Indian Rebar & Billet prices fluctuated by INR 100-200/MT today after a significant rise since beginning of week. In line Sponge iron, prices slightly moved up by INR 100/MT day on day due to rising raw materials amid short supply.
Sources mentioned that there was less trades reported and demand-supply situations was moderate today as election results are scheduled tomorrow (23rd May’19) which may clear the market trends in near term.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 31,100-34,800/MT (USD 446-499) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 19,000-19,900/MT (USD 272-286); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 22nd May 2019 (Wednesday) INR to USD exchange rate stood at INR 69.75.
— ICEX (Indian Commodity Exchange Ltd) Jun’19 contract for STEELLONG today open at INR 34,120/MT & last traded (IST 18:09) at INR 34,170/MT.
— BSE Sensex closed at 39,110(+140) on Wednesday, as against last day (Tuesday) at 38,969(-382).
— NSE Nifty50 index was closed today at 11,737(+28).
Raw Materials
— Sourced reported, Odisha based pellet manufacturer has concluded pellet export deal of 50,000 MT with Fe content 64/ 63% at around USD 121/MT, CFR China for June shipments.
— According to the latest assessment of Coking coal, spot prices of the Premium HCC are reported at around USD 209.5/MT FoB Australia & USD 221.6/MT CNF India.
— Imported scrap offers to India for HMS (80:20) Europe origin containers stood at around USD 310/MT, CFR Nhava Sheva.
Semi Finished
— SAIL’s Rourkela Steel Plant tender held today (22nd May’19) to sell about 6,500 MT steel grade pig iron & had received good response. The base price for the tender was quoted by RSP at INR 27,250/MT and near about 49% (3,100-3,200 MT) material sold.
— Private mills have maintained pig iron prices, latest offers for Steel grade through Neo Metaliks reported at INR 27,800-28,000/MT ex-Durgapur & by Mesco Steels at INR 26,900-27,000/MT ex-Jajpur, Odisha.
— Durgapur based Rashmi Metaliks has keep sponge P-DRI prices unchanged at INR 18,600/MT.
— Raipur based Integrated plants have raised sponge P-DRI prices by INR 100/MT to INR 19,000-19,100/MT ex-plant. As per sources, regular bookings received.
— Aloke Steel Industries (Jharkhand) offered Fem 78-80 C-DRI lumps at INR 19,500/MT & Sponge mix material (60:40) at INR 19,200/MT ex-plant.
— Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 19,000/MT & Billet at INR 31,000/MT ex-plant. Offers unchanged for the day.
— BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 19,000/MT ex-Bellary, offers incline by INR 300/MT from the last trade; an official reported.
— BIOP Steels in South India has kept offers unaltered; offering FeM 80 & 82 C-DRI lumps at INR 19,200/MT & INR 19,600/MT ex-plant, Karnataka; an official reported.
Wire Rod & Pipe
— Trade discounts in Raipur Wire rod increased by INR 200/MT to INR 800-1,000/MT, although basic prices steady at INR 37,700/MT ex-plant. However in Durgapur basic offers moved up further by INR 200-300/MT to INR 37,400-38,200/MT ex-plant.
— Raipur, Central India based ERW pipe manufacturers offers reported at around INR 38,200/MT ex-plant & excluding GST. Offers rise by INR 300/MT D-o-D.
— Hyderabad (South India) based manufacturer Mahalakshmi Profiles Pvt. Ltd (MPL) has offered ERW Pipe at INR 40,100/MT ex-plant. (basic & excluding GST).
— Mandi Gobindgarh, North India based ERW pipe manufacturers offers reported at around INR 40,500/MT ex-plant & excluding GST.
Rebar (12 mm)
— Raipur based – SPEED TMT has unchanged their offers at INR 35,600/MT.
— Real Ispat (GK TMT) has unchanged their offers at INR 37,700/MT.
— Raigarh based Scan Group branding – Shrishti TMT is offering at INR 35,900/MT.
— Gujarat based Shreeyam Power & Steel Industries Ltd. (National TMT) is offering at INR 37,500/MT FoR.
— Jalna based Kalika Steels Alloys Pvt. Ltd. (Kalika TMT) has unchanged their offers at INR 37,100/MT.
— Chennai based Ponneri Steel Ind. (Triple Power) has unchanged their offers at INR 37,300/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 May 2019.
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 26,400 | 26,300 | 26,500 | + 200 | 25,600 | 27,000 |
| Ex-Mumbai | HMS(80:20) | 25,000 | 24,800 | 25,000 | – 100 | 24,900 | 25,000 | |
| Ex-Chennai | HMS(80:20) | 23,500 | 23,400 | 23,700 | – 100 | 23,500 | 24,400 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 19,800 | 19,700 | 19,900 | + 100 | 18,700 | 19,600 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 19,100 | 19,000 | 19,200 | + 100 | 18,500 | 18,700 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 19,900 | 19,800 | 20,000 | 0 | 19,400 | 19,600 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,200 | 19,100 | 19,300 | + 100 | 18,800 | 19,500 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 18,600 | 18,500 | 18,700 | 0 | 17,500 | 18,400 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 19,000 | 18,900 | 19,100 | + 100 | 18,300 | 18,600 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 18,800 | 18,700 | 18,900 | + 200 | 18,300 | 19,200 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 19,200 | 19,100 | 19,300 | + 100 | 18,900 | 19,700 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 34,400 | 34,300 | 34,500 | – 150 | 33,550 | 33,900 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 31,500 | 31,400 | 31,600 | – 200 | 30,800 | 31,300 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 30,650 | 30,600 | 30,700 | – 50 | 30,000 | 30,600 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 31,050 | 31,000 | 31,100 | – 50 | 30,300 | 30,850 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 32,500 | 32,400 | 32,600 | – 100 | 32,400 | 33,200 | |
| Billet | Ex-Mandi Gobindgarh | 100×100 mm, IS 2831 | 34,800 | 34,700 | 34,900 | – 100 | 33,800 | 34,300 |
| Ex-Durgapur | 100×100 mm, IS 2831 | 32,000 | 31,900 | 32,100 | – 200 | 31,300 | 31,600 | |
| Ex-Rourkela | 100×100 mm, IS 2831 | 31,100 | 31,000 | 31,100 | + 50 | 30,300 | 30,900 | |
| Ex-Raipur | 100×100 mm, IS 2831 | 31,700 | 31,600 | 31,800 | – 100 | 30,900 | 31,450 | |
| Ex-Ahmedabad | 100×100 mm, IS 2831 | 33,150 | 33,100 | 33,200 | – 50 | 31,700 | 34,000 | |
| Ex-Mumbai | 100×100 mm, IS 2831 | 32,800 | 32,700 | 32,900 | – 200 | 32,600 | 33,400 | |
| Ex-Chennai | 100×100 mm, IS 2831 | 31,850 | 31,800 | 31,900 | – 150 | 31,500 | 32,900 | |
| Ex-Hyderabad | 100×100 mm, IS 2831 | 32,000 | 31,900 | 32,100 | – 300 | 31,500 | 32,300 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 37,800 | 37,800 | 38,100 | 0 | 37,000 | 37,600 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 37,300 | 37,100 | 37,500 | + 200 | 36,300 | 37,000 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 35,400 | 35,300 | 35,600 | 0 | 34,900 | 35,700 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 35,900 | 35,700 | 36,300 | 0 | 35,900 | 36,900 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 36,900 | 36,700 | 37,100 | 0 | 37,000 | 37,700 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 36,000 | 35,800 | 36,200 | 0 | 35,200 | 36,200 | |
| Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 37,700 | 37,400 | 38,200 | + 200 | 36,700 | 37,000 |
| Ex-Raipur | Wire Rod(5.5 MM) | 37,200 | 36,700 | 37,700 | 0 | 37,200 | 37,900 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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