Indian Steel prices drop further following limited inquiries and rising stock with the mid sized mills. As per assessment, the Semis & Finished long steel prices slump by IN 100-500/MT (upto USD 7), day on day.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 27,300-31,300/MT (USD 394-452) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 16,500-17,800/MT (USD 238-257); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 25th June 2019 (Wednesday) INR to USD exchange rate stood at INR 69.18.
— ICEX (Indian Commodity Exchange Ltd) Jul’19 contract for STEELLONG today open at INR 30,130/MT & last traded (IST 18:11) at INR 30,360/MT.
— BSE Sensex closed at 39,592(+157) on Wednesday, as against last day (Tuesday) at 39,434(+311).
— NSE Nifty50 index was closed today at 11,847(+51) & Nifty Metal at 3,022(+80).
Raw Materials
— An east India based pellet maker-JSPL has concluded pellet export deal to China for 50,000 MT pellet (Fe 64%, and 3% Al) at around USD 134-135/MT, CFR China for July shipment.
— South African RB2 (5500 NAR) coal offers are assessed at USD 51.43/MT on FoB basis & USD 64.43/MT CNF India.
— 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- Mumbai decline by INR 500/MT in a day trade activities.
Semi Finished
— TATA Metaliks Limited (TML) – known as the largest foundry grade pig iron manufacturer in eastern India has reduced foundry pig iron prices by INR 800/MT (USD 12) on 25th Jun’19 to INR 31,700/MT (USD 457), ex-plant, Kharagpur, eastern India.
— SAIL has invited an ocean export tender for 16,200 MT Prime Mild Steel Non-Alloy Concast billets (150*150 mm) from Durgapur Steel plant. The last date for bid submission is 28 Jun’19.
— Rashmi Metaliks in Durgapur reduces sponge P-DRI prices by INR 200/MT to INR 16,800/MT, as per sources.
— Atibir Industries in Durgapur further lower price range and reported steel grade pig iron at INR 26,500/MT ex-plant.
— Raipur based one of the major sponge producer has cuts price by INR 400/MT, following which mid size plants being down price range by INR 200/MT and deals learned at INR 16,000-16,200/MT ex-plant.
— Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 16,600/MT & Billet at INR 27,500/MT ex-plant.
— Odisha based manufacturer, KJS Ahluwalia offered billet & Fem 80 Sponge mix material at INR 27,500/MT & INR 16,500/MT ex-plant
— BIOP Steels in South India has offered FeM 80 & 82 C-DRI lumps at INR 17,500/MT & INR 17,900/MT ex-plant, Karnataka; an official reported.
— BMM Ispat a price trend setter in South Indian sponge market has kept offers unaltered today and offered FeM 80 P-DRI lumps at INR 16,800/MT ex-Bellary, Karnataka.
Wire Rod & Pipe
— Trade discount in Raipur Wire rod fall by INR 300/MT to INR 1,300-1,500/MT following declined base price by INR 400/MT to INR 34,500/MT ex-plant. Similarly in Durgapur where trade reference prices of Wire rod down by INR 300/MT to INR 33,000-33,600/MT ex-plant.
— Mandi Gobindgarh, North India based ERW pipe manufacturers offers reported at around INR 37,200/MT ex-plant & excluding GST. Offers decline by INR 400/MT D-o-D.
— Raipur, Central India based ERW pipe manufacturers offers reported at around INR 35,400/MT ex-plant & excluding GST. Offers decline by INR 400/MT D-o-D.
— Hyderabad (South India) based manufacturer Mahalakshmi Profiles Pvt. Ltd (MPL) has kept offers unaltered for ERW Pipe at INR 39,500/MT ex-plant. (basic & excluding GST).
Rebar (12 mm)
— Rathi Steels based in North region has unchanged their offer at INR 36,400/MT (ex-Delhi).
— Raipur based – SPEED TMT is offering at INR 32,600/MT (down by INR 200/MT).
— Real Ispat (GK TMT) is offering at INR 35,300/MT (down by INR 400/MT).
— Raigarh based N.R Ispat & Power Pvt. Ltd (N.R TMT) is offering at INR 32,600/MT.
— Raigarh based Anjani Steels Ltd. (Radhe TMT) is currently offering at INR 32,900/MT(down by INR 200/MT).
— Jalna based Bhagyalaxmi Rolling Mill Pvt Ltd (Polaad TMT) has unchanged their offers at INR 33,800/MT.
— Jalna based SRJ Peety Steels Pvt Ltd (Shree Om) is offering at INR 33,700/MT (down by INR 100/MT).
— Gujarat based Diamond TMT is currently offering at INR 34,700/MT.
— South region based Tulsyan NEC Steel (Tulsyan TMT) is current offering at INR 36,500/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 26th June 2019
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 23,400 | 23,300 | 23,500 | – 200 | 25,400 | 25,700 |
| Ex-Mumbai | HMS(80:20) | 22,500 | 22,300 | 22,700 | – 500 | 23,900 | 24,700 | |
| Ex-Chennai | HMS(80:20) | 22,100 | 22,000 | 22,300 | 0 | 22,400 | 23,700 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 17,750 | 17,700 | 17,800 | – 150 | 17,800 | 19,600 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 16,500 | 16,400 | 16,500 | – 400 | 17,600 | 18,800 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 17,200 | 17,100 | 17,300 | – 100 | 17,600 | 19,700 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 17,200 | 17,100 | 17,300 | – 100 | 17,700 | 19,000 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 16,750 | 16,700 | 16,800 | – 150 | 16,800 | 18,500 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 16,200 | 16,100 | 16,300 | – 200 | 16,500 | 18,650 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 16,700 | 16,600 | 16,800 | – 100 | 17,100 | 18,750 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 17,100 | 17,000 | 17,200 | – 200 | 17,800 | 19,300 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 31,100 | 31,000 | 31,200 | + 100 | 32,500 | 34,050 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 28,000 | 27,900 | 28,100 | – 400 | 29,000 | 31,300 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 27,000 | 26,900 | 27,100 | – 100 | 28,200 | 30,200 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 27,550 | 27,500 | 27,600 | – 100 | 28,500 | 30,750 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 29,350 | 29,300 | 29,400 | – 50 | 30,350 | 32,000 | |
| Billet | Ex-Mandi Gobindgarh | 100×100 mm, IS 2831 | 31,300 | 31,200 | 31,400 | + 100 | 32,700 | 34,500 |
| Ex-Durgapur | 100×100 mm, IS 2831 | 28,500 | 28,400 | 28,600 | – 400 | 29,500 | 31,700 | |
| Ex-Rourkela | 100×100 mm, IS 2831 | 27,350 | 27,300 | 27,400 | – 250 | 28,700 | 30,800 | |
| Ex-Raipur | 100×100 mm, IS 2831 | 28,200 | 28,100 | 28,300 | – 100 | 29,000 | 31,400 | |
| Ex-Ahmedabad | 100×100 mm, IS 2831 | 30,000 | 29,900 | 30,100 | – 100 | 31,500 | 32,500 | |
| Ex-Mumbai | 100×100 mm, IS 2831 | 29,550 | 29,500 | 29,600 | – 50 | 30,550 | 32,200 | |
| Ex-Chennai | 100×100 mm, IS 2831 | 30,100 | 30,000 | 30,200 | 0 | 30,200 | 32,000 | |
| Ex-Hyderabad | 100×100 mm, IS 2831 | 28,500 | 28,400 | 28,600 | – 500 | 29,700 | 31,500 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 35,400 | 35,200 | 35,500 | – 400 | 36,500 | 37,400 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 33,300 | 33,100 | 33,500 | – 300 | 34,600 | 36,800 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 32,400 | 32,300 | 32,600 | – 400 | 33,600 | 35,200 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 32,900 | 32,700 | 33,100 | 0 | 33,700 | 35,100 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 35,100 | 35,000 | 35,300 | 0 | 35,700 | 36,700 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 32,700 | 32,500 | 32,900 | – 300 | 33,500 | 35,500 | |
| Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 33,200 | 33,000 | 33,600 | – 300 | 34,300 | 37,100 |
| Ex-Raipur | Wire Rod(5.5 MM) | 33,700 | 33,100 | 34,500 | – 400 | 34,900 | 36,700 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
Leave a Reply