Indian steel prices marginally declined on day trade activities owing to holidays mood in the market following which inquiries was limited through the buyers.
As per assessment, the prices fall by INR 100-300/MT in Rebar, INR 100-400/MT in Billet & INR 100-200/MT in Sponge iron, day-on-day through the mid size mills in domestic market.
However in Mumbai, Maharashtra Billet prices gain sharply by INR 600/MT in a day due to tighten supply on plants closure in Silvassa.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 30,000-33,500/MT (USD 427-478) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 19,600-21,000/MT (USD 279-300); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 24th December 2018 (Monday) INR to USD exchange rate stood at INR 70.10.
— ICEX (Indian Commodity Exchange Ltd) Jan’19 contract for STEELLONG today open at INR 32,850/MT & last traded (IST 18:21) at INR 32,500/MT.
— BSE Sensex closed at 35,470(-271) on Monday, as against last day (Friday) at 35,742(-689).
— NSE Nifty50 index was closed today at 10,663(-90).
Raw Materials
— NMDC has kept base prices unchanged in today’s Karnataka e-auctions. Fines (Fe 63.2%) at around INR 2,819/MT (basic) Similarly, for Fe 64% lump prices have also unchanged to around INR 3,451/MT (basic) against last assessment All prices mentioned are basic. Royalty and other taxes extra.
— As per customs data, India imported 442,304 MT ferrous scrap in Oct’18, up by 9% as against 406,506 MT recorded in Sept’18.
Semi Finished
— Raipur, Central India based Integrated plants offering Sponge P-DRI at INR 19,400-19,600/MT & Sponge DR CLO grade at INR 22,000-22,200/MT ex-plant
— Raipur based furnaces are sourcing Sponge iron from Odisha at around INR 20,800/MT FoR Raipur.
— Raigarh based Singhal Steel offered P-DRI at INR 18,700/MT ex-Raigarh, an official reported. Also, the company offered Billets at INR 30,800/MT FoR Raipur. As per officials, trade activities are weak at the offer prices.
— Rashmi Metaliks in Durgapur has slightly reduced sponge prices & reported P-DRI at around INR 18,600/MT- Sources.
— Aloke Steel Industries (Jharkhand) offered Fem 78-80 C-DRI lumps at INR 20,700/MT & Sponge mix material (60:40) at INR 20,400/MT ex-plant
— BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 19,700-19,800/MT ex-Bellary.
— BIOP Steels in South India has kept offers unaltered; offering FeM 80 & 82 C-DRI lumps at INR 20,200/MT & 20,600/MT ex-plant, Karnataka; an official reported.
Wire Rod & Pipe
— Raipur based wire rod manufacturers kept offers unchanged and trade discount through the manufacturers/suppliers is almost unchanged at around INR 700-1,000/MT. The offers for 5.5 mm wire rod is hovering around INR 37,800/MT ex-Raipur & INR 36,500-36,700/MT ex-Durgapur.
— Rashmi Metaliks kept offers unchanged and reported at INR 36,500/MT ( 5.5 mm), ex-Kharagpur, east India.
— Hyderabad (South India) based manufacturer Mahalakshmi Profiles Pvt. Ltd (MPL) has offered ERW Pipe at INR 39,900/MT ex-plant. (basic & excluding GST).
Rebar (12 mm)
— Rathi Steels based in North region unchanged their offering at around INR 38,000/MT.
— Raipur based – SPEED TMT unchanged their offering at INR 34,900/MT.
— Raipur based – GK TMT kept offers unchanged at INR 37,400/MT (10-25 mm).
— Gujarat based Shreeyam Power & Steel Industries Ltd. (National TMT) offering at INR 38,200/MT FoR.
— Jalna based Kalika Steel Alloys Pvt Ltd unchanged their offering at INR 36,900/MT.
— Chennai based ARS Steel (ARS 500 D) unchanged their offering at INR 41,000/MT.
— East region based – Baba Smelter Pvt. Ltd unchanged their offering Structure at INR 38,250/MT (150 Channel).
Note – The prices mentioned above are ex-work, excluding GST & changes are on day basis.
Reference prices as on 24th December 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 26,000 | 25,900 | 26,100 | 0 | 26,750 | 26,800 |
| Ex-Mumbai | HMS(80:20) | 25,200 | 25,100 | 25,400 | 0 | 25,700 | 25,800 | |
| Ex-Chennai | HMS(80:20) | 24,000 | 23,900 | 24,200 | 0 | 24,700 | 26,000 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 19,700 | 19,600 | 19,800 | – 200 | 20,800 | 22,000 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 19,800 | 19,700 | 19,900 | – 100 | 20,500 | 21,300 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 21,000 | 20,900 | 21,100 | – 200 | 21,700 | 22,000 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 20,000 | 19,900 | 20,100 | 0 | 20,400 | 20,700 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 18,500 | 18,400 | 18,600 | – 100 | 19,600 | 21,000 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 19,500 | 19,400 | 19,600 | – 50 | 20,200 | 20,400 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,600 | 19,500 | 19,700 | 0 | 19,900 | 20,200 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 20,400 | 20,300 | 20,500 | 0 | 20,900 | 20,700 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 32,850 | 32,800 | 32,900 | – 350 | 34,450 | 34,200 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 29,800 | 29,700 | 29,900 | – 300 | 31,200 | 31,500 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 29,600 | 29,500 | 29,600 | – 100 | 30,350 | 30,900 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 30,350 | 30,300 | 30,400 | – 100 | 31,200 | 31,100 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 33,200 | 33,100 | 33,300 | + 600 | 33,800 | 33,200 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 33,000 | 32,900 | 33,100 | – 300 | 34,700 | 34,700 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 30,300 | 30,200 | 30,400 | – 300 | 31,700 | 31,900 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 30,000 | 29,900 | 30,100 | – 100 | 30,600 | 31,300 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 30,750 | 30,700 | 30,800 | – 250 | 32,000 | 31,500 | |
| Ex-Ahmedabad | 125×125 mm, IS 2831 | 33,000 | 32,900 | 33,100 | 0 | 33,800 | 33,900 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 33,400 | 33,300 | 33,500 | + 600 | 34,100 | 33,400 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 33,500 | 33,400 | 33,600 | + 100 | 33,600 | 34,100 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 32,300 | 32,000 | 32,500 | 0 | 33,000 | 33,500 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 36,800 | 36,600 | 37,000 | 0 | 37,500 | 37,600 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 35,200 | 35,000 | 35,400 | 0 | 36,500 | 37,300 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 34,700 | 34,600 | 34,900 | – 200 | 35,700 | 35,100 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 36,500 | 36,300 | 36,700 | + 200 | 37,000 | 36,900 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 37,800 | 37,600 | 38,000 | + 100 | 37,700 | 38,700 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 36,700 | 36,500 | 36,900 | – 200 | 37,500 | 37,500 | |
| Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 36,700 | 36,500 | 36,800 | 0 | 37,600 | 37,900 |
| Ex-Raipur | Wire Rod(5.5 MM) | 37,800 | 36,800 | 37,800 | 0 | 38,500 | 38,600 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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