Indian Steel prices moved down trend today on demand concern, as per manufacturers. The Billet prices slump by INR 100-500/MT & Rebar by INR 100-300/MT.
However Sponge iron prices fluctuated by INR 100/MT in Central & Eastern India as power supply resumed to Punjipathra – Raigarh based furnaces, this has improved demand for Sponge.
Punjipathra Industrial park in Raigarh, Central India is one of the major merchant producer of ingot/billet. The industrial park has about 30 induction furnaces, which have monthly production capacity of around 80,000 MT. The production of furnaces was hampered since 1st April due to power cuts by Jindal by 30-50%, as sources reported.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 31,100-35,100/MT (USD 448-506) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 19,000-20,600/MT (USD 274-297); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 9th April 2019 (Tuesday) INR to USD exchange rate stood at INR 69.32.
— ICEX (Indian Commodity Exchange Ltd) May’19 contract for STEELLONG today open at INR 34,300/MT & last traded (IST 18:24) at INR 34,160/MT.
— BSE Sensex closed at 38,939(+238) on Tuesday, as against last day (Monday) at 38,700(-161).
— NSE Nifty50 index was closed today at 11,671(+67).
Raw Materials
— An Indian pellet maker has recently concluded two export deals of 50,000 MT(low Alumina) each for April delivery at around USD 106/MT, FoB India East coast- Sources.
— Odisha based miners widen discount on bulk Iron ore lump bookings; offers for 5-18 mm reported at Rs 3,700/t (ex-mines, incld royalty and DMF).
— Indian metallurgical coke imports have tumbled by 40% to 0.25 million tonnes (MnT) in Mar’19, as compared to 0.43 MnT in Feb’19, as per the vessel lineup data compiled by CoalMint Research.
— Imported scrap offers to India for HMS 1&2 (80:20) Dubai origin containers stood at around USD 325/MT, CFR Nhava Sheva.
Semi Finished
— Neo Metaliks in Durgapur has further raised pig iron prices by INR 100-200/MT & reported steel grade at INR 28,600-28,700/MT ex-plant.
— As per closed sources with Neelachal Ispat(NINL), the company has closed sales for Pig iron amid healthy bookings and latest offers are expected to be hike. The last offers for Steel (N1) grade material are assessed at INR 26,250-26,650/MT (USD 378-385), ex-Cuttack, Odisha.
— Raipur, Central India based Integrated plants offering Sponge P-DRI at INR 18,500-18,600/MT & Sponge DR CLO grade at INR 20,500-20,600/MT ex-plant.
— Rashmi Metaliks in Durgapur, known as price trend setter, has offered Sponge P-DRI at INR 19,500/MT – Sources.
— Sources reported Chandrapur (Maharashtra) based manufacturers offered Sponge C-DRI (FeM 80) at INR 18,600-18,700/MT, ex-plant & excluding GST.
— Odisha based medium size sponge manufacturers offered FeM 80 C-DRI (70:30 mix material) at INR 18,800-19,000/MT ex-plant & excluding GST.
— East India, Odisha based manufacturer, Mahavir Ferro Alloys offered Billet at INR 31,800/MT ex-plant as per officials.
— BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 19,000-19,100/MT ex-Bellary; 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 19,500/MT & INR 19,900/MT ex-plant, Karnataka; an official reported.
Wire Rod & Pipe
— Trade discounts in Raipur Wire rod have increased to INR 1,100-1,200/MT as against last day at INR 1,000/MT. Basic prices for 5.5 mm is hovering at INR 38,600/MT ex-Raipur (excluding discount) & INR 37,100-38,000/MT ex-Durgapur.
— Raipur, Central India based ERW pipe manufacturers reduced prices by INR 100-200/MT & offers reported at around INR 37,800/MT ex-plant & excluding GST.
— Mandi Gobindgarh, North India based ERW pipe manufacturers offers reported at around INR 41,200/MT ex-plant & excluding GST.
Rebar (12 mm)
— Rathi Steels based in North region has offered around INR 39,650/MT (ex-Delhi) (down by INR 350/MT).
— Raipur based – SPEED TMT has unchanged their offers at INR 36,500/MT.
— Scan Group branding (Shrishti TMT) is offering at around INR 36,500/MT (Raigarh).
— Raigarh based Anjani Steels Ltd. (Radhe TMT) has offered at INR 36,300/MT (down by INR 600/MT).
— Gujarat based Shreeyam Power & Steel Industries Ltd. (National TMT) is offering at INR 39,000/MT FoR.
— Jalna based SRJ Peety Steels Pvt Ltd (Shree Om) has offered at INR 37,700/MT (Down by INR 200/MT).
— Chennai based ARS Steel (ARS 500 D) is offering at INR 40,800/MT.
— Chennai based Ponneri Steel Ind. (Triple Power) 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 9th April 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 | 26,400 | 25,500 |
| Ex-Mumbai | HMS(80:20) | 25,300 | 25,200 | 25,400 | – 100 | 25,000 | 25,200 | |
| Ex-Chennai | HMS(80:20) | 24,900 | 24,800 | 25,000 | + 200 | 24,700 | 24,900 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 20,600 | 20,500 | 20,700 | – 100 | 20,300 | 19,000 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 19,000 | 18,900 | 19,100 | – 100 | 19,000 | 19,000 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 19,500 | 19,400 | 19,600 | – 100 | 20,000 | 20,000 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,400 | 19,300 | 19,500 | 0 | 18,800 | 19,300 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 19,400 | 19,300 | 19,500 | – 50 | 19,000 | 17,800 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 18,500 | 18,400 | 18,600 | 0 | 18,650 | 18,700 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,000 | 18,900 | 19,100 | 0 | 18,400 | 18,700 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 19,400 | 19,300 | 19,500 | 0 | 19,000 | 19,300 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 34,750 | 34,700 | 34,800 | – 50 | 34,200 | 34,150 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 31,700 | 31,600 | 31,800 | – 200 | 31,400 | 31,200 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 31,000 | 30,900 | 31,100 | – 400 | 30,600 | 30,700 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 31,000 | 30,900 | 31,100 | – 300 | 31,300 | 31,300 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 33,000 | 32,900 | 33,100 | – 300 | 33,100 | 33,700 | |
| Billet | Ex-Mandi Gobindgarh | 100×100 mm, IS 2831 | 35,100 | 35,000 | 35,200 | – 100 | 34,600 | 34,400 |
| Ex-Durgapur | 100×100 mm, IS 2831 | 32,100 | 32,000 | 32,200 | – 250 | 31,800 | 31,500 | |
| Ex-Rourkela | 100×100 mm, IS 2831 | 31,500 | 31,400 | 31,500 | – 300 | 31,000 | 31,000 | |
| Ex-Raipur | 100×100 mm, IS 2831 | 31,500 | 31,400 | 31,600 | – 400 | 31,750 | 31,600 | |
| Ex-Ahmedabad | 100×100 mm, IS 2831 | 33,650 | 33,600 | 33,700 | – 100 | 34,000 | 34,200 | |
| Ex-Mumbai | 100×100 mm, IS 2831 | 33,200 | 33,100 | 33,300 | – 300 | 33,300 | 33,900 | |
| Ex-Chennai | 100×100 mm, IS 2831 | 33,300 | 33,200 | 33,400 | 0 | 32,500 | 33,800 | |
| Ex-Hyderabad | 100×100 mm, IS 2831 | 33,000 | 32,900 | 33,100 | – 300 | 32,700 | 33,500 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 38,700 | 38,500 | 38,900 | – 200 | 38,100 | 37,600 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 37,300 | 37,100 | 37,500 | – 200 | 37,000 | 36,300 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 36,300 | 36,200 | 36,500 | – 100 | 36,100 | 36,000 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 37,100 | 36,900 | 37,300 | 0 | 37,000 | 37,600 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 38,100 | 37,800 | 38,200 | 0 | 37,500 | 38,500 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 36,700 | 36,500 | 36,900 | – 300 | 36,500 | 37,000 | |
| Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 37,400 | 37,100 | 38,000 | – 300 | 37,000 | 36,500 |
| Ex-Raipur | Wire Rod(5.5 MM) | 38,600 | 37,500 | 38,600 | 0 | 38,300 | 38,000 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
Leave a Reply