Indian Sponge iron & Billet prices surge up to INR 500/MT (USD 7) today on improved inquiries and limited supply of sponge iron at lower offers, following the same Ingot/Billet manufacturers have raised prices.
However finished steel prices registered volatility by INR 100-300/MT on demand concern amid sufficient stock with the mills, as stated by market participants.
Participants also mentioned that, prices of semis products will remain strong once demand of finished steel gain momentum.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 26,800-30,700/MT (USD 390-447) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 16,400-18,000/MT (USD 238-262); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 12th July 2019 (Friday) INR to USD exchange rate stood at INR 68.67.
— ICEX (Indian Commodity Exchange Ltd) Aug’19 contract for STEELLONG today open at INR 29,850/MT & last traded (IST 18:25) at INR 30,100/MT.
— BSE Sensex closed at 38,736(-86) on Friday, as against last day (Thursday) at 38,823(+266).
— NSE Nifty50 index was closed today at 11,552(-30) & Nifty Metal at 2,826(+21).
Raw Materials
— Serajuddin mines recorded iron ore dispatches at 1.13 MnT in June’19, up 19% against 0.95 MnT in May’19.
— TATA Steel remained the largest miner to dispatch 1,51,369 MT of Chrome Ore in Jun’19 which is 6% high as compared to the previous month.
— Melting scrap offers in Western India- Gujarat decline by INR 400/MT in a day trade activities. However as per billet manufacturers suppliers are limited at lower offers of scrap.
Semi Finished
— SAIL has invited ocean export tender for 16,200 MT Prime Mild Steel Non-Alloy Concast billets, size 125*125 mm from Durgapur Steel plant. The last date for bid submission is 15 Jul’19.
— Sponge iron manufacturers in major markets holding bulk deals looking at further surge in prices with seasonal impacts. Today Raipur based one of the major plant has raised prices by INR 300/MT to INR 16,400-16,500/MT ex-plant.
— Rashmi Metaliks in Durgapur heard to have sold Sponge P-DRI with increase price by INR 200/MT to INR 17,000/MT, as reported by sources.
— Private pig iron producers further lowered prices due to limited response and trade reference prices stood at around INR 25,700-25,800/MT FoR Raipur, INR 25,800-26,000/MT ex-Durgapur/Jharkhand & INR 24,500-24,700/MT ex-Jajpur, Odisha.
— Raigarh based Singhal Steel offered P-DRI at INR 15,600/MT & Billet at INR 27,000/MT ex-Raigarh, officials reported.
— Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 16,500/MT & Billet at INR 26,500/MT ex-plant.
— BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 16,000-16,100/MT ex-Bellary, an official reported.
— Apple Industries in Bellary (Karnataka) offered Billet at INR 27,600/MT ex-plant.
— BIOP Steels in South India has kept offers unaltered; offering FeM 80 & 82 C-DRI lumps at INR 16,600/MT & INR 17,000/MT ex-plant, Karnataka; an official reported.
Wire Rod & Pipe
— Trade discounts in Raipur Wire rod down by INR 200/MT to INR 1,200-1,400/MT due to rising billet prices and base price of 5.5 mm wire rod stood at INR 33,700/MT ex-plant. The trade reference prices in Durgapur being surge by INR 200/MT to INR 31,800-32,700/MT ex-plant.
— Raipur, Central India based ERW pipe manufacturers offers reported at around INR 34,300-34,500/MT ex-plant & excluding GST.
— Mandi Gobindgarh, North India based ERW pipe manufacturers offers reported at around INR 36,200/MT ex-plant & excluding GST.
Rebar (12 mm)
— Rathi Steels based in North region has unchanged their offers at INR 35,000/MT (ex-Delhi).
— Raipur based – SPEED TMT is offering at INR 31,200/MT(down by INR 300/MT).
— Real Ispat (GK TMT) has unchanged their offers at INR 33,800/MT.
— Raigarh based Scan Group branding (Shrishti TMT) is offering at INR 31,400(down by INR 100/MT).
— Jalna based Bhagyalaxmi Rolling Mill Pvt Ltd (Polaad TMT) has unchanged their offers at INR 32,300/MT.
— Jalna based Rajuri Steel Pvt. Ltd. (Rajuri) TMT has unchanged their offers at INR 32,400/MT.
— Gujarat based Diamond TMT is offering at INR 33,800/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 12th July 2019
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 22,400 | 22,300 | 22,500 | – 400 | 23,000 | NA |
| Ex-Mumbai | HMS(80:20) | 21,300 | 21,200 | 21,400 | + 100 | 22,000 | 24,400 | |
| Ex-Chennai | HMS(80:20) | 21,300 | 21,100 | 21,400 | + 100 | 21,600 | 22,900 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 18,000 | 17,900 | 18,100 | + 200 | 18,000 | 18,400 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 16,450 | 16,400 | 16,500 | + 150 | 16,700 | 17,900 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 17,300 | 17,200 | 17,400 | + 300 | 17,200 | 18,200 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 16,600 | 16,500 | 16,700 | 0 | 16,800 | 18,000 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 17,000 | 16,900 | 17,100 | + 200 | 17,000 | 17,350 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 16,400 | 16,300 | 16,500 | + 300 | 16,200 | 17,100 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 16,100 | 16,000 | 16,200 | + 100 | 16,300 | 17,500 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 16,500 | 16,400 | 16,600 | 0 | 16,800 | 18,000 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 30,650 | 30,600 | 30,700 | + 500 | 30,950 | 33,000 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 27,200 | 27,100 | 27,300 | + 200 | 27,600 | 29,700 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 26,500 | 26,400 | 26,600 | + 400 | 26,950 | 28,900 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 27,100 | 27,000 | 27,200 | + 500 | 27,050 | 29,200 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 27,900 | 27,800 | 28,000 | + 150 | 28,800 | 30,850 | |
| Billet | Ex-Mandi Gobindgarh | 100×100 mm, IS 2831 | 30,700 | 30,600 | 30,800 | + 500 | 31,150 | 33,300 |
| Ex-Durgapur | 100×100 mm, IS 2831 | 27,700 | 27,600 | 27,800 | + 200 | 28,100 | 30,200 | |
| Ex-Rourkela | 100×100 mm, IS 2831 | 26,800 | 26,700 | 26,900 | + 300 | 27,400 | 29,200 | |
| Ex-Raipur | 100×100 mm, IS 2831 | 27,700 | 27,600 | 27,800 | + 350 | 27,800 | 29,750 | |
| Ex-Ahmedabad | 100×100 mm, IS 2831 | 29,100 | 29,000 | 29,200 | + 100 | 29,450 | 32,000 | |
| Ex-Mumbai | 100×100 mm, IS 2831 | 28,100 | 28,000 | 28,200 | + 50 | 29,000 | 31,100 | |
| Ex-Chennai | 100×100 mm, IS 2831 | 29,500 | 29,400 | 29,600 | + 200 | 29,700 | 30,600 | |
| Ex-Hyderabad | 100×100 mm, IS 2831 | 28,500 | 28,400 | 28,600 | + 200 | 29,000 | 30,000 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 34,500 | 34,400 | 34,700 | 0 | 35,300 | 37,000 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 32,300 | 32,100 | 32,500 | 0 | 33,300 | 35,100 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 31,000 | 30,900 | 31,200 | – 300 | 32,200 | 34,000 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 31,300 | 31,100 | 31,400 | + 100 | 32,200 | 34,000 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 34,000 | 33,800 | 34,200 | – 200 | 34,700 | 35,800 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 32,500 | 32,300 | 32,700 | 0 | 32,700 | 34,000 | |
| Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 32,000 | 31,800 | 32,700 | + 200 | 32,700 | 34,900 |
| Ex-Raipur | Wire Rod(5.5 MM) | 33,000 | 32,300 | 33,700 | + 100 | 33,700 | 35,500 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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