Indian steel prices declined further by INR 100-500/MT owing to limited spot trades following poor off take in finished steel products, as stated by industry participants.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 24,200-28,500/MT (USD 341-403) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 15,600-16,600/MT (USD 220-234); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 8th August 2019 (Thursday) INR to USD exchange rate stood at INR 70.77.
— ICEX (Indian Commodity Exchange Ltd) Sep’19 contract for STEELLONG today open at INR 25,210/MT & last traded (IST 18:25 hrs) at INR 24,870/MT.
— BSE Sensex closed at 37,327(+636) on Thursday, as against last day (Wednesday) at 36,690(-286).
— NSE Nifty50 index was closed today at 11,032(+176) & Nifty Metal at 2,418(+29).
Raw Materials
— Tata Steel’s crude steel output remains stable at 4.50 MnT in Q1FY20 as compared 4.48 MnT in previous quarter.
— Raipur (central India) based pellet manufacturers have decreased their offers further today by INR 300/MT for Fe 63% grade to INR 6,200/MT (ex-Raipur, GST extra).
— Singhal Steel, Raigarh (Central India) based manufacturer has offered 60-14 Silico Manganese at around INR 65,000/MT ex-plant
— Melting scrap offers in Western India- Gujarat decline by INR 400/MT in a day trade activities.
Semi Finished
— Ludhiana, North India based trade participants reported steel & foundry grade pig iron offers at INR 26,800-27,000/MT & INR 29,000-29,200/MT on FoR basis & excluding 18% GST.
— Raipur, Central India based integrated plants offering Sponge P-DRI at INR 15,400-15,500/MT ex-plant, offers decline by INR 300/MT in a day trade activities.
— Raigarh based Singhal Steel offered billet at INR 25,200/MT FoR Raipur, officials reported.
— Odisha based medium size sponge manufacturers offered FeM 80 C-DRI (70:30 mix material) at INR 15,600-15,800/MT ex-plant & excluding GST.
— BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 15,700-15,800/MT ex-Bellary; an official reported.
— BIOP Steels in South India has offered FeM 80 & 82 C-DRI lumps at INR 16,400/MT & INR 16,800/MT ex-plant, Karnataka; an official reported.
Wire Rod & Pipe
— Mandi Gobindgarh, North India based ERW pipe manufacturers offers reported at around INR 32,800/MT ex-plant & excluding GST. Offers decline by INR 200-300/MT D-o-D.
— Raipur, Central India based ERW pipe manufacturers offers reported at around INR 31,000-31,200/MT ex-plant & excluding GST. Offers decline by INR 200-300/MT D-o-D.
— Odisha based ERW pipe manufacturers offers reported at around INR 31,000-31,300/MT ex-plant & excluding GST, a Pipe (100 TPD) manufacturer reported.
Rebar (12 mm)
— Raipur based Real Ispat (GK TMT) is offering at INR 31,000/MT (down by INR 700/MT).
— Raigarh based Anjani Steels Ltd. (Radhe TMT) has unchanged their offers at INR 28,500/MT.
— Raigarh based Scan Group branding (Shrishti TMT) is offering at INR 28,900/MT (down by INR 400/MT).
— Jalna based Bhagyalaxmi Rolling Mill Pvt Ltd (Polaad TMT) is offering at INR 31,000/MT(down by INR 300/MT).
— Jalna based SRJ Peety Steels Pvt Ltd (Shree Om) has unchanged their offers at INR 31,000/MT.
— Wardha based Sangam TMT is currently offering at INR 29,800/MT.
— Chennai based ARS Steel (Trusteel – 550D) is currently offering at INR 35,800/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 8th August 2019
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 21,100 | 21,000 | 21,200 | – 400 | 22,400 | 22,800 |
| Ex-Mumbai | HMS(80:20) | 20,700 | 20,500 | 20,800 | 0 | 21,200 | 21,200 | |
| Ex-Chennai | HMS(80:20) | 20,300 | 20,100 | 20,400 | – 100 | 20,300 | 21,200 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 15,600 | 15,500 | 15,700 | – 200 | 17,300 | 17,800 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 15,700 | 15,600 | 15,800 | – 200 | 16,500 | 16,300 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 16,600 | 16,500 | 16,700 | – 100 | 17,200 | 17,000 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 16,300 | 16,200 | 16,400 | 0 | 16,400 | 16,600 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 14,600 | 14,500 | 14,700 | – 200 | 16,300 | 16,800 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 15,400 | 15,300 | 15,500 | – 350 | 16,200 | 16,100 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 15,700 | 15,600 | 15,800 | 0 | 15,900 | 16,000 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 16,200 | 16,100 | 16,300 | 0 | 16,400 | 16,500 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 27,000 | 26,900 | 27,100 | – 200 | 28,900 | 30,150 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 24,700 | 24,600 | 24,800 | – 300 | 25,800 | 27,000 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 24,100 | 24,000 | 24,200 | – 300 | 25,300 | 26,100 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 24,750 | 24,700 | 24,800 | – 150 | 25,900 | 26,600 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 26,800 | 26,700 | 26,900 | – 50 | 27,300 | 27,750 | |
| Billet | Ex-Mandi Gobindgarh | 100×100 mm, IS 2831 | 27,100 | 27,000 | 27,200 | – 200 | 29,000 | 30,200 |
| Ex-Durgapur | 100×100 mm, IS 2831 | 25,200 | 25,100 | 25,300 | – 200 | 26,300 | 27,500 | |
| Ex-Rourkela | 100×100 mm, IS 2831 | 24,200 | 24,100 | 24,300 | – 500 | 25,600 | 26,500 | |
| Ex-Raipur | 100×100 mm, IS 2831 | 25,100 | 25,000 | 25,200 | – 200 | 26,250 | 27,350 | |
| Ex-Ahmedabad | 100×100 mm, IS 2831 | 26,800 | 26,700 | 27,000 | – 200 | 28,600 | 29,000 | |
| Ex-Mumbai | 100×100 mm, IS 2831 | 27,100 | 27,000 | 27,200 | – 50 | 27,600 | 28,050 | |
| Ex-Chennai | 100×100 mm, IS 2831 | 28,500 | 28,400 | 28,600 | – 200 | 29,150 | 29,300 | |
| Ex-Hyderabad | 100×100 mm, IS 2831 | 26,800 | 26,500 | 27,000 | – 200 | 28,000 | 28,300 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 32,400 | 32,200 | 32,500 | – 200 | 33,700 | 34,500 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 28,800 | 28,600 | 29,000 | – 400 | 30,500 | 32,300 | |
| Ex-Rourkela | 12MM, IS 1786- 415/500 Fe | 29,200 | 29,100 | 29,400 | 0 | 29,800 | NA | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 28,200 | 28,000 | 28,400 | – 300 | 29,600 | 31,300 | |
| Ex-Jalna | 12-25 MM, IS 1786- 500 Fe | 30,600 | 30,400 | 30,800 | – 100 | 31,100 | 32,300 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 30,100 | 29,900 | 30,200 | 0 | 30,400 | 31,200 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 33,000 | 32,800 | 33,200 | 0 | 33,500 | 34,200 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 31,000 | 30,800 | 31,100 | – 200 | 32,000 | 32,500 | |
| Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 29,200 | 29,000 | 29,500 | – 100 | 30,300 | 31,800 |
| Ex-Raipur | Wire Rod(5.5 MM) | 29,000 | 28,500 | 30,500 | – 500 | 30,700 | 32,900 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
Leave a Reply