Indian Semi finished steel offers fell slightly – Sponge iron by INR 100-200/MT & Billet by INR 100-300/MT. As per market participants, the marginal decline in prices is on account of limited inquiries.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 30,800-34,900/MT (USD 435-493) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 20,800-22,000/MT (USD 293-311); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 7th December 2018 (Friday) INR to USD exchange rate stood at INR 70.81.
— ICEX (Indian Commodity Exchange Ltd) Jan’19 contract for STEELLONG today open at INR 34,790/MT & last traded (IST 18:31) at INR 34,510/MT.
— BSE Sensex closed at 35,673(+361) on Friday, as against last day (Thursday) at 35,312(-572).
— NSE Nifty50 index was closed today at 10,693(+92).
Raw Materials
— Indian Iron ore exports hit 7-month high in Nov’18 & was recorded at 0.83 MnT as against 0.42 MnT in Oct’18.
— JSW Steel’s iron ore purchases from Karnataka e-auctions increased significantly by more than doubled to 1.54 MnT in Nov’18 compared to 0.71 MnT in Oct’18.
— Raipur based Godawari Ispat concludes 75,000 MT pellets to local sponge manufacturers at INR 6,450-6,500/MT (Ex-Mill)- Sources
— Local manufacturers in Raigarh offered 60-14 Silico Manganese at around INR 69,000/MT ex-plant.
Semi Finished
— Jindal Steel has offered Pig iron (Steel grade) at INR 29,600/MT ex-plant, Raigarh, Panther shots (granulated pig iron) at INR 28,200/MT & Pooled iron at INR 27,500/MT ex-plant, Odisha.
— Jharkhand (Giridih & Bokaro) based pig iron producers are trading Steel grade at around INR 28,500-29,000/MT ex-plant & INR 29,200-29,300/MT FoR Durgapur.
— Indian Sponge iron export offers fall marginally by USD 5/MT W-o-W to USD 350-355/MT, CFR Chittagong. Offers for containerized Shredded scrap at USD 355-360/MT, CFR Chittagong.
— Raipur, Central India based Integrated plants offering Sponge P-DRI at INR 20,400-20,600/MT & Sponge DR CLO grade at INR 22,900-23,100/MT ex-plant
— A day before, few Raipur based smelters purchased FeM 80 C-DRI lumps from Odisha at INR 22,400/MT FoR Raipur
— Raigarh based Singhal Steel offered P-DRI at INR 19,600/MT ex-Raigarh, an official reported. Also, the company offered Billets at INR 31,800/MT FoR Raipur.
— Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 20,800/MT & Billet at INR 30,800/MT ex-plant.
— BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 20,200-20,300/MT ex-Bellary, an official reported.
— Apple Industries in Bellary (Karnataka) offered Sponge FeM 83+ P-DRI lump at INR 21,300/MT & Billet at INR 33,300/MT ex-plant.
Finished Long
— Raipur based wire rod manufacturers kept offers unaltered and trade discount through the manufacturers/suppliers slightly decrease at around INR 700-800/MT. The offers for 5.5mm wire rod is hovering around INR 38,800/MT ex-Raipur & INR 38,000-38,200/MT ex-Durgapur.
— Rashmi Metaliks offers reduced in wire rod and reported at INR 37,700/MT (5.5 mm), ex-Kharagpur.
— Mandi Gobindgarh, North India based ERW pipe manufacturers increased prices by INR 100/MT & offers reported at around INR 41,400/MT ex-plant & excluding GST.
Rebar (12 mm)
— Rathi Steels based in North region unchanged their offering at INR 39,350/MT.
— Raipur based – SPEED TMT unchanged their offering at INR 35,600/MT.
— Raigarh based Anjani Steels Limited (Radhe TMT) offering at INR 35,500/MT down by INR 100/MT.
— Gujarat based Shreeyam Power & Steel Industries Ltd. (National TMT) unchanged their offering at INR 38,200/MT FoR.
— Jalna based SRJ Peety Steels Pvt Ltd. (Shree Om) TMT unchanged their offering at INR 37,300/MT.
— West region based Bhagwati Ferro Metal (P) Ltd. unchanged their offering at INR 36,800/MT.
— Chennai based ARS Steel (Trusteel) unchanged their offering at INR 41,000/MT.
— East region based – Adhunik Alloys & Pvt Ltd. unchanged their offering Wire Rod (5.5 mm) at INR 38,000/MT, Rebar at INR 37,100/MT.
— East region based – Shakambhari Ispat & Power Ltd. offered Wire Rod 5.5 mm at INR 38,500/MT and TMT offering at INR 37,500/MT.
Note – Rebar (12 mm) prices mentioned above based on ex-work and excluding GST and changes are placed on day basis.
Reference prices as on 7th December 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 26,700 | 26,600 | 26,800 | – 100 | 26,800 | 27,100 |
| Ex-Mumbai | HMS(80:20) | 26,200 | 26,100 | 26,300 | 0 | 25,800 | 25,700 | |
| Ex-Chennai | HMS(80:20) | 24,900 | 24,800 | 25,000 | 0 | 25,900 | NA | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 21,400 | 21,300 | 21,500 | – 200 | 21,700 | 23,400 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 20,800 | 20,700 | 20,900 | 0 | 20,800 | 22,200 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 22,000 | 21,900 | 22,100 | + 100 | 21,900 | 22,900 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 20,800 | 20,700 | 20,800 | 0 | 20,500 | 21,600 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 20,400 | 20,300 | 20,500 | – 200 | 20,700 | 22,300 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 20,500 | 20,400 | 20,600 | 0 | 20,300 | 21,100 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 20,200 | 20,100 | 20,300 | 0 | 19,900 | 20,800 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 20,800 | 20,700 | 20,900 | 0 | 20,400 | 21,700 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 34,600 | 34,500 | 34,700 | – 300 | 34,200 | 36,300 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 31,300 | 31,200 | 31,300 | – 200 | 31,400 | 33,800 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 30,600 | 30,500 | 30,600 | – 100 | 30,500 | 32,800 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 31,100 | 31,000 | 31,100 | – 150 | 30,900 | 33,050 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 33,300 | 33,200 | 33,300 | – 100 | 33,100 | 34,000 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 34,900 | 34,800 | 35,000 | – 300 | 34,700 | 37,100 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 31,800 | 31,700 | 31,800 | – 100 | 31,700 | 34,000 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 30,800 | 30,700 | 30,900 | – 200 | 30,900 | 33,200 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 31,700 | 31,600 | 31,800 | – 200 | 31,300 | 33,700 | |
| Ex-Ahmedabad | 125×125 mm, IS 2831 | 33,800 | 33,700 | 33,900 | – 100 | 33,500 | 34,600 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 33,500 | 33,400 | 33,500 | – 100 | 33,300 | 34,300 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 33,400 | 33,300 | 33,500 | – 100 | 34,000 | 35,000 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 33,000 | 32,500 | 33,000 | 0 | 33,000 | 35,000 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 37,600 | 37,500 | 37,800 | – 200 | 37,300 | 39,100 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 37,000 | 36,800 | 37,200 | – 100 | 37,100 | 39,500 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 35,400 | 35,300 | 35,600 | – 100 | 35,100 | 36,400 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 36,600 | 36,400 | 36,800 | 0 | 36,400 | 37,600 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 37,600 | 37,500 | 37,800 | – 100 | 38,500 | NA | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 37,500 | 37,300 | 37,700 | 0 | 37,000 | 38,500 | |
| Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 38,000 | 37,800 | 38,200 | – 200 | 38,200 | 40,100 |
| Ex-Raipur | Wire Rod(5.5 MM) | 38,800 | 38,000 | 38,800 | 0 | 38,500 | 40,400 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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