Indian steel market observed further drop in prices in line with weak demand and strong supply. As per assessment the prices fell in the range of INR 100-600/MT, day on day, through the mid sized mills.
The sharp fall in Rebar & Billet prices observed in Southern region – Hyderabad by INR 500-600/MT, while prices in remaining markets slump by INR 100-300/MT as against last day assessment.
Similarly, Sponge iron prices declined by INR 100-300/MT across regions following drop in Billet prices.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 29,300-33,500/MT (USD 421-482) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 17,800-18,500/MT (USD 256-266); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 11th June 2019 (Tuesday) INR to USD exchange rate stood at INR 69.44.
— ICEX (Indian Commodity Exchange Ltd) Jul’19 contract for STEELLONG today open at INR 32,960/MT & last traded (IST 18:10) at INR 32,740/MT.
— BSE Sensex closed at 39,950(+165) on Tuesday, as against last day (Monday) at 39,784(+168).
— NSE Nifty50 index was closed today at 11,965(+42) & Nifty Metal at 2,950(+38).
Raw Materials
— JSW’s crude steel output stood at 1.453 MnT in May’19, moved up by 4% against 1.393 MnT in Apr’19.
— Indian coal imports from Australia have increased by 19.8% to 3.90 MnT in May’19, against 3.26 MnT in Apr’19.
— Indian met coke import prices are at firm level as compared to last week and assessed at around USD 349.50/MT for 64% CSR and the 62% CSR grades prices at around USD 335.5/MT on CNF India basis.
— Southern India (Bellary) based pellet makers have decreased pellet offers marginally to INR 7,000-7,200/MT as compared to last week assessment at INR 7,150/MT
— Melting scrap offers in Southern India- Chennai decline by INR 200/MT in a day trade activities.
Semi Finished
— Raipur based major plants have offered Sponge P-DRI at INR 17,300-17,400/MT, although small parcels have sold at near to INR 17,100-17,200/MT ex-plant.
— Central India, Raigarh based sponge manufacturer (900 TPD) has concluded a deal of CDRI mix material(0-20) at INR 18,500/MT FoR Raipur, an official reported.
— Odisha based manufacturer, KJS Ahluwalia offered billet at INR 29,500/MT ex-plant. And also offering FeM 80 Sponge mix material at INR 18,200/MT ex-plant.
— Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 18,300/MT & Billet at INR 29,500/MT ex-plant.
— BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 18,000/MT ex-Bellary, an official reported.
— Apple Industries in Bellary (Karnataka) offered Sponge FeM 83+ P-DRI lump at INR 19,300-19,400/MT & Billet at INR 30,800/MT ex-plant.
— Hyderabad, South India based steel manufacturers decreased their Billet offer by INR 500/MT to INR 30,500/MT. And offering 12 MM Rebar at around INR 34,200-34,500/MT. prices are ex-plant & excluding GST.
— BIOP Steels in South India has decreased sponge prices by INR 200/MT, offering FeM 80 & 82 C-DRI lumps at INR 18,400/MT & INR 18,800/MT ex-plant, Karnataka; an official reported.
Wire Rod & Pipe
— Trade discounts in Raipur Wire rod reduced by INR 200/MT to INR 1,300-1,500/MT due to reduce base price by INR 400/MT to INR 36,300/MT ex-plant. Similarly in Durgapur base prices of 5.5mm Wire rod fell by INR 300/MT to INR 35,200-35,800/MT ex-plant.
— Raipur, Central India based ERW pipe manufacturers offers reported at around INR 36,700/MT ex-plant & excluding GST. Offers decline by INR 400-500/MT D-o-D.
— Hyderabad (South India) based manufacturer Mahalakshmi Profiles Pvt. Ltd (MPL) has offered ERW Pipe at INR 39,400/MT ex-plant. (basic & excluding GST). Offers decline by INR 500/MT D-o-D.
Rebar (12 mm)
— Raipur based – SPEED TMT is offering at INR 34,100/MT (down by INR 400/MT).
— Real Ispat (GK TMT) is offering at INR 36,600/MT (down by INR 400/MT).
— Raigarh based Scan Group branding (Shrishti TMT) is offering at INR 34,400/MT.
— Gujarat based Shreeyam Power & Steel Industries Ltd. (National TMT) is offering at INR 35,700/MT FoR (down by INR 200/MT).
— Jalna based SRJ Peety Steels Pvt Ltd (Shree Om) has unchanged their offers at INR 35,500/MT.
— Jalna based Rajuri Steel Pvt. Ltd. (Rajuri) TMT has unchanged their offers at INR 35,500/MT.
— South region based – VRKP Steel Industry Pvt Ltd – (VRKP TMT) is offering at INR 36,900/MT (down by INR 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 11th June 2019
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 25,700 | 25,600 | 25,800 | 0 | 25,700 | 25,600 |
| Ex-Mumbai | HMS(80:20) | 24,600 | 24,500 | 24,700 | – 200 | 24,800 | 25,000 | |
| Ex-Chennai | HMS(80:20) | 23,300 | 23,100 | 23,500 | – 200 | 23,400 | 23,500 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 18,450 | 18,400 | 18,500 | – 250 | 19,500 | 18,700 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 18,100 | 18,000 | 18,200 | – 100 | 18,650 | 18,550 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 18,400 | 18,300 | 18,500 | – 300 | 19,500 | 19,500 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 18,400 | 18,300 | 18,500 | – 100 | 19,000 | 18,900 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 17,450 | 17,400 | 17,500 | – 250 | 18,500 | 17,500 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 17,200 | 17,100 | 17,300 | – 200 | 18,200 | 18,400 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 17,900 | 17,800 | 18,000 | – 100 | 18,600 | 18,400 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 18,400 | 18,300 | 18,500 | – 200 | 19,200 | 19,000 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 33,000 | 33,000 | 33,100 | – 450 | 34,200 | 33,700 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 30,000 | 29,900 | 30,100 | – 200 | 31,100 | 30,900 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 28,900 | 28,800 | 29,000 | – 500 | 30,150 | 30,000 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 29,000 | 28,900 | 29,100 | – 500 | 30,500 | 30,350 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 31,400 | 31,300 | 31,500 | – 100 | 31,500 | 32,600 | |
| Billet | Ex-Mandi Gobindgarh | 100×100 mm, IS 2831 | 33,500 | 33,400 | 33,600 | – 300 | 34,600 | 34,000 |
| Ex-Durgapur | 100×100 mm, IS 2831 | 30,500 | 30,400 | 30,600 | – 150 | 31,400 | 31,400 | |
| Ex-Rourkela | 100×100 mm, IS 2831 | 29,450 | 29,400 | 29,500 | – 350 | 30,600 | 30,400 | |
| Ex-Raipur | 100×100 mm, IS 2831 | 29,700 | 29,600 | 29,800 | – 350 | 31,100 | 30,900 | |
| Ex-Ahmedabad | 100×100 mm, IS 2831 | 32,150 | 32,100 | 32,200 | – 50 | 32,700 | 32,000 | |
| Ex-Mumbai | 100×100 mm, IS 2831 | 31,600 | 31,500 | 31,700 | – 150 | 31,700 | 32,900 | |
| Ex-Chennai | 100×100 mm, IS 2831 | 31,000 | 30,800 | 31,100 | – 200 | 31,600 | 31,600 | |
| Ex-Hyderabad | 100×100 mm, IS 2831 | 30,400 | 30,300 | 30,500 | – 600 | 31,500 | 31,500 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 37,000 | 36,900 | 37,300 | 0 | 37,400 | 37,000 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 35,300 | 35,100 | 35,500 | – 200 | 36,300 | 36,500 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 34,000 | 34,100 | 34,200 | – 300 | 35,100 | 35,000 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 34,300 | 34,200 | 34,500 | – 100 | 34,800 | 36,100 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 36,000 | 35,900 | 36,200 | – 200 | 36,500 | 37,000 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 34,300 | 34,200 | 34,500 | – 500 | 35,500 | 35,200 | |
| Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 35,500 | 35,200 | 35,800 | – 300 | 36,500 | 36,800 |
| Ex-Raipur | Wire Rod(5.5 MM) | 35,500 | 34,800 | 36,300 | – 300 | 36,700 | 37,200 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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