Indian spot steel trade activities remain on average basis as prices slightly gain by INR 100-300/MT today, which was down in same proportion last day i.e. 22nd Apr’19.
The participants believed that, prices to remain volatile as bulk bookings still on wait & watch mode by users-end and raw materials are more or less firm in domestic market.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 31,000-34,500/MT (USD 444-495) 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 23rd April 2019 (Tuesday) INR to USD exchange rate stood at INR 69.67.
— ICEX (Indian Commodity Exchange Ltd) May’19 contract for STEELLONG today open at INR 34,020/MT & last traded (IST 18:05) at INR 33,910/MT.
— BSE Sensex closed at 38,564(-80) on Tuesday, as against last day (Monday) at 38,645(-495).
— NSE Nifty50 index was closed today at 11,575(-18).
Raw Materials
— As per SteelMint’s analysis, iron ore movement across major producing states of the country recorded at 129.5 MnT (excluding exports) in FY’19, surge 4% as against 124.1 MnT in FY’18
— NMDC sold 9.23 MnT iron ore via Karnataka e-auctions in FY19, less by 30% Y-o-Y.
— In Durgapur (eastern India) reference pellet price assessment stands at INR 5,800-5,900/MT (delivered) this week against last week’s assessment INR 5,600-5,700/MT.
— Rungta Mines has increased iron ore fines prices by INR 200/MT with effect from 20th April 2019. SteelMint has learned from the sources that after recent price hike, Fe 63% fines at around INR 2,700-2,800/MT (loaded to wagons, including Royalty, DMF & NMET).
Semi Finished
— Jharkhand Ispat has reduced sponge prices by INR 200/MT and reported Sponge C-DRI (60:40) at INR 19,300/MT & 100% lumps at INR 19,600/MT. Meanwhile Sponge P-DRI offers being fall to INR 18,300/MT ex-plant, Ramgarh.
— Indian sponge iron export offers fall by USD 5/MT, price assessment for 80 FeM sponge lumps are at USD 310-315/MT CPT Benapole (dry land port of Bangladesh & India) and USD 330/MT CNF Chittagong, Bangladesh.
— Rashmi Metaliks in Durgapur, known as price trend setter, has offered Sponge P-DRI at INR 18,600-18,700/MT – Sources.
— Raipur, Central India based Integrated plants offers increased by INR 100-200/MT, offering Sponge P-DRI at INR 18,600-18,800/MT & Sponge DR CLO grade at INR 20,600-20,800/MT ex-plant.
— Apple Industries in Bellary (Karnataka) offered Sponge FeM 83+ P-DRI lump at INR 20,300/MT & Billet at INR 32,100-32,200/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 19,700/MT & 20,100/MT ex-plant, Karnataka; an official reported.
Wire Rod & Pipe
— As per mid sized Wire rod mills in Durgapur inventories slightly increased with them, hence dealing with less price by INR 200-300/MT than the floated offers. The offers have reported at INR 37,000-37,800/MT ex-plant.
— Trade discounts in Raipur Wire rod similar to last day (22nd Apr) at INR 800-1,000/MT. Also basic prices kept firm at INR 37,900/MT for Wire rod & INR 40,300/MT for HB Wire (ex-plant).
— Mandi Gobindgarh, North India based ERW pipe manufacturers offers reported at around INR 40,300/MT ex-plant & excluding GST.
Rebar (12 mm)
— Rathi Steels based in North region is offering at around INR 38,900/MT (ex-Delhi).
— Raipur based – SPEED TMT is currently offering at INR 35,900/MT (up by INR 100/MT).
— Real Ispat (GK TMT) has unchanged their offers at INR 38,000/MT.
— Jalna based SRJ Peety Steels Pvt Ltd (Shree Om) is currently offering at INR 37,400/MT.
— Mumbai based Vistar Metal Ind. Pvt. Ltd. (Vistar TMT) is offering at INR 37,300/MT (up by INR 200/MT).
— J.R. Metal Chennai Ltd. (JR TMT) is currently offering at INR 38,200/MT.
Note – Prices mentioned above are ex-work, excluding GST & changes are placed on day basis.
Reference prices as on 23rd 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 | 0 | 26,100 | 26,100 |
| Ex-Mumbai | HMS(80:20) | 24,900 | 24,800 | 25,100 | + 100 | 25,200 | 25,000 | |
| Ex-Chennai | HMS(80:20) | 24,400 | 24,200 | 24,600 | 0 | 24,600 | 24,500 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 19,900 | 19,800 | 20,000 | 0 | 20,400 | 20,100 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 18,700 | 18,600 | 18,800 | 0 | 18,800 | 18,800 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 19,600 | 19,500 | 19,700 | + 100 | 19,900 | 19,900 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,600 | 19,500 | 19,700 | 0 | 19,900 | 19,100 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 18,600 | 18,500 | 18,700 | 0 | 19,100 | 18,800 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 18,600 | 18,500 | 18,700 | + 100 | 18,700 | 18,600 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,300 | 19,200 | 19,400 | 0 | 19,500 | 18,700 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 19,700 | 19,600 | 19,800 | 0 | 20,000 | 19,000 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 34,100 | 34,000 | 34,200 | 0 | 34,500 | 34,050 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 31,350 | 31,300 | 31,400 | – 150 | 31,600 | 31,400 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 30,700 | 30,600 | 30,800 | + 100 | 31,000 | 30,600 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 30,900 | 30,800 | 31,000 | + 100 | 31,000 | 31,000 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 33,100 | 33,100 | 33,200 | + 250 | 32,750 | 33,300 | |
| Billet | Ex-Mandi Gobindgarh | 100×100 mm, IS 2831 | 34,500 | 34,400 | 34,600 | 0 | 34,900 | 34,400 |
| Ex-Durgapur | 100×100 mm, IS 2831 | 31,650 | 31,600 | 31,700 | – 150 | 32,000 | 31,800 | |
| Ex-Rourkela | 100×100 mm, IS 2831 | 31,000 | 30,900 | 31,100 | + 100 | 31,200 | 30,900 | |
| Ex-Raipur | 100×100 mm, IS 2831 | 31,500 | 31,400 | 31,600 | + 100 | 31,700 | 31,500 | |
| Ex-Ahmedabad | 100×100 mm, IS 2831 | 33,700 | 33,600 | 33,800 | 0 | 33,300 | 34,200 | |
| Ex-Mumbai | 100×100 mm, IS 2831 | 33,300 | 33,300 | 33,400 | + 200 | 33,000 | 33,500 | |
| Ex-Chennai | 100×100 mm, IS 2831 | 33,200 | 33,100 | 33,300 | + 200 | 33,200 | 32,200 | |
| Ex-Hyderabad | 100×100 mm, IS 2831 | 32,500 | 32,400 | 32,600 | + 200 | 33,000 | 32,500 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 37,900 | 37,700 | 38,100 | + 100 | 38,200 | 37,700 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 37,100 | 36,900 | 37,300 | 0 | 37,400 | 36,700 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 35,800 | 35,700 | 36,000 | + 100 | 36,000 | 36,000 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 36,900 | 36,700 | 39,100 | + 200 | 36,900 | 37,200 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 37,900 | 37,700 | 38,100 | + 100 | 37,800 | 37,500 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 36,200 | 36,000 | 36,400 | + 200 | 36,700 | 36,000 | |
| Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 37,200 | 36,800 | 37,800 | 0 | 37,600 | 36,900 |
| Ex-Raipur | Wire Rod(5.5 MM) | 37,900 | 37,000 | 37,900 | 0 | 38,700 | 38,200 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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