Indian steel market observed limited trade activities, hence the Sponge iron & Billet prices remain slightly fell by INR 100-200/MT day-on-day in major markets.
However, the pig iron prices further increased in Central & Eastern regions by aound INR 500/MT due to short supply, as reported by participants.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 31,200-34,800/MT (USD 449-501) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 18,800-20,300/MT (USD 270-293); prices are ex-plant & excluding GST.
Rupee
— On 17th April 2019 (Wednesday) INR to USD exchange rate stood at INR 69.40.
Raw Materials
— Odisha merchant Iron ore mining leases expiring on 2020 submit G2 exploration report; further guidelines expected to be out after elections – Sources.
— JSW Steel’s iron ore purchases from Karnataka e-auctions decreased by 48% to 1.02 MnT in Mar’19 compared to 1.98 MnT in Feb’19.
— JSPL’s steel output from Indian operations moved up by 30% in FY19 to 5.25 MnT which was 4.02 MnT in FY18.
— Melting scrap offers in Western India- Gujarat decline by INR 200/MT in a day trade activities.
Semi Finished
— According to vessel-line up data maintained with SteelMint, India is to import 21,590 MT HBI (Hot Briquetted Iron) from Iran.
— Mid sized mills Billet(100*100 mm) export offers to Nepal is hovering at USD 450-455/MT, however buying interest reported at less than of USD 450/MT ex-mill, Durgapur. Freight cost to Nepal reported at around USD 30/MT CNF Raxaul border(Nepal).
— As per sources, Mesco Steels in Jajpur (Odisha) has increased pig iron prices by INR 200-300/MT to INR 27,400-27,500/MT (steel grade), ex-plant.
— Private pig iron manufacturers have increased offers by around INR 500/MT & latest price assessment stood at INR 27,500-28,000/MT ex-Raipur & INR 29,300-29,700/MT ex-Durgapur; excluding GST.
— Raipur, Central India based Integrated plants offering Sponge P-DRI at INR 18,600-18,800/MT & Sponge DR CLO grade at INR 20,600-20,800/MT ex-plant.
— BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 19,500-19,600/MT ex-Bellary, offers incline by INR 100-200/MT from the last trade; an official reported.
— Apple Industries in Bellary (Karnataka) offered Sponge FeM 83+ P-DRI lump at INR 20,500/MT & Billet at INR 32,500/MT ex-plant.
— BIOP Steels in South India has offered FeM 80 & 82 C-DRI lumps at INR 19,800/MT & 20,200/MT ex-plant, Karnataka; an official reported.And added good inquiries at this prices.
Wire Rod & Pipe
— Mandi Gobindgarh, North India based ERW pipe manufacturers offers reported at around INR 40,700/MT ex-plant & excluding GST.
— Rashmi Metaliks in Kharagpur (Durgapur) has reduced Wire rod (5.5 mm) prices by INR 200/MT to INR 37,800/MT ex-plant.
— Trade discounts in Raipur Wire rod more or less firm & stood at around INR 1,300/MT. However basic prices down by INR 300/MT to INR 38,400/MT ex-Raipur & in Durgapur it fell by INR 100-200/MT to INR 37,200-38,000/MT ex-Durgapur.
— Raipur, Central India based ERW pipe manufacturers offers reported at around INR 37,800-37,900/MT ex-plant & excluding GST. Offers decline by INR 100-200/MT.
Reference prices as on 17th April 2019
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 25,900 | 25,800 | 26,000 | – 200 | 25,900 | 25,800 |
| Ex-Mumbai | HMS(80:20) | 25,200 | 25,000 | 25,300 | 0 | 25,300 | 24,800 | |
| Ex-Chennai | HMS(80:20) | 24,500 | 24,400 | 24,700 | – 100 | 24,800 | 24,600 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 20,300 | 20,200 | 20,400 | – 100 | 20,500 | 19,600 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 18,800 | 18,700 | 18,900 | 0 | 18,800 | 18,700 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 19,850 | 19,800 | 19,900 | – 50 | 19,500 | 19,800 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,800 | 19,700 | 19,900 | – 100 | 19,600 | 19,000 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 19,000 | 18,900 | 19,100 | – 100 | 19,200 | 18,400 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 18,600 | 18,500 | 18,700 | – 100 | 18,500 | 18,600 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,400 | 19,300 | 19,500 | – 100 | 19,100 | 18,400 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 20,000 | 19,900 | 20,100 | 0 | 19,500 | 18,800 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 34,500 | 34,400 | 34,600 | 0 | 34,450 | 33,800 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 31,600 | 31,500 | 31,700 | 0 | 31,500 | 31,500 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 30,850 | 30,800 | 30,900 | – 150 | 30,800 | 30,300 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 30,850 | 30,800 | 30,900 | – 150 | 30,850 | 31,000 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 32,700 | 32,700 | 32,800 | – 50 | 32,800 | 33,000 | |
| Billet | Ex-Mandi Gobindgarh | 100×100 mm, IS 2831 | 34,800 | 34,700 | 34,900 | – 100 | 34,850 | 34,100 |
| Ex-Durgapur | 100×100 mm, IS 2831 | 32,000 | 31,900 | 32,100 | 0 | 31,900 | 31,900 | |
| Ex-Rourkela | 100×100 mm, IS 2831 | 31,250 | 31,200 | 31,300 | + 50 | 31,200 | 30,600 | |
| Ex-Raipur | 100×100 mm, IS 2831 | 31,600 | 31,500 | 31,700 | – 100 | 31,300 | 31,500 | |
| Ex-Ahmedabad | 100×100 mm, IS 2831 | 33,300 | 33,200 | 33,400 | 0 | 33,600 | 33,850 | |
| Ex-Mumbai | 100×100 mm, IS 2831 | 32,950 | 32,900 | 33,000 | – 50 | 33,000 | 33,200 | |
| Ex-Chennai | 100×100 mm, IS 2831 | 33,200 | 33,100 | 33,300 | 0 | 33,300 | 32,850 | |
| Ex-Hyderabad | 100×100 mm, IS 2831 | 33,000 | 32,900 | 33,100 | 0 | 33,000 | 32,700 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 38,100 | 37,900 | 38,300 | – 100 | 38,500 | 37,000 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 37,400 | 37,200 | 37,600 | 0 | 37,300 | 36,500 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 36,000 | 35,900 | 36,200 | 0 | 36,300 | 35,600 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 36,900 | 36,700 | 37,100 | 0 | 37,100 | 36,800 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 37,800 | 37,600 | 38,000 | 0 | 38,000 | 38,000 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 36,500 | 36,300 | 36,700 | – 200 | 36,700 | 36,200 | |
| Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 37,500 | 37,200 | 38,000 | – 100 | 37,300 | 36,800 |
| Ex-Raipur | Wire Rod(5.5 MM) | 38,400 | 37,100 | 38,400 | – 300 | 38,300 | 38,000 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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