Indian steel market observed further drop in prices in line with weak demand and strong supply. As per assessment the prices fell in the range of INR 100-700/MT, day on day, through the mid sized mills.
The sharp fall in Billet prices observed in North & Eastern region by INR 600-700/MT, while prices in remaining markets slump by INR 100-400/MT as against last day assessment.
Similarly, Sponge iron prices declined by INR 200-500/MT across regions following drop in Billet prices.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 28,000-32,000/MT (USD 403-461) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 16,700-17,500/MT (USD 240-252); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 20th June 2019 (Wednesday) INR to USD exchange rate stood at INR 69.40.
— ICEX (Indian Commodity Exchange Ltd) Jul’19 contract for STEELLONG today open at INR 31,500/MT & last traded (IST 18:24) at INR 31,110/MT.
— BSE Sensex closed at 39,601(+488) on Wednesday, as against last day (Wednesday) at 39,112(+66).
— NSE Nifty50 index was closed today at 11,831(+140) & Nifty Metal at 2,940(+53).
Raw Materials
— JSW Steel’s iron ore purchases from Karnataka e-auctions decreased sharply by 50% to 1.08 MnT in May’19 compared to 2.18 MnT in Apr’19.
— Iron ore dispatches from Chhattisgarh recorded at 2.18 MnT iron ore in May’19, up 30% as against 1.68 MnT in Apr’19.
— Melting scrap offers in Western India- Gujarat decline by INR 500/MT in a day trade activities.
Semi Finished
— State-run Vizag Steel also known as Rashtriya Ispat Nigam Ltd (RINL) has concluded its Billet export tender to Nepal at around USD 435/MT ex-mill.
— Raipur based Sponge producers have quoted P-DRI at INR 16,500-16,600/MT, however deals learned at around INR 16,300/MT as competitive offers being quoted from Raigarh at INR 16,300/MT FoR Raipur.
— Odisha based manufacturer, KJS Ahluwalia offered billet at INR 28,300-28,400/MT ex-plant. And also offering FeM 80 Sponge mix material at INR 17,000/MT ex-plant.
— Odisha based manufacturer, Ganesh Metaliks offered Billet at INR 29,300/MT ex-plant, an official reported.
— Shri Hari Sponge, an Odisha based plant offered FeM 80 sponge mix material at INR 17,000/MT ex-plant. However as per participants no major buyers at this prices.
— BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 17,100/MT ex-Bellary, an official reported.
— South India (Telangana) based Cauvery Iron & Steel offers FeM 80 P-DRI & Billet at INR 17,500/MT & INR 29,500/MT. Also offering 12 mm Rebar at INR 33,000/MT. All prices are ex-plant & excluding GST.
Wire Rod & Pipe
— Trade discounts in Raipur Wire rod slightly increased at INR 1,500-1,700/MT with fall in base price by INR 300/MT to INR 35,400/MT ex-plant. Similarly in Durgapur where trade reference prices drop by INR 300-500/MT to INR 33,700-34,200/MT ex-plant.
— Mandi Gobindgarh, North India based ERW pipe manufacturers offers reported at around INR 38,600/MT ex-plant & excluding GST.
— Raipur, Central India based ERW pipe manufacturers offers reported at around INR 36,000/MT ex-plant & excluding GST. Offers decline by INR 400/MT D-o-D.
Rebar (12 mm)
— Rathi Steels based in North region current offering around INR 36,600/MT (ex-Delhi).
— Raipur based – SPEED TMT has unchanged their offers at INR 33,700/MT
— Real Ispat (GK TMT) is offering at INR 36,000/MT (down by INR 300/MT).
— Raigarh based Anjani Steels Ltd. (Radhe TMT) is offering at INR 34,100/MT (down by INR 100/MT)
— Gujarat based Shreeyam Power & Steel Industries Ltd. (National TMT) is offering at INR 35,500/MT FoR.
— Jalna based Bhagyalaxmi Rolling Mill Pvt Ltd (Polaad TMT) is offering at INR 34,900/MT(down by INR 600/MT).
— Jalna based SRJ Peety Steels Pvt Ltd (Shree Om) is offering at INR 35,000/MT (down by INR 100/MT).
— Chennai based Sakthi Ferro Alloys India Pvt. Ltd. (SSI TMT) is offering at INR 36,000/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 20th June 2019
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 24,900 | 24,800 | 25,000 | – 500 | NA | 26,300 |
| Ex-Mumbai | HMS(80:20) | 23,700 | 23,600 | 23,800 | – 200 | 24,400 | 25,000 | |
| Ex-Chennai | HMS(80:20) | 22,400 | 22,300 | 22,500 | 0 | 23,100 | 23,600 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 17,400 | 17,300 | 17,500 | – 400 | 18,300 | 19,800 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 17,100 | 17,000 | 17,200 | – 500 | 18,000 | 19,100 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 17,300 | 17,200 | 17,400 | – 300 | 18,200 | 20,000 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 17,500 | 17,400 | 17,600 | – 200 | 18,100 | 19,300 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 16,400 | 16,300 | 16,500 | – 400 | 17,300 | 18,600 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 16,300 | 16,200 | 16,400 | – 200 | 17,050 | 18,900 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 17,000 | 17,000 | 17,100 | – 100 | 17,500 | 19,000 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 17,500 | 17,400 | 17,600 | – 300 | 18,100 | 19,400 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 31,800 | 31,700 | 31,900 | – 700 | 32,850 | 34,400 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 28,800 | 28,700 | 28,900 | – 200 | 29,600 | 31,500 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 27,600 | 27,500 | 27,700 | – 600 | 28,900 | 30,500 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 27,800 | 27,700 | 27,900 | – 700 | 29,100 | 31,000 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 30,000 | 29,900 | 30,100 | – 350 | 31,200 | 32,500 | |
| Billet | Ex-Mandi Gobindgarh | 100×100 mm, IS 2831 | 32,000 | 31,900 | 32,100 | – 700 | 33,200 | 34,700 |
| Ex-Durgapur | 100×100 mm, IS 2831 | 29,200 | 29,100 | 29,300 | – 300 | 30,000 | 32,000 | |
| Ex-Rourkela | 100×100 mm, IS 2831 | 28,100 | 28,000 | 28,200 | – 600 | 29,200 | 30,950 | |
| Ex-Raipur | 100×100 mm, IS 2831 | 28,500 | 28,400 | 28,600 | – 500 | 29,600 | 31,700 | |
| Ex-Ahmedabad | 100×100 mm, IS 2831 | 31,100 | 31,000 | 31,200 | – 400 | 32,300 | 33,000 | |
| Ex-Mumbai | 100×100 mm, IS 2831 | 30,200 | 30,100 | 30,300 | – 350 | 31,400 | 32,750 | |
| Ex-Chennai | 100×100 mm, IS 2831 | 30,150 | 30,100 | 30,200 | – 50 | 30,800 | 32,300 | |
| Ex-Hyderabad | 100×100 mm, IS 2831 | 29,300 | 29,300 | 29,500 | – 400 | 30,000 | 32,500 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 36,200 | 36,000 | 36,400 | – 300 | 37,000 | 38,000 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 34,100 | 33,900 | 34,300 | – 500 | 35,100 | 37,300 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 33,400 | 33,300 | 33,600 | – 200 | 34,000 | 35,400 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 33,400 | 33,300 | 33,600 | – 300 | 34,300 | 35,800 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 35,500 | 35,300 | 35,700 | – 200 | 35,900 | 36,900 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 33,200 | 33,000 | 33,400 | – 300 | 34,000 | 36,200 | |
| Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 33,900 | 33,700 | 34,200 | – 400 | 35,000 | 37,700 |
| Ex-Raipur | Wire Rod(5.5 MM) | 34,600 | 33,800 | 35,400 | – 300 | 35,500 | 37,200 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
Leave a Reply