Indian steel prices slightly fall on day trade activities over limited inquiries through the domestic buyers. As per participants, slight rise in inventories leading to gradual decline in prices.
The Rebar prices down by INR 100-300/MT, Billet by around INR 100-400/MT, while sponge iron mark corrections of INR 100-200/MT (day on day) by the mid size mills in major producing markets.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 30,300-33,600/MT (USD 427-473) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 19,100-19,950/MT (USD 269-281); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 17th January 2019 (Thursday) INR to USD exchange rate stood at INR 71.0
— ICEX (Indian Commodity Exchange Ltd) Feb’19 contract for STEELLONG today open at INR 32,830/MT & last traded (IST 18:20) at INR 32,680/MT.
— BSE Sensex closed at 36,374 (+52) on Thursday, as against last day (Wednesday) at 36,321(+2).
— NSE Nifty50 index was closed today at 10,905(+14.9).
Raw Materials
— Australian Iron ore export shipments to India rise & stood at 6.85 MnT in CY18 as against 0.60 MnT in CY17.
— Imported scrap offers to India for HMS 1&2 (80:20) Dubai origin containers stood at around USD 313/MT, CFR Nhava Sheva.
— According to the latest assessment of Coking coal, spot prices of the Premium HCC are reported at around USD 192/MT FoB Australia & USD 203.75/MT CNF India.
— Local manufacturers in Raigarh offered 60-14 Silico Manganese at around INR 68,000/MT ex-plant.
Semi Finished
— A Southern India based large mill has concluded Bloom (150*150mm) export tender to Nepal at near about USD 412-418/MT on ex-mill basis – Sources.
— Raipur, Central India based Integrated plants has reduced prices for Sponge P-DRI at INR 18,300-18,500/MT & Sponge DR CLO grade at INR 20,900-21,100/MT ex-plant.
— Raigarh based Singhal Steel offered P-DRI at INR 18,100/MT ex-Raigarh & Billet at INR 31,200-31,300/MT FoR Raipur, officials reported.
— Odisha based medium size sponge manufacturers offered FeM 80 C-DRI (70:30 mix material) at INR 19,200-19,400/MT ex-plant & excluding GST.
— BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 18,700-18,800/MT ex-Bellary, an official reported.
— BIOP Steels in South India has decreased sponge prices by INR 100/MT, offering FeM 80 & 82 C-DRI lumps at INR 19,400/MT & INR 19,800/MT ex-plant, Karnataka; an official reported.
— South India (Telangana) based Cauvery Iron & Steel offers FeM 80 P-DRI & Billet at INR 19,400/MT & INR 32,000/MT. Also offering 12 mm Rebar at INR 36,500/MT. All prices are ex-plant & excluding GST.
Finish Long
— Prakash Industries Ltd. has registered sales volumes growth of 22% in Q3 FY19 as against corresponding quarter of the last financial year and stood at around 2,57,484 MT as per recent press release.
— Mandi Gobindgarh, North India based ERW pipe manufacturers decreased prices by INR 200/MT & offers reported at around INR 39,600/MT ex-plant & excluding GST.
— Hyderabad (South India) based manufacturer Mahalakshmi Profiles Pvt. Ltd (MPL) has offered ERW Pipe at INR 39,000/MT ex-plant. (basic & excluding GST).
— Raipur based wire rod manufacturers reduced offers by INR 500/MT and trade discount through the manufacturers/suppliers is around INR 800-1,100/MT. The offers for 5.5mm wire rod is hovering around INR 37,600/MT ex-Raipur & INR 36,300-36,500/MT ex-Durgapur.
— East region based – Baba Smelter Pvt. Ltd has unchanged their offering – Structure (125,150 Channel) at INR 38,250/MT.
Rebar (12mm)
— Raipur based – GK TMT reduced their offering at INR 36,900/MT (Down by INR 500/MT).
— As per sources, a Large mill sold rebars for project segment at around INR 39,000-39,500/MT in Karnataka (size-12-32mm).
— Rathi Steels based in North region offering at INR 38,200/MT (Down by INR 300/MT).
— Raipur based – SPEED TMT unchanged their offering at INR 34,900/MT.
— Raigarh based Anjani Steels Ltd. (Radhe TMT) offering at INR 35,000/MT (Down by INR 100/MT).
— Gujarat based Shreeyam Power & Steel Industries Ltd. (National TMT) offering at INR 38,300/MT FoR (Down by INR 300/MT).
— Jalna based SRJ Peety Steels Pvt Ltd (Shree Om) TMT offering at INR 36,300/MT (Down by INR 200/MT).
Note – Prices mentioned above are ex-work, excluding GST & changes are placed on day basis.
Reference prices as on 17th January 2019
| Products | Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M |
| Scrap | Ex-Alang | HMS(80:20) | 25,600 | 25,500 | 25,700 | -200 | 25,800 | 26,500 |
| Ex-Mumbai | HMS(80:20) | 24,900 | 24,800 | 25,100 | -100 | 25,000 | 25,500 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 19,950 | 19,900 | 20,000 | -150 | 20,150 | 20,300 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 19,300 | 19,200 | 19,400 | -100 | 19,350 | 20,000 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 20,000 | 19,900 | 20,100 | -100 | 20,100 | 21,400 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,100 | 19,000 | 19,200 | -100 | 19,100 | 20,000 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 18,800 | 18,700 | 18,900 | -200 | 19,050 | 19,000 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 18,400 | 18,300 | 18,500 | -150 | 18,550 | 19,800 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 18,800 | 18,700 | 18,900 | -100 | 18,700 | 19,600 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 19,500 | 19,400 | 19,600 | -100 | 19,500 | 20,500 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 33,200 | 33,100 | 33,300 | -250 | 33,550 | 33,500 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 30,400 | 30,300 | 30,500 | – 150 | 30,400 | 30,100 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 29,800 | 29,700 | 29,900 | – 100 | 29,800 | 29,800 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 30,400 | 30,300 | 30,500 | – 150 | 30,300 | 30,200 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 33,100 | 33,000 | 33,200 | +50 | 33,200 | 33,300 | |
| Billet | Ex-Mandi Gobindgarh | 100×100 mm, IS 2831 | 33,600 | 33,500 | 33,700 | – 100 | 33,750 | 33,600 |
| Ex-Durgapur | 100×100 mm, IS 2831 | 30,800 | 30,700 | 30,900 | -150 | 30,900 | 30,750 | |
| Ex-Rourkela | 100×100 mm, IS 2831 | 30,300 | 30,200 | 30,400 | -100 | 30,300 | 30,400 | |
| Ex-Raipur | 100×100 mm, IS 2831 | 31,100 | 31,000 | 31,200 | -200 | 31,100 | 31,000 | |
| Ex-Ahmedabad | 100×100 mm, IS 2831 | 32,900 | 32,800 | 33,000 | -350 | 33,600 | 33,600 | |
| Ex-Mumbai | 100×100 mm, IS 2831 | 33,300 | 33,200 | 33,400 | +50 | 33,400 | 33,500 | |
| Ex-Hyderabad | 100×100 mm, IS 2831 | 32,000 | 31,900 | 32,100 | -300 | 32,500 | 32,300 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 37,000 | 36,800 | 37,200 | -200 | 37,000 | 37,400 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 35,500 | 35,300 | 35,700 | -300 | 35,500 | 35,800 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 34,700 | 34,600 | 34,900 | -200 | 35,000 | 35,600 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 36,400 | 36,100 | 36,600 | 0 | 36,500 | 36,900 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 36,500 | 36,300 | 36,700 | -200 | 37,000 | 36,500 | |
| Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 36,400 | 36,200 | 36,600 | -300 | 36,800 | 37,000 |
| Ex-Raipur | Wire Rod(5.5 MM) | 37,600 | 36,600 | 37,600 | -500 | 38,100 | 38,400 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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