Indian Sponge iron & Billet prices marginally fell by INR 100-300/MT today due to limited spot trades, as per Industry participants.
In context to finished steel, the Rebar & Wire rod prices down in the range of INR 100-500/MT owing to rising selling pressure, SteelMint learned in conversation with mid sized mills & stockiests.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 30,900-34,500/MT (USD 443-496) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 18,700-19,900/MT (USD 268-286); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 22nd April 2019 (Monday) INR to USD exchange rate stood at INR 69.59.
— ICEX (Indian Commodity Exchange Ltd) May’19 contract for STEELLONG today open at INR 34,010/MT & last traded (IST 18:20) at INR 34,010/MT.
— BSE Sensex closed at 38,645(-495) on Monday & NSE Nifty50 index was closed today at 11,594(-158).
Raw Materials
— According to the latest assessment of Coking coal, spot prices of the Premium HCC are reported at around USD 206/MT FoB Australia & USD 218.2/MT CNF India.
— South African RB2 (5500 NAR) coal offers are assessed at USD 58/MT on FoB basis & USD 71/MT CNF India.
— As per vessel line up data maintained with SteelMint, a bulk scrap import vessel named ‘Bao Resource’ is expected to arrive at Kandla port on 27th Apr’19.
Semi Finished
— Rashtriya Ispat Nigam Limited (RINL)- state-owned steel maker under the Ministry of Steel, has invited export tender for 30,000 MT Billets. Interested bidders can submit their bids till 26 Apr’19 at 15:00 hrs.
— SAIL’s Rourkela Steel Plant conducted auction for 10,000 MT steel grade pig iron today in which it raised price by INR 800-850/MT against last auction. The base price for the tender was quoted by RSP at INR 27,350/MT and near about 35% material offered was booked.
— As per participants, small lots of pig iron purchased from Mesco Steels at INR 27,700-27,800/MT ex-plant, Jajpur(Odisha).
— As per officials from Neo Metaliks in Durgapur, response is weak at the offers of steel grade material at INR 29,300/MT ex-plant.
— 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.
— Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 18,700/MT & Billet at INR 30,800/MT ex-plant.
— Apple Industries in Bellary (Karnataka) offered Sponge FeM 83+ P-DRI lump at INR 20,500/MT & Billet at INR 32,300/MT ex-plant.
— BMM Ispat a price trend setter in South Indian sponge market has kept offers unaltered today and offered FeM 80 P-DRI lumps at INR 19,300-19,400/MT ex-Bellary, Karnataka.
— BIOP Steels in South India has offered FeM 80 & 82 C-DRI lumps at INR 19,600/MT & INR 20,000/MT ex-plant, Karnataka; an official reported.
Wire Rod & Pipe
— Following cuts in basic price by INR 500/MT in Raipur wire rod, the trade discounts being reduced by resellers/manufacturers to INR 1,100-1,300/MT as against Saturday (20th Apr) at around INR 1,500-1,700/MT. Basic prices for 5.5 mm is hovering at INR 37,900/MT ex-Raipur & INR 36,800-37,800/MT ex-Durgapur.
— Hyderabad (South India) based manufacturer Mahalakshmi Profiles Pvt. Ltd (MPL) has offered ERW Pipe at INR 39,300/MT ex-plant. (basic & excluding GST).
— Raipur, Central India based ERW pipe manufacturers offers reported at around INR 37,700/MT ex-plant & excluding GST. Offers unaltered for the day.
Rebar (12 mm)
— Rathi Steels based in North region is offering around INR 38,900/MT (ex-Delhi).
— Raipur based – SPEED TMT is offering at INR 35,800/MT (down by INR 300/MT).
— Real Ispat (GK TMT) is offering at INR 38,000/MT (down by INR 300/MT).
— Raigarh based N.R Ispat & Power Pvt. Ltd (N.R TMT) is offering at INR 35,800/MT.
— Gujarat based Shreeyam Power & Steel Industries Ltd. (National TMT) has unchanged their offers at INR 38,600/MT FoR.
— Chennai based ARS Steel (ARS 500 D) has unchanged their offers at INR 40,800/MT.
— Chennai based Ponneri Steel Ind. (Triple Power) has unchanged their offers at INR 38,500/MT.
— Chennai based Sakthi Ferro Alloys India Pvt. Ltd. (SSI TMT) is currently 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 22nd April 2019
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 26,800 | 26,700 | 26,900 | + 200 | 25,800 | 26,400 |
| Ex-Mumbai | HMS(80:20) | 24,800 | 24,700 | 24,900 | – 200 | 25,200 | 25,000 | |
| Ex-Chennai | HMS(80:20) | 24,400 | 24,200 | 24,600 | – 100 | 24,600 | 24,600 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 19,900 | 19,800 | 20,000 | – 300 | 20,300 | 20,400 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 18,700 | 18,600 | 18,800 | – 100 | 18,800 | 19,100 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 19,500 | 19,400 | 19,600 | – 100 | 19,800 | 20,200 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,600 | 19,500 | 19,700 | – 200 | 19,800 | 19,100 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 18,600 | 18,500 | 18,700 | – 300 | 19,000 | 19,150 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 18,500 | 18,400 | 18,600 | – 50 | 18,750 | 18,950 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,300 | 19,200 | 19,400 | 0 | 19,400 | 18,700 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 19,700 | 19,600 | 19,800 | – 100 | 19,900 | 19,000 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 34,100 | 34,000 | 34,200 | – 150 | 34,600 | 34,300 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 31,500 | 31,400 | 31,600 | – 100 | 31,600 | 31,600 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 30,600 | 30,500 | 30,700 | – 150 | 30,800 | 30,800 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 30,800 | 30,700 | 30,900 | 0 | 31,100 | 31,400 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 32,850 | 32,800 | 32,900 | – 50 | 32,700 | 33,500 | |
| Billet | Ex-Mandi Gobindgarh | 100×100 mm, IS 2831 | 34,500 | 34,400 | 34,600 | – 200 | 35,000 | 34,600 |
| Ex-Durgapur | 100×100 mm, IS 2831 | 31,800 | 31,700 | 31,900 | – 200 | 32,000 | 32,000 | |
| Ex-Rourkela | 100×100 mm, IS 2831 | 30,900 | 30,800 | 31,000 | – 200 | 31,200 | 31,000 | |
| Ex-Raipur | 100×100 mm, IS 2831 | 31,400 | 31,300 | 31,500 | – 50 | 31,800 | 31,850 | |
| Ex-Ahmedabad | 100×100 mm, IS 2831 | 33,700 | 33,600 | 33,800 | 0 | 33,250 | 34,400 | |
| Ex-Mumbai | 100×100 mm, IS 2831 | 33,100 | 33,000 | 33,200 | 0 | 32,900 | 33,700 | |
| Ex-Chennai | 100×100 mm, IS 2831 | 33,000 | 32,900 | 33,100 | – 200 | 33,200 | 32,350 | |
| Ex-Hyderabad | 100×100 mm, IS 2831 | 32,300 | 32,000 | 32,500 | – 200 | 33,000 | 33,000 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 37,800 | 37,700 | 38,000 | – 200 | 38,000 | 37,500 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 37,100 | 36,900 | 37,300 | – 400 | 37,200 | 37,000 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 35,700 | 35,600 | 35,800 | – 200 | 36,000 | 36,100 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 36,700 | 36,500 | 36,900 | – 200 | 36,900 | 37,200 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 37,800 | 37,600 | 38,000 | 0 | 37,900 | 37,500 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 36,000 | 35,800 | 36,200 | – 200 | 36,500 | 36,500 | |
| Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 37,200 | 36,800 | 37,800 | – 200 | 37,500 | 37,100 |
| Ex-Raipur | Wire Rod(5.5 MM) | 37,900 | 36,600 | 37,900 | – 500 | 38,500 | 38,200 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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