Indian steel prices remain softened owing to limited domestic inquiries and as per assessment it registered fall of INR 100-200/MT day on day, through the mid sized mills in major markets.
The participants have mentioned that, inventories are healthier with the Sponge iron & Rebar mills, this has resulted constant drop in prices since more than a week’s duration.
Officials from few of large mills stated limited trades, hence are planning to float trade discounts to escalate trade volumes.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 30,400-34,000/MT (USD 431-482) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 18,500-19,500/MT (USD 262-277); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 14th May 2019 (Tuesday) INR to USD exchange rate stood at INR 70.45.
— ICEX (Indian Commodity Exchange Ltd) Jun’19 contract for STEELLONG today open at INR 33,510/MT & last traded (IST 18:13) at INR 33,460/MT.
— BSE Sensex closed at 37,318(+227) on Tuesday, as against last day (Monday) at 37,090(-372).
— NSE Nifty50 index was closed today at 11,222(+73).
Raw Materials
— Jindal SAW (Rajasthan) increased pellet offers by INR 150/MT(USD 2). Offers for Fe 63% grade pellets are assessed around INR 8,450/MT (delivered Kandla) against last weeks’s assessment of INR 8,300/MT.
— Imported scrap offers to India for HMS (80:20) Europe origin containers stood at around USD 307/MT, CFR Nhava Sheva.
— South African RB2 (5500 NAR) coal offers are assessed at USD 59.22/MT on FoB basis & USD 72.22/MT CNF India.
Semi Finished
— Durgapur, eastern India based mills reduced export offers to Nepal and reported Billet(100*100 mm) at around USD 440/MT & Wire rod (5.5 mm) at USD 520-530/MT ex-mill. Freight cost to Nepal at USD 25-30/MT CNF Raxaul border (Nepal).
— Mesco Steels in Jajpur, Odisha has maintained pig iron prices and reported steel grade at INR 27,000-27,100/MT ex-plant.
— Jindal Steel is offering granulated pig iron at INR 26,600-26,800/MT ex-Angul(Odisha) & steel grade pig iron at INR 28,000-28,200/MT ex-Raigarh. As per officials bulk deals concluded at this price range.
— Raipur, Central India based Integrated plants offers increased by INR 100-200/MT, offering Sponge P-DRI at INR 18,300-18,500/MT & Sponge DR CLO grade at INR 20,400-20,600/MT ex-plant.
— Odisha based manufacturer, KJS Ahluwalia offered billet at INR 30,400/MT ex-plant. And also offering FeM 80 Sponge mix material at INR 18,700/MT ex-plant.
— Raigarh based Singhal Steel offered P-DRI at INR 17,900/MT & Billet at INR 30,500/MT ex-Raigarh, officials reported.
— Shri Hari Sponge, an Odisha based plant offered FeM 80 sponge mix material at INR 18,500-18,600/MT ex-plant.
— Apple Industries in Bellary (Karnataka) offered Sponge FeM 83+ P-DRI lump at INR 19,500/MT & Billet at INR 31,300/MT ex-plant.
— BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 18,400/MT ex-Bellary; an official reported.
— BIOP Steels in South India has kept offers unaltered; offering FeM 80 & 82 C-DRI lumps at INR 19,000/MT & INR 19,400/MT ex-plant, Karnataka; an official reported.
Wire Rod & Pipe
— Indian Govt further extends Anti Dumping Duty on Ductile Iron (DI) Pipe imports from China till 23 Jun’19
— Trade discounts in Raipur Wire rod reduced by INR 300/MT to INR 1,000-1,200/MT following drop in basic price by INR 500/MT to INR 37,200/MT ex-plant. Meanwhile base price being plunge in Durgapur by INR 100-200/MT to INR 36,500-37,200/MT ex-plant.
— Raipur, Central India based ERW pipe manufacturers decreased prices by INR 300/MT & offers reported at around INR 37,500/MT ex-plant & excluding GST.
— Mandi Gobindgarh, North India based ERW pipe manufacturers offers reported at around INR 39,800/MT ex-plant & excluding GST.
Rebar (12 mm)
— Rathi Steels based in North region is offering around INR 38,000/MT (ex-Delhi).
— Raipur based – SPEED TMT has unchanged their offers at INR 35,300/MT.
— Real Ispat (GK TMT) is offering at INR 37,300/MT (down by INR 500/MT).
— Raigarh based Anjani Steels Ltd. (Radhe TMT) has kept offers unchanged 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 unaltered their offers at INR 36,700/MT.
— Jalna based Rajuri Steel Pvt. Ltd. (Rajuri) TMT has unchanged their offers at INR 36,500/MT.
— Chennai based Ponneri Steel Ind. (Triple Power) is offering at INR 37,700/MT.
— Chennai based Kamachi Industries Ltd. (KAMACHI TMT) is offering at INR 38,500/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 14th May 2019
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 25,600 | 25,500 | 25,700 | – 300 | 26,000 | 26,100 |
| Ex-Mumbai | HMS(80:20) | 25,000 | 24,900 | 25,200 | + 100 | 25,300 | 25,200 | |
| Ex-Chennai | HMS(80:20) | 23,500 | 23,300 | 23,700 | – 100 | 23,900 | 24,600 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 18,700 | 18,600 | 18,800 | 0 | 19,000 | 20,400 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 18,550 | 18,500 | 18,600 | – 100 | 18,800 | 18,800 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 19,500 | 19,400 | 19,600 | – 100 | 19,900 | 19,900 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 18,900 | 18,800 | 19,000 | – 100 | 19,200 | 19,900 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 17,500 | 17,400 | 17,600 | 0 | 17,800 | 19,100 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 18,400 | 18,300 | 18,500 | – 150 | 18,800 | 18,700 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 18,400 | 18,300 | 18,500 | – 100 | 18,800 | 19,500 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 19,000 | 18,900 | 19,100 | – 100 | 19,300 | 20,000 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 33,700 | 33,600 | 33,800 | – 100 | 34,100 | 34,500 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 30,900 | 30,800 | 31,000 | – 100 | 31,300 | 31,600 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 30,000 | 29,900 | 30,100 | – 100 | 30,600 | 31,000 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 30,350 | 30,300 | 30,400 | – 200 | 30,850 | 31,000 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 32,600 | 32,500 | 32,700 | – 100 | 33,000 | 32,750 | |
| Billet | Ex-Mandi Gobindgarh | 100×100 mm, IS 2831 | 34,000 | 33,900 | 34,100 | – 200 | 34,500 | 34,900 |
| Ex-Durgapur | 100×100 mm, IS 2831 | 31,400 | 31,300 | 31,500 | 0 | 31,600 | 32,000 | |
| Ex-Rourkela | 100×100 mm, IS 2831 | 30,400 | 30,300 | 30,500 | – 100 | 31,000 | 31,200 | |
| Ex-Raipur | 100×100 mm, IS 2831 | 30,900 | 30,800 | 31,000 | – 200 | 31,500 | 31,700 | |
| Ex-Ahmedabad | 100×100 mm, IS 2831 | 32,000 | 31,900 | 32,100 | – 100 | 32,400 | 33,300 | |
| Ex-Mumbai | 100×100 mm, IS 2831 | 32,900 | 32,800 | 33,000 | – 200 | 33,300 | 33,000 | |
| Ex-Chennai | 100×100 mm, IS 2831 | 31,600 | 31,500 | 31,700 | – 200 | 32,000 | 33,200 | |
| Ex-Hyderabad | 100×100 mm, IS 2831 | 31,500 | 31,500 | 31,600 | 0 | 32,000 | 33,000 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 37,000 | 36,800 | 37,200 | – 100 | 37,700 | 38,200 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 36,500 | 36,300 | 36,700 | 0 | 36,800 | 37,400 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 35,000 | 35,000 | 35,300 | – 100 | 35,400 | 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 | 0 | 37,200 | 37,800 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 35,200 | 35,000 | 35,400 | – 100 | 35,800 | 36,700 | |
| Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 36,800 | 36,500 | 37,200 | – 100 | 37,300 | 37,600 |
| Ex-Raipur | Wire Rod(5.5 MM) | 37,200 | 36,000 | 37,200 | – 500 | 37,900 | 38,700 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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