Indian steel prices drop by INR 100-500/MT (upto USD 7) on day trade activities following limited spot trades, as reported by participants.
The Rebar & Billet prices fell majorly in Southern India – Hyderabad by INR 400-500/MT, while in remaining markets it down by INR 100-200/MT on slow down trades.
In line Sponge iron, prices more or less firm in major locations except in Durgapur & Bellary where it declined by INR 100/MT, day on day.
Participants believe that, Semis prices to volatile further on account of average supply and subdued demand amid steady raw materials.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 30,500-34,200/MT (USD 432-485) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 18,600-19,600/MT (USD 263-278); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 13th May 2019 (Monday) INR to USD exchange rate stood at INR 70.54.
— ICEX (Indian Commodity Exchange Ltd) Jun’19 contract for STEELLONG today open at INR 33,670/MT & last traded (IST 18:19) at INR 33,530/MT.
— BSE Sensex closed at 37,090(-372) on Monday, as against last day (Friday) at 37,462(-95).
— NSE Nifty50 index was closed today at 11,148(-130).
Raw Materials
— According to the latest assessment of Coking coal, spot prices of the Premium HCC are reported at around USD 212.5/MT FoB Australia & USD 224.7/MT CNF India.
Semi Finished
— Officials from Neo Metaliks in Durgapur reported weak demand at the offers for steel grade pig iron at INR 28,000/MT ex-plant.
— Raipur, Central India based Integrated plants offering Sponge P-DRI at INR 18,500-18,700/MT & Sponge DR CLO grade at INR 20,500-20,700/MT ex-plant.
— Raigarh based Singhal Steel offered P-DRI at INR 18,000/MT & Billet at INR 30,700/MT ex-Raigarh, officials reported.
— Govindam Sponge, an Odisha based plant offered FeM 80 sponge mix material at INR 18,700-18,800/MT ex-plant.
— BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 18,500/MT ex-Bellary; an official reported.
— BIOP Steels in South India has offered FeM 80 & 82 C-DRI lumps at INR 19,000/MT & INR 19,400/MT ex-plant, Karnataka; an official reported.
Wire Rod & Pipe
— Trade discounts in Raipur Wire rod rally on falling Billet prices and it reported at INR 1,300-1,500/MT, however basic prices firm at INR 37,700/MT ex-plant.
— Bokaro, Jharkhand based Electrosteels Ltd has reduced Wire rod prices by INR 1,000/MT to INR 41,000/MT (ex-plant) for low carbon.
— Hyderabad (South India) based manufacturer Mahalakshmi Profiles Pvt. Ltd (MPL) has offered ERW Pipe at INR 39,900/MT ex-plant. (basic & excluding GST).
Rebar (12 mm)
— Rathi Steels based in North region is offering around INR 38,200/MT (ex-Delhi).
— Raipur based – SPEED TMT has unchanged their offers at INR 35,300/MT.
— Real Ispat (GK TMT) has unchanged their offers at INR 37,800/MT.
— Raigarh based Anjani Steels Ltd. (Radhe TMT) has unchanged their offers at INR 35,500/MT.
— Jalna based Bhagyalaxmi Rolling Mill Pvt Ltd (Polaad TMT) has unchanged their offers at INR 36,600/MT.
— Jalna based SRJ Peety Steels Pvt Ltd (Shree Om) has unchanged their offers at INR 36,700/MT.
— Mumbai based Guardian Castings Pvt. Ltd. (Guardian TMT) has unchanged their offers at INR 36,400/MT.
— Mumbai based Vistar Metal Ind. Pvt. Ltd. (Vistar TMT) is offering at INR 36,300/MT (down by INR 200/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 13th May 2019.
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 25,900 | 25,800 | 26,000 | – 200 | 26,400 | 25,800 |
| Ex-Mumbai | HMS(80:20) | 24,900 | 24,800 | 25,100 | 0 | 25,300 | 25,200 | |
| Ex-Chennai | HMS(80:20) | 23,600 | 23,400 | 23,800 | 0 | 24,200 | 24,600 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 18,700 | 18,600 | 18,800 | – 100 | 19,200 | 20,300 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 18,650 | 18,600 | 18,700 | – 50 | 18,900 | 18,800 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 19,600 | 19,500 | 19,700 | 0 | 20,000 | 19,800 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,000 | 18,900 | 19,100 | 0 | 19,200 | 19,800 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 17,500 | 17,400 | 17,600 | – 100 | 18,000 | 19,000 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 18,550 | 18,500 | 18,600 | 0 | 18,900 | 18,750 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 18,500 | 18,400 | 18,600 | – 100 | 18,800 | 19,400 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 19,100 | 19,000 | 19,200 | – 100 | 19,300 | 19,900 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 33,800 | 33,700 | 33,900 | – 100 | 34,500 | 34,600 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 31,000 | 30,900 | 31,100 | – 100 | 31,500 | 31,600 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 30,100 | 30,000 | 30,200 | – 150 | 30,700 | 30,800 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 30,550 | 30,500 | 30,600 | – 50 | 31,050 | 31,100 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 32,700 | 32,600 | 32,800 | – 200 | 33,100 | 32,700 | |
| Billet | Ex-Mandi Gobindgarh | 100×100 mm, IS 2831 | 34,200 | 34,100 | 34,300 | – 100 | 34,800 | 35,000 |
| Ex-Durgapur | 100×100 mm, IS 2831 | 31,400 | 31,300 | 31,500 | – 100 | 31,850 | 32,000 | |
| Ex-Rourkela | 100×100 mm, IS 2831 | 30,500 | 30,400 | 30,600 | – 100 | 31,100 | 31,200 | |
| Ex-Raipur | 100×100 mm, IS 2831 | 31,100 | 31,000 | 31,200 | – 150 | 31,700 | 31,800 | |
| Ex-Ahmedabad | 100×100 mm, IS 2831 | 32,100 | 32,000 | 32,200 | – 200 | 33,000 | 33,250 | |
| Ex-Mumbai | 100×100 mm, IS 2831 | 33,100 | 33,000 | 33,200 | – 50 | 33,450 | 32,900 | |
| Ex-Chennai | 100×100 mm, IS 2831 | 31,800 | 31,800 | 32,000 | 0 | 32,100 | 33,200 | |
| Ex-Hyderabad | 100×100 mm, IS 2831 | 31,500 | 31,500 | 31,600 | – 500 | 32,200 | 33,000 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 37,100 | 37,000 | 37,300 | – 100 | 37,700 | 38,000 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 36,500 | 36,300 | 36,700 | 0 | 36,900 | 37,200 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 35,100 | 35,100 | 35,300 | 0 | 35,700 | 36,000 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 36,100 | 35,900 | 36,400 | 0 | 36,700 | 36,900 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 37,000 | 36,800 | 37,300 | – 100 | 37,400 | 37,900 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 35,300 | 35,000 | 35,500 | – 400 | 36,000 | 36,500 | |
| Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 36,900 | 36,700 | 37,300 | – 100 | 37,500 | 37,500 |
| Ex-Raipur | Wire Rod(5.5 MM) | 37,700 | 36,300 | 37,700 | 0 | 38,300 | 38,500 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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