Indian Iron & Steel trades remain supported as prices increase further by INR 100-500/MT in Billet & INR 100-300/MT in Rebar, day-on day, in major markets.
Sponge iron prices being surge by INR 100-300/MT in Southern India, while in remaining markets it fluctuates by INR 100/MT on day trade activities.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 31,000-35,200/MT (USD 439-499) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 20,800-21,900/MT (USD 295-311); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 6th December 2018 (Thursday) INR to USD exchange rate stood at INR 70.90.
— ICEX (Indian Commodity Exchange Ltd) Jan’19 contract for STEELLONG today open at INR 34,880/MT & last traded (IST 18:15) at INR 34,860/MT.
— BSE Sensex closed at 35,312(-572) on Thursday, as against last day (Wednesday) at 35,884(-249).
— NSE Nifty50 index was closed today at 10,601(-181).
Raw Materials
— Indian Pellet exports hit 1.04 MnT in November. BRPL pellet exports hit all time high to 0.34 MnT.
— West India based pellet maker – Jindal SAW has lowered pellet offers INR 900/MT in last two weeks to INR 8,300/MT, delivered Kandla for Fe 63% grade against the last assessment at INR 9,200/MT.
— Imported scrap offers to India for HMS (80:20) Europe origin containers stood at around USD 325/MT, CFR Nhava Sheva.
— India’s Bulk scrap imports increased to 126,440 MT in November on active bookings made by West India based mills in September.
Semi Finished
— MMTC had floated export tender of 30,000 MT non-alloy Pig Iron on behalf of Neelachal Ispat Nigam Limited (NINL). The due date for submission of bids was 14:30 hrs on 17 Dec’18.
— Durgapur, Eastern India based medium mills export offers to Nepal hovering at USD 445-450/MT for Billet(100*100 mm), ex-mill. The offers increased by USD 3-5/MT (W-o-W) on surge in Indian domestic prices and strong rupee against US dollar.
— Raipur, Central India based Integrated plants offering Sponge P-DRI at INR 20,500-20,600/MT & Sponge DR CLO grade at INR 23,000-23,100/MT ex-plant
— Odisha based medium size sponge manufacturers offered FeM 80 C-DRI (70:30 mix material) at INR 20,800-20,900/MT ex-plant & excluding GST.
— BMM Ispat in South India (Karnataka) has increased offers for FeM 80 P-DRI by INR 200/MT to INR 20,200-20,300/MT ex-Bellary, an official reported.
— BIOP Steels in South India has increased sponge prices by INR 100/MT, offering FeM 80 & 82 C-DRI lumps at INR 20,800/MT & INR 21,200/MT ex-plant, Karnataka; an official reported.
— Apple Industries in Bellary (Karnataka) offered Sponge FeM 83+ P-DRI lump at INR 21,400/MT & Billet at INR 33,400/MT ex-plant.
— South India (Telangana) based Cauvery Iron & Steel offers FeM 80 P-DRI & Billet at INR 20,800/MT & INR 33,000/MT. Also offering 12 mm Rebar at INR 37,500/MT. All prices are ex-plant & excluding GST.
Finished Long
— State owned Steel Authority of India Limited (SAIL) has announced to roll-over in long steel products prices for December as of now, as per officials.
— Raipur based wire rod manufacturers increases offers by INR 200/MT and trade discount through the manufacturers/suppliers remain unchanged at around INR 900-1,000/MT. The offers for 5.5mm Wire rod is hovering around INR 38,800/MT ex-Raipur & INR 38,000-38,300/MT ex-Durgapur.
— Hyderabad (South India) based Hari Om Pipe Industries Ltd has offered ERW Pipe at around INR 40,100-40,200/MT ex-plant. (basic & excluding GST).
Rebar (12 mm)
— Rathi Steels based in North region offering at INR 39,350/MT, up by INR 250/MT.
— Raipur based – SPEED TMT offering at INR 35,600/MT, up by INR 200/MT.
— Gujarat based Shreeyam Power & Steel Industries Ltd (National TMT) unchanged their offering at INR 38,200/MT FoR.
— Jalna based SRJ Peety Steels Pvt Ltd (Shree Om) TMT unchanged their offering at INR 37,300/MT.
— South region based Prakash Ferrous Ind. Pvt. Ltd (Tirumala) unchanged their offering at INR 40,000/MT.
— Chennai based ARS Steel (Trusteel) unchanged their offering at INR 41,000/MT.
Note – the prices mentioned above based on ex-work and excluding GST and changes are placed on day basis.
Reference prices as on 6th December 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 26,800 | 26,700 | 26,900 | – 100 | 26,400 | 27,100 |
| Ex-Mumbai | HMS(80:20) | 26,200 | 26,100 | 26,300 | + 200 | 25,700 | 25,700 | |
| Ex-Chennai | HMS(80:20) | 24,900 | 24,800 | 25,000 | 0 | 25,800 | NA | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 21,600 | 21,500 | 21,700 | 0 | 21,500 | 23,400 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 20,800 | 20,700 | 20,900 | + 100 | 20,800 | 22,200 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 21,900 | 21,800 | 22,100 | – 100 | 21,600 | 22,900 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 20,800 | 20,700 | 20,800 | + 100 | 20,400 | 21,600 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 20,600 | 20,500 | 20,700 | 0 | 20,500 | 22,300 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 20,500 | 20,400 | 20,600 | + 50 | 20,100 | 21,100 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 20,200 | 20,100 | 20,300 | + 100 | 19,800 | 20,800 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 20,800 | 20,700 | 20,900 | + 300 | 20,300 | 21,700 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 34,900 | 34,900 | 35,000 | + 100 | 34,300 | 36,300 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 31,500 | 31,400 | 31,600 | – 100 | 31,300 | 33,800 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 30,700 | 30,600 | 30,800 | + 100 | 30,350 | 32,800 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 31,250 | 31,200 | 31,300 | + 150 | 30,900 | 33,100 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 33,400 | 33,300 | 33,500 | + 100 | 32,800 | 33,800 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 35,200 | 35,100 | 35,300 | 0 | 34,800 | 37,100 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 31,900 | 31,800 | 32,000 | – 100 | 31,600 | 34,000 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 31,000 | 30,900 | 31,000 | + 200 | 30,800 | 33,200 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 31,900 | 31,800 | 32,000 | + 200 | 31,200 | 33,700 | |
| Ex-Ahmedabad | 125×125 mm, IS 2831 | 33,900 | 33,800 | 34,000 | + 100 | 33,000 | 34,600 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 33,600 | 33,500 | 33,600 | + 100 | 33,000 | 34,100 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 33,500 | 33,400 | 33,600 | 0 | 34,000 | 35,000 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 33,000 | 32,500 | 33,000 | + 500 | 33,000 | 34,500 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 37,800 | 37,700 | 38,000 | + 200 | 36,900 | 39,100 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 37,100 | 36,900 | 37,300 | 0 | 36,800 | 39,500 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 35,500 | 35,400 | 35,600 | + 300 | 34,900 | 36,400 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 36,600 | 36,400 | 36,800 | 0 | 36,400 | 37,600 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 37,700 | 37,500 | 38,000 | – 200 | 38,500 | NA | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 37,500 | 37,300 | 37,700 | + 300 | 37,000 | 38,500 | |
| Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 38,200 | 37,900 | 38,400 | + 100 | 37,700 | 39,900 |
| Ex-Raipur | Wire Rod(5.5 MM) | 38,800 | 38,000 | 38,800 | + 200 | 38,300 | 40,200 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
Leave a Reply