Indian steel market remain under pressure as prices continued down mode owing to lack of spot trades and as per daily assessment the prices dropped by INR 100-300/MT in major markets.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 27,600-31,200/MT (USD 397-450) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 16,800-17,900/MT (USD 242-258); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 25th June 2019 (Tuesday) INR to USD exchange rate stood at INR 69.35.
— ICEX (Indian Commodity Exchange Ltd) Jul’19 contract for STEELLONG today open at INR 30,450/MT & last traded (IST 18:22) at INR 30,160/MT.
— BSE Sensex closed at 39,434(+311) on Tuesday, as against last day (Monday) at 39,122(-71).
— NSE Nifty50 index was closed today at 11,796(+96) & Nifty Metal at 2,942(+50).
Raw Materials
— Durgapur (eastern India) based pellet makers have raised offers following hike in export offers. SteelMint’s reference pellet price assessment stands at INR 6,500/MT (delivered) up by INR 200-300/MT against INR 6,200-6,300/MT in last week.
— As per WSA (World Steel Association) India’s crude steel output moved up by 5% to 9.19 MnT in May’19 against 8.78 MnT in the preceding month.
— Melting scrap offers in Western India- Gujarat decline by INR 600/MT in a day trade activities.
Semi Finished
— Indian Sponge iron export offers is hovering at USD 280-285/MT CPT Benapole(dry port of India & Bangladesh), equivalent to USD 295-300/MT CNF Chittagong, Bangladesh.
— Indian induction grade Billet export offers to Nepal stood at around USD 410-412/MT ex-mill (Durgapur), this would be around USD 440/MT CNF Raxaul border, Nepal.
— Raipur based sponge manufacturers kept offers unchanged at INR 16,400-16,600/MT, however few deals learned at around INR 16,300-16,400/MT ex-plant.
— Jindal Steel has reduced prices and reported steel grade pig iron at INR 26,800-27,000/MT ex-Raigarh & panther shots(granulated pig iron) at INR 26,000-26,200/MT ex-plant, Angul, Odisha.
— Apple Industries in Bellary (Karnataka) offered Sponge FeM 83+ P-DRI lump at INR 18,000/MT & Billet at INR 29,400/MT ex-plant.
— BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 16,800/MT ex-Bellary, an official reported.
— BIOP Steels in South India has offered FeM 80 & 82 C-DRI lumps at INR 17,600/MT & INR 18,000/MT ex-plant, Karnataka; an official reported.
Wire Rod & Pipe
— Trade discounts in Raipur Wire rod remain healthier and reported at INR 1,700-1,900/MT through the re-sellers, however basic prices firm at INR 34,900/MT ex-plant.
— Mandi Gobindgarh, North India based ERW pipe manufacturers offers reported at around INR 37,600/MT ex-plant & excluding GST.
— Raipur, Central India based ERW pipe manufacturers offers reported at around INR 35,800/MT ex-plant & excluding GST.
Rebar (12 mm)
— Rathi Steels based in North region has unchanged their offer at INR 36,400/MT (ex-Delhi).
— Raipur based – SPEED TMT is offering at INR 32,800/MT(down by INR 500/MT)
— Real Ispat (GK TMT) has unchanged their offer at INR 35,700/MT.
— Raigarh based Anjani Steels Ltd. (Radhe TMT) is offering at INR 33,100/MT.
— Raigarh based Scan Group branding (Shrishti TMT) is offering at INR 33,100/MT(down by INR 300/MT).
— Gujarat based Shreeyam Power & Steel Industries Ltd. (National TMT) is offering at INR 34,900/MT FoR(down by INR 900/MT).
— Jalna based Bhagyalaxmi Rolling Mill Pvt Ltd (Polaad TMT) has unaltered their offers at INR 33,800/MT.
— Jalna based SRJ Peety Steels Pvt Ltd (Shree Om) is offering at INR 33,800/MT.
— Chennai based Sakthi Ferro Alloys India Pvt. Ltd. (SSI TMT) is currently offering at INR 35,700/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 25th June 2019
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 23,600 | 23,500 | 23,700 | – 600 | 25,600 | 25,500 |
| Ex-Mumbai | HMS(80:20) | 23,000 | 22,800 | 23,000 | – 300 | 24,300 | 24,800 | |
| Ex-Chennai | HMS(80:20) | 22,100 | 22,000 | 22,300 | – 100 | 22,400 | 23,600 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 17,900 | 17,800 | 18,000 | 0 | 17,950 | 19,500 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 16,900 | 16,800 | 16,900 | + 100 | 17,600 | 18,750 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 17,300 | 17,200 | 17,400 | 0 | 17,800 | 19,700 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 17,300 | 17,200 | 17,400 | 0 | 17,800 | 19,000 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 16,900 | 16,800 | 17,000 | 0 | 16,950 | 18,300 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 16,400 | 16,300 | 16,500 | 0 | 16,700 | 18,600 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 16,800 | 16,700 | 16,900 | 0 | 17,300 | 18,800 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 17,300 | 17,200 | 17,300 | – 100 | 17,900 | 19,400 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 31,000 | 30,900 | 31,100 | 0 | 32,500 | 33,700 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 28,400 | 28,300 | 28,500 | 0 | 29,300 | 31,100 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 27,100 | 27,000 | 27,200 | + 100 | 28,300 | 30,100 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 27,650 | 27,600 | 27,700 | – 50 | 28,600 | 30,700 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 29,400 | 29,300 | 29,500 | 0 | 30,500 | 31,700 | |
| Billet | Ex-Mandi Gobindgarh | 100×100 mm, IS 2831 | 31,200 | 31,100 | 31,300 | 0 | 32,700 | 34,100 |
| Ex-Durgapur | 100×100 mm, IS 2831 | 28,900 | 28,800 | 29,000 | 0 | 29,800 | 31,500 | |
| Ex-Rourkela | 100×100 mm, IS 2831 | 27,600 | 27,500 | 27,700 | + 100 | 28,700 | 30,600 | |
| Ex-Raipur | 100×100 mm, IS 2831 | 28,300 | 28,200 | 28,400 | – 200 | 29,200 | 31,200 | |
| Ex-Ahmedabad | 100×100 mm, IS 2831 | 30,100 | 30,000 | 30,200 | – 200 | 31,850 | 32,150 | |
| Ex-Mumbai | 100×100 mm, IS 2831 | 29,600 | 29,500 | 29,700 | 0 | 30,700 | 32,000 | |
| Ex-Chennai | 100×100 mm, IS 2831 | 30,100 | 30,000 | 30,200 | + 50 | 30,300 | 31,900 | |
| Ex-Hyderabad | 100×100 mm, IS 2831 | 29,000 | 28,900 | 29,100 | 0 | 29,800 | 31,700 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 35,800 | 35,600 | 36,000 | – 100 | 36,600 | 37,200 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 33,600 | 33,400 | 33,800 | 0 | 34,600 | 36,600 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 32,800 | 32,600 | 32,900 | – 300 | 33,800 | 35,200 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 32,900 | 32,800 | 33,100 | – 100 | 33,900 | 35,000 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 35,100 | 35,100 | 35,400 | 0 | 35,700 | 36,700 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 33,000 | 32,800 | 33,200 | 0 | 34,000 | 35,700 | |
| Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 33,500 | 33,300 | 33,800 | 0 | 34,500 | 36,800 |
| Ex-Raipur | Wire Rod(5.5 MM) | 34,100 | 33,200 | 34,900 | 0 | 34,900 | 36,500 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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