Indian steel prices remain slightly fluctuated by INR 100-200/MT in line with average trade inquiries, as reported by participants.
Participants believed that, prices to remain volatile as liquidity crunch remain a major concern for bulk deals for inter or intra-states due to ongoing elections in the country.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 31,100-34,800/MT (USD 448-502) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 18,800-20,200/MT (USD 270-291); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 18th April 2019 (Thursday) INR to USD exchange rate stood at INR 69.39.
— ICEX (Indian Commodity Exchange Ltd) May’19 contract for STEELLONG today open at INR 34,120/MT & last traded (IST 18:15) at INR 34,100/MT.
— BSE Sensex closed at 39,140(-135) on Thursday, as against last day (Tuesday) at 39,275(+369).
— NSE Nifty50 index was closed today at 11,752(-34).
Raw Materials
— MMTC has issued a tender for purchase of Soft coking coal for a quantity of 19,000 MT coking coal on behalf of NINL, Odisha. The due date for submitting the bids is 22 Apr’19 till 11:00 hrs
— 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
— India’s mid sized mills export offers to Nepal for 100*100 mm Billet reported at USD 450-453/MT, however buying inquiries heard at USD 445-448/MT ex-mill, Durgapur.
— Private pig iron manufacturers in Durgapur sold pig iron at around INR 29,500/MT & in Jharkhand at INR 28,500-29,000/MT ex-plant.
— SAIL has schedule a auction to sale of about 10,000 MT basic grade Pig iron on 22nd Apr’19 from its Rourkela Steel Plant (RSP).
— Raipur, Central India based Integrated plants offering Sponge P-DRI at INR 18,500-18,700/MT & Sponge DR CLO grade at INR 20,500-20,700/MT ex-plant.
— Odisha based medium size sponge manufacturers offered FeM 80 C-DRI (70:30 mix material) at INR 18,700-18,800/MT ex-plant & excluding GST.
— Apple Industries in Bellary (Karnataka) offered Sponge FeM 83+ P-DRI lump at INR 20,500/MT & Billet at INR 32,400-32,500/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 19,600/MT & INR 20,000/MT ex-plant, Karnataka; an official reported.
Wire Rod & Pipe
— Trade discounts in Raipur Wire rod have increased to INR 1,500-1,600/MT, meanwhile basic prices for 5.5 mm stable at INR 38,400/MT ex-plant. Offers in Durgapur reported at INR 37,000-38,000/MT ex-plant, down by INR 100-200/MT.
— Mandi Gobindgarh, North India based ERW pipe manufacturers offers reported at around INR 40,600/MT ex-plant & excluding GST.
— Hyderabad (South India) based manufacturer Mahalakshmi Profiles Pvt. Ltd (MPL) has offered ERW Pipe at INR 39,700/MT ex-plant. (basic & excluding GST).
— Raipur, Central India based ERW pipe manufacturers offers reported at around INR 37,800-37,900/MT ex-plant & excluding GST. Offers unaltered for the day.
Rebar (12 mm)
— Rathi Steels based in North region has unchanged their offers around INR 39,100/MT (ex-Delhi).
— Raipur based – SPEED TMT has unchanged their offers at INR 36,100/MT.
— Gujarat based Shreeyam Power & Steel Industries Ltd. (National TMT) has unchanged their offers at INR 38,800/MT FoR.
— Jalna based SRJ Peety Steels Pvt Ltd (Shree Om) is offering at INR 37,500/MT.
— Mumbai based Vistar Metal Ind. Pvt. Ltd. (Vistar TMT) has unchanged their offers at INR 37,100/MT.
Note – Prices mentioned above are ex-work, excluding GST & changes are placed on day basis.
Reference prices as on 18th 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 | 25,800 | 25,800 |
| Ex-Mumbai | HMS(80:20) | 25,100 | 25,000 | 25,200 | – 100 | 25,100 | 24,800 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 20,200 | 20,100 | 20,300 | – 100 | 20,300 | 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 | 19,800 | 19,700 | 19,900 | – 50 | 19,500 | 19,800 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,800 | 19,700 | 19,900 | 0 | 19,800 | 19,000 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 18,900 | 18,800 | 19,000 | – 100 | 19,000 | 18,400 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 18,600 | 18,500 | 18,700 | 0 | 18,500 | 18,600 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,300 | 19,200 | 19,400 | – 100 | 19,400 | 18,400 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 19,900 | 19,800 | 20,000 | – 100 | 19,700 | 18,800 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 34,500 | 34,400 | 34,600 | 0 | 34,600 | 33,800 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 31,500 | 31,400 | 31,600 | – 100 | 31,500 | 31,500 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 30,800 | 30,700 | 30,900 | – 50 | 30,600 | 30,300 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 30,800 | 30,700 | 30,900 | – 50 | 30,800 | 31,000 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 32,700 | 32,600 | 32,800 | 0 | 32,600 | 33,000 | |
| Billet | Ex-Mandi Gobindgarh | 100×100 mm, IS 2831 | 34,800 | 34,700 | 34,900 | 0 | 35,000 | 34,100 |
| Ex-Durgapur | 100×100 mm, IS 2831 | 31,900 | 31,800 | 32,000 | – 100 | 31,900 | 31,900 | |
| Ex-Rourkela | 100×100 mm, IS 2831 | 31,200 | 31,100 | 31,200 | – 50 | 31,000 | 30,600 | |
| Ex-Raipur | 100×100 mm, IS 2831 | 31,500 | 31,400 | 31,600 | – 100 | 31,300 | 31,500 | |
| Ex-Ahmedabad | 100×100 mm, IS 2831 | 33,400 | 33,400 | 33,600 | + 100 | 33,550 | 33,850 | |
| Ex-Mumbai | 100×100 mm, IS 2831 | 32,900 | 32,800 | 33,000 | – 50 | 32,800 | 33,200 | |
| Ex-Hyderabad | 100×100 mm, IS 2831 | 32,500 | 32,400 | 32,600 | – 500 | 33,000 | 32,700 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 38,100 | 37,900 | 38,300 | 0 | 38,400 | 37,000 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 37,400 | 37,200 | 37,600 | 0 | 37,000 | 36,500 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 36,000 | 35,900 | 36,200 | 0 | 36,100 | 35,600 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 36,900 | 36,700 | 37,100 | 0 | 37,100 | 36,800 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 36,000 | 35,800 | 36,200 | – 500 | 36,500 | 36,200 | |
| Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 37,400 | 37,000 | 38,000 | – 100 | 37,100 | 36,800 |
| Ex-Raipur | Wire Rod(5.5 MM) | 38,400 | 36,900 | 38,400 | 0 | 38,300 | 38,000 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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