Indian billet prices surged upto INR 1,000/MT (USD 14) today following improved spot trades in major markets. As per mid sized mills, buying inquiries were quite healthy as traders actively booked material, this led to constant rise in prices since couple of days.
In line rebar prices increased by INR 500-1,000/MT (USD 7-14) & Sponge iron by INR 200-700/MT following rally in billet offers. And the major hike in steel prices observed in east & central regions.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 26,600-29,600/MT (USD 372-414) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 16,500-17,900/MT (USD 230-250); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 27th August 2019 (Tuesday) INR to USD exchange rate stood at INR 71.50.
— ICEX (Indian Commodity Exchange Ltd) Sep’19 contract for STEELLONG today open at INR 28,260/MT & last traded (IST 18:19 hrs) at INR 28,340/MT.
— BSE Sensex closed at 37,641(+147) on Tuesday, as against last day (Monday) at 37,494(+792).
— NSE Nifty50 index was closed today at 11,105(+47) & Nifty Metal at 2,303(+47).
Raw Materials
— NMDC has decreased iron ore lumps and fines floor prices by INR 200/MT for upcoming Karnataka e-auctions today (i.e 27th Aug 2019), fines (Fe 63%) base price from Kumaraswamy mines at INR 2,589/MT & Fe 63.8% lump prices at INR 3,079/MT (basic). All prices mentioned are basic, royalty and other taxes extra.
— According to the latest assessment of Coking coal, spot prices of the Premium HCC are reported at around USD 155.5/MT FoB Australia & USD 171.4/MT CNF India.
Semi Finished
— As per officials from Electrosteels fresh deals concluded for steel grade pig iron at around INR 23,600-23,700/MT ex-plant, Bokaro, Jharkhand.
— Private pig iron producers in eastern India have maintained their offers and reported steel grade at around INR 23,800-24,000/MT ex-plant, Durgapur.
— As per latest update received by SteelMint, the fresh deals for sponge iron (79-80 FeM, 95-100% lumps) exports to Bangladesh concluded at near to USD 260/MT CPT Benapole(dry port of India & Bangladesh), this is equivalent to USD 275-280/MT CFR Chittagong.
— Durgapur based Rashmi Metaliks has raised sponge P-DRI prices by INR 800/MT to INR 17,000/MT, as per sources.
— Central India, Raigarh based sponge manufacturer (900 TPD) has offered Pellet sponge at INR 16,300/MT FoR Raipur.
— Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 17,000/MT & Billet at INR 26,400-26,500/MT ex-plant.
— BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 16,400-16,500/MT ex-Bellary, offers incline by INR 400-500/MT from the last trade; an official reported.
— Hare Krishna, a 300 TPD sponge manufacturer in Bellary, Karnataka has offered FeM 79-80 P-DRI at INR 16,500/MT ex-plant, an official reported.
— BIOP Steels in South India has increased sponge prices by INR 500/MT, offering FeM 80 & 82 C-DRI lumps at INR 16,800/MT & INR 17,200/MT ex-plant, Karnataka; an official reported.
— Hyderabad, South India based steel manufacturers increased their Billet & Rebar offer by INR 500/MT to INR 27,000/MT & INR 31,000/MT (12 mm). Prices are ex-plant & excluding GST.
Wire Rod & Pipe
— Trade discounts in Raipur wire rod firm at INR 1,000-1,400/MT by re-sellers, although base prices hike through the manufacturers by INR 1,000/MT to INR 31,900/MT ex-plant. Meanwhile in Durgapur trade reference prices up by INR 800-1,000/MT to INR 30,800-31,100/MT ex-plant.
— Mandi Gobindgarh, North India based ERW pipe manufacturers offers reported at around INR 33,600-33,700/MT ex-plant & excluding GST.
— Raipur, Central India based ERW pipe manufacturers offers reported at around INR 31,500-31,700/MT ex-plant & excluding GST.
— Odisha based ERW pipe manufacturers offers reported at around INR 32,000/MT ex-plant & excluding GST, a Pipe (100 TPD) manufacturer reported.
Rebar (12 mm)
— Raipur based Real Ispat (GK TMT) is offering at INR 32,700/MT (up by INR 800/MT).
— Raigarh based Scan Group branding (Shrishti TMT) is offering at INR 31,100/MT (up by INR 600/MT).
— Gujarat based Shreeyam Power & Steel Industries Ltd. (National TMT) is offering at INR 32,500/MT FoR.
— Jalna based Rajuri Steel Pvt. Ltd. (Rajuri TMT) is offering at INR 31,700/MT (up by INR 400/MT).
— Wardha based Sangam TMT is current offering at INR 31,800/MT.
— Odisha based Ultra Strong TMT was offered at INR 36,000/MT, an official reported.
— Bajrangbali Steel Industries Pvt Ltd based in Odisha is offering rebar at INR 35,800/MT.
— Odisha based Subhlabh TMT offers reported at INR 36,200/MT.
— Jalna based Kalika Steels Alloys Pvt. Ltd. (Kalika TMT) is current offering at INR 31,700/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 27th August 2019
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 22,000 | 21,900 | 22,100 | + 200 | 21,600 | 22,100 |
| Ex-Mumbai | HMS(80:20) | 21,700 | 21,600 | 21,800 | + 200 | 21,400 | 21,000 | |
| Ex-Chennai | HMS(80:20) | 20,600 | 20,400 | 20,700 | + 200 | 20,500 | 20,200 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 17,900 | 17,800 | 18,000 | + 700 | 16,600 | 17,400 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 16,700 | 16,600 | 16,800 | + 500 | 15,700 | 16,500 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 17,500 | 17,400 | 17,600 | + 500 | 16,900 | 17,100 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 16,800 | 16,700 | 16,900 | + 400 | 16,400 | 16,300 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 16,900 | 16,800 | 17,000 | + 700 | 15,600 | 16,400 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 16,300 | 16,200 | 16,400 | + 550 | 15,500 | 16,100 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 16,300 | 16,200 | 16,400 | + 300 | 15,900 | 15,800 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 16,700 | 16,600 | 16,800 | + 300 | 16,400 | 16,400 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 29,500 | 29,400 | 29,600 | + 600 | 28,000 | 29,200 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 26,800 | 26,700 | 26,900 | + 1,000 | 25,750 | 25,900 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 26,200 | 26,100 | 26,300 | + 900 | 24,800 | 25,300 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 26,500 | 26,400 | 26,600 | + 700 | 24,800 | 25,900 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 28,200 | 28,100 | 28,300 | + 400 | 27,300 | 27,200 | |
| Billet | Ex-Mandi Gobindgarh | 100×100 mm, IS 2831 | 29,600 | 29,500 | 29,700 | + 600 | 28,000 | 29,300 |
| Ex-Durgapur | 100×100 mm, IS 2831 | 27,200 | 27,100 | 27,300 | + 1,000 | 26,050 | 26,400 | |
| Ex-Rourkela | 100×100 mm, IS 2831 | 26,600 | 26,500 | 26,600 | + 900 | 25,000 | 25,600 | |
| Ex-Raipur | 100×100 mm, IS 2831 | 27,100 | 27,000 | 27,200 | + 700 | 25,250 | 26,250 | |
| Ex-Ahmedabad | 100×100 mm, IS 2831 | 28,800 | 28,700 | 28,900 | + 600 | 27,600 | 28,600 | |
| Ex-Mumbai | 100×100 mm, IS 2831 | 28,400 | 28,300 | 28,500 | + 400 | 27,500 | 27,500 | |
| Ex-Chennai | 100×100 mm, IS 2831 | 28,300 | 28,200 | 28,400 | + 100 | 28,300 | 29,250 | |
| Ex-Hyderabad | 100×100 mm, IS 2831 | 27,000 | 26,900 | 27,100 | + 500 | 26,000 | 28,500 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 33,400 | 33,400 | 33,700 | + 700 | 32,800 | 33,900 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 31,300 | 31,100 | 31,500 | + 900 | 29,600 | 30,600 | |
| Ex-Rourkela | 12-25 MM, IS 1786- 500 Fe | 30,500 | 30,400 | 30,700 | + 700 | 29,200 | 30,000 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 30,300 | 30,300 | 30,600 | + 600 | 29,000 | 29,800 | |
| Ex-Jalna | 12-25 MM, IS 1786- 500 Fe | 31,700 | 31,600 | 31,900 | + 600 | 30,900 | 31,500 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 31,200 | 31,000 | 31,400 | + 500 | 30,600 | 30,700 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 32,300 | 32,200 | 32,500 | 0 | 32,700 | 33,800 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 31,000 | 30,900 | 31,200 | + 500 | 30,000 | 32,500 | |
| Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 30,800 | 30,700 | 31,100 | + 800 | 29,600 | 30,300 |
| Ex-Raipur | Wire Rod(5.5 MM) | 30,900 | 30,500 | 31,900 | + 1,000 | 29,200 | 30,900 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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