Indian spot steel trades observed dull amid limited inquiries with the producers. However, despite fewer trades the prices of Billet have marginally fluctuates by INR 100-300/MT D-o-D, while Sponge iron offers fall slightly.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 32,400-36,500/MT (USD 452-510) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 21,400-22,900/MT (USD 298-320); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 19th November 2018 (Monday) INR to USD exchange rate stood at INR 71.64
— BSE Sensex closed at 35,774(+317) on Monday, as against last day (Friday) at 35,457(+196).
— NSE Nifty50 index was closed today at 10,763(+81).
Raw Materials
— Bhushan Steel’s iron ore sourcing from Rungta mines recorded at 0.12 MnT in Oct’18, up 87% on monthly basis as against 0.06 MnT in Sep’18.
— Imported scrap offers to India for HMS 1&2 (80:20) Dubai origin containers stood at around USD 330/MT, CFR Nhava Sheva, Offers decline by USD 5/MT W-o-W
— According to the latest assessment of Coking coal, spot prices of the Premium HCC are reported at around USD 223/MT FoB Australia & USD 236/MT CNF India.
Semi Finished
— RSP (Rourkela Steel Plant) tender held today ( 19th Nov’18) to sell about 6,000 MT steel grade pig iron have received good response. The base price of the tender was at INR 28,700/MT and the total quantity have been sold out at INR 28,850-28,900//MT (Ex-plant).
— Neo Metaliks in Durgapur has maintained Pig iron prices despite no major trades and reported Steel grade at INR 29,500/MT ex-plant.
— Atibir Industries in Jharkhand has concluded few bulk deals of Steel grade Pig iron at INR 29,000/MT ex-plant -Sources.
— Raipur, Central India based Integrated plants offering Sponge P-DRI at INR 20,700-20,900/MT & Sponge DR CLO grade at INR 23,000-23,100/MT ex-plant
— As per sources, Rashmi Metaliks in Durgapur has maintained offers & prices for Sponge P-DRI reported at around INR 22,000/MT.
— Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 21,800/MT & Billet at INR 32,800/MT ex-plant. As per officials, trade activities are weak at the offer prices.
— Hare Krishna, a 300 TPD sponge manufacturer in Bellary, Karnataka has offered FeM 80 P-DRI at INR 20,500/MT ex-plant, an official reported.
— Apple Industries in Bellary (Karnataka) offered Sponge FeM 83+ P-DRI lump at INR 22,000/MT & Billet at INR 33,500/MT ex-plant.
Wire rod & Pipe
— Raipur based wire rod suppliers kept trade discount unaltered and today’s discount at around INR 900-1,100/MT.
— Mandi Gobindgarh, North India based ERW pipe manufacturers decreased prices by INR 300/MT & offers reported at around INR 42,800/MT ex-plant & excluding GST.
— Hyderabad (South India) based Pipe manufacturer Mahalakshmi Profiles Pvt. Ltd (MPL) has kept offers unaltered for ERW Pipe at INR 42,000/MT ex-plant. (basic & excluding GST).
Rebar (12 mm)
— Raipur based – SPEED TMT unchanged their offering at INR 36,200/MT.
— Gujarat based Shreeyam Power & Steel Industries Ltd (National TMT) unchanged their offering at INR 37,700/MT FoR.
— Jalna based SRJ Peety Steels Pvt Ltd (Shree Om) TMT offering at INR 37,100/MT; down by INR 200/MT.
— Chennai based ARS Steel (Trusteel) offering at INR 41,800/MT; down by INR 300/MT.
— South region based Prakash Ferrous Ind. Pvt. Ltd (Tirumala) unchanged their offering at INR 41,000/MT.
— East region based – Baba Smelter Pvt. Ltd offering Structure (125,150 Channel) at INR 39,750/MT, down by INR 250/MT.
Note – Rebar (12 mm) prices mentioned above based on ex-work and excluding GST and changes are placed on day basis.
Reference prices as on 19th November 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 27,200 | 27,100 | 27,300 | + 100 | 27,700 | 27,400 |
| Ex-Mumbai | HMS(80:20) | 26,500 | 26,400 | 26,600 | + 200 | 25,700 | 25,500 | |
| Ex-Chennai | HMS(80:20) | 26,800 | 26,600 | 27,000 | 0 | 26,800 | 26,000 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 22,900 | 22,800 | 23,000 | 0 | 23,600 | 23,600 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 21,700 | 21,700 | 21,800 | 0 | 22,200 | 22,600 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 22,300 | 22,200 | 22,400 | – 100 | 22,900 | 23,500 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 21,400 | 21,300 | 21,500 | 0 | 21,800 | 22,200 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 21,900 | 21,800 | 22,000 | 0 | 22,400 | 22,100 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 20,800 | 20,700 | 20,900 | 0 | 21,150 | 21,900 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 20,500 | 20,400 | 20,600 | – 100 | 21,100 | 21,200 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 21,200 | 21,100 | 21,300 | – 100 | 21,800 | 22,000 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 35,700 | 35,600 | 35,800 | + 100 | 36,000 | 37,100 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 33,000 | 32,900 | 33,100 | 0 | 33,600 | 34,500 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 32,000 | 32,000 | 32,100 | – 100 | 32,500 | 33,500 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 32,400 | 32,300 | 32,500 | – 50 | 33,000 | 34,000 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 33,600 | 33,500 | 33,600 | 0 | 34,300 | 33,800 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 36,500 | 36,400 | 36,600 | + 100 | 36,800 | 37,900 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 33,400 | 33,300 | 33,500 | 0 | 33,900 | 35,000 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 32,500 | 32,400 | 32,600 | – 100 | 33,100 | 34,000 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 32,950 | 32,900 | 33,000 | – 100 | 33,600 | 34,900 | |
| Ex-Ahmedabad | 125×125 mm, IS 2831 | 34,600 | 34,500 | 34,700 | + 200 | 34,900 | 35,000 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 33,900 | 33,800 | 33,900 | 0 | 34,600 | 34,000 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 34,700 | 34,600 | 34,800 | – 300 | 35,300 | 35,800 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 34,000 | 33,900 | 34,100 | 0 | 35,000 | 34,700 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 38,300 | 38,200 | 38,500 | – 200 | 39,400 | 40,200 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 38,800 | 38,600 | 39,000 | 0 | 39,300 | 39,700 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 36,100 | 36,000 | 36,200 | – 100 | 36,600 | 37,800 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 37,100 | 36,900 | 37,300 | – 200 | 37,900 | 37,800 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 39,300 | 39,100 | 39,500 | – 100 | 40,000 | 40,600 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 38,000 | 37,800 | 38,200 | 0 | 39,000 | 38,500 | |
| Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 39,400 | 39,200 | 39,600 | 0 | 40,000 | 40,700 |
| Ex-Raipur | Wire Rod(5.5 MM) | 39,600 | 38,900 | 39,600 | 0 | 40,400 | 41,000 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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