Indian steel prices slightly rise today, however spot trade volumes remained thin, as per mid sized mills. The producers have raised Rebar & Billet prices at close to INR 100-500/MT in major markets.
In context to Sponge iron, the manufacturers in Central & Eastern regions have maintained prices with slight change of INR 100-200/MT day-on-day. However in Southern India, the prices rally by INR 300-500/MT due to logistic issue & supply crunch on raw materials (Iron ore & Pellets).
Industry sources are assuming, demand to remained bearish as upcoming elections to slowdown movement of finished steel for inter or intra-state as well.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 31,600-35,200/MT (USD 454-507) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 18,900-20,700/MT (USD 271-298); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 8th April 2019 (Monday) INR to USD exchange rate stood at INR 69.58.
— ICEX (Indian Commodity Exchange Ltd) May’19 contract for STEELLONG today open at INR 34,420/MT & last traded (IST 18:19) at INR 34,330/MT.
— BSE Sensex closed at 38,700(-161) on Monday, as against last day (Friday) at 38,862(+177).
— NSE Nifty50 index was closed today at 11,604(-61).
Raw Materials
— Tata Steel’s crude steel production volumes recorded significant increase of 35% to 16.79 MnT in FY19 against 12.48 MnT FY18.
— The raw material division (RMD) of Steel Authority of India Ltd (SAIL) logged its highest ever production and dispatch of iron ore at 21.46 MnT and 20.91 MnT respectively in FY2019.
— NMDC has decreased fines (Fe 63%) base price from Kumaraswamy mines by INR 144/MT to INR 2,540/MT (basic) against last assessment INR 2,684/MT.
— South African RB2 (5500 NAR) coal offers are assessed at USD 53/MT on FoB basis & USD 66/MT CNF India.
— According to the latest assessment of Coking coal, spot prices of the Premium HCC are reported at around USD 202.5/MT FoB Australia & USD 214.3/MT CNF India.
— Local manufacturers in Raigarh, Central India offered 60-14 Silico Manganese at around INR 68,300-68,500/MT ex-plant- Sources.
Semi Finished
— As per sources, Rashmi Metaliks in eastern India has increased sponge prices by INR 200/MT to INR 19,500-19,600/MT (P-DRI) ex-plant.
— Mesco Steels in Jajpur, Odisha has further raised steel grade pig iron prices by INR 500/MT to INR 26,900-27,000/MT ex-plant, as per sources.
— Raipur, Central India based Integrated plants offering Sponge P-DRI at INR 18,500/MT & Sponge DR CLO grade at INR 20,500/MT ex-plant.
— Raigarh based Singhal Steel offered P-DRI at INR 17,800/MT ex-Raigarh & Billet at INR 32,000/MT FoR Raipur, officials reported.
— BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 19,000-19,100/MT ex-Bellary, offers incline by INR 200-300/MT from the last trade; an official reported.
— Apple Industries in Bellary (Karnataka) offered Sponge FeM 83+ P-DRI lump at INR 20,000/MT & Billet at INR 33,000/MT ex-plant.
— BIOP Steels in South India has increased sponge prices by INR 200/MT, offering FeM 80 & 82 C-DRI lumps at INR 19,400/MT & INR 19,800/MT ex-plant, Karnataka; an official reported.
Wire Rod & Pipe
— Trade discounts in Raipur Wire rod slightly lowered by INR 200/MT to INR 600-800/MT as against on 6th Apr’19 at INR 800-1,000/MT. Basic prices for 5.5 mm is hovering at INR 38,600/MT ex-Raipur & INR 37,700-38,500/MT ex-Durgapur.
— Rashmi Metaliks in Kharagpur(Durgapur) has offered 5.5 mm Wire rod at INR 38,000/MT ex-plant.
— Real Ispat (GK TMT) is offering 5.5 mm Wire rod at INR 38,600/MT ex-plant, Raipur & excluding trade discounts.
— Raipur, Central India based ERW pipe manufacturers increased prices by INR 200-300/MT & offers reported at around INR 38,000/MT ex-plant & excluding GST.
— Mandi Gobindgarh, North India based ERW pipe manufacturers offers reported at around INR 41,300/MT ex-plant & excluding GST.
— Hyderabad (South India) based manufacturer Mahalakshmi Profiles Pvt. Ltd (MPL) has offered ERW Pipe at INR 39,700/MT ex-plant. (basic & excluding GST). Offers incline by INR 300/MT D-o-D.
Rebar (12 mm)
— Rathi Steels based in North region has offered around INR 40,000/MT (ex-Delhi).
— Raipur based – SPEED TMT has offered at INR 36,500/MT (Up by INR 200/MT).
— Scan Group branding (Shrishti TMT) is offering at INR 36,800/MT (Raigarh).
— Raigarh based Anjani Steels Ltd. (Radhe TMT) has offered at INR 36,900/MT (Up by INR 300/MT).
— Mumbai based Vistar Metal Ind. Pvt. Ltd. (Vistar TMT) has unchanged their offers at INR 37,400/MT.
Note – Prices mentioned above are ex-work, excluding GST & changes are placed on day basis.
Reference prices as on 8th April 2019
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 26,300 | 26,200 | 26,400 | + 100 | 26,100 | 25,700 |
| Ex-Mumbai | HMS(80:20) | 25,400 | 25,300 | 25,500 | 0 | 25,000 | 25,200 | |
| Ex-Chennai | HMS(80:20) | 24,700 | 24,500 | 24,800 | + 200 | 24,700 | 24,900 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 20,700 | 20,600 | 20,800 | + 100 | 20,000 | 19,200 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 19,100 | 19,000 | 19,200 | + 100 | 18,900 | 19,300 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 19,600 | 19,500 | 19,700 | – 200 | 19,800 | 20,200 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,400 | 19,300 | 19,500 | + 500 | 18,800 | 19,600 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 19,450 | 19,400 | 19,500 | + 50 | 18,700 | 18,000 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 18,500 | 18,400 | 18,600 | 0 | 18,600 | 18,900 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,000 | 18,900 | 19,100 | + 400 | 18,400 | 19,000 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 19,400 | 19,300 | 19,500 | + 300 | 19,000 | 19,600 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 34,800 | 34,700 | 34,900 | 0 | 34,100 | 34,250 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 31,900 | 31,800 | 32,000 | + 100 | 31,100 | 31,300 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 31,400 | 31,300 | 31,500 | + 150 | 30,500 | 30,800 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 31,300 | 31,200 | 31,400 | 0 | 31,200 | 31,700 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 33,300 | 33,200 | 33,400 | + 300 | 33,100 | 34,000 | |
| Billet | Ex-Mandi Gobindgarh | 100×100 mm, IS 2831 | 35,200 | 35,100 | 35,300 | 0 | 34,500 | 34,700 |
| Ex-Durgapur | 100×100 mm, IS 2831 | 32,350 | 32,300 | 32,400 | + 150 | 31,500 | 31,700 | |
| Ex-Rourkela | 100×100 mm, IS 2831 | 31,800 | 31,700 | 31,900 | + 200 | 30,900 | 31,300 | |
| Ex-Raipur | 100×100 mm, IS 2831 | 31,900 | 31,800 | 32,000 | + 100 | 31,700 | 32,000 | |
| Ex-Ahmedabad | 100×100 mm, IS 2831 | 33,750 | 33,700 | 33,800 | – 250 | 33,700 | 34,800 | |
| Ex-Mumbai | 100×100 mm, IS 2831 | 33,500 | 33,400 | 33,600 | + 300 | 33,300 | 34,200 | |
| Ex-Chennai | 100×100 mm, IS 2831 | 33,300 | 33,200 | 33,400 | + 300 | 32,300 | 33,800 | |
| Ex-Hyderabad | 100×100 mm, IS 2831 | 33,300 | 33,000 | 33,500 | + 300 | 32,500 | 33,500 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 38,900 | 38,700 | 39,100 | + 300 | 37,700 | 37,800 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 37,500 | 37,300 | 37,700 | 0 | 36,700 | 36,500 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 36,400 | 36,200 | 36,600 | + 200 | 36,000 | 36,100 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 37,100 | 36,900 | 37,300 | + 100 | 37,000 | 37,800 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 38,100 | 37,800 | 38,200 | + 300 | 37,400 | 38,600 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 37,000 | 36,800 | 37,200 | + 500 | 36,200 | 37,000 | |
| Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 37,700 | 37,500 | 38,500 | + 300 | 36,800 | 36,600 |
| Ex-Raipur | Wire Rod(5.5 MM) | 38,600 | 37,900 | 38,600 | 0 | 38,100 | 38,400 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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