Indian billet & rebar prices volatile by INR 100-500/MT today due to average trade inquiries amid strong supply.
However sponge iron offers remained strong on account of high cost raw materials & short supply in merchant market and as per assessment the prices surge by INR 100-200/MT, day on day.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 26,400-30,100/MT (USD 383-437) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 16,700-17,900/MT (USD 242-260); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 22nd July 2019 (Monday) INR to USD exchange rate stood at INR 68.92.
— ICEX (Indian Commodity Exchange Ltd) Aug’19 contract for STEELLONG today open at INR 29,150/MT & last traded (IST 18:19) at INR 29,240/MT.
— BSE Sensex closed at 38,031(-305) on Monday, as against last day (Friday) at 38,337(-560).
— NSE Nifty50 index was closed today at 11,346(-73) & Nifty Metal at 2,788(+46).
Raw Materials
— According to the latest assessment of Coking coal, spot prices of the Premium HCC are reported at around USD 178/MT FoB Australia & USD 195/MT CNF India.
— South African RB2 (5500 NAR) coal offers are assessed at USD 54.08/MT on FoB basis & USD 67.08/MT CNF India.
— Melting scrap offers in Western India- Jalna (Maharashtra) incline by INR 300/MT in a day trade activities.
Semi Finished
— SAIL (Steel Authority of India Limited) conducted auction for around 6,250 MT steel grade pig iron today in which the base price reduced by INR 500-550/MT (USD 7-8) to INR 24,830/MT ex-plant. As per sources the auction receives weak response as only about 900-1,000 MT pig iron have been fetched bids.
— Raipur based plants have maintained sponge P-DRI offers at INR 17,100-17,200/MT, however deals learned at near to INR 17,000/MT ex-plant.
— Raigarh based Singhal Steel offered P-DRI at INR 16,300-16,400/MT & Billet at INR 27,400/MT FoR-Raipur, officials reported.
— East India, Odisha based manufacturer, Mahavir Ferro Alloys offered Billet at INR 26,500/MT ex-plant as per officials.
— Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 16,800/MT & Billet at INR 26,400/MT ex-plant.
— Odisha based manufacturer, Ganesh Metaliks offered Billet at INR 26,600/MT ex-plant, an official reported.
— Shri Hari Sponge, an Odisha based plant offered FeM 80 sponge mix material at INR 16,800/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 incline by INR 200/MT from the last trade; an official reported.
— BIOP Steels in South India has increased sponge prices by INR 200/MT, offering FeM 80 & 82 C-DRI lumps at INR 16,700/MT & INR 17,100/MT ex-plant, Karnataka; an official reported.
— Hare Krishna, a 300 TPD sponge manufacturer in Bellary, Karnataka has offered FeM 79-80 P-DRI at INR 16,300-16,500/MT ex-plant, an official reported.
Wire Rod & Pipe
— Trade discounts in Raipur Wire rod increased by INR 200/MT to INR 1,600-1,800/MT due to drop billet prices. Basic offer for 5.5 mm wire rod assessed at INR 33,400/MT ex-Raipur & INR 30,800-31,600/MT ex-Durgapur.
— Mandi Gobindgarh, North India based ERW pipe manufacturers offers reported at around INR 36,000/MT ex-plant & excluding GST.
— Raipur, Central India based ERW pipe manufacturers offers reported at around INR 34,000-34,200/MT ex-plant & excluding GST.
Rebar (12 mm)
— Raipur based – SPEED TMT has unchanged their offers at INR 31,100/MT.
— Real Ispat (GK TMT) in Raipur has unchanged their offers at INR 33,300/MT.
— Raigarh based Anjani Steels Ltd. (Radhe TMT) is offering at INR 30,900/MT(up by INR 100/MT).
— Raigarh based Scan Group branding (Shrishti TMT) is offering at INR 30,900/MT(down by INR 200/MT).
— Gujarat based Shreeyam Power & Steel Industries Ltd. (National TMT) has unchanged their offers at INR 33,700/MT FoR.
— Jalna based Bhagyalaxmi Rolling Mill Pvt Ltd (Polaad TMT) has unchanged their offers at INR 32,700/MT.
— Jalna based Rajuri Steel Pvt. Ltd. (Rajuri) TMT has unchanged their offers at INR 32,800/MT(up by INR 200/MT).
— Chennai based ARS Steel (Trusteel – 550D) is current offering at INR 36,300/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 22nd July 2019
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 22,300 | 22,200 | 22,400 | – 200 | 22,300 | 24,200 |
| Ex-Mumbai | HMS(80:20) | 21,300 | 21,200 | 21,500 | + 200 | 21,200 | 23,300 | |
| Ex-Chennai | HMS(80:20) | 20,500 | 20,400 | 20,700 | – 100 | 20,800 | 22,200 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 17,850 | 17,800 | 17,900 | + 100 | 17,700 | 17,900 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 16,800 | 16,700 | 16,900 | + 100 | 16,600 | 16,800 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 17,900 | 17,800 | 18,000 | 0 | 17,500 | 17,300 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 16,700 | 16,600 | 16,800 | + 200 | 16,600 | 17,300 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 16,850 | 16,800 | 16,900 | + 100 | 16,700 | 16,900 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 17,000 | 16,900 | 17,100 | 0 | 16,600 | 16,400 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 16,300 | 16,200 | 16,400 | + 200 | 16,300 | 16,800 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 16,700 | 16,600 | 16,800 | + 100 | 16,600 | 17,400 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 30,050 | 30,000 | 30,100 | – 150 | 30,300 | 31,000 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 26,400 | 26,300 | 26,500 | – 100 | 26,700 | 28,400 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 26,000 | 25,900 | 26,100 | – 100 | 26,300 | 27,000 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 26,900 | 26,800 | 27,000 | – 100 | 27,000 | 27,700 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 28,000 | 27,900 | 28,000 | 0 | 28,000 | 29,400 | |
| Billet | Ex-Mandi Gobindgarh | 100×100 mm, IS 2831 | 30,100 | 30,000 | 30,200 | – 200 | 30,400 | 31,200 |
| Ex-Durgapur | 100×100 mm, IS 2831 | 27,000 | 26,900 | 27,100 | – 100 | 27,300 | 28,900 | |
| Ex-Rourkela | 100×100 mm, IS 2831 | 26,400 | 26,300 | 26,500 | – 100 | 26,600 | 27,500 | |
| Ex-Raipur | 100×100 mm, IS 2831 | 27,350 | 27,300 | 27,400 | – 150 | 27,500 | 28,500 | |
| Ex-Ahmedabad | 100×100 mm, IS 2831 | 29,000 | 28,900 | 29,100 | – 350 | 29,050 | 30,300 | |
| Ex-Mumbai | 100×100 mm, IS 2831 | 28,300 | 28,200 | 28,300 | 0 | 28,250 | 29,600 | |
| Ex-Chennai | 100×100 mm, IS 2831 | 29,150 | 29,100 | 29,200 | + 50 | 29,500 | 30,050 | |
| Ex-Hyderabad | 100×100 mm, IS 2831 | 29,000 | 28,900 | 29,100 | + 500 | 28,800 | 29,000 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 34,300 | 34,200 | 34,500 | – 100 | 34,500 | 35,900 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 31,500 | 31,300 | 31,700 | – 100 | 32,000 | 33,600 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 30,800 | 30,700 | 31,000 | 0 | 31,100 | 33,100 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 31,300 | 31,200 | 31,500 | 0 | 31,500 | 33,000 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 33,700 | 33,600 | 33,900 | – 100 | 34,000 | 35,100 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 33,000 | 32,800 | 33,200 | + 500 | 32,700 | 33,000 | |
| Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 31,000 | 30,800 | 31,600 | 0 | 31,700 | 33,500 |
| Ex-Raipur | Wire Rod(5.5 MM) | 32,500 | 31,700 | 33,400 | – 100 | 33,100 | 34,100 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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