Indian steel market observed improvement by the end of day trade activities as producers slightly raised prices on better trade volumes.
However in comparison with last day (18th Feb) deals, the prices moved down today by about INR 100-500/MT (upto USD 7) in Rebar, Billet & Sponge iron through the mid sized mills.
As per industry experts, Semis prices seems on bottom line and less scope for further drop. Although the price movement will be more dependent on finished steel sales which is not up to the mark at current circumstances.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 32,500-36,000/MT (USD 454-503) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 20,400-21,300/MT (USD 285-298); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 19th February 2019 (Tuesday) INR to USD exchange rate stood at INR 71.48
— ICEX (Indian Commodity Exchange Ltd) Mar’19 contract for STEELLONG today open at INR 34,750/MT & last traded (IST 18:18) at INR 34,970/MT.
— BSE Sensex closed at 35,352(-145) on Tuesday, as against last day (Monday) at 35,498(-310).
— NSE Nifty50 index was closed today at 10,604(-36).
Raw Materials
— Essar Steel sourced 0.20 MnT iron ore in Jan’19 from Odisha’s merchant mines, down 52% M-o-M as against 0.42 MnT.
Semi Finished
— As per sources, small parcels of Billet exports deal concluded last day through the Durgapur based mills at approximately USD 455-457/MT ex-works, which is equivalent to USD 485/MT CNF Nepal.
— Raipur, Central India based Integrated plants offers decreased by INR 300/MT, offering Sponge P-DRI at INR 20,200-20,400/MT & Sponge DR CLO grade at INR 22,200-22,400/MT ex-plant.
— Raigarh based Singhal Steel offered P-DRI at INR 19,400/MT ex-Raigarh & Billet at INR 33,200-33,300/MT FoR Raipur, officials reported.
— East India, Odisha based manufacturer Mahavir Ferro Alloys offered Billet at INR 32,800/MT ex-plant as per officials.
— Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 20,500/MT & Billet at INR 32,600/MT ex-plant.
— BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 20,300-20,400/MT ex-Bellary, offers decline by INR 300/MT from the last trade; an official reported.
— BIOP Steels in South India has kept offers unaltered; offering FeM 80 & 82 C-DRI lumps at INR 21,000/MT & 21,300/MT ex-plant, Karnataka; an official reported.
— Hare Krishna, a 300 TPD sponge manufacturer in Bellary, Karnataka has offered FeM 82 P-DRI at INR 21,300-21,500/MT ex-plant, an official reported.
— South India (Telangana) based Cauvery Iron & Steel offers FeM 80 P-DRI & Billet at INR 20,800/MT & INR 34,000/MT. Also offering 12 mm Rebar at INR 37,500/MT. All prices are ex-plant & excluding GST
Wire Rod & Pipe
— Raipur, Central India based ERW pipe manufacturers decreased prices by INR 500/MT & offers reported at around INR 39,000/MT ex-plant & excluding GST.
— Raipur based wire rod manufacturers reduced offers by INR 500/MT and trade discount through the manufacturers/suppliers is around INR 1,000-1,500/MT. The offers for 5.5 mm wire rod is hovering around INR 40,000/MT ex-Raipur & INR 37,400-37,800/MT ex-Durgapur.
— Rashmi Metaliks reduced wire rod offers & reported at INR 37,500/MT (5.5 mm) ex-Kharagpur, east India.
— Mandi Gobindgarh, North India based manufacturers offered ERW Pipe at around INR 42,000/MT ex-plant & excluding GST.
Rebar (12 mm)
— A large mill is offering rebar at around INR 40,500/MT, Ex-Chennai – Sources
— Raipur based – SPEED TMT offering at INR 36,500/MT (Down by INR 500/MT).
— Raigarh based Anjani Steels Ltd. (Radhe TMT) current offering at INR 36,300/MT.
— Gujarat based Shreeyam Power & Steel Industries Ltd. (National TMT) current offering at INR 39,700/MT FoR (Down by INR 200/MT).
— Gujarat based Akshar Ispat Ltd. (Akshat TMT) current offering at INR 39,700/MT FoR.
— Jalna based SRJ Peety Steels Pvt Ltd (Shree Om) TMT unchanged their offering at INR 38,300/MT.
— Jalna based Kalika Steel Alloys Pvt Ltd current offering at INR 38,800/MT.
Note – Prices mentioned above are ex-work, excluding GST & changes are placed on day basis.
Reference prices as on 19th February 2019
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 25,800 | 25,700 | 25,900 | – 200 | 27,000 | 25,900 |
| Ex-Mumbai | HMS(80:20) | 25,300 | 25,100 | 25,500 | – 200 | 25,800 | 24,900 | |
| Ex-Chennai | HMS(80:20) | 25,200 | 25,000 | 25,400 | 0 | 25,400 | 24,200 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 20,500 | 20,400 | 20,600 | – 500 | 22,000 | 20,200 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 20,500 | 20,400 | 20,600 | – 200 | 21,400 | 19,300 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 21,300 | 21,200 | 21,400 | – 300 | 22,700 | 20,200 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 21,000 | 20,900 | 21,100 | – 200 | 21,500 | 19,000 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 19,300 | 19,200 | 19,400 | – 500 | 20,900 | 19,000 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 20,300 | 20,200 | 20,400 | – 300 | 21,800 | 18,700 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 20,400 | 20,300 | 20,500 | – 200 | 20,900 | 18,500 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 20,900 | 20,800 | 21,000 | – 100 | 21,500 | 19,400 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 35,300 | 35,300 | 35,400 | – 200 | 36,250 | 33,800 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 32,100 | 32,000 | 32,200 | – 400 | 33,500 | 30,900 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 32,000 | 31,900 | 32,100 | – 500 | 33,400 | 30,200 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 32,400 | 32,300 | 32,500 | – 450 | 34,150 | 30,800 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 35,500 | 35,400 | 35,600 | + 300 | 36,300 | 32,800 | |
| Billet | Ex-Mandi Gobindgarh | 100×100 mm, IS 2831 | 36,000 | 35,900 | 36,100 | – 100 | 36,700 | 34,200 |
| Ex-Durgapur | 100×100 mm, IS 2831 | 32,500 | 32,400 | 32,600 | – 300 | 34,000 | 31,400 | |
| Ex-Rourkela | 100×100 mm, IS 2831 | 32,600 | 32,500 | 32,700 | – 700 | 34,300 | 30,650 | |
| Ex-Raipur | 100×100 mm, IS 2831 | 33,300 | 33,200 | 33,400 | – 500 | 35,150 | 31,700 | |
| Ex-Ahmedabad | 100×100 mm, IS 2831 | 35,200 | 35,100 | 35,300 | – 300 | 36,300 | 33,200 | |
| Ex-Mumbai | 100×100 mm, IS 2831 | 35,750 | 35,700 | 35,800 | + 250 | 36,600 | 33,000 | |
| Ex-Chennai | 100×100 mm, IS 2831 | 35,000 | 34,800 | 35,000 | 0 | 35,200 | 32,500 | |
| Ex-Hyderabad | 100×100 mm, IS 2831 | 34,000 | 33,900 | 34,100 | 0 | 35,200 | 32,000 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 38,500 | 38,300 | 38,500 | – 400 | 39,500 | 37,100 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 37,300 | 37,100 | 37,500 | – 500 | 38,800 | 35,800 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 36,400 | 36,100 | 36,500 | – 500 | 37,800 | 34,700 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 38,700 | 38,400 | 38,900 | 0 | 39,400 | 36,400 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 39,100 | 38,900 | 39,300 | 0 | 39,000 | 36,600 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 37,500 | 37,300 | 37,700 | – 300 | 39,000 | 36,500 | |
| Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 37,500 | 37,300 | 37,700 | – 500 | 39,400 | 36,600 |
| Ex-Raipur | Wire Rod(5.5 MM) | 40,000 | 38,800 | 40,000 | – 500 | 41,200 | 37,600 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
Leave a Reply