Indian steel prices marginally fluctuated today by INR 100-400/MT post a constant rise since a week’s duration.
As per SteelMint assessment the prices of billet have fluctuated by INR 100-400/MT, while sponge offers rise by INR 200-300/MT D-o-D.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 32,200-35,300/MT (USD 450-493) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 20,100-21,500/MT (USD 281-301); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 7th February 2019 (Thursday) INR to USD exchange rate stood at INR 71.47.
— ICEX (Indian Commodity Exchange Ltd) Mar’19 contract for STEELLONG today open at INR 34,290/MT & last traded (IST 18:47) at INR 34,430/MT.
— BSE Sensex closed at 36,971(-4) on Thursday, as against last day (Wednesday) at 36,975(+358).
— NSE Nifty50 index was closed today at 11,069(+6).
Raw Materials
— Indian iron ore imports from South Africa dropped by 4% to 3.39 MnT in CY18 as against 3.52 MnT in CY17.
— Indian iron ore exports Fall 23% M-o-M in Jan’19, recorded at 0.64 MnT as against 0.83 MnT in Dec’18.
— Imported scrap offers to India for HMS (80:20) Europe origin containers stood at around USD 315/MT, CFR Nhava Sheva.
— South African RB2 (5500 NAR) coal offers are assessed at USD 63/MT on FoB basis & USD 77/MT CNF India.
Semi Finished
— India’s current export offers for Sponge iron lumps, bag packed (FeM 78-80) hovering at USD 320/MT CPT Benapole (dry port of India & Bangladesh) & USD 335-340/MT CFR Chittagong, Bangladesh for 80 FeM coal based sponge lumps.
— Rashmi Metaliks in Durgapur, known as price trend setter, has offered Sponge P-DRI at INR 20,200-20,300/MT – Sources.
— Aloke Steel Industries (Jharkhand) offered Fem 78-80 C-DRI lumps at INR 21,200/MT & Sponge mix material (60:40) at INR 20,800/MT ex-plant.
— Raigarh based Singhal Steel offered P-DRI at INR 19,700-19,800/MT ex-Raigarh & Billet at INR 33,500/MT FoR Raipur, officials reported.
— Odisha based manufacturer, Ganesh Metaliks offered Billet at INR 32,400/MT ex-plant, an official reported.
— East India, Odisha based manufacturer, Mahavir Ferro Alloys offered Billet at INR 32,500/MT ex-plant as per officials.
— Hare Krishna, a 300 TPD sponge manufacturer in Bellary, Karnataka has offered FeM 82 P-DRI at INR 20,600/MT ex-plant, an official reported.
— BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 20,000-20,100/MT ex-Bellary, offers incline by INR 400-500/MT from the last trade; 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 20,000/MT & INR 20,400/MT ex-plant, Karnataka; an official reported.
Wire Rod & Pipe
— Raipur based wire rod manufacturers increased offers by INR 300/MT and trade discount through manufacturers/suppliers is around INR 400-500/MT. The offers for 5.5 mm wire rod is hovering around INR 39,200/MT ex-Raipur & INR 37,700-38,000/MT ex-Durgapur.
— Steel Authority of India Limited (SAIL) is offering EQ grade wire rod at around INR 41,000/MT (ex-Bhilai size-7mm, GST extra): sources
— Raipur, Central India based ERW pipe manufacturers increased prices by INR 300-400/MT & offers reported at around INR 38,800/MT ex-plant & excluding GST.
— Hyderabad (South India) based manufacturer Mahalakshmi Profiles Pvt. Ltd (MPL) has offered ERW Pipe at INR 40,200/MT ex-plant. (basic & excluding GST).
Rebar (12 mm)
— Rathi Steels based in North region current offering at INR 39,350/MT.
— Raipur based – SPEED TMT offering at INR 36,400/MT (Up by INR 200/MT).
— Gujarat based Shreeyam Power & Steel Industries Ltd. (National TMT) unchanged their offering at INR 39,400/MT FoR.
— Jalna based SRJ Peety Steels Pvt Ltd (Shree Om) TMT offering at INR 38,200/MT (Up by INR 200/MT).
— Jalna based Rajuri Steel Pvt. Ltd. (Rajuri) TMT offering at INR 38,100/MT (Up by INR 400/MT).
— Chennai based Ponneri Steel Ind. (Triple Power) offering at INR 38,000/MT.
— East region based – Shakambhari Ispat & Power Ltd. offered Wire Rod 5.5 mm at INR 38,000/MT and TMT offering at INR 37,600/MT.
Note – Prices mentioned above are ex-work, excluding GST & changes are placed on day basis.
Reference prices as on 7th February 2019
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 26,800 | 26,700 | 26,900 | 0 | 25,600 | 25,800 |
| Ex-Mumbai | HMS(80:20) | 25,500 | 25,400 | 25,600 | 0 | 25,100 | 25,000 | |
| Ex-Chennai | HMS(80:20) | 24,700 | 24,600 | 24,900 | + 200 | 24,400 | 24,300 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 21,500 | 21,400 | 21,600 | 0 | 20,300 | 20,150 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 20,200 | 20,100 | 20,300 | 0 | 19,200 | 19,350 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 21,500 | 21,400 | 21,600 | + 300 | 20,100 | 20,100 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 20,100 | 20,000 | 20,200 | + 300 | 19,300 | 19,100 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 20,200 | 20,100 | 20,300 | 0 | 19,200 | 19,050 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 20,500 | 20,400 | 20,600 | + 300 | 18,800 | 18,550 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,900 | 19,800 | 20,000 | + 500 | 18,700 | 18,700 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 20,300 | 20,200 | 20,400 | + 400 | 19,300 | 19,500 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 34,850 | 34,800 | 34,900 | – 150 | 33,600 | 33,550 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 32,500 | 32,400 | 32,600 | 0 | 31,000 | 30,400 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 31,700 | 31,600 | 31,800 | + 50 | 30,200 | 29,800 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 32,400 | 32,300 | 32,400 | + 200 | 30,600 | 30,300 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 34,700 | 34,700 | 34,800 | + 200 | 33,300 | 33,200 | |
| Billet | Ex-Mandi Gobindgarh | 100×100 mm, IS 2831 | 35,250 | 35,200 | 35,300 | – 150 | 34,000 | 33,750 |
| Ex-Durgapur | 100×100 mm, IS 2831 | 33,000 | 32,900 | 33,100 | 0 | 31,500 | 30,900 | |
| Ex-Rourkela | 100×100 mm, IS 2831 | 32,200 | 32,100 | 32,300 | 0 | 30,800 | 30,300 | |
| Ex-Raipur | 100×100 mm, IS 2831 | 33,400 | 33,300 | 33,400 | + 150 | 31,600 | 31,100 | |
| Ex-Ahmedabad | 100×100 mm, IS 2831 | 34,350 | 34,300 | 34,400 | – 400 | 32,900 | 33,600 | |
| Ex-Mumbai | 100×100 mm, IS 2831 | 34,900 | 34,900 | 35,000 | + 100 | 33,500 | 33,400 | |
| Ex-Chennai | 100×100 mm, IS 2831 | 34,000 | 33,900 | 34,100 | + 400 | 32,500 | 32,800 | |
| Ex-Hyderabad | 100×100 mm, IS 2831 | 34,000 | 33,800 | 34,100 | + 300 | 32,000 | 32,500 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 38,100 | 37,900 | 38,300 | + 100 | 36,800 | 37,000 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 37,300 | 37,100 | 37,500 | 0 | 36,000 | 35,500 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 36,100 | 36,000 | 36,300 | + 200 | 34,600 | 35,000 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 38,000 | 37,700 | 38,200 | 0 | 36,800 | 36,500 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 37,500 | 37,400 | 37,800 | + 300 | 36,800 | 37,000 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 38,000 | 37,800 | 38,200 | + 500 | 36,000 | 37,000 | |
| Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 37,900 | 37,700 | 38,000 | + 200 | 36,400 | 36,800 |
| Ex-Raipur | Wire Rod(5.5 MM) | 39,500 | 39,000 | 39,500 | + 300 | 37,500 | 38,100 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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