Indian steel prices rise by INR 100-500/MT today in major market trade activities amid average inquires.
The Sponge iron market registered slight incline in price range by INR 100-300/MT, inline Billet & Rebar offers increased by INR 200-500/MT, D-o-D.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 25,400-28,600/MT (USD 354-399) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 15,900-16,900/MT (USD 221-236); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 22nd August 2019 (Friday) INR to USD exchange rate stood at INR 71.72.
— ICEX (Indian Commodity Exchange Ltd) Sep’19 contract for STEELLONG today open at INR 27,350/MT & last traded (IST 18:22 hrs) at INR 27,720/MT.
— BSE Sensex closed at 36,701(+228) on Friday, as against last day (Thursday) at 36,472(-587).
— NSE Nifty50 index was closed today at 10,829(+88) & Nifty Metal at 2,278(+75).
Raw Materials
— NINL starts accumulating Iron ore to re-start it’s blast furnace. According to sources company has managed to source 30,000 MT iron ore.
— NMDC to auction 40,000 MT Iron ore from Chhattisgarh Mines on 28 Aug’19.
— Melting scrap offers in Western India- Gujarat incline by INR 400/MT in a day trade activities.
Semi Finished
— In today’s price circular, NINL offers Steel (N1) grade material pig iron are at INR 22,500/MT (USD 314) & for Foundry (N2) grade at INR 23,000/MT (USD 321), ex-Cuttack, Odisha.
— Raipur based manufacturer sold healthy volumes of sponge P-DRI at INR 15,500-15,600/MT ex-plant.
— Mid sized mills export offers to Nepal raised by USD 5/MT and assessed at around USD 410-415/MT for Wire rod & around USD 355-360/MT for Billet, ex-plant at Durgapur, eastern India.
— Central India, Raigarh based sponge manufacturer (900 TPD) has offered Pellet sponge at INR 15,700/MT FoR Raipur.
— Sources reported Chandrapur (Maharashtra) based manufacturers offered Sponge P-DRI (FeM 80) at around INR 15,800/MT, ex-plant & excluding GST.
— BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 15,900/MT ex-Bellary, an official reported. And added 2,500-3,000 MT sold to Goa, Hindupur & local Bellary region.
— BIOP Steels in South India has kept offers unaltered; offering FeM 80 & 82 C-DRI lumps at INR 16,300/MT & INR 16,700/MT ex-plant, Karnataka; an official reported.
Wire Rod & Pipe
— Trade discounts in Raipur wire rod firm at INR 1,300-1,500/MT by re-sellers, although base prices hike through the manufacturers by INR 300/MT to INR 30,900/MT ex-plant. Meanwhile in Durgapur trade reference prices up by INR 300/MT to INR 29,500-30,500/MT ex-plant.
— Mandi Gobindgarh, North India based ERW pipe manufacturers offers reported at around INR 33,000/MT ex-plant & excluding GST. Offers rise by INR 500/MT D-o-D.
— Raipur, Central India based ERW pipe manufacturers offers reported at around INR 30,800-31,000/MT ex-plant & excluding GST. Offers incline by INR 300-400/MT D-o-D.
Rebar (12 mm)
— Raipur based Real Ispat (GK TMT) is offering at INR 31,700/MT (up by INR 300/MT).
— Odisha based Subhlabh TMT was offered at INR 29,700/MT.
— Jalna based Bhagyalaxmi Rolling Mill Pvt Ltd (Polaad TMT) has unchanged their offers at INR 31,100/MT.
— Odisha based Bajrangbali Steel Industries Pvt Ltd is offering rebar at INR 29,500/MT.
— Jalna based SRJ Peety Steels Pvt Ltd (Shree Om) is offering at INR 31,300/MT (up by INR 200/MT).
— Wardha based Sangam TMT is offering at INR 30,400/MT (up by INR 100/MT).
— Gujarat based Diamond TMT is offering at INR 32,000/MT (up by INR 100/MT).
— Rathi Steels based in North region is current offering around INR 33,500/MT (Delhi).
Note – Prices mentioned above are ex-work, excluding GST & changes are placed on day basis. Prices are subject to reconfirmation.
Reference prices as on 23rd August 2019
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 21,700 | 21,600 | 21,800 | + 400 | 22,200 | 22,000 |
| Ex-Mumbai | HMS(80:20) | 21,500 | 21,300 | 21,500 | 0 | 20,900 | 21,000 | |
| Ex-Chennai | HMS(80:20) | 20,700 | 20,600 | 20,800 | + 300 | 20,500 | 20,200 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 16,900 | 16,800 | 17,000 | + 300 | 16,800 | 17,450 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 15,900 | 15,800 | 16,000 | 0 | 16,200 | 16,500 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 16,800 | 16,700 | 16,900 | + 100 | 17,200 | 17,200 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 16,300 | 16,200 | 16,400 | 0 | 16,600 | 16,400 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 15,900 | 15,800 | 16,000 | + 300 | 15,800 | 16,500 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 15,650 | 15,600 | 15,700 | + 150 | 16,100 | 16,200 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 15,900 | 15,800 | 16,000 | 0 | 16,100 | 15,900 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 16,400 | 16,300 | 16,400 | 0 | 16,500 | 16,400 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 28,500 | 28,400 | 28,600 | + 450 | 28,850 | 29,350 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 25,700 | 25,600 | 25,800 | + 200 | 25,800 | 26,100 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 25,000 | 24,900 | 25,100 | + 300 | 25,400 | 25,500 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 25,500 | 25,400 | 25,600 | + 350 | 25,600 | 26,250 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 27,400 | 27,300 | 27,500 | + 400 | 27,250 | 27,650 | |
| Billet | Ex-Mandi Gobindgarh | 100×100 mm, IS 2831 | 28,600 | 28,500 | 28,700 | + 500 | 28,900 | 29,500 |
| Ex-Durgapur | 100×100 mm, IS 2831 | 26,100 | 26,000 | 26,200 | + 300 | 26,400 | 26,600 | |
| Ex-Rourkela | 100×100 mm, IS 2831 | 25,400 | 25,300 | 25,500 | + 300 | 25,700 | 25,700 | |
| Ex-Raipur | 100×100 mm, IS 2831 | 26,100 | 26,000 | 26,200 | + 400 | 25,900 | 26,600 | |
| Ex-Ahmedabad | 100×100 mm, IS 2831 | 27,600 | 27,500 | 27,700 | + 200 | 28,200 | 28,500 | |
| Ex-Mumbai | 100×100 mm, IS 2831 | 27,700 | 27,600 | 27,800 | + 400 | 27,500 | 27,900 | |
| Ex-Chennai | 100×100 mm, IS 2831 | 28,100 | 28,000 | 28,200 | – 100 | 28,500 | 29,200 | |
| Ex-Hyderabad | 100×100 mm, IS 2831 | 26,200 | 26,000 | 26,500 | + 200 | 27,000 | 28,000 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 32,800 | 32,600 | 33,000 | + 100 | 33,200 | 34,100 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 29,800 | 29,600 | 30,000 | + 200 | 30,600 | 30,800 | |
| Ex-Rourkela | 12-25 MM, IS 1786- 500 Fe | 29,600 | 29,500 | 29,700 | + 500 | 29,800 | NA | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 29,300 | 29,100 | 29,500 | + 200 | 29,900 | 29,700 | |
| Ex-Jalna | 12-25 MM, IS 1786- 500 Fe | 31,000 | 30,800 | 31,100 | + 100 | 31,200 | 32,100 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 30,400 | 30,200 | 30,600 | + 200 | 30,800 | 31,100 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 32,400 | 32,200 | 32,600 | – 100 | 33,000 | 33,700 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 30,200 | 30,000 | 30,400 | 0 | 31,000 | 32,200 | |
| Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 29,700 | 29,500 | 30,500 | + 300 | 30,700 | 30,400 |
| Ex-Raipur | Wire Rod(5.5 MM) | 29,900 | 29,400 | 30,900 | + 300 | 30,200 | 31,400 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
Leave a Reply