Indian steel prices slightly increase on day trade activities amid improved inquiries and as per assessment the mid sized mills raised Rebar & Billet prices by INR 100-400/MT in major markets.
The major price rise recorded in Billet market by INR 100-400/MT followed by Rebar INR 100-300/MT. However, Sponge iron prices remain slightly fluctuate by INR 200/MT in which in Eastern region it surge, while in Southern India marginal fall observed.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 27,700-31,600/MT (USD 401-458) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 16,800-18,000/MT (USD 243-261); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 28th June 2019 (Friday) INR to USD exchange rate stood at INR 68.99.
— ICEX (Indian Commodity Exchange Ltd) Jul’19 contract for STEELLONG today open at INR 30,140/MT & last traded (IST 18:28) at INR 30,280/MT.
— BSE Sensex closed at 39,394(-191) on Friday, as against last day (Thursday) at 39,586(-5).
— NSE Nifty50 index was closed today at 11,788(-52) & Nifty Metal at 2,980(-34).
Raw Materials
— India’s KIOCL signs MoU with Glencore & Steel Mont for pellet supply of around 400,000 MT to European markets including UK.
— KIOCL concludes 50,000 MT domestic Iron ore concentrate (Fe 63.5%) purchase tender at around INR 6,050/MT CFR Mangalore port
— According to the latest assessment of Coking coal, spot prices of the Premium HCC are reported at around USD 195/MT FoB Australia & USD 207.6/MT CNF India.
Semi Finished
— Indian Sponge iron export offers drop further and latest assessment stood at around USD 280/MT CPT Benapole(dry port of India & Bangladesh), equivalent to USD 295/MT CNF Chittagong, Bangladesh.
— Jindal Steel further cuts price and reported steel grade pig iron at INR 26,500-26,700/MT ex-Raigarh & panther shots(granulated pig iron) at INR 24,500-24,700/MT ex-Angul, Odisha.
— Private pig iron producers in Durgapur reported limited inquiries at offers of steel grade material at INR 26,500-27,000/MT (ex-plant) due to competitive offers from Jharkhand at INR 26,800-27,000/MT FoR.
— Durgapur based integrated plants have raised sponge prices by INR 200/MT to INR 17,000/MT on improved inquiries.
— Raipur based one of the major sponge producer has increased P-DRI prices by INR 200/MT to INR 16,200-16,300/MT ex-plant.
— Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 17,000/MT & Billet at INR 27,800/MT ex-plant.
— Odisha based manufacturer, KJS Ahluwalia offered billet at INR 27,800/MT ex-plant.
— BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 16,300-16,400/MT ex-Bellary, offers decline by INR 300-400/MT from the last trade; an official reported.
— Apple Industries in Bellary (Karnataka) offered Sponge FeM 83+ P-DRI lump at INR 17,800/MT & Billet at INR 29,000/MT ex-plant.
— BIOP Steels in South India has offered FeM 80 & 82 C-DRI lumps at INR 16,800/MT & INR 17,200/MT ex-plant, Karnataka; an official reported.
Wire Rod & Pipe
— Trade discounts in Raipur wire rod down by INR 200/MT to INR 1,000-1,200/MT along with steady base price at INR 34,500/MT ex-plant.
— Raipur, Central India based ERW pipe manufacturers offers reported at around INR 35,500/MT ex-plant & excluding GST. Offers incline by INR 200/MT D-o-D.
Rebar (12 mm)
— Rathi Steels based in North region is offering at around INR 36,600/MT (ex-Delhi).
— Raipur based – SPEED TMT has unchanged their offer at INR 32,600/MT.
— Real Ispat (GK TMT) is current offering at INR 35,000/MT (down by INR 300/MT).
— Raigarh based N.R Ispat & Power Pvt. Ltd (N.R TMT) is offering at INR 32,700/MT.
— Raigarh based Anjani Steels Ltd. (Radhe TMT) is offering at INR 32,700/MT (down by INR 100/MT).
— Gujarat based Shreeyam Power & Steel Industries Ltd. (National TMT) is offering at INR 34,700/MT FoR.
— Jalna based Kalika Steels Alloys Pvt. Ltd. (Kalika TMT) is offering at INR 33,300/MT.
— Jalna based Rajuri Steel Pvt. Ltd. (Rajuri) TMT is offering at INR 33,300/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 28th June 2019
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 23,700 | 23,600 | 23,800 | – 100 | 24,600 | 26,400 |
| Ex-Mumbai | HMS(80:20) | 22,400 | 22,300 | 22,600 | – 100 | 23,500 | 24,800 | |
| Ex-Chennai | HMS(80:20) | 22,000 | 21,900 | 22,100 | – 100 | 22,200 | 23,800 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 18,000 | 17,900 | 18,100 | + 200 | 17,500 | 19,900 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 16,900 | 16,800 | 17,000 | + 200 | 16,900 | 18,900 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 17,250 | 17,200 | 17,300 | – 50 | 17,200 | 19,700 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 16,800 | 16,700 | 16,900 | – 300 | 17,500 | 19,100 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 17,000 | 16,900 | 17,100 | + 200 | 16,500 | 18,800 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 16,300 | 16,200 | 16,400 | 0 | 16,200 | 18,600 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 16,400 | 16,300 | 16,400 | – 300 | 17,000 | 18,900 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 16,900 | 16,800 | 17,000 | – 200 | 17,500 | 19,300 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 31,400 | 31,300 | 31,500 | + 300 | 31,700 | 34,200 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 28,100 | 28,000 | 28,200 | + 200 | 28,500 | 31,400 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 27,300 | 27,200 | 27,400 | + 300 | 27,200 | 30,300 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 27,750 | 27,700 | 27,800 | + 150 | 27,650 | 30,900 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 29,400 | 29,300 | 29,500 | + 100 | 29,600 | 32,200 | |
| Billet | Ex-Mandi Gobindgarh | 100×100 mm, IS 2831 | 31,600 | 31,500 | 31,700 | + 300 | 31,900 | 34,600 |
| Ex-Durgapur | 100×100 mm, IS 2831 | 28,600 | 28,500 | 28,700 | + 100 | 29,000 | 31,800 | |
| Ex-Rourkela | 100×100 mm, IS 2831 | 27,700 | 27,600 | 27,800 | + 200 | 27,700 | 30,850 | |
| Ex-Raipur | 100×100 mm, IS 2831 | 28,500 | 28,400 | 28,600 | + 300 | 28,300 | 31,500 | |
| Ex-Ahmedabad | 100×100 mm, IS 2831 | 30,300 | 30,200 | 30,400 | 0 | 30,850 | 33,050 | |
| Ex-Mumbai | 100×100 mm, IS 2831 | 29,600 | 29,500 | 29,700 | + 100 | 29,800 | 32,400 | |
| Ex-Chennai | 100×100 mm, IS 2831 | 30,000 | 29,900 | 30,100 | – 100 | 30,100 | 31,800 | |
| Ex-Hyderabad | 100×100 mm, IS 2831 | 28,500 | 28,400 | 28,600 | 0 | 29,000 | 32,000 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 35,700 | 35,500 | 35,900 | + 100 | 36,100 | 37,600 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 33,500 | 33,300 | 33,700 | + 100 | 33,800 | 37,000 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 32,400 | 32,300 | 32,600 | 0 | 33,100 | 35,300 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 32,900 | 32,700 | 33,100 | 0 | 33,100 | 35,200 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 34,900 | 34,700 | 35,100 | – 100 | 35,400 | 36,600 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 32,700 | 32,500 | 32,900 | 0 | 33,000 | 35,800 | |
| Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 33,200 | 32,900 | 33,500 | – 200 | 33,600 | 37,100 |
| Ex-Raipur | Wire Rod(5.5 MM) | 33,900 | 33,300 | 34,500 | + 200 | 34,100 | 37,000 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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