Indian steel prices increased over rising raw material offers amid active buying from the domestic buyers and prices surge was near about INR 100-700/MT through the mid size mills on daily trade activities.
The Rebar prices increased by INR 100-500/MT, Billet by INR 300-700/MT & Sponge iron by INR 100-400/MT.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 32,200-35,400/MT (USD 450-495) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 19,800-21,500/MT (USD 276-301); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 6th February 2019 (Wednesday) INR to USD exchange rate stood at INR 71.56.
— ICEX (Indian Commodity Exchange Ltd) Mar’19 contract for STEELLONG today open at INR 34,140/MT & last traded (IST 18:38) at INR 34,300/MT.
— BSE Sensex closed at 36,975(+358) on Wednesday, as against last day (Tuesday) at 36,617(+34).
— NSE Nifty50 index was closed today at 11,062(+128).
Raw Materials
— Odisha based major pellet maker has concluded 50,000 MT pellet export deal for Fe 64% and 3% Alumina at USD 124/MT, CFR China- Sources.
— Indian Iron ore imports fall to 19-Month low in Jan’19 & stood at 0.19 MnT; dropped 87% on monthly basis as against 1.46 MnT in Dec’18
— Steel and DRI producers make aggressive bookings with NMDC after the price cut. According to sources around 300,000t iron ore has been booked from NMDC CG mines in last 3-4 days
— South African RB2 (5500 NAR) coal offers are assessed at USD 61/MT on FoB basis & USD 70/MT CNF India.
— Melting scrap offers in Western India- Gujarat incline by INR 300/MT in a day trade activities.
Semi Finished
— Indian sponge iron export offers to Bangladesh price assessment for lumps of grade FeM 78-80, recorded at USD 315-320/MT CPT Benapole (dry land port of Bangladesh & India) and USD 335-340/MT CFR Chittagong, Bangladesh
— Indian induction grade billet (100*100mm size) export offers to Nepal are reported at USD 455-460/MT (ex-mill at West Bengal), equivalent to USD 480/MT CFR Nepal (Raxaul border).
— Electro Steel based in Bokaro offered steel grade Pig iron at INR 26,800/MT ex-plant.
— Raipur, Central India based Integrated plants offers increased by INR 300/MT, offering Sponge P-DRI at INR 20,200-20,300/MT & Sponge DR CLO grade at INR 22,100-22,200/MT ex-plant.
— In West Bengal – Durgapur, big manufacturers have increased sponge prices by INR 400/MT D-o-D; offering P-DRI at INR 20,200-20,300/MT.
— Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 20,400/MT & Billet at INR 32,200/MT ex-plant.
— Odisha based manufacturer, Ganesh Metaliks offered Billet at INR 32,200/MT ex-plant, an official reported.
— Raipur based steel manufacturers getting sponge iron offers from Odisha at INR 21,200/MT FoR Raipur.
— BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 19,400-19,500/MT ex-Bellary, offers incline by INR 200-300/MT from the last trade; an official reported.
— BIOP Steels in South India has increased sponge prices by INR 300/MT, offering FeM 80 & 82 C-DRI lumps at INR 19,900/MT & INR 20,300/MT ex-plant, Karnataka; an official reported.
— Bellary, Karnataka based furnace owners increased billet offers by INR 400-500/MT to around INR 33,500/MT on ex-plant basis.
Wire Rod & Pipe
— Raipur based wire rod manufacturers increased offers by INR 400/MT. The offers for 5.5 mm wire rod is hovering around INR 38,800/MT ex-Raipur & INR 37,500-37,800/MT ex-Durgapur.
— Hyderabad (South India) based manufacturer Hari Om Pipe Industries Ltd has offered ERW Pipe at around INR 40,000/MT ex-plant. (basic & excluding GST).
Rebar (12 mm)
— Raipur based – SPEED TMT increased offers by INR 300/MT to INR 36,000/MT
— Raigarh based Anjani Steels Ltd. (Radhe TMT) increased their offering at INR 35,700/MT.
— Gujarat based Shreeyam Power & Steel Industries Ltd. (National TMT) increased their offering at INR 38,700/MT FoR.
— Jalna based Kalika TMT offering at INR 37,900/MT (Up by INR 200/MT).
— Mumbai based Guardian Castings Pvt. Ltd. (Guardian TMT) offering at INR 38,100/MT (Up by INR 300/MT).
Note – Prices mentioned above are ex-work, excluding GST & changes are placed on day basis.
Reference prices as on 6th February 2019
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 26,800 | 26,700 | 26,900 | + 300 | 25,500 | 25,400 |
| Ex-Mumbai | HMS(80:20) | 25,500 | 25,400 | 25,600 | + 200 | 25,100 | 25,000 | |
| Ex-Chennai | HMS(80:20) | 24,500 | 24,400 | 24,700 | 0 | 24,400 | 24,100 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 21,500 | 21,400 | 21,600 | + 400 | 20,500 | 19,900 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 20,200 | 20,100 | 20,300 | + 400 | 19,200 | 19,200 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 21,200 | 21,100 | 21,300 | + 300 | 20,200 | 20,000 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,800 | 19,700 | 19,900 | + 100 | 19,300 | 19,300 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 20,200 | 20,100 | 20,300 | + 400 | 19,300 | 18,800 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 20,200 | 20,100 | 20,300 | + 300 | 18,700 | 18,450 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,400 | 19,300 | 19,500 | + 100 | 18,700 | 18,800 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 19,900 | 19,800 | 20,000 | + 300 | 19,300 | 19,600 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 35,000 | 34,900 | 35,000 | + 500 | 33,550 | 33,650 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 32,500 | 32,400 | 32,600 | + 500 | 31,000 | 30,350 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 31,650 | 31,600 | 31,700 | + 550 | 30,200 | 29,750 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 32,200 | 32,100 | 32,300 | + 400 | 30,700 | 30,200 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 34,500 | 34,400 | 34,600 | + 200 | 33,500 | 32,800 | |
| Billet | Ex-Mandi Gobindgarh | 100×100 mm, IS 2831 | 35,400 | 35,300 | 35,400 | + 500 | 33,900 | 33,950 |
| Ex-Durgapur | 100×100 mm, IS 2831 | 33,000 | 32,900 | 33,100 | + 500 | 31,500 | 30,800 | |
| Ex-Rourkela | 100×100 mm, IS 2831 | 32,200 | 32,100 | 32,300 | + 500 | 31,000 | 30,200 | |
| Ex-Raipur | 100×100 mm, IS 2831 | 33,250 | 33,200 | 33,300 | + 350 | 31,700 | 31,100 | |
| Ex-Ahmedabad | 100×100 mm, IS 2831 | 34,750 | 34,700 | 34,800 | + 350 | 32,800 | 33,200 | |
| Ex-Mumbai | 100×100 mm, IS 2831 | 34,800 | 34,700 | 34,900 | + 300 | 33,700 | 33,000 | |
| Ex-Chennai | 100×100 mm, IS 2831 | 33,600 | 33,500 | 33,700 | + 600 | 32,500 | 32,800 | |
| Ex-Hyderabad | 100×100 mm, IS 2831 | 33,700 | 33,500 | 34,000 | + 700 | 32,000 | 32,000 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 38,000 | 37,800 | 38,200 | + 500 | 36,900 | 36,700 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 37,300 | 37,100 | 37,500 | + 300 | 36,100 | 35,500 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 36,000 | 35,800 | 36,200 | + 600 | 34,700 | 34,600 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 38,000 | 37,800 | 38,200 | + 400 | 37,000 | 36,100 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 37,200 | 37,000 | 37,500 | + 100 | 37,000 | 37,000 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 37,500 | 37,300 | 37,700 | + 500 | 36,000 | 36,500 | |
| Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 37,700 | 37,500 | 37,900 | + 300 | 36,500 | 36,700 |
| Ex-Raipur | Wire Rod(5.5 MM) | 38,800 | 38,200 | 38,800 | + 400 | 37,500 | 37,700 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
Leave a Reply