Indian spot steel trades remain limited as prices moved down by INR 100-500/MT in major markets. Participants reported that, supply continued strong, although buyers away to take positions, this has resulted significant drop in prices.
As per daily assessment, the Billet prices down by INR 100-500/MT and majorly in Hyderabad by INR 500/MT.
Meanwhile Rebar prices fell by INR 100-400/MT, day on day, in major markets. In line Sponge iron, the prices declined by INR 100-200/MT.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 30,400-34,400/MT (USD 441-494) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 18,400-19,000/MT (USD 264-274); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 7th June 2019 (Friday) INR to USD exchange rate stood at INR 69.49.
— ICEX (Indian Commodity Exchange Ltd) Jul’19 contract for STEELLONG today open at INR 33,260/MT & last traded (IST 18:02) at INR 33,220/MT.
— BSE Sensex closed at 39,615(+86) on Friday, as against last day (Thursday) at 39,529(-553).
— NSE Nifty50 index was closed today at 11,870(+26) & Nifty Metal at 2,906(-16).
Raw Materials
— Central India based pellet maker – Godawari Power & Ispat had concluded 50,000 MT pellet (Fe 64%, less than 2% Al) export deal to China at around USD 117.25/MT, FoB India. The cargo is likely to be shipped in Jul’19.
— Indian iron ore imports in May’19 have been recorded at 313,530 MT, recorded 21% decline for the month compared to 395,000 MT in Apr’19.
— Indian metallurgical coke imports fall by 14% to 0.36 (MnT) in May’19, as compared to 0.42 MnT in Apr’19 – CoalMint Research.
— Central India based pellet manufacturers have decreased their offers by INR 200/MT to INR 6,800/MT (ex-Raipur, GST extra) for Fe 63% grade.
— UK origin HMS scrap concluded in containers in the range of USD 305-307/MT, CFR Nhava Sheva.
— As per sources, one of major merchant miner in Odisha has booked around 300,000 MT iron ore lump Fe 63% (5-18 mm) at around INR 4,100/MT (Ex-mine, including Royalty, DMF & NMET).
Semi Finished
— Indian mid sized mills Billet export offers to Nepal fell and currently evaluated at USD 435-440/MT ex-mill, Durgapur.
— Jindal Steel has roll-over prices and reported steel grade pig iron at INR 28,200/MT ex-Raigarh & panther shots (granulated pig iron) at INR 27,000/MT ex-Angul, Odisha. As per officials, no fresh deals due to falling billet prices.
— RINL has invited tender for export of 5,418 MT Wire rods,13,545 MT Billets and 5,418 MT Blooms to Nepal. The Interested bidders can submit their bids till 11 June’19 at 15:00 hrs.
— Sponge Iron prices in Raipur have declined to 18-months low. Meanwhile deals remain limited at today’s reduce offer by INR 100/MT to INR 17,800-17,900/MT (ex-plant) of P-DRI. Sponge DR CLO grade offers evaluated at INR 19,800-20,000/MT ex-plant.
— Rashmi Metaliks in Durgapur has reduced sponge prices and offers for P-DRI heard at INR 18,000-18,100/MT.
— Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 18,600/MT & Billet at INR 30,000-30,100/MT ex-plant.
— Sources reported Chandrapur (Maharashtra) based manufacturers offered Sponge C-DRI (70:30) & P-DRI (FeM 80) at INR 19,700/MT & INR 17,800/MT, ex-plant & excluding GST.
— BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 18,400/MT ex-Bellary, an official reported.
— Apple Industries in Bellary (Karnataka) offered Sponge FeM 83+ P-DRI lump at INR 19,800/MT & Billet at INR 31,000/MT ex-plant. And added majorly deals concluded for Hosur market.
— BIOP Steels in South India has decreased sponge prices by INR 100/MT, offering FeM 80 & 82 C-DRI lumps at INR 18,900/MT & INR 19,300/MT ex-plant, Karnataka; an official reported.
— Hyderabad, South India based steel manufacturers decreased their Billet offer by INR 500/MT to INR 31,000/MT. And offering 12 MM Rebar at around INR 35,000/MT. prices are ex-plant & excluding GST.
Wire Rod & Pipe
— Trade discounts in Raipur Wire rod narrowed down by INR 300/MT to INR 1,200-1,400/MT due to cut base price by INR 500/MT to INR 36,700/MT ex-plant. Similarly base Wire rod prices in Durgapur down by INR 100-200/MT to INR 36,000-36,500/MT ex-plant.
— 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 at around INR 38,000/MT (ex-Delhi).
— Raipur based – SPEED TMT is offering at INR 34,800/MT (down by INR 200/MT).
— Real Ispat (GK TMT) is offering at INR 37,000/MT (down by INR 500/MT).
— Raigarh based Anjani Steels Ltd. (Radhe TMT) is offering at INR 35,300/MT.
— Gujarat based Shreeyam Power & Steel Industries Ltd. (National TMT) is offering at INR 36,400/MT FoR (down by INR 200/MT).
— Jalna based Kalika Steels Alloys Pvt. Ltd. (Kalika TMT) is offering at INR 35,900/MT.
— Chennai based Sakthi Ferro Alloys India Pvt. Ltd. (SSI TMT) is currently offering at INR 37,000/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 7th June 2019
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 25,600 | 25,500 | 25,700 | – 200 | 26,400 | 26,000 |
| Ex-Mumbai | HMS(80:20) | 24,700 | 24,600 | 24,800 | – 100 | 24,800 | 24,900 | |
| Ex-Chennai | HMS(80:20) | 23,400 | 23,300 | 23,600 | 0 | 23,800 | 23,700 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 19,000 | 18,900 | 19,100 | – 200 | 19,900 | 18,800 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 18,400 | 18,300 | 18,500 | – 100 | 18,900 | 18,700 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 18,900 | 18,800 | 19,000 | – 200 | 19,700 | 19,600 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 18,800 | 18,700 | 18,900 | – 100 | 19,100 | 19,000 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 18,000 | 17,900 | 18,100 | – 200 | 18,800 | 17,600 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 17,800 | 17,700 | 17,900 | – 100 | 18,600 | 18,500 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 18,400 | 18,300 | 18,500 | – 100 | 18,900 | 18,600 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 19,000 | 18,900 | 19,100 | – 100 | 19,300 | 19,200 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 33,800 | 33,700 | 33,900 | 0 | 34,200 | 34,100 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 30,600 | 30,500 | 30,700 | 0 | 31,400 | 31,200 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 29,700 | 29,600 | 29,800 | – 100 | 30,300 | 30,200 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 30,000 | 29,900 | 30,100 | 0 | 30,900 | 30,600 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 31,400 | 31,300 | 31,400 | – 200 | 32,200 | 32,500 | |
| Billet | Ex-Mandi Gobindgarh | 100×100 mm, IS 2831 | 34,100 | 34,000 | 34,200 | 0 | 34,600 | 34,500 |
| Ex-Durgapur | 100×100 mm, IS 2831 | 31,000 | 30,900 | 31,100 | 0 | 31,800 | 31,600 | |
| Ex-Rourkela | 100×100 mm, IS 2831 | 30,100 | 30,000 | 30,200 | – 100 | 30,850 | 30,600 | |
| Ex-Raipur | 100×100 mm, IS 2831 | 30,600 | 30,500 | 30,700 | – 100 | 31,500 | 31,300 | |
| Ex-Ahmedabad | 100×100 mm, IS 2831 | 32,500 | 32,400 | 32,600 | – 200 | 33,050 | 32,000 | |
| Ex-Mumbai | 100×100 mm, IS 2831 | 31,700 | 31,600 | 31,700 | – 200 | 32,400 | 32,750 | |
| Ex-Chennai | 100×100 mm, IS 2831 | 31,400 | 31,300 | 31,500 | – 100 | 31,800 | 31,800 | |
| Ex-Hyderabad | 100×100 mm, IS 2831 | 31,000 | 30,900 | 31,100 | – 500 | 32,000 | 32,000 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 37,200 | 37,000 | 37,400 | – 200 | 37,600 | 37,200 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 35,800 | 35,600 | 36,000 | – 400 | 37,000 | 36,500 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 34,600 | 34,500 | 34,800 | – 200 | 35,300 | 35,200 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 34,600 | 34,500 | 34,800 | – 200 | 35,200 | 36,000 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 36,300 | 36,200 | 36,500 | – 100 | 36,600 | 37,200 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 35,000 | 34,800 | 35,200 | – 200 | 35,800 | 35,700 | |
| Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 36,100 | 35,800 | 36,400 | – 200 | 37,100 | 37,000 |
| Ex-Raipur | Wire Rod(5.5 MM) | 35,900 | 35,200 | 36,700 | – 400 | 37,000 | 37,700 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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