Indian steel market remain on down trend and the prices drop by around INR 100-600/MT (upto USD 9) on day trade activities. The participants reported limited spot trades, resulting significant fall in prices.
As per assessment, the Rebar & Billet prices declined by INR 100-600/MT, meanwhile sponge iron prices fall by INR 100-300/MT, day-on-day, through the mid size mills.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 30,200-33,400/MT (USD 431-477) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 19,800-21,200/MT (USD 282-303); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 21st December 2018 (Friday) INR to USD exchange rate stood at INR 70.12.
— ICEX (Indian Commodity Exchange Ltd) Jan’19 contract for STEELLONG today open at INR 33,160/MT & last traded (IST 18:31) at INR 32,750/MT.
— BSE Sensex closed at 35,742(-689) on Friday, as against last day (Thursday) at 36,431(-52).
— NSE Nifty50 index was closed today at 10,754(-197).
Raw Materials
— Odisha’s Serajuddin mine further cuts iron ore prices by INR 300-400/MT for bulk bookings. Miners’ iron ore production has increased post resumption of operations at its closed pit.
— Indian crude steel output inch down by 3% to 8.49 MnT in Nov’18 which was 8.77 MnT in Oct’18.
— Melting scrap offers in Western India- Gujarat declined by INR 300/MT in a day trade activities.
Semi Finished
— In West Bengal – Durgapur, big manufacturers have decreased sponge prices by INR 300/MT D-o-D; offering P-DRI at INR 18,600-18,800/MT.
— Aloke Steel Industries (Jharkhand) offered Fem 78-80 C-DRI lumps at INR 20,800/MT & Sponge mix material (60:40) at INR 20,500/MT ex-plant
— Raipur, Central India based Integrated plants offers decreased by INR 200-300/MT, offering Sponge P-DRI at INR 19,500-19,600/MT & Sponge DR CLO grade at INR 22,200-22,400/MT ex-plant.
— Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 20,000/MT & Billet at INR 30,300/MT ex-plant.
— BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 19,700-19,800/MT ex-Bellary.
— BIOP Steels in South India has kept offers unaltered; offering FeM 80 & 82 C-DRI lumps at INR 20,200/MT & INR 20,600/MT ex-plant, Karnataka; an official reported.
— South India (Telangana) based Cauvery Iron & Steel offers FeM 80 P-DRI & Billet at INR 20,300/MT & INR 32,000/MT. Also offered 28 MM Rebar at INR 34,000/MT. All prices are ex-plant & excluding GST.
Wire Rod & Pipe
— Raipur based wire rod manufacturers kept offers unchanged and trade discount through the manufacturers/suppliers almost stable at INR 1,000-1,200/MT. The offers for 5.5mm wire rod is hovering around INR 38,400/MT ex-Raipur & INR 36,500-36,700/MT ex-Durgapur.
— Rashmi Metaliks offers reduced in wire rod and reported at INR 36,500/MT (5.5mm), ex-Kharagpur, eastern India.
— Mandi Gobindgarh, North India based ERW pipe manufacturers reduced prices by INR 100/MT & offers reported at around INR 39,800-40,000/MT ex-plant & excluding GST.
— Hyderabad (South India) based Hari Om Pipe Industries Ltd has offered ERW Pipe at around INR 40,000/MT ex-plant. (basic & excluding GST).
Rebar (12 mm)
— Rathi Steels in North region offering at around INR 38,200/MT.
— Raipur based – SPEED TMT offering at INR 35,000/MT, down by INR 600/MT.
— Gujarat based, Keyur Ispat Ltd unchanged their offering at INR 38,400/MT.
— Jalna based Rajuri Steel Pvt Ltd offering at INR 37,200/MT, down by INR 300/MT.
— Jalna based SRJ Peety Steels Pvt Ltd (Shree Om) TMT offering at INR 36,800/MT, down by INR 200/MT.
— Chennai based ARS Steel (ARS 500 D) offering at INR 41,000/MT.
— East region based – Baba Smelter Pvt. Ltd offering Structure at INR 38,250/MT (150 Channel), down by INR 500/MT.
Note – The prices mentioned above are ex-works, excluding GST & changes are on day basis.
Reference prices as on 21st December 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 26,200 | 26,100 | 26,300 | – 300 | 26,400 | 27,000 |
| Ex-Mumbai | HMS(80:20) | 25,200 | 25,100 | 25,300 | – 300 | 25,800 | 26,500 | |
| Ex-Chennai | HMS(80:20) | 24,000 | 23,900 | 24,200 | – 100 | 24,600 | 26,300 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 20,000 | 19,900 | 20,100 | – 300 | 20,200 | 22,350 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 19,900 | 19,800 | 20,000 | – 100 | 20,400 | 21,600 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 21,200 | 21,100 | 21,300 | – 200 | 21,500 | 22,300 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 20,000 | 19,900 | 20,100 | 0 | 20,300 | 20,800 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 18,700 | 18,600 | 18,800 | – 300 | 19,200 | 21,350 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 19,550 | 19,500 | 19,600 | – 250 | 20,000 | 20,750 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,600 | 19,500 | 19,700 | 0 | 19,600 | 20,300 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 20,400 | 20,300 | 20,500 | – 100 | 20,600 | 20,800 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 33,000 | 32,900 | 33,100 | – 500 | 34,000 | 34,850 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 30,000 | 29,900 | 30,100 | – 100 | 30,500 | 32,100 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 29,700 | 29,600 | 29,800 | – 100 | 30,000 | 31,400 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 30,300 | 30,200 | 30,300 | + 100 | 30,600 | 31,850 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 32,900 | 32,900 | 33,000 | – 400 | 32,900 | 33,500 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 33,100 | 33,000 | 33,200 | – 500 | 34,300 | 35,450 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 30,500 | 30,400 | 30,600 | – 250 | 31,000 | 32,500 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 30,200 | 30,100 | 30,300 | – 200 | 30,300 | 31,700 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 30,800 | 30,700 | 30,900 | – 200 | 31,250 | 32,300 | |
| Ex-Ahmedabad | 125×125 mm, IS 2831 | 33,150 | 33,100 | 33,200 | – 450 | 33,450 | 34,150 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 33,100 | 33,100 | 33,200 | – 400 | 33,200 | 33,700 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 33,400 | 33,300 | 33,500 | – 100 | 33,500 | 34,500 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 32,300 | 32,000 | 32,500 | 0 | 32,500 | 33,500 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 37,000 | 36,800 | 37,200 | – 400 | 37,200 | 38,200 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 35,500 | 35,300 | 35,700 | – 300 | 36,100 | 37,800 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 35,000 | 34,800 | 35,200 | – 600 | 35,200 | 35,700 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 36,500 | 36,300 | 36,700 | – 400 | 36,200 | 37,000 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 37,500 | 37,500 | 37,800 | 0 | 37,700 | 39,000 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 36,500 | 36,300 | 36,700 | 0 | 37,000 | 38,000 | |
| Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 36,700 | 36,500 | 36,800 | – 300 | 37,300 | 38,600 |
| Ex-Raipur | Wire Rod(5.5 MM) | 38,400 | 37,400 | 38,400 | 0 | 37,800 | 39,100 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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