India’s Semi – finished steel prices increased following improved demand from the local mills. Today the prices surge near to INR 100-500/MT (upto USD 7).
On day trade activities, the major rise in Billet prices seen in North & Eastern India by INR 400-500/MT followed by INR 100-300/MT in remaining locations.
In context to Sponge iron, prices increased by INR 100-300/MT in major market. Moreover in Central region the producers have maintained prices as lower response seen from the local EA or Induction furnaces due to power issue.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 31,200-34,900/MT (USD 452-506) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 18,800-20,300/MT (USD 272-294); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 4th April 2019 (Thursday) INR to USD exchange rate stood at INR 69.12.
— ICEX (Indian Commodity Exchange Ltd) May’19 contract for STEELLONG today open at INR 34,080/MT & last traded (IST 18:12) at INR 34,160/MT.
— BSE Sensex closed at 38,684(-192) on Thursday, as against last day (Wednesday) at 38,877(-179).
— NSE Nifty50 index was closed today at 11,598(-45).
Raw Materials
— Indian iron ore imports in FY19 has been recorded at 12.36 MnT, up 44% compared to 8.60 MnT for FY18, according to the data maintained by SteelMint.
— IDCOL has issued tender for sale of around 33,000 MT iron ore from its Roida ‘C’ iron and manganese mines, Keonjhar (Odisha). The due date for bid submission is 5 Apr’19.
— China continued to remain the largest importer of Indian pellets in FY’19 with the quantity of 6.75 MnT, down by 10% as against 7.39 MnT in FY’18.
— SAIL, India’s govt owned steel mill has reported crude steel production up by 8% to 16.3 MnT in FY19 against 15.02 MnT in previous fiscal.
Semi Finished
— Electrosteels Ltd in Bokaro, Jharkhand is offering steel grade Pig iron at INR 27,200-27,300/MT ex-plant.
— Tata Metaliks Reduced pig iron prices and offering Foundry grade(2-2.5% Si) at INR 32,500/MT ex-plant, Kharagpur, eastern India.
— Raipur, Central India based Integrated plants offering Sponge P-DRI at INR 18,400-18,600/MT & Sponge DR CLO grade at INR 20,600-20,800/MT ex-plant.
— Odisha based medium size sponge manufacturers offered FeM 80 C-DRI (70:30 mix material) at INR 18,700-18,900/MT ex-plant & excluding GST.
— BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 18,700/MT ex-Bellary; an official reported.
— Apple Industries in Bellary (Karnataka) offered Sponge FeM 83+ P-DRI lump at INR 19,600/MT & Billet at INR 32,000/MT ex-plant.
— BIOP Steels in South India has offered FeM 80 & 82 C-DRI lumps at INR 19,100/MT & 19,500/MT ex-plant, Karnataka; an official reported.
Wire Rod & Pipe
— Rashmi Metaliks in Kharagpur (Durgapur) has offered 5.5mm Wire rod at INR 37,200/MT ex-plant.
— Trade discounts in Raipur Wire rod reduced by INR 300-500/MT and hovering at INR 500-700/MT as against last day. Basic prices for 5.5 mm stood at INR 38,300/MT ex-Raipur & INR 36,800-37,500/MT ex-Durgapur.
— Mandi Gobindgarh, North India based ERW pipe manufacturers offers reported at around INR 40,500/MT ex-plant & excluding GST.
— Hyderabad (South India) based manufacturer Mahalakshmi Profiles Pvt. Ltd (MPL) has offered ERW Pipe at INR 39,000/MT ex-plant (basic & excluding GST). Offers incline by INR 300/MT D-o-D.
Rebar (12 mm)
— Raipur based – SPEED TMT has offered at INR 36,300/MT (up by INR 200/MT).
— Raigarh based Anjani Steels Ltd. (Radhe TMT) has offered at INR 36,400/MT (up by INR 200/MT).
— Jalna based SRJ Peety Steels Pvt Ltd (Shree Om TMT) has unchanged their offers at INR 38,100/MT (up by INR 200/MT).
— South region based Tulsyan NEC Steel (Tulsyan TMT) is offering at INR 38,500/MT.
Note – Prices mentioned above are ex-work, excluding GST & changes are placed on day basis.
Reference prices as on 4th April 2019
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 26,000 | 25,900 | 26,100 | – 200 | 25,800 | 25,600 |
| Ex-Mumbai | HMS(80:20) | 25,100 | 25,000 | 25,200 | + 200 | 24,800 | 25,200 | |
| Ex-Chennai | HMS(80:20) | 24,600 | 24,500 | 24,700 | 0 | 24,500 | 25,200 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 20,300 | 20,200 | 20,400 | + 300 | 19,800 | 19,300 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 18,800 | 18,700 | 18,900 | + 100 | 18,700 | 19,800 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 19,800 | 19,700 | 19,900 | 0 | 19,700 | 20,400 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 18,800 | 18,700 | 18,900 | + 100 | 18,900 | 20,200 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 19,000 | 18,900 | 19,100 | + 300 | 18,400 | 18,100 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 18,500 | 18,400 | 18,600 | + 100 | 18,400 | 18,900 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 18,500 | 18,400 | 18,600 | 0 | 18,400 | 19,800 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 19,000 | 19,000 | 19,200 | 0 | 19,000 | 20,400 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 34,500 | 34,400 | 34,600 | + 400 | 33,800 | 34,650 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 31,500 | 31,400 | 31,600 | + 300 | 31,000 | 31,400 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 30,900 | 30,800 | 31,000 | + 500 | 30,200 | 31,500 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 31,350 | 31,300 | 31,400 | + 450 | 30,600 | 31,900 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 32,900 | 32,800 | 33,000 | 0 | 32,600 | 34,400 | |
| Billet | Ex-Mandi Gobindgarh | 100×100 mm, IS 2831 | 34,900 | 34,800 | 35,000 | + 400 | 34,200 | 35,000 |
| Ex-Durgapur | 100×100 mm, IS 2831 | 32,000 | 31,900 | 32,100 | + 400 | 31,300 | 31,900 | |
| Ex-Rourkela | 100×100 mm, IS 2831 | 31,200 | 31,100 | 31,300 | + 400 | 30,400 | 31,800 | |
| Ex-Raipur | 100×100 mm, IS 2831 | 31,900 | 31,800 | 32,000 | + 500 | 31,100 | 32,200 | |
| Ex-Ahmedabad | 100×100 mm, IS 2831 | 34,000 | 33,900 | 34,100 | + 100 | 33,300 | 34,750 | |
| Ex-Mumbai | 100×100 mm, IS 2831 | 33,100 | 33,000 | 33,200 | 0 | 32,800 | 34,600 | |
| Ex-Chennai | 100×100 mm, IS 2831 | 32,500 | 32,400 | 32,600 | – 200 | 32,000 | 34,300 | |
| Ex-Hyderabad | 100×100 mm, IS 2831 | 32,700 | 32,500 | 33,000 | + 200 | 32,500 | 34,000 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 38,300 | 38,100 | 38,500 | + 200 | 37,900 | 37,900 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 37,100 | 36,900 | 37,300 | + 300 | 36,300 | 36,800 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 36,200 | 36,000 | 36,400 | + 200 | 35,700 | 36,500 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 37,000 | 36,800 | 37,200 | 0 | 36,800 | 38,000 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 37,700 | 37,500 | 38,000 | 0 | 37,400 | 38,800 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 36,500 | 36,300 | 36,700 | + 300 | 36,000 | 37,500 | |
| Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 36,800 | 36,600 | 37,500 | + 100 | 36,500 | 36,900 |
| Ex-Raipur | Wire Rod(5.5 MM) | 38,300 | 37,600 | 38,300 | 0 | 38,000 | 39,100 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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