The price rise trend continued in Indian steel market through the mid size mills on improved trade activities in domestic market. As per assessment, the prices surge by INR 100-700/MT, day-on-day.
The Rebar prices increase by INR 200-700/MT (USD 3-10), Billet by INR 200-600/MT & Sponge iron by INR 100-300/MT.
As per sources, trade volume healthier on rising prices, this may further support prices in near term.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 30,600-34,200/MT (USD 437-489) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 20,000-21,000/MT (USD 285-300); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 28th December 2018 (Friday) INR to USD exchange rate stood at INR 69.98.
— ICEX (Indian Commodity Exchange Ltd) Jan’19 contract for STEELLONG today open at INR 33,030/MT & last traded (IST 18:22) at INR 33,370/MT.
— BSE Sensex closed at 36,076(+269) on Friday, as against last day (Thursday) at 35,807(+157).
— NSE Nifty50 index was closed today at 10,859(+80).
Raw Materials
— Odisha’s major merchant miner – Essel Mining and Industries have reduced iron ore prices by INR 350/MT (USD 5) in lump and fines by INR 200-300/MT (USD 3-4). Current price for 5-18mm Fe 65% is around INR 5,475/MT FoR, including Royalty, DMF & NMET.
— JSPL concludes two pellet export deals to China at around USD 112/MT, CFR for January shipments. This is equivalent to INR 5,500-5,700/MT (Ex-Barbil)
— BRPL’s pellet export deal to South Korea concluded at USD 112/MT,CFR.
— Imported scrap offers to India for HMS (80:20) Europe origin (containers) stood at around USD 320/MT, CFR Nhava Sheva, Offers decline by USD 2-3/MT W-o-W.
Semi Finished
— Rashtriya Ispat Nigam Limited (RINL), has invited tender for export of 10,000 MT Billets and 40,000 MT Blooms. Bid due date is till 04 Jan’19 at 11:00 hrs.
— NINL extended domestic Pig iron price circular due date to 31st Dec’18 as against earlier on 27th Dec’18. The company’s offer for Steel (N1) grade hovering at INR 27,500-27,900/MT, N2 grade at INR 28,500/MT & Foundry (High silicon) grade at INR 29,000/MT; ex-Cuttack, East India.
— Aloke Steel Industries (Jharkhand) offered Fem 78-80 C-DRI lumps at INR 20,500/MT & Sponge mix material (60:40) at INR 20,200/MT ex-plant.
— Raipur, Central India based Integrated plants offers increased by INR 100-200/MT, offering Sponge P-DRI at INR 19,600-19,700/MT & Sponge DR CLO grade at INR 22,300-22,400/MT ex-plant.
— Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 19,700/MT & Billet at INR 30,500/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 20,300/MT ex-Bellary, Karnataka.
— BIOP Steels in South India has offered FeM 80 & 82 C-DRI lumps at INR 20,100/MT & INR 20,500/MT ex-plant, Karnataka; an official reported.
— South India based Amoda iron & steel ltd is offering FeM 75 & 80 C-DRI lump at INR 19,500/MT & INR 20,600/MT ex-plant (Hyderabad).
Finished Long
— Raipur based wire rod manufacturers offers increased by INR 300/MT and trade discount through the manufacturers/suppliers is around INR 500-600/MT. The offers for 5.5 mm wire rod is hovering around INR 38,200/MT ex-Raipur & INR 37,500-37,800/MT ex-Durgapur.
— Rashmi Metaliks Wire rod offers increased and reported at INR 36,500/MT (5.5 mm), ex-Kharagpur, east India.
— Hyderabad (South India) based Pipe manufacturer Mahalakshmi Profiles Pvt. Ltd (MPL) has offered ERW Pipe at INR 40,000/MT ex-plant. (basic & excluding GST).
— Jharkhand based a producer offering blast furnace grade Wire rod – low carbon at INR 43,000/MT & High carbon at INR 45,000/MT ex-plant.
Reference prices as on 28th December 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 26,600 | 26,500 | 26,700 | + 100 | 26,200 | 26,800 |
| Ex-Mumbai | HMS(80:20) | 25,500 | 25,300 | 25,700 | + 100 | 25,200 | 25,800 | |
| Ex-Chennai | HMS(80:20) | 24,100 | 24,000 | 24,200 | 0 | 24,000 | 25,900 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 20,600 | 20,500 | 20,700 | + 300 | 20,000 | 21,700 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 20,000 | 19,900 | 20,100 | + 200 | 19,900 | 20,800 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 21,000 | 20,900 | 21,100 | + 100 | 21,200 | 21,900 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 20,000 | 19,900 | 20,100 | 0 | 20,000 | 20,500 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 19,400 | 19,300 | 19,500 | + 300 | 18,700 | 20,700 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 19,600 | 19,500 | 19,700 | + 100 | 19,550 | 20,300 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,600 | 19,500 | 19,700 | 0 | 19,600 | 19,900 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 20,300 | 20,200 | 20,400 | + 100 | 20,400 | 20,400 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 34,000 | 33,900 | 34,100 | + 250 | 33,000 | 34,200 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 31,300 | 31,200 | 31,400 | + 650 | 30,000 | 31,400 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 30,300 | 30,200 | 30,300 | + 300 | 29,700 | 30,500 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 30,750 | 30,700 | 30,800 | + 300 | 30,300 | 30,900 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 33,300 | 33,200 | 33,400 | – 100 | 32,900 | 33,100 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 34,200 | 34,100 | 34,300 | + 250 | 33,100 | 34,700 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 31,700 | 31,600 | 31,800 | + 550 | 30,500 | 31,700 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 30,600 | 30,500 | 30,700 | + 300 | 30,200 | 30,900 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 31,600 | 31,500 | 31,700 | + 250 | 30,800 | 31,300 | |
| Ex-Ahmedabad | 125×125 mm, IS 2831 | 33,800 | 33,700 | 33,900 | + 200 | 33,150 | 33,500 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 33,500 | 33,400 | 33,600 | – 100 | 33,100 | 33,300 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 33,500 | 33,400 | 33,500 | 0 | 33,400 | 34,000 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 33,000 | 32,900 | 33,100 | 0 | 32,300 | 33,000 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 37,300 | 37,100 | 37,500 | + 300 | 37,000 | 37,300 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 36,300 | 36,100 | 36,500 | + 700 | 35,500 | 37,100 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 35,200 | 35,200 | 35,400 | + 200 | 35,000 | 35,100 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 36,700 | 36,500 | 36,900 | 0 | 36,500 | 36,400 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 37,600 | 37,500 | 37,900 | – 100 | 37,500 | 38,500 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 37,500 | 37,300 | 37,700 | 0 | 36,500 | 37,000 | |
| Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 37,600 | 37,500 | 37,700 | + 400 | 36,700 | 38,200 |
| Ex-Raipur | Wire Rod(5.5 MM) | 38,200 | 37,500 | 38,200 | + 300 | 38,400 | 38,500 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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