Indian steel prices in a free-fall mode amidst rising stock with the mid sized mills due to limited spot trades.
As per daily assessment, the Billet & Sponge iron prices fell by INR 100-500/MT, meanwhile Rebar prices down by INR 100-300/MT.
The prices sharply drop in Central India by INR 300-500/MT, while in rest of regions it plunge by INR 100-200/MT, day on day.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 28,700-32,700/MT (USD 411-469) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 17,100-18,000/MT (USD 245-258); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 18th June 2019 (Tuesday) INR to USD exchange rate stood at INR 69.66.
— ICEX (Indian Commodity Exchange Ltd) Jul’19 contract for STEELLONG today open at INR 32,400/MT & last traded (IST 18:22) at INR 32,200/MT.
— BSE Sensex closed at 39,046(+85) on Tuesday, as against last day (Monday) at 38,960(-491).
— NSE Nifty50 index was closed today at 11,691(+19) & Nifty Metal at 2,874(+14).
Raw Materials
— East India based pellet maker Brahmani River Pellets Ltd (BRPL) has recently concluded export deal to China for 50,000 MT pellet (Fe 64% and 3% Al) at around USD 131/MT, CFR China.
— Melting scrap offers in Western India- Gujarat decline by INR 300/MT in a day trade activities.
Semi Finished
— Neo Metaliks in Durgapur is offering steel grade pig iron at INR 27,300-27,500/MT ex-plant.
— SAIL has floated export tender for prime mild steel non-alloy concast blooms of 10,800-13,500 MT. The last date for bid submission is 19 Jun’19.
— Rashmi Metaliks in Durgapur, known as price trend setter, has offered Sponge P-DRI at INR 17,000-17,100/MT – Sources.
— Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 17,800/MT & Billet at INR 28,800/MT ex-plant.
— BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 17,300/MT ex-Bellary, offers decline by INR 200/MT from the last trade; an official reported.
— BIOP Steels in South India has decreased sponge prices by INR 200/MT, offering FeM 80 & 82 C-DRI lumps at INR 18,000/MT & INR 18,300/MT ex-plant, Karnataka; an official reported.
Wire Rod & Pipe
— Trade discounts in Raipur Wire rod slightly increased by INR 100/MT to INR 1,400-1,600/MT amid reduce base price by INR 300/MT to INR 35,700/MT ex-plant. Meanwhile in Durgapur also trade reference price fell by INR 200-300/MT to INR 34,300-34,800/MT ex-plant.
— Raipur, Central India based ERW pipe manufacturers offers reported at around INR 36,400/MT ex-plant & excluding GST.
— Mandi Gobindgarh, North India based ERW pipe manufacturers offers reported at around INR 39,000/MT ex-plant & excluding GST.
Rebar (12 mm)
— Rathi Steels based in North region is offering at around INR 37,300/MT (ex-Delhi).
— Raipur based – SPEED TMT is offering at INR 34,000/MT (down by INR 300/MT)..
— Raigarh based Anjani Steels Ltd. (Radhe TMT) currently offering at INR 34,200/MT(Down by INR 300/MT)
— Raigarh based Scan Group branding (Shrishti TMT) is offering at INR 34,300/MT.(Down by INR 300/MT)
— Gujarat based Shreeyam Power & Steel Industries Ltd. (National TMT) is offering at INR 35,700/MT FoR.
— Jalna based SRJ Peety Steels Pvt Ltd (Shree Om) is offering at INR 35,100/MT (down by INR 100/MT).
Note – Prices mentioned above are ex-work, excluding GST & changes are placed on day basis. Prices are subject to reconfirmation.
Reference prices as on 18th June 2019
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 25,600 | 25,500 | 25,700 | – 300 | 25,700 | 26,200 |
| Ex-Mumbai | HMS(80:20) | 24,300 | 24,200 | 24,400 | – 100 | 24,600 | 25,100 | |
| Ex-Chennai | HMS(80:20) | 22,400 | 22,300 | 22,500 | – 100 | 23,300 | 23,600 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 17,950 | 17,900 | 18,000 | – 150 | 18,450 | 19,700 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 17,600 | 17,500 | 17,700 | – 200 | 18,100 | 19,000 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 17,800 | 17,700 | 17,900 | – 200 | 18,400 | 19,900 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 17,800 | 17,700 | 17,900 | – 100 | 18,400 | 19,100 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 16,950 | 16,900 | 17,000 | – 150 | 17,450 | 18,600 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 16,700 | 16,600 | 16,800 | – 200 | 17,200 | 18,900 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 17,300 | 17,200 | 17,400 | – 100 | 17,900 | 18,600 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 17,900 | 17,800 | 18,000 | – 100 | 18,400 | 19,100 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 32,500 | 32,500 | 32,600 | – 300 | 33,000 | 34,550 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 29,300 | 29,200 | 29,400 | – 200 | 30,000 | 31,700 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 28,300 | 28,200 | 28,400 | – 500 | 28,900 | 30,700 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 28,600 | 28,500 | 28,700 | – 350 | 29,000 | 31,100 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 30,500 | 30,400 | 30,600 | – 400 | 31,400 | 32,600 | |
| Billet | Ex-Mandi Gobindgarh | 100×100 mm, IS 2831 | 32,700 | 32,600 | 32,800 | – 400 | 33,500 | 34,900 |
| Ex-Durgapur | 100×100 mm, IS 2831 | 29,800 | 29,700 | 29,900 | – 200 | 30,500 | 32,200 | |
| Ex-Rourkela | 100×100 mm, IS 2831 | 28,700 | 28,600 | 28,800 | – 450 | 29,450 | 31,050 | |
| Ex-Raipur | 100×100 mm, IS 2831 | 29,200 | 29,100 | 29,300 | – 350 | 29,700 | 31,800 | |
| Ex-Ahmedabad | 100×100 mm, IS 2831 | 31,850 | 31,800 | 31,900 | – 250 | 32,150 | 33,200 | |
| Ex-Mumbai | 100×100 mm, IS 2831 | 30,700 | 30,600 | 30,800 | – 400 | 31,600 | 33,000 | |
| Ex-Chennai | 100×100 mm, IS 2831 | 30,300 | 30,200 | 30,400 | 0 | 31,000 | 32,000 | |
| Ex-Hyderabad | 100×100 mm, IS 2831 | 29,800 | 29,800 | 30,000 | – 200 | 30,400 | 32,300 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 36,600 | 36,400 | 36,800 | – 200 | 37,000 | 37,800 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 34,600 | 34,400 | 34,800 | 0 | 35,300 | 37,100 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 33,800 | 33,700 | 34,000 | – 200 | 34,000 | 35,400 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 33,900 | 33,800 | 34,100 | – 100 | 34,300 | 35,900 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 35,700 | 35,600 | 35,900 | – 100 | 36,000 | 36,900 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 34,000 | 33,800 | 34,200 | 0 | 34,300 | 36,000 | |
| Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 34,500 | 34,300 | 34,800 | – 100 | 35,500 | 37,500 |
| Ex-Raipur | Wire Rod(5.5 MM) | 34,900 | 34,200 | 35,700 | – 300 | 35,500 | 37,200 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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