SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 31,400-34,700/MT (USD 437-482) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 19,400-20,700/MT (USD 271-289); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 5th February 2019 (Tuesday) INR to USD exchange rate stood at INR 71.65
— ICEX (Indian Commodity Exchange Ltd) Mar’19 contract for STEELLONG today open at INR 34,060/MT & last traded (IST 18:15) at INR 34,220/MT.
— BSE Sensex closed at 36,617(+34) on Tuesday, as against last day (Monday) at 36,582(+113).
— NSE Nifty50 index was closed today at 10,934(+35).
Raw Materials
— Durgapur & eastern India pellet makers have raised offers after yesterdays price hike by Odisha merchant miners.
— Melting scrap offers in Western India- Gujarat incline by INR 300/MT in a day trade activities.
Semi Finished
— NINL has reduced its pig iron prices by INR 500/MT (USD 7/MT) & the latest offers by the company floated for Steel grade is at INR 26,400/MT (USD 368/MT), N2 grade is at INR 27000/MT (USD 377/MT) and Foundry (High silicon) grade is at INR 27,500/MT (USD 384/MT); prices are basic, ex-Cuttack, East India.
— Ludhiana, North India based trade participants reported steel & foundry grade pig iron offers at INR 29,300-29,500/MT & INR 31,000-31,200/MT on FoR basis & excluding 18% GST.
— Rashmi Metaliks in Durgapur, known as price trend setter, has offered Sponge P-DRI at INR 19,800-19,900/MT – Sources.
— Bellary, Karnataka based furnace owners offering billet at around INR 33,000-33,100/MT on ex-plant basis.
— BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 19,200-19,300/MT ex-Bellary, an official reported.
— BIOP Steels in South India has increased sponge prices by INR 400/MT, offering FeM 80 & 82 C-DRI lumps at INR 19,600/MT & INR 20,000/MT ex-plant, Karnataka; an official reported.
— Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 19,800/MT & Billet at INR 31,600/MT ex-plant.
— Raipur, Central India based Integrated plants offering Sponge P-DRI at INR 19,800-20,000/MT & Sponge DR CLO grade at INR 21,800-22,000/MT ex-plant.
Finished long
— Hyderabad (South India) based Pipe manufacturer Mahalakshmi Profiles Pvt. Ltd (MPL) has offered ERW Pipe at INR 39,200/MT ex-plant. (basic & excluding GST).
— Raipur (Central India) & Mandi Gobindgarh (North India) based pipe manufacturers increase offers by INR 500/MT, offering ERW pipe at around INR 37,900/MT & INR 40,700/MT; prices are ex-plant & excluding GST.
— Raipur based wire rod manufacturers increased offers by INR 400/MT and trade discount through manufacturers/suppliers is around INR 500/MT. The offers for 5.5 mm wire rod is hovering around INR 38,400/MT ex-Raipur & INR 37,200-37,500/MT ex-Durgapur.
Rebar (12mm)
— Rathi Steels based in North region offering at INR 38,850/MT (Up by INR 150/MT).
— Raipur based – SPEED TMT offering at INR 35,900/MT (Up by INR 400/MT).
— Raigarh based Anjani Steels Ltd. (Radhe TMT) offering at INR 35,200/MT (Up by INR 200/MT).
— Gujarat based Shreeyam Power & Steel Industries Ltd. (National TMT) their offering at INR 38,600/MT FoR (Up by INR 200/MT).
— Jalna based SRJ Peety Steels Pvt Ltd (Shree Om) TMT offering at INR 37,700/MT (Up by INR 200/MT).
— Jalna based Kalika Steel Alloys Pvt Ltd offering at INR 37,500/MT (Up by INR 200/MT).
— Mumbai based Guardian Castings Pvt. Ltd. (Guardian TMT) offering at INR 37,900/MT (Up by INR 400/MT).
— Chennai based Sakthi Ferro Alloys India Pvt. Ltd. (SSI TMT) offering at INR 37,200/MT (Up by INR 200/MT).
— South region based Prakash Ferrous Ind. Pvt. Ltd (Tirumala) unchanged their offering at INR 38,500/MT.
Note – Prices mentioned above based on ex-work and excluding GST and changes are placed on day basis.
Reference prices as on 5th February 2019
| Products | Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M |
| Scrap | Ex-Alang | HMS(80:20) | 26,500 | 26,400 | 26,600 | +300 | 25,700 | 25,300 |
| Ex-Mumbai | HMS(80:20) | 25,300 | 25,200 | 25,400 | + 200 | 25,200 | 25,000 | |
| Ex-Chennai | HMS(80:20) | 24,500 | 24,400 | 24,700 | 0 | 24,400 | 24,400 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 21,100 | 21,000 | 21,200 | +400 | 20,600 | 20,000 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 19,800 | 19,700 | 19,900 | +200 | 19,300 | 19,200 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 20,900 | 20,800 | 21,000 | +400 | 20,300 | 20,500 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,700 | 19,600 | 19,800 | +300 | 19,300 | 19,400 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 19,800 | 19,700 | 19,900 | +300 | 19,400 | 18,900 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 19,900 | 19,800 | 20,000 | +500 | 18,800 | 18,500 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,300 | 19,200 | 19,400 | + 200 | 18,700 | 18,900 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 19,600 | 19,500 | 19,700 | + 100 | 19,300 | 19,600 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 34,500 | 34,400 | 34,600 | + 200 | 33,600 | 33,350 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 32,000 | 31,900 | 31,900 | + 200 | 31,200 | 30,200 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 31,100 | 31,000 | 31,200 | +300 | 30,300 | 29,600 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 31,800 | 31,800 | 31,900 | +500 | 30,850 | 30,000 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 34,300 | 34,200 | 34,400 | +300 | 33,700 | 32,400 | |
| Billet | Ex-Mandi Gobindgarh | 100×100 mm, IS 2831 | 34,900 | 34,800 | 35,000 | + 200 | 34,500 | 33,650 |
| Ex-Durgapur | 100×100 mm, IS 2831 | 32,500 | 32,400 | 32,600 | + 200 | 31,700 | 30,600 | |
| Ex-Rourkela | 100×100 mm, IS 2831 | 31,700 | 31,300 | 31,800 | +300 | 31,100 | 30,000 | |
| Ex-Raipur | 100×100 mm, IS 2831 | 32,800 | 32,700 | 32,900 | +400 | 31,800 | 30,800 | |
| Ex-Ahmedabad | 100×100 mm, IS 2831 | 34,400 | 34,300 | 34,500 | +300 | 33,000 | 32,900 | |
| Ex-Mumbai | 100×100 mm, IS 2831 | 34,500 | 34,400 | 34,600 | +300 | 33,900 | 32,600 | |
| Ex-Chennai | 100×100 mm, IS 2831 | 33,000 | 33,000 | 33,200 | +200 | 32,900 | 33,000 | |
| Ex-Hyderabad | 100×100 mm, IS 2831 | 33,000 | 32,900 | 33,100 | +500 | 32,300 | 32,000 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 37,500 | 37,400 | 37,700 | +100 | 37,200 | 36,700 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 37,000 | 36,800 | 37,200 | + 400 | 36,500 | 35,500 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 35,400 | 35,400 | 35,600 | +300 | 34,900 | 34,600 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 37,600 | 37,300 | 37,800 | +400 | 37,000 | 35,900 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 37,100 | 36,900 | 37,300 | +200 | 37,000 | 37,000 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 37,000 | 36,800 | 37,200 | +500 | 36,500 | 36,500 | |
| Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 37,400 | 37,200 | 37,600 | +300 | 36,700 | 36,500 |
| Ex-Raipur | Wire Rod(5.5 MM) | 38,400 | 36,900 | 38,400 | +400 | 37,900 | 37,900 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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