,100 | – 500 | 35,300 | 36,000 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 39,200 | 39,200 | 39,400 | – 700 | 39,400 | 39,500 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 39,000 | 38,800 | 39,200 | – 300 | NA | 39,100 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 36,800 | 36,800 | 37,000 | – 200 | 37,600 | 38,100 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 37,000 | 36,800 | 37,400 | – 200 | NA | 39,900 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 40,300 | 40,100 | 40,500 | – 200 | 40,800 | 42,300 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 38,000 | 37,800 | 38,200 | – 500 | 39,000 | 39,500 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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