Indian steel prices increased on active buying from the domestic buyers today and prices surge reported was near about INR 100-500/MT through the mid size mills.
Domestic Rebar prices increased by INR 100-300/MT, Billet by INR 300-500/MT & Sponge iron by INR 200-300/MT.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 31,200-34,400/MT (USD 437-482) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 19,300-20,600/MT (USD 271-289); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 1st February 2019 (Friday) INR to USD exchange rate stood at INR 71.31.
— ICEX (Indian Commodity Exchange Ltd) Feb’19 contract for STEELLONG today open at INR 33,610/MT & last traded (IST 18:37) at INR 33,790/MT.
— BSE Sensex closed at 36,469(+212) on Friday, as against last day (Thursday) at 36,256(+665).
— NSE Nifty50 index was closed today at 10,893(+62).
Raw Materials
— SteelMint’s assessment for containerized Shredded from the USA and UK stand at around USD 335/MT, CFR Nhava Sheva.
— Melting scrap offers in Western India- Gujarat incline by INR 300/MT in a day trade activities.
Semi Finished
— Rashtriya Ispat Nigam Limited (RINL) has invited tender for export of 2,709 MT Wire rods and 8,127 MT Billets to Nepal. Interested bidders can submit their bids till 05 Feb’19 at 15:00 hrs
— Rashtriya Ispat Nigam Limited has concluded the tender of 2 lots for 15,000 MT bloom (IS 2830 GR A and IS 2830 C20MMn GR A) each at around USD 415/MT, FoB India.-Sources
— Indian induction grade billet (100*100mm size) export offers to Nepal are reported at USD 443-447/MT (ex-mill at West Bengal), equivalent to USD 468-472/MT CFR Nepal (Raxaul border).
— In West Bengal – Durgapur, big manufacturers have increased sponge prices by INR 100-200/MT D-o-D; offering P-DRI at INR 19,300-19,400/MT.
— Raipur, Central India based Integrated plants offering Sponge P-DRI at INR 19,200-19,300/MT & Sponge DR CLO grade at INR 21,300-21,500/MT ex-plant.
— Raipur based steel manufacturers getting Fem 80 sponge iron offers from Odisha at INR 20,300/MT FoR Raipur.
— Central India, Chhattisgarh (Bhilai) based billet manufacturer selling material to Jalna (Maharashtra) at INR 32,200-32,400/MT FoR Jalna.
— Rourkela based billet supplier reported, an exporter purchased 2,500 MT billet at INR 31,300/MT ex- plant. And added material sourced to Paradip port for Vietnam Shipment.
— BIOP Steels in South India has kept offers unaltered; offering FeM 80 & 82 C-DRI lumps at INR 19,200/MT & 19,500/MT ex-plant, Karnataka; an official reported.
— BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 18,700/MT ex-Bellary, an official reported.
Finished long
— Raipur based wire rod manufacturers increased offers by INR 300/MT and trade discount through manufacturers/suppliers is around INR 700-1,000/MT. The offers for 5.5mm wire rod is hovering around INR 37,800/MT ex-Raipur & INR 36,500-36,800/MT ex-Durgapur.
— As per sources, India’s Vizag Steel (RINL) has rollover steel prices for Feb’18, Others large mills to be declared soon.
— Raipur, Central India based ERW pipe manufacturers increased prices by INR 200/MT & offers reported at around INR 37,200/MT ex-plant & excluding GST.
— Hyderabad (South India) based manufacturer Mahalakshmi Profiles Pvt. Ltd (MPL) has offered ERW Pipe at INR 38,900/MT ex-plant. (basic & excluding GST).
Rebar (12mm)
— Rathi Steels based in North region unchanged their offering at INR 37,950/MT.
— Raipur based – SPEED TMT unchanged their offering at INR 35,000/MT.
— Raigarh based Anjani Steels Ltd. (Radhe TMT) unchanged their offering at INR 34,700/MT.
— Gujarat based Shreeyam Power & Steel Industries Ltd. (National TMT) offering at INR 38,200/MT FoR (Up by INR 200/MT).
— Jalna based SRJ Peety Steels Pvt Ltd (Shree Om) TMT offering at INR 36,800/MT (Up by INR 200/MT).
— Jalna based Kalika Steel Alloys Pvt Ltd unchanged their offering at INR 36,800/MT (Up by INR 200/MT).
— Mumbai based Vistar Metal Ind. Pvt. Ltd. (Vistar TMT) unchanged their offering at INR 36,900/MT.
Note – Prices mentioned above are ex-work, excluding GST & changes are placed on day basis.
Reference prices as on 1st February 2019
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 25,900 | 25,800 | 26,000 | + 300 | 25,800 | 25,600 |
| Ex-Mumbai | HMS(80:20) | 25,100 | 25,000 | 25,200 | 0 | 25,100 | 25,200 | |
| Ex-Chennai | HMS(80:20) | 24,500 | 24,400 | 24,700 | + 100 | 24,300 | 24,300 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 20,600 | 20,500 | 20,700 | + 300 | 20,600 | 20,500 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 19,500 | 19,400 | 19,600 | + 300 | 19,400 | 19,800 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 20,300 | 20,200 | 20,400 | + 200 | 20,500 | 20,500 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,300 | 19,200 | 19,400 | 0 | 19,300 | 19,700 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 19,300 | 19,200 | 19,400 | + 100 | 19,500 | 19,300 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 19,200 | 19,100 | 19,300 | + 400 | 19,000 | 19,000 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 18,800 | 18,700 | 18,900 | + 100 | 18,800 | 19,300 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 19,300 | 19,200 | 19,400 | 0 | 19,500 | 20,100 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 34,000 | 33,900 | 34,100 | + 400 | 34,050 | 33,350 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 31,300 | 31,200 | 31,400 | + 300 | 31,400 | 30,700 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 30,600 | 30,500 | 30,700 | + 400 | 30,500 | 29,900 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 31,000 | 30,900 | 31,100 | + 400 | 31,100 | 30,350 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 33,300 | 33,200 | 33,400 | 0 | 33,300 | 32,950 | |
| Billet | Ex-Mandi Gobindgarh | 100×100 mm, IS 2831 | 34,400 | 34,300 | 34,500 | + 400 | 34,450 | 33,700 |
| Ex-Durgapur | 100×100 mm, IS 2831 | 31,800 | 31,700 | 31,900 | + 300 | 31,800 | 31,100 | |
| Ex-Rourkela | 100×100 mm, IS 2831 | 31,200 | 31,100 | 31,300 | + 400 | 31,200 | 30,500 | |
| Ex-Raipur | 100×100 mm, IS 2831 | 32,000 | 31,900 | 32,100 | + 400 | 32,000 | 31,100 | |
| Ex-Ahmedabad | 100×100 mm, IS 2831 | 33,300 | 33,200 | 33,400 | + 400 | 33,200 | 32,800 | |
| Ex-Mumbai | 100×100 mm, IS 2831 | 33,500 | 33,400 | 33,600 | 0 | 33,500 | 33,150 | |
| Ex-Chennai | 100×100 mm, IS 2831 | 32,500 | 32,400 | 32,600 | 0 | 32,500 | 33,300 | |
| Ex-Hyderabad | 100×100 mm, IS 2831 | 32,500 | 32,400 | 32,600 | + 500 | 32,500 | 32,500 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 36,800 | 36,600 | 37,000 | 0 | 37,500 | 37,300 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 36,300 | 36,100 | 36,500 | + 300 | 36,300 | 36,100 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 34,800 | 34,700 | 34,900 | + 200 | 35,000 | 35,000 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 36,800 | 36,500 | 37,000 | 0 | 36,600 | 36,500 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 36,800 | 36,700 | 37,000 | 0 | 36,600 | 37,400 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 36,200 | 36,000 | 36,400 | + 200 | 36,700 | 37,000 | |
| Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 36,600 | 36,400 | 36,800 | + 200 | 37,100 | 37,500 |
| Ex-Raipur | Wire Rod(5.5 MM) | 37,800 | 36,900 | 37,800 | + 300 | 38,100 | 38,200 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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