Indian Billet & Sponge iron prices recover after a constant drop since couple of weeks. The participants in Central & Eastern regions reported, improved spot trades, hence there was slight rise in price range by INR 100-300/MT today, through the mid sized mills.
In line Finished steel – Rebar & Wire rod offers marginally fluctuated as there are sufficient inventory with the mills, specifically in Central & Eastern India.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 29,500-33,500/MT (USD 425-483) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 18,000-18,500/MT (USD 256-267); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 12th June 2019 (Wednesday) INR to USD exchange rate stood at INR 69.35.
— ICEX (Indian Commodity Exchange Ltd) Jul’19 contract for STEELLONG today open at INR 32,560/MT & last traded (IST 18:48) at INR 32,610/MT.
— BSE Sensex closed at 39,756(-193) on Wednesday, as against last day (Tuesday) at 39,950(+165).
— NSE Nifty50 index was closed today at 11,906(-59) & Nifty Metal at 2,962(+11).
RAW-MATERIAL
— Chinese mills raise bids for Indian pellets; deals reported. An Odisha based pellet maker is learned to have concluded 50,000 MT export deal to China (Fe 64%, 3% Al grade) at around USD 115-116/MT, FoB basis which is equivalent to USD 125-126/MT, CFR China.
— Australia’s premium hard coking coal prices have been on a consistent downward and drop in recent by USD 2.50/MT to USD 211.50/MT CNF India.
— Alang based in Gujarat, Western India – one of the largest ships breaking yard in the world has been ordered to halt activities as per recent order by Govt. amid cyclonic storm ‘Vayu.
SEMI-FINISHED
— Neelachal Ispat Nigam Limited (NINL) – India’s largest pig iron manufacturer & exporter has reduced its steel grade pig iron prices by INR 500/MT (USD 7) & latest offers for steel grade pig iron floated at INR 26,900/MT (USD 382), ex-plant, Cuttack, Odisha (eastern India).
— Jindal Steel has reduced prices by INR 300/MT and offering steel grade pig iron at INR 27,800/MT ex-Raigarh & panther shots (granulated pig iron) at INR 26,700/MT ex-Angul, Odisha. As per officals more than 3,000 MT pig iron sold at revised price range.
— Atibir Industries has kept offers unchanged and reported steel grade pig iron at INR 27,900-28,400/MT ex-Giridih, Jharkhand.
— The Sponge P-DRI manufacturers in Raipur have raised prices by around INR 200/MT to INR 17,300-17,400/MT and as per participants healthy deals concluded.
— Rashmi Metaliks in Durgapur has slightly raised Sponge P-DRI prices and offers through the sources reported at INR 17,500/MT.
— Hare Krishna, a 300 TPD sponge manufacturer in Bellary, Karnataka has offered FeM 82 C-DRI at INR 18,600-18,800/MT ex-plant, an official reported.
— Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 18,200/MT & Billet at INR 29,300/MT ex-plant.
— Hyderabad (South India) based manufacturer Mahalakshmi Profiles Pvt. Ltd (MPL) has offered ERW Pipe at INR 39,300/MT ex-plant. (basic & excluding GST).
PIPE & WIRE-ROD
— Mandi Gobindgarh, North India based ERW pipe manufacturers offer reported at around INR 39,400/MT ex-plant & excluding GST. Offers down by INR 200/MT D-o-D.
— Trade discounts in Raipur Wire rod (5.5mm) unaltered at INR 1,300-1,500/MT amid steady base price at INR 36,300/MT ex-plant. Similarly in Durgapur, where trade reference prices are same as last day at INR 35,200-35,800/MT ex-plant.
Reference prices as on 12th June 2019
| Products | Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M |
| Scrap | Ex-Mumbai | HMS(80:20) | 24,500 | 24,500 | 24,700 | -100 | 24,900 | 24,900 |
| Ex-Chennai | HMS(80:20) | 23,100 | 23,000 | 23,300 | -200 | 23,400 | 23,500 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 18,500 | 18,400 | 18,600 | +50 | 19,400 | 18,700 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 18,100 | 18,000 | 18,200 | 0 | 18,500 | 18,500 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 18,400 | 18,300 | 18,500 | 0 | 19,300 | 19,400 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 18,300 | 18,200 | 18,400 | -100 | 19,000 | 18,800 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 17,500 | 17,400 | 17,600 | +50 | 18,400 | 17,500 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 17,300 | 17,200 | 17,400 | +100 | 18,100 | 18,300 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 17,800 | 17,700 | 17,900 | -100 | 18,600 | 18,300 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 18,300 | 18,200 | 18,400 | -100 | 19,100 | 18,900 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 33,100 | 33,000 | 33,200 | +100 | 34,000 | 33,550 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 30,000 | 29,900 | 30,100 | 0 | 31,000 | 30,800 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 29,100 | 29,000 | 29,200 | +200 | 30,000 | 30,000 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 29,300 | 29,200 | 29,400 | +300 | 30,300 | 30,300 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 31,200 | 31,100 | 31,300 | -200 | 31,650 | 32,400 | |
| Billet | Ex-Mandi Gobindgarh | 100×100 mm, IS 2831 | 33,500 | 33,400 | 33,600 | 0 | 34,400 | 33,800 |
| Ex-Durgapur | 100×100 mm, IS 2831 | 30,500 | 30,400 | 30,600 | 0 | 31,400 | 31,300 | |
| Ex-Rourkela | 100×100 mm, IS 2831 | 29,500 | 29,400 | 29,600 | +50 | 30,500 | 30,300 | |
| Ex-Raipur | 100×100 mm, IS 2831 | 30,100 | 30,000 | 30,200 | +400 | 31,000 | 30,900 | |
| Ex-Ahmedabad | 100×100 mm, IS 2831 | 32,400 | 32,300 | 32,500 | +250 | 32,700 | 31,700 | |
| Ex-Mumbai | 100×100 mm, IS 2831 | 31,450 | 31,400 | 31,500 | -150 | 31,900 | 32,600 | |
| Ex-Chennai | 100×100 mm, IS 2831 | 30,800 | 30,700 | 30,900 | – 200 | 31,500 | 31,500 | |
| Ex-Hyderabad | 100×100 mm, IS 2831 | 30,000 | 29,900 | 30,100 | -400 | 31,500 | 31,500 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 37,000 | 36,900 | 37,200 | 0 | 37,400 | 37,000 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 35,300 | 35,100 | 35,500 | 0 | 36,300 | 36,300 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 34,100 | 34,000 | 34,300 | +100 | 34,900 | 34,900 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 34,300 | 34,200 | 34,500 | 0 | 34,800 | 35,900 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 35,900 | 35,800 | 36,100 | – 100 | 36,400 | 37,000 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 34,300 | 34,200 | 34,500 | 0 | 36,400 | 37,000 | |
| Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 35,500 | 35,200 | 35,800 | 0 | 36,500 | 36,700 |
| Ex-Raipur | Wire Rod(5.5 MM) | 35,500 | 34,800 | 36,300 | 0 | 36,300 | 37,200 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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