Indian steel prices drop further on account of limited spot trades and rising stock with the mid sized mills. On daily assessment, the Rebar prices plunged by INR 100-500/MT, Billet by INR 100-300/MT & Sponge iron by INR 100-200/MT.
The sharp reduction in Rebar prices marked in Hyderabad by INR 500/MT (USD 7), while in remaining markets the prices dropped by INR 100-300/MT, day on day.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 28,400-32,700/MT (USD 407-469) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 17,100-17,800/MT (USD 245-255); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 19th June 2019 (Wednesday) INR to USD exchange rate stood at INR 69.67.
— ICEX (Indian Commodity Exchange Ltd) Jul’19 contract for STEELLONG today open at INR 32,230/MT & last traded (IST 18:20) at INR 31,840/MT.
— BSE Sensex closed at 39,112(+66) on Wednesday, as against last day (Tuesday) at 39,046(+85).
— NSE Nifty50 index was closed today at 11,691(0) & Nifty Metal at 2,886(+11).
Raw Materials
— NMDC iron ore production in May’19 recorded at 3.04 MnT up 5% as against 2.9 MnT in Apr’19.
— Bhushan Power & Steel has recorded iron ore sourcing at 0.22 MnT in May’19, witnessed fall of 25% as against 0.29 MnT in Apr’19.
— JSW Steel’s iron ore purchases from Karnataka e-auctions dropped to 1.08 MnT in May’19 as against 2.18 MnT in Apr’19.
— Imported scrap offers to India for HMS (80:20) Europe origin containers stood at around USD 303/MT, CFR Nhava Sheva.
— Melting scrap offers in Western India- Jalna (Maharashtra) decline by INR 300/MT in a day trade activities.
Semi Finished
— MMTC has floated export tender of 30,000 MT non-alloy Pig Iron on behalf of NINL. The due date for submission of bids is 14:30 hrs on 02 Jul’19.
— Jindal Steel is offering steel grade pig iron at INR 27,500/MT & panther shots (granulated pig iron) at INR 26,200/MT ex-Angul, Odisha. The prices down by INR 200-300/MT in last couple of days.
— As per officials from Electrosteels fresh deals concluded for steel grade pig iron at around INR 27,200/MT ex-plant, Bokaro, Jharkhand.
— Raipur based sponge plants have offered P-DRI at INR 16,600-16,700/MT, however few deals learned at INR 16,400-16,500/MT ex-plant.
— Rashmi Metaliks in Durgapur has slightly reduced Sponge P-DRI prices and reported at INR 17,000/MT, although no majors deals learned from participants due to falling Billet prices in the market.
— Induction grade Billet (100*100 mm) export offers fall further and reported for Nepal at around USD 420/MT ex-mill. Meanwhile no deals at this offers, as reported by sources.
— Central India, Raigarh based sponge manufacturer (900 TPD) has concluded a deal of CDRI mix material(0-20) at INR 17,500-17,700/MT FoR Raipur.
— East India, Odisha based manufacturer, Mahavir Ferro Alloys offered Billet & C-DRI mix material at INR 28,800/MT & INR 17,800/MT ex-plant as per officials.
— Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 17,700/MT & Billet at INR 28,700/MT ex-plant.
— BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 17,100/MT ex-Bellary, offers decline by INR 200/MT from the last trade; an official reported.
— Hare Krishna, a 300 TPD sponge manufacturer in Bellary, Karnataka has offered FeM 79-80 P-DRI at INR 17,400/MT ex-plant, an official reported. However as per participant very few buyers at this prices
Wire Rod & Pipe
— Trade discounts in Raipur Wire rod is hovering same as against last day at INR 1,400-1,600/MT amid steady base price at INR 35,700/MT ex-plant.
— Raipur, Central India based ERW pipe manufacturers offers reported at around INR 36,400/MT ex-plant & excluding GST.
Rebar (12 mm)
— Raipur based – SPEED TMT is offering at INR 33,700/MT (down by INR 300/MT).
— Real Ispat (GK TMT) has unaltered their offers at INR 36,300/MT.
— Raigarh based Scan Group branding (Shrishti TMT) is offering at INR 34,000/MT (down by INR 300/MT).
— Gujarat based Akshar Ispat Ltd. (Akshat TMT) is offering at INR 35,500/MT FoR.
— Jalna based Bhagyalaxmi Rolling Mill Pvt Ltd (Polaad TMT) has unchanged their offers at INR 35,500/MT.
— Jalna based Kalika Steels Alloys Pvt. Ltd. (Kalika TMT) is offering at INR 35,300/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 19th June 2019
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 25,400 | 25,300 | 25,500 | – 200 | NA | 26,400 |
| Ex-Mumbai | HMS(80:20) | 23,900 | 23,700 | 23,900 | – 400 | 24,500 | 25,000 | |
| Ex-Chennai | HMS(80:20) | 22,400 | 22,300 | 22,500 | 0 | 23,100 | 23,500 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 17,800 | 17,700 | 17,900 | – 150 | 18,500 | 19,800 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 17,600 | 17,500 | 17,700 | 0 | 18,100 | 19,100 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 17,600 | 17,500 | 17,700 | – 200 | 18,400 | 19,900 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 17,700 | 17,600 | 17,800 | – 100 | 18,300 | 19,200 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 16,800 | 16,700 | 16,900 | – 150 | 17,500 | 18,600 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 16,500 | 16,400 | 16,600 | – 200 | 17,300 | 19,000 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 17,100 | 17,000 | 17,200 | – 200 | 17,800 | 18,800 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 17,800 | 17,700 | 17,900 | – 100 | 18,300 | 19,200 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 32,500 | 32,400 | 32,600 | 0 | 33,100 | 34,400 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 29,000 | 28,900 | 29,100 | – 300 | 30,000 | 31,500 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 28,200 | 28,100 | 28,300 | – 100 | 29,100 | 30,650 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 28,500 | 28,400 | 28,600 | – 100 | 29,300 | 31,050 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 30,350 | 30,300 | 30,400 | – 150 | 31,200 | 32,500 | |
| Billet | Ex-Mandi Gobindgarh | 100×100 mm, IS 2831 | 32,700 | 32,600 | 32,800 | 0 | 33,500 | 34,800 |
| Ex-Durgapur | 100×100 mm, IS 2831 | 29,500 | 29,400 | 29,600 | – 300 | 30,500 | 32,000 | |
| Ex-Rourkela | 100×100 mm, IS 2831 | 28,700 | 28,600 | 28,800 | 0 | 29,500 | 31,100 | |
| Ex-Raipur | 100×100 mm, IS 2831 | 29,000 | 28,900 | 29,100 | – 200 | 30,100 | 31,700 | |
| Ex-Ahmedabad | 100×100 mm, IS 2831 | 31,500 | 31,400 | 31,600 | – 350 | 32,400 | 33,150 | |
| Ex-Mumbai | 100×100 mm, IS 2831 | 30,550 | 30,500 | 30,600 | – 150 | 31,450 | 32,800 | |
| Ex-Chennai | 100×100 mm, IS 2831 | 30,200 | 30,100 | 30,300 | – 100 | 30,800 | 31,850 | |
| Ex-Hyderabad | 100×100 mm, IS 2831 | 29,700 | 29,500 | 30,000 | – 100 | 30,000 | 32,000 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 36,500 | 36,300 | 36,700 | – 100 | 37,000 | 37,800 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 34,600 | 34,400 | 34,800 | 0 | 35,300 | 37,300 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 33,600 | 33,500 | 33,700 | – 200 | 34,100 | 35,400 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 33,700 | 33,600 | 33,900 | – 200 | 34,300 | 35,900 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 35,700 | 35,600 | 35,900 | 0 | 35,900 | 36,900 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 33,500 | 33,300 | 33,700 | – 500 | 34,300 | 36,000 | |
| Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 34,300 | 34,000 | 34,600 | – 200 | 35,500 | 37,700 |
| Ex-Raipur | Wire Rod(5.5 MM) | 34,900 | 34,100 | 35,700 | 0 | 35,500 | 37,200 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
Leave a Reply