Indian spot steel trade activities remain limited and the prices fall further due to festive holidays mood and seasonal rising supply. On day trade activities the prices slump by INR 100-400/MT (upto USD 6).
The Billet prices fall by INR 100-400/MT, Rebar by INR 100-300/MT & Sponge iron marginally by INR 100/MT, day on day in major markets.
Industry expects trade activities to remain weak due to festive mood and this may result slight price fluctuations.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 30,500-34,100/MT (USD 445-498) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 18,800-19,700/MT (USD 274-288); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 18th March 2019 (Monday) INR to USD exchange rate stood at INR 68.56.
— ICEX (Indian Commodity Exchange Ltd) Apr’19 contract for STEELLONG today open at INR 33,900/MT & last traded (IST 18:08) at INR 33,860/MT.
— BSE Sensex closed at 38,095(+70) on Monday, as against last day (Friday) at 38,024(+269).
— NSE Nifty50 index was closed today at 11,462(+35).
Raw Materials
— Essar Steel procured 0.69 MnT of iron ore in Feb’19 from NMDC’s Bailadila mines in Chhattisgarh via slurry pipeline, up 23% against procurement in Jan’19 at 0.57 MnT.
— Melting scrap offers in Western India- Jalna (Maharashtra) decline by INR 300/MT in a day trade activities.
— South African RB2 (5500 NAR) coal offers are assessed at USD 61/MT on FoB basis & USD 74/MT CNF India
Semi Finished
— As per sources, RINL has received good response for Billet (90*90mm) export tender to Nepal and tender most likely to get conclude.
— Neo Metaliks in Durgapur has slightly lower pig iron offers and reported steel grade at INR 27,700/MT ex-plant.
— SAIL has schedule a auction to sale of about 9450 MT basic grade Pig iron on 20th Mar’19 from its Rourkela Steel Plant (RSP).
— Rashmi Metaliks in Durgapur, known as price trend setter, has offered Sponge P-DRI at INR 18,100/MT – Sources.
— An integrated plants in Raipur has offered Sponge P-DRI at INR 18,400-18,500/MT, meanwhile buying interest reported at INR 18,200-18,300/MT; ex-plant.
— Aloke Steel Industries (Jharkhand) offered Fem 78-80 C-DRI lumps at INR 19,860/MT & Sponge mix material (60:40) at INR 19,300/MT ex-plant.
— East India, Odisha based manufacturer, Mahavir Ferro Alloys offered Billet at INR 31,000/MT ex-plant as per officials. However as per participants no major deals at this prices.
— Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 19,000/MT & Billet at INR 30,500/MT ex-plant.
— BIOP Steels in South India has decreased sponge prices by INR 200/MT, offering FeM 80 & 82 C-DRI lumps at INR 19,400/MT & INR 19,800/MT ex-plant, Karnataka; an official reported.
Wire Rod & Pipe
— Raipur based Real Ispat (GK TMT) has reduced prices by INR 400/MT to INR 37,700/MT ex-plant for 10-25 mm. Wire rod (5.5 mm) offers reported at INR 38,000/MT ex-plant & excluding trade discount. As per officials, outlook seems positive as demand is expected to improve post Holi festival.
— Wire rod trade discount through the re-sellers/manufacturers in Raipur assessed at INR 1,000-1,300/MT. Meanwhile the offers stood at INR 38,000/MT ex-Raipur & INR 37,500/MT ex-Durgapur for 5.5mm.
— Raipur (Central India) & Mandi Gobindgarh (North India) based pipe manufacturers kept offers at firm level, offering ERW pipe at around INR 37,000/MT & INR 40,400/MT; prices are ex-plant & excluding GST.
Rebar (12 mm)
— Rathi Steels based in North region is offering at INR 38,200/MT (ex-Delhi & Down by around INR 200/MT).
— Raipur based – SPEED TMT has unchanged their offers at INR 35,700/MT.
— Gujarat based Shreeyam Power & Steel Industries Ltd. (National TMT) is offering at INR 38,800/MT FoR (down by INR 200/MT).
— Jalna based Rajuri Steel Pvt. Ltd. (Rajuri) TMT has unchanged their offers at INR 37,800/MT.
— South region based Prakash Ferrous Ind. Pvt. Ltd (Tirumala) currently being offered at INR 39,500/MT.
— Chennai based Shakti Ferro Alloys, (SSI TMT) currently being offered at INR 38,000/MT.
Note – Prices mentioned above are ex-work, excluding GST & changes are placed on day basis.
Reference prices as on 18th March 2019
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 25,700 | 25,600 | 25,800 | 0 | 25,700 | 26,000 |
| Ex-Mumbai | HMS(80:20) | 25,000 | 24,900 | 25,100 | 0 | 25,200 | 25,500 | |
| Ex-Chennai | HMS(80:20) | 24,800 | 24,800 | 25,100 | 0 | 24,900 | 25,200 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 19,250 | 19,200 | 19,300 | + 100 | 19,200 | 21,000 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 18,800 | 18,700 | 18,900 | – 100 | 19,300 | 20,700 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 19,700 | 19,600 | 19,800 | – 100 | 20,200 | 21,600 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,000 | 18,900 | 19,100 | – 100 | 19,600 | 21,200 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 18,050 | 18,000 | 18,100 | + 100 | 18,000 | 19,800 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 18,300 | 18,200 | 18,400 | – 100 | 18,900 | 20,600 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 18,400 | 18,300 | 18,500 | – 100 | 19,000 | 20,600 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 18,900 | 18,800 | 19,000 | – 100 | 19,600 | 21,000 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 33,800 | 33,700 | 33,900 | – 100 | 34,250 | 35,500 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 31,200 | 31,100 | 31,300 | 0 | 31,300 | 32,500 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 30,300 | 30,300 | 30,400 | 0 | 30,800 | 32,500 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 30,900 | 30,800 | 31,000 | – 100 | 31,700 | 32,850 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 33,100 | 32,000 | 33,100 | – 200 | 34,000 | 35,200 | |
| Billet | Ex-Mandi Gobindgarh | 100×100 mm, IS 2831 | 34,100 | 34,000 | 34,200 | – 100 | 34,700 | 36,100 |
| Ex-Durgapur | 100×100 mm, IS 2831 | 31,500 | 31,400 | 31,600 | 0 | 31,700 | 32,800 | |
| Ex-Rourkela | 100×100 mm, IS 2831 | 30,500 | 30,400 | 30,600 | – 100 | 31,300 | 33,300 | |
| Ex-Raipur | 100×100 mm, IS 2831 | 31,400 | 31,300 | 31,500 | – 100 | 32,000 | 33,800 | |
| Ex-Ahmedabad | 100×100 mm, IS 2831 | 33,800 | 33,700 | 33,900 | – 100 | 34,800 | 35,500 | |
| Ex-Mumbai | 100×100 mm, IS 2831 | 33,300 | 33,200 | 33,300 | – 250 | 34,200 | 35,500 | |
| Ex-Chennai | 100×100 mm, IS 2831 | 33,000 | 32,900 | 33,100 | – 350 | 33,800 | 35,000 | |
| Ex-Hyderabad | 100×100 mm, IS 2831 | 32,700 | 32,500 | 33,000 | – 300 | 33,500 | 34,000 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 36,900 | 36,800 | 37,100 | – 200 | 37,800 | 38,900 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 36,000 | 35,800 | 36,200 | – 100 | 36,500 | 37,800 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 35,600 | 35,500 | 35,800 | 0 | 36,100 | 36,900 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 36,900 | 36,700 | 37,200 | – 200 | 37,800 | 38,700 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 38,000 | 37,800 | 38,200 | – 200 | 38,600 | 39,100 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 36,500 | 36,300 | 36,700 | 0 | 37,000 | 37,800 | |
| Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 36,500 | 36,300 | 36,800 | 0 | 36,600 | 38,000 |
| Ex-Raipur | Wire Rod(5.5 MM) | 38,000 | 36,700 | 38,000 | 0 | 38,400 | 40,500 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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