Indian Billet prices slightly fluctuated by INR 100-300/MT on average trade inquiries amid less clarity in market directions whether the prevailing price range will sustain or may report sharp change in coming days.
However minor fall remains in Sponge iron & Rebar market on account of rising inventories and the prices moved down by INR 100-200/MT day on day, through the mid sized mills in major markets.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 30,600-34,500/MT (USD 437-493) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 18,700-19,600/MT (USD 267-280); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 10th May 2019 (Friday) INR to USD exchange rate stood at INR 70.0
— ICEX (Indian Commodity Exchange Ltd) Jun’19 contract for STEELLONG today open at INR 33,680/MT & last traded (IST 18:20) at INR 33,700/MT.
— BSE Sensex closed at 37,462(-95) on Friday, as against last day (Thursday) at 37,558(-230).
— NSE Nifty50 index was closed today at 11,278(-22).
Trade Updates – RAW MATERIALS
— — India’s Chrome Ore production in FY’19 recorded at 4,282,529MT, almost similar compared with previous year (FY18). Odisha contributes almost entirely towards Chrome ore production in India.
— Central India, Raipur based plants are trading Silicon Manganese(60-14) at around INR 65,500/MT on advance payment basis.
— As per a integrated plant in Raipur, they have sold close to 15,000 Pellets (Fe 63%) at INR 6,400/MT ex-plant & excluding GST.
SEMI FINISHED
— Indian Sponge iron(FeM 78-80, lumps grade) export offers to Bangladesh fell by USD 5/MT and stood at USD 300-305/MT CPT Benapole(dry port of India & Bangladesh), equivalent to USD 320/MT CNF Chittagong, Bangladesh.
— Integrated plants in Raipur have reduced sponge P-DRI prices by INR 100/MT to INR 18,600/MT, however buying interest was noticed at around INR 18,500/MT ex-plant.
— Rashmi Metaliks, one of the largest sponge supplier in Durgapur has maintained sponge P-DRI prices at around INR 17,600-17,700/MT.
— Pig iron prices in domestic market unaltered today, however buying inquiries weak as per Durgapur based manufacturers and offers reported at INR 27,800-28,200/MT ex-plant.
— Mid sized mills Billet export offers to Nepal reported at USD 445/MT ex-mill at Durgapur. Meanwhile it is being learned that couple of days ago traders sold Billet to Nepal at competitive price of USD 443-444/MT ex-mill (Durgapur), equivalent to USD 475-480/MT CNF Raxaul border, Nepal.
— Bhaskar Steel & Ferro Alloys in Odisha has offered Billet at INR 30,500/MT & C-DRI (FeM 80, mix material) at INR 18,700/MT ex-plant.
— BMM Ispat in Bellary, Karnataka has sold Sponge P-DRI at INR 18,500-18,600/MT ex-plant and as per officials healthy volumes booked. The plant known as price trend setter in South Indian sponge market.
WIRE ROD
— Trade discounts in Raipur Wire rod unaltered at INR 1,000-1,100/MT along with steady basic price at INR 37,700/MT ex-plant. However in Durgapur rising stock and falling billet prices has forced mills to cut prices by around INR 200/MT to INR 36,800-37,400/MT ex-plant.
— ERW Pipe prices in Raipur & Mandi Gobindgarh(Punjab) fell by INR 200/MT, however the Hyderabad based plants have keep prices firm against last day trades.
RE-BAR (12 mm)
— Rathi Steels based in North region current offering at around INR 38,200/MT (ex-Delhi).
— Raipur based – SPEED TMT is offering at INR 35,300/MT (down by INR 200/MT).
— Gujarat based Shreeyam Power & Steel Industries Ltd. (National TMT) is offering at INR 36,800/MT FoR (down by INR 200/MT).
— Jalna based Kalika Steels Alloys Pvt. Ltd. (Kalika TMT) is offering at INR 36,400/MT (down by INR 100/MT).
— Jalna based SRJ Peety Steels Pvt Ltd (Shree Om) is offering at INR 36,500/MT (down by INR 200/MT).
— Chennai based Ponneri Steel Ind. (Triple Power) is offering at INR 37,700/MT.
Note – the prices mentioned above are ex-work, excluding GST & changes are on day basis.
Reference prices as on 10th May 2019.
| Products | Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M |
| Scrap | Ex-Alang | HMS(80:20) | 26,000 | 25,900 | 26,100 | +300 | 26,400 | 26,000 |
| Ex-Mumbai | HMS(80:20) | 24,900 | 24,900 | 25,100 | -100 | 25,000 | 25,100 | |
| Ex-Chennai | HMS(80:20) | 23,700 | 23,600 | 23,900 | -200 | 24,200 | 24,600 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 18,800 | 18,700 | 18,900 | -100 | 19,300 | 20,300 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 18,700 | 18,600 | 18,800 | 0 | 18,900 | 18,700 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 19,600 | 19,500 | 19,700 | 0 | 20,000 | 19,500 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,000 | 18,900 | 19,100 | -100 | 19,100 | 19,700 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 17,600 | 17,500 | 17,700 | -100 | 18,100 | 19,100 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 18,500 | 18,400 | 18,600 | -100 | 19,100 | 185,500 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 18,600 | 18,500 | 18,700 | -100 | 18,800 | 19,400 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 19,200 | 19,100 | 19,300 | -100 | 19,200 | 19,700 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 34,100 | 34,000 | 34,200 | +100 | 34,500 | 34,400 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 31,200 | 31,100 | 31,300 | 0 | 31,500 | 31,500 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 30,200 | 30,100 | 30,300 | -200 | 30,800 | 30,600 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 30,600 | 30,500 | 30,700 | -100 | 31,150 | 30,850 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 32,500 | 32,400 | 32,600 | -100 | 33,100 | 32,800 | |
| Billet | Ex-Mandi Gobindgarh | 100×100 mm, IS 2831 | 34,500 | 34,400 | 34,600 | +100 | 34,900 | 34,700 |
| Ex-Durgapur | 100×100 mm, IS 2831 | 31,600 | 31,500 | 31,700 | +100 | 32,000 | 31,800 | |
| Ex-Rourkela | 100×100 mm, IS 2831 | 30,600 | 30,500 | 30,700 | -100 | 31,200 | 31,100 | |
| Ex-Raipur | 100×100 mm, IS 2831 | 31,300 | 31,200 | 31,400 | 0 | 31,900 | 31,400 | |
| Ex-Ahmedabad | 100×100 mm, IS 2831 | 32,000 | 31,900 | 32,100 | -300 | 33,100 | 33,500 | |
| Ex-Mumbai | 100×100 mm, IS 2831 | 32,750 | 32,700 | 32,900 | -50 | 33,300 | 33,000 | |
| Ex-Chennai | 100×100 mm, IS 2831 | 31,800 | 31,600 | 31,800 | -100 | 31,900 | 33,300 | |
| Ex-Hyderabad | 100×100 mm, IS 2831 | 32,000 | 31,900 | 32,100 | 0 | 32,000 | 33,000 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 37,200 | 37,100 | 37,400 | -300 | 37,700 | 38,300 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 36,500 | 36,300 | 36,700 | 0 | 37,000 | 37,200 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 35,200 | 35,100 | 35,300 | -100 | 35,500 | 36,200 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 36,000 | 35,800 | 36,300 | -200 | 36,800 | 36,900 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 37,200 | 37,200 | 37,500 | 0 | 37,300 | 38,000 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 35,700 | 35,500 | 35,900 | 0 | 35,800 | 36,500 | |
| Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 37,000 | 36,800 | 37,400 | -200 | 37,400 | 37,200 |
| Ex-Raipur | Wire Rod(5.5 MM) | 37,700 | 36,600 | 37,700 | 0 | 38,100 | 38,500 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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