Indian mid sized steel mills have slightly lower their offers by INR 100-300/MT after a rise in same proportion last day amid average trade inquiries. The spot trades weak, as per participants who deals largely in finished products.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 27,900-31,800/MT (USD 404-461) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 16,900-18,500/MT (USD 244-268); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 2nd July 2019 (Tuesday) INR to USD exchange rate stood at INR 68.94.
— ICEX (Indian Commodity Exchange Ltd) Aug’19 contract for STEELLONG today open at INR 30,930/MT & last traded (IST 18:30) at INR 30,850/MT.
— BSE Sensex closed at 39,816(+129) on Tuesday, as against last day (Monday) at 39,686(+291).
— NSE Nifty50 index was closed today at 11,910(+44) & Nifty Metal at 2,993(+15).
Raw Materials
— According to the latest assessment of Coking coal, spot prices of the Premium HCC are reported at around USD 193.5/MT FoB Australia & USD 206.5/MT CNF India.
— South African RB2 (5500 NAR) coal offers are assessed at USD 51.15/MT on FoB basis & USD 64.15/MT CNF India.
Semi Finished
— Jindal Steel is offering steel grade pig iron at INR 26,500/MT ex-Raigarh & panther shots (granulatd pig iron) at around INR 24,500/MT ex-Angul, Odisha.
— Raipur based major sponge P-DRI suppliers have kept offers unchanged at INR 16,700-16,800/MT ex-plant, however no major deals heard at this offers and buying interest reported at INR 16,600/MT ex-plant.
— Durgapur based major producers have raised Sponge P-DRI prices by INR 200/MT to INR 17,700/MT, meanwhile deals learned at INR 17,500-17,600/MT.
— In Raigarh, Central India 50% (12 hrs) power cut reported by Jindal power ltd (JPL) since today due to technical breakdown. However officials from JPL reported issue will be resolved in couple of days.
— Raigarh based Singhal Steel offered P-DRI at INR 16,200-16,300/MT ex-plant & Billet at INR 28,600-28,700/MT FoR Raipur, officials reported.
— Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 17,200/MT & Billet at INR 28,000/MT ex-plant.
— East India, Odisha based manufacturer, Mahavir Ferro Alloys offered Billet & C-DRI mix material at INR 28,000/MT & INR 17,200/MT ex-plant as per officials.
— BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 16,400-16,500/MT ex-Bellary, an official reported.
— BIOP Steels in South India has offered FeM 80 & 82 C-DRI lumps at INR 17,000/MT & INR 17,400/MT ex-plant, Karnataka; an official reported.
Wire Rod & Pipe
— Trade discounts in Raipur wire rod more or less same at INR 1,000-1,200/MT amid steady base price at INR 35,000/MT. In Durgapur also trade reference wire rod prices unchanged at INR 33,100-33,800/MT ex-plant.
— Raipur, Central India based ERW pipe manufacturers offers reported at around INR 36,200/MT ex-plant & excluding GST.
— Mandi Gobindgarh, North India based ERW pipe manufacturers offers reported at around INR 37,500/MT ex-plant & excluding GST.
Rebar (12 mm)
— Raipur based – SPEED TMT has unchanged their offers at INR 32,800/MT.
— Real Ispat (GK TMT) has unchanged their offers at INR 35,200/MT.
— Raigarh based Anjani Steels Ltd. (Radhe TMT) has unchanged their offer at INR 33,000/MT.
— Raigarh based Scan Group branding (Shrishti TMT) is offering at INR 33,500/MT.
— Gujarat based Shreeyam Power & Steel Industries Ltd. (National TMT) is offering at INR 34,800/MT FoR.(up by INR 100/MT).
— Jalna based SRJ Peety Steels Pvt Ltd (Shree Om) has unchanged their offers at INR 33,800/MT.
— Jalna based Rajuri Steel Pvt. Ltd. (Rajuri) TMT has unchanged their offers at INR 33,800/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 2nd July 2019
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 24,200 | 24,100 | 24,300 | 0 | 23,600 | 25,700 |
| Ex-Mumbai | HMS(80:20) | 22,500 | 22,400 | 22,600 | 0 | 23,000 | 24,800 | |
| Ex-Chennai | HMS(80:20) | 22,000 | 21,900 | 22,100 | 0 | 22,100 | 23,400 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 18,500 | 18,400 | 18,600 | + 200 | 17,900 | 19,500 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 17,100 | 17,000 | 17,200 | + 100 | 16,900 | 18,650 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 17,500 | 17,400 | 17,600 | 0 | 17,300 | 19,500 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 16,900 | 16,800 | 17,000 | 0 | 17,300 | 19,000 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 17,500 | 17,400 | 17,600 | + 200 | 16,900 | 18,500 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 16,600 | 16,500 | 16,700 | 0 | 16,400 | 18,200 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 16,400 | 16,300 | 16,500 | – 100 | 16,800 | 18,600 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 17,000 | 16,900 | 17,100 | 0 | 17,300 | 19,200 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 31,600 | 31,500 | 31,700 | – 200 | 31,000 | 34,200 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 28,500 | 28,400 | 28,600 | 0 | 28,400 | 31,100 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 27,400 | 27,300 | 27,500 | – 200 | 27,100 | 30,150 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 27,800 | 27,700 | 27,900 | – 200 | 27,650 | 30,500 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 29,350 | 29,300 | 29,400 | – 150 | 29,400 | 31,500 | |
| Billet | Ex-Mandi Gobindgarh | 100×100 mm, IS 2831 | 31,800 | 31,700 | 31,900 | – 200 | 31,200 | 34,600 |
| Ex-Durgapur | 100×100 mm, IS 2831 | 28,900 | 28,800 | 29,000 | 0 | 28,900 | 31,400 | |
| Ex-Rourkela | 100×100 mm, IS 2831 | 27,900 | 27,800 | 28,000 | 0 | 27,600 | 30,600 | |
| Ex-Raipur | 100×100 mm, IS 2831 | 28,500 | 28,400 | 28,600 | – 200 | 28,300 | 31,100 | |
| Ex-Ahmedabad | 100×100 mm, IS 2831 | 30,600 | 30,500 | 30,700 | – 150 | 30,100 | 32,700 | |
| Ex-Mumbai | 100×100 mm, IS 2831 | 29,550 | 29,500 | 29,600 | – 150 | 29,600 | 31,700 | |
| Ex-Chennai | 100×100 mm, IS 2831 | 30,000 | 29,900 | 30,100 | 0 | 30,100 | 31,600 | |
| Ex-Hyderabad | 100×100 mm, IS 2831 | 29,000 | 28,900 | 29,100 | – 300 | 29,000 | 31,500 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 35,500 | 35,200 | 35,500 | – 300 | 35,800 | 37,400 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 33,800 | 33,600 | 34,000 | 0 | 33,600 | 36,300 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 32,600 | 32,500 | 32,800 | 0 | 32,800 | 35,100 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 32,800 | 32,700 | 33,000 | – 100 | 32,900 | 34,800 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 34,900 | 34,700 | 35,100 | 0 | 35,100 | 36,500 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 33,000 | 32,800 | 33,200 | – 300 | 33,000 | 35,500 | |
| Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 33,400 | 33,100 | 33,800 | 0 | 33,500 | 36,500 |
| Ex-Raipur | Wire Rod(5.5 MM) | 34,400 | 33,900 | 35,000 | 0 | 34,100 | 36,700 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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