Indian steel prices increased in the week opening, although trade activities relatively low, as per participants. The prices surge by INR 100-400/MT, day on day, in major markets.
The Billet & Rebar prices increased majorly in South, West & Central regions by INR 200-400/MT. In context to Sponge iron, prices moved up by INR 100-400/MT and sharp hike observed in Central & Eastern India by INR 200-400/MT.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 31,000-34,600/MT (USD 449-502) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 19,100-20,400/MT (USD 276-296); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 25th March 2019 (Monday) INR to USD exchange rate stood at INR 68.93.
— ICEX (Indian Commodity Exchange Ltd) Apr’19 contract for STEELLONG today open at INR 34,090/MT & last traded (IST 18:13) at INR 33,960/MT.
— BSE Sensex closed at 37,808(-355) on Monday, NSE Nifty50 index was closed today at 11,354(-102).
Raw Materials
— Indian iron ore exports in Feb’19 recorded at 0.33 MnT, dropped 49% as against 0.64 MnT in Jan’19.
— Iron ore dispatches from Odisha recorded at 6.65 MnT in Feb’19, up 18% as against 5.62 MnT in Jan’19.
— According to the latest assessment of Coking coal, spot prices of the Premium HCC are reported at around USD 212/MT FoB Australia & USD 224.45/MT CNF India.
— South African RB2 (5500 NAR) coal offers are assessed at USD 60/MT on FoB basis & USD 73/MT CNF India
— Local manufacturers in Raigarh, Central India offered 60-14 Silico Manganese at around INR 67,500/MT ex-plant.
Semi Finished
— Rashtriya Ispat Nigam Limited, has invited a tender for export of 10,000 MT wire rod and 30,000 MT billets. Interested bidders can submit their bids till 28 Mar’19 at 15:00 hrs.
— As per sources, Mesco Steels in Jajpur (Odisha) has reduced pig iron prices by INR 300-400/MT to INR 26,500-26,600/MT (steel grade), ex-plant. Offers by other plants – Neo Metaliks hovering at INR 27,700/MT ex-Durgapur & by Electrosteels Ltd at INR 27,500/MT ex-Bokaro.
— Raipur based a manufacturer has reduced pig iron prices by INR 300-500/MT to INR 27,500/MT (steel grade), ex-plant.
— Billet export offers to Nepal through the mid sized mills assessed at USD 457-460/MT ex-mill, Durgapur.
— Raipur, Central India based Integrated plants offering Sponge P-DRI at INR 18,900-19,000/MT & Sponge DR CLO grade at INR 21,100-21,300/MT ex-plant.
— Odisha based medium size sponge manufacturers offered FeM 80 C-DRI (70:30 mix material) at INR 18,800-19,000/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, offers incline by INR 200-300/MT from the last trade; an official reported.
— BIOP Steels in South India has kept offers unaltered; offering FeM 80 & 82 C-DRI lumps at INR 19,200/MT & 19,600/MT ex-plant, Karnataka; an official reported.
— Apple Industries in Bellary (Karnataka) offered Sponge FeM 83+ P-DRI lump at INR 19,800/MT & Billet at INR 32,700/MT ex-plant.
Wire Rod & Pipe
— Raipur based mills & re-sellers are offering trade discount in Wire rod of INR 500-700/MT & basic offers at INR 38,200/MT ex-plant. Meanwhile in Durgapur Wire rod offers for domestic buyers stood at INR 37,000-37,200/MT & for exports at around USD 530/MT ex-plant.
— Raipur, Central India based ERW pipe manufacturers increased prices by INR 500/MT & offers reported at around INR 37,500/MT ex-plant & excluding GST.
— Hyderabad (South India) based manufacturer Mahalakshmi Profiles Pvt. Ltd (MPL) has offered ERW Pipe at INR 39,500/MT ex-plant. (basic & excluding GST).
Rebar (12 mm)
— Real Ispat (GK TMT) has raised prices by INR 200/MT & offering 10-25 mm Rebar at INR 38,200/MT & Wire rod 5.5mm at INR 38,200/MT; ex-plant.
— Rathi Steels is offering rebar at INR 39,200/MT (Ex-Delhi).
— Raipur based – SPEED TMT is offering at INR 36,300/MT (Up by INR 400/MT).
— Scan Group branding (Shrishti TMT) is current offering at INR 36,500/MT (Raigarh).
— Jalna based SRJ Peety Steels Pvt Ltd (Shree Om) is currently offered at INR 37,900/MT.
— Kalika Steels Alloys Pvt. Ltd. (Kalika TMT) is currently being offered at INR 37,900/MT (Jalna).
— South region based – VRKP Steel Industry Pvt Ltd – (VRKP TMT) is offering at INR 38,500/MT.
— Sakthi Ferro Alloys India Pvt. Ltd. (SSI TMT) has unchanged their offers at INR 38,000/MT (Chennai).
— Chennai based ARS Steel (ARS 500 D) has unchanged their offering at INR 40,400/MT.
Note – Prices mentioned above are ex-work, excluding GST & changes are placed on day basis.
Reference prices as on 25th March 2019
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 26,400 | 26,300 | 26,500 | + 400 | 25,700 | 26,000 |
| Ex-Mumbai | HMS(80:20) | 25,000 | 24,800 | 25,100 | + 100 | 25,000 | 24,900 | |
| Ex-Chennai | HMS(80:20) | 24,600 | 24,500 | 24,800 | 0 | 24,800 | 25,000 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 20,400 | 20,300 | 20,500 | + 400 | 19,250 | 19,500 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 19,100 | 19,000 | 19,200 | + 200 | 18,800 | 20,000 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 20,200 | 20,100 | 20,300 | + 200 | 19,700 | 21,000 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,100 | 19,000 | 19,200 | + 100 | 19,000 | 20,300 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 19,150 | 19,100 | 19,200 | + 350 | 18,050 | 18,300 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 18,950 | 18,900 | 19,000 | + 150 | 18,300 | 19,800 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 18,700 | 18,600 | 18,800 | + 200 | 18,400 | 19,700 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 19,000 | 19,000 | 19,100 | + 100 | 18,900 | 20,600 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 34,300 | 34,200 | 34,400 | 0 | 33,800 | 34,200 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 31,600 | 31,500 | 31,700 | 0 | 31,200 | 31,000 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 30,800 | 30,700 | 30,900 | + 300 | 30,300 | 31,000 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 31,400 | 31,300 | 31,500 | + 250 | 30,900 | 31,800 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 33,500 | 33,400 | 33,600 | + 300 | 33,100 | 34,600 | |
| Billet | Ex-Mandi Gobindgarh | 100×100 mm, IS 2831 | 34,600 | 34,500 | 34,700 | 0 | 34,100 | 34,600 |
| Ex-Durgapur | 100×100 mm, IS 2831 | 32,000 | 31,900 | 32,100 | 0 | 31,500 | 31,400 | |
| Ex-Rourkela | 100×100 mm, IS 2831 | 31,000 | 30,900 | 31,100 | + 200 | 30,500 | 31,600 | |
| Ex-Raipur | 100×100 mm, IS 2831 | 31,850 | 31,800 | 31,900 | + 100 | 31,400 | 32,700 | |
| Ex-Ahmedabad | 100×100 mm, IS 2831 | 34,400 | 34,300 | 34,500 | + 400 | 33,800 | 35,300 | |
| Ex-Mumbai | 100×100 mm, IS 2831 | 33,700 | 33,600 | 33,800 | + 300 | 33,300 | 34,800 | |
| Ex-Chennai | 100×100 mm, IS 2831 | 32,350 | 32,300 | 32,400 | – 150 | 33,000 | 34,300 | |
| Ex-Hyderabad | 100×100 mm, IS 2831 | 33,000 | 32,900 | 33,100 | + 300 | 32,700 | 34,000 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 37,500 | 37,500 | 37,800 | + 500 | 36,900 | 37,600 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 37,000 | 36,800 | 37,200 | + 300 | 36,000 | 36,100 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 36,100 | 36,000 | 36,300 | + 400 | 35,600 | 35,900 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 37,200 | 37,000 | 37,500 | + 300 | 36,900 | 38,300 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 37,500 | 37,300 | 37,700 | – 300 | 38,000 | 38,600 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 36,500 | 36,300 | 36,700 | + 300 | 36,500 | 37,500 | |
| Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 37,100 | 36,900 | 37,400 | + 100 | 36,500 | 36,400 |
| Ex-Raipur | Wire Rod(5.5 MM) | 38,200 | 37,500 | 38,200 | + 200 | 38,000 | 39,700 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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