Indian Steel prices fall further on limited inquiries following poor off take in finished steel products. The prices of Semis (Billet) & Finished long steel products fall by INR 100-500/MT through the mid size mills, day-on-day.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 31,000-33,900/MT (USD 436-477) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 19,100-20,500/MT (USD 269-288); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 30th January 2019 (Wednesday) INR to USD exchange rate stood at INR 71.18.
— ICEX (Indian Commodity Exchange Ltd) Feb’19 contract for STEELLONG today open at INR 32,960/MT & last traded (IST 18:32) at INR 32,930/MT.
— BSE Sensex closed at 35,591(-1) on Wednesday, as against last day (Tuesday) at 35,592(-64).
— NSE Nifty50 index was closed today at 10,651(-1).
Raw Materials
— Odisha based pellet maker has concluded Two export deals of 50,000 MT each for Fe 64% grade pellets and 3% Alumina at USD 111-112/MT, CFR China – Sources.
— South African RB2 (5500 NAR) coal offers are assessed at USD 65/MT on FoB basis & USD 76/MT CNF India.
— Melting scrap offers in Western India- Gujarat decline by INR 300/MT in a day trade activities.
Semi Finished
— Indian sponge iron export offers to Bangladesh price assessment for lumps of grade FeM 78-80, recorded at USD 320-325/MT CPT Benapole (dry land port of Bangladesh & India) and USD 340/MT CFR Chittagong, Bangladesh.
— Raipur, Central India based Integrated plants offers decreased by INR 100/MT, offering Sponge P-DRI at INR 18,600-18,700/MT & Sponge DR CLO grade at INR 21,100-21,300/MT ex-plant.
— In West Bengal – Durgapur, big manufacturers have decreased sponge prices by INR 100-200/MT D-o-D; offering P-DRI at INR 19,200-19,300/MT.
— Jharkhand based sponge manufacturers offered Fem 78-80 C-DRI lumps at INR 20,100-20,200/MT & Sponge mix material (60:40) at INR 19,800-19,900/MT ex-plant.
— Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 19,400/MT & Billet at INR 30,900/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 18,600-18,700/MT ex-Bellary, Karnataka.
— BIOP Steels in South India has offered FeM 80 & 82 C-DRI lumps at INR 19,300/MT & INR 19,600/MT ex-plant, Karnataka; an official reported.
— South India (Telangana) based Cauvery Iron & Steel offers FeM 80 P-DRI & Billet at INR 19,200/MT & INR 32,000/MT. Also offering 12 mm Rebar at INR 36,000/MT. All prices are ex-plant & excluding GST
Wire Rod & Pipe
— Raipur based wire rod manufacturers reduced prices by INR 400/MT and trade discount through the manufacturers/suppliers is around INR 800-1,000/MT. The offers for 5.5 mm wire rod is hovering around INR 37,500/MT ex-Raipur & INR 36,400-36,600/MT ex-Durgapur
— Raipur, Central India based ERW pipe manufacturers decreased prices by INR 100-200/MT & offers reported at around INR 37,000-37,200/MT ex-plant & excluding GST.
Rebar (12mm)
— Rathi Steels based in North region offering at INR 37,950/MT (Down by INR 350/MT).
— Raipur based – SPEED TMT offering at INR 34,800/MT (Down by INR 350/MT).
— West region based Bhagwati Ferro Metal (P) Ltd offering at INR 37,300/MT
— Gujarat based Shreeyam Power & Steel Industries Ltd. (National TMT) unchanged their offering at INR 38,050/MT FoR.
— Gujarat based Akshar Ispat Ltd. (Akshat TMT) unchanged their offering at INR 38,050/MT FoR.
— Jalna based SRJ Peety Steels Pvt Ltd (Shree Om) TMT unchanged their offering at INR 36,600/MT.
— Jalna based Kalika Steel Alloys Pvt Ltd unchanged their offering at INR 36,800/MT.
— Chennai based Sakthi Ferro Alloys India Pvt. Ltd. (SSI TMT) unchanged their offering at INR 37,000/MT.
— Chennai based Ponneri Steel Ind. (Triple Power) unchanged their offering at INR 37,500/MT.
Note – Prices mentioned above are ex-work, excluding GST & changes are placed on day basis.
Reference prices as on 30th January 2019
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 25,500 | 25,400 | 25,600 | – 200 | 26,000 | 26,100 |
| Ex-Mumbai | HMS(80:20) | 25,100 | 25,000 | 25,200 | – 100 | 25,100 | 25,500 | |
| Ex-Chennai | HMS(80:20) | 24,400 | 24,300 | 24,600 | 0 | 24,300 | 24,200 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 20,500 | 20,400 | 20,600 | – 100 | 20,200 | 20,900 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 19,200 | 19,100 | 19,300 | – 100 | 19,300 | 20,000 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 20,200 | 20,100 | 20,300 | – 100 | 20,400 | 21,100 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,300 | 19,200 | 19,400 | 0 | 19,100 | 19,800 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 19,300 | 19,200 | 19,400 | – 100 | 19,200 | 19,700 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 18,700 | 18,600 | 18,800 | – 100 | 18,900 | 19,500 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 18,700 | 18,600 | 18,800 | 0 | 18,500 | 19,500 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 19,300 | 19,200 | 19,400 | 0 | 19,400 | 20,200 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 33,550 | 33,500 | 33,600 | – 50 | 34,150 | 33,800 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 31,000 | 30,900 | 31,100 | – 200 | 31,200 | 31,300 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 30,200 | 30,100 | 30,300 | – 100 | 30,500 | 30,300 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 30,700 | 30,700 | 30,800 | – 150 | 31,000 | 30,700 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 33,500 | 33,400 | 33,500 | – 200 | 33,100 | 32,600 | |
| Billet | Ex-Mandi Gobindgarh | 100×100 mm, IS 2831 | 33,900 | 33,800 | 34,000 | – 100 | 34,550 | 34,100 |
| Ex-Durgapur | 100×100 mm, IS 2831 | 31,500 | 31,400 | 31,600 | – 200 | 31,700 | 31,600 | |
| Ex-Rourkela | 100×100 mm, IS 2831 | 31,000 | 30,900 | 31,100 | – 100 | 30,900 | 30,700 | |
| Ex-Raipur | 100×100 mm, IS 2831 | 31,700 | 31,600 | 31,700 | – 100 | 32,000 | 31,600 | |
| Ex-Ahmedabad | 100×100 mm, IS 2831 | 32,800 | 32,700 | 32,900 | – 200 | 33,350 | 33,700 | |
| Ex-Mumbai | 100×100 mm, IS 2831 | 33,700 | 33,600 | 33,700 | – 200 | 33,300 | 32,800 | |
| Ex-Chennai | 100×100 mm, IS 2831 | 32,500 | 32,500 | 32,700 | – 400 | 32,500 | 33,300 | |
| Ex-Hyderabad | 100×100 mm, IS 2831 | 32,000 | 31,900 | 32,100 | – 300 | 32,500 | 33,000 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 36,900 | 36,700 | 37,000 | – 300 | 37,300 | 37,600 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 36,100 | 35,900 | 36,300 | – 400 | 35,800 | 36,500 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 34,700 | 34,600 | 34,800 | – 200 | 34,900 | 35,300 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 37,000 | 36,700 | 37,200 | 0 | 36,400 | 36,200 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 37,000 | 36,800 | 37,200 | 0 | 36,600 | 37,400 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 36,000 | 35,800 | 36,200 | – 500 | 36,700 | 37,500 | |
| Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 36,500 | 36,300 | 36,700 | – 200 | 36,800 | 38,100 |
| Ex-Raipur | Wire Rod(5.5 MM) | 37,500 | 36,600 | 37,500 | – 400 | 37,800 | 38,600 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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