Today Billet prices in Central & Western India fall marginally by INR 200-300/MT on lessen response from the local mills. However in remaining parts of the country, producers have maintained offers on average trade activities, as reported by participants
Meanwhile sponge iron prices being fall by INR 100-200/MT in Central & Eastern regions following slight price corrections in Billet.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 32,300-35,700/MT (USD 458-506) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 20,000-21,100/MT (USD 283-299); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 5th March 2019 (Tuesday) INR to USD exchange rate stood at INR 70.52.
— ICEX (Indian Commodity Exchange Ltd) Apr’19 contract for STEELLONG today open at INR 35,060/MT & last traded (IST 18:06) at INR 34,900/MT.
— BSE Sensex closed at 36,442(+378) on Tuesday, as against last day (Friday) at 36,063(+196).
— NSE Nifty50 index was closed today at 10,987(+123).
Raw Materials
— Indian iron ore imports from Australia recorded at 0.33 MnT (up 76% M-o-M) against 0.19 MnT a month ago.
— Rungta Mines – India’s largest private merchant miner produced 2.29 MnT iron ore from its mines in Odisha in Jan’19, up 10% M-o-M as against 2.08 MnT in Dec’18.
— Indian pellet exports have marked the drop of 20% to 0.81 MnT in Feb’19 as against 1.02 MnT in Jan’19 – Customs.
Semi Finished
— SAIL’s Rourkela Steel Plant tender held today (5th Mar’19) to sell about 13,800 MT steel grade pig iron & had received moderate response. The base price for the tender was quoted by RSP at INR 27,400/MT and near about 78% (10,800 MT) material remained unsold.
— Raipur, Central India based Integrated plants offers decreased by INR 100/MT, offering Sponge P-DRI at INR 19,700-19,800/MT & Sponge DR CLO grade at INR 22,000-22,200/MT ex-plant.
— Raipur based mills sourcing P-DRI & Billet from Raigarh at around INR 19,700/MT & INR 33,100/MT FoR Raipur.
— Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 20,300/MT & Billet at INR 32,200/MT ex-plant.
— Odisha based manufacturer sold billet to Jalna (Maharashtra) at INR 34,500-34,600/MT FoR Jalna.
— BIOP Steels in South India has offered FeM 80 & 82 C-DRI lumps at INR 20,400/MT & 20,900/MT ex-plant, Karnataka; an official reported.
— BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 20,300/MT ex-Bellary, an official reported.
— Apple Industries in Bellary (Karnataka) offered Sponge FeM 83+ P-DRI lump at INR 21,300/MT & Billet at INR 34,600/MT ex-plant.
Wire Rod & Pipe
— Raipur based wire rod manufacturers offers unchanged and trade discount through the manufacturers/suppliers is around INR 1,000-1,200/MT. The offers for 5.5 mm wire rod is hovering at around INR 40,000/MT ex-Raipur & INR 37,400-37,600/MT ex-Durgapur.
— Mandi Gobindgarh, North India based ERW pipe manufacturers increased prices by INR 300/MT & offers reported at around INR 41,800/MT ex-plant & excluding GST.
— Hyderabad (South India) based manufacturer Mahalakshmi Profiles Pvt. Ltd (MPL) has offered ERW Pipe at INR 40,600/MT ex-plant. (basic & excluding GST).
Reference prices as on 5th March 2019
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 26,100 | 26,000 | 26,200 | – 200 | 25,800 | 26,500 |
| Ex-Mumbai | HMS(80:20) | 25,400 | 25,300 | 25,500 | 0 | 25,000 | 25,300 | |
| Ex-Chennai | HMS(80:20) | 25,500 | 25,300 | 25,600 | – 200 | 25,000 | 24,500 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 20,000 | 19,900 | 20,100 | – 200 | 19,600 | 21,100 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 20,300 | 20,200 | 20,400 | 0 | 20,000 | 19,800 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 21,100 | 21,000 | 21,200 | – 100 | 21,000 | 20,900 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 20,500 | 20,400 | 20,600 | NA | 20,200 | 19,700 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 18,800 | 18,700 | 18,900 | – 200 | 18,400 | 19,800 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 19,750 | 19,700 | 19,800 | – 50 | 19,800 | 19,900 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 20,200 | 20,100 | 20,300 | NA | 19,700 | 19,300 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 20,800 | 20,700 | 20,900 | – 200 | 20,400 | 19,600 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 35,200 | 35,100 | 35,300 | 0 | 34,350 | 34,500 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 32,100 | 32,000 | 32,200 | – 100 | 31,100 | 32,000 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 31,900 | 31,800 | 32,000 | 0 | 31,000 | 31,100 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 32,600 | 32,500 | 32,700 | – 100 | 31,900 | 31,800 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 35,300 | 35,200 | 35,400 | – 200 | 34,700 | 34,300 | |
| Billet | Ex-Mandi Gobindgarh | 100×100 mm, IS 2831 | 35,700 | 35,600 | 35,800 | + 100 | 34,800 | 34,900 |
| Ex-Durgapur | 100×100 mm, IS 2831 | 32,650 | 32,600 | 32,700 | – 50 | 31,600 | 32,500 | |
| Ex-Rourkela | 100×100 mm, IS 2831 | 32,300 | 32,200 | 32,400 | 0 | 31,400 | 31,700 | |
| Ex-Raipur | 100×100 mm, IS 2831 | 33,050 | 33,000 | 33,100 | – 350 | 32,800 | 32,900 | |
| Ex-Ahmedabad | 100×100 mm, IS 2831 | 35,700 | 35,600 | 35,800 | – 200 | 34,950 | 34,400 | |
| Ex-Mumbai | 100×100 mm, IS 2831 | 35,500 | 35,400 | 35,600 | – 250 | 34,950 | 34,500 | |
| Ex-Chennai | 100×100 mm, IS 2831 | 34,700 | 34,500 | 34,900 | 0 | 34,200 | 33,000 | |
| Ex-Hyderabad | 100×100 mm, IS 2831 | 35,000 | 34,900 | 35,100 | 0 | 33,800 | 33,000 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 38,400 | 38,200 | 38,600 | – 200 | 37,400 | 37,500 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 37,500 | 37,300 | 37,700 | 0 | 36,000 | 37,000 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 37,000 | 36,900 | 37,200 | + 300 | 35,900 | 35,400 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 38,600 | 38,400 | 39,000 | 0 | 38,300 | 37,600 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 39,000 | 38,800 | 39,200 | 0 | 38,600 | 37,100 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 38,500 | 38,300 | 38,700 | 0 | 37,200 | 37,000 | |
| Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 37,700 | 37,500 | 38,000 | – 300 | 36,800 | 37,400 |
| Ex-Raipur | Wire Rod(5.5 MM) | 40,000 | 39,100 | 40,000 | 0 | 39,000 | 38,400 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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