Indian spot steel prices sharply surge by INR 300-600/MT in a day on improved demand in finished steel products amid positive outlook. The sources have reported better response from the stockiest & end user segment.
Further the industry participants are assuming, trades to remain supported as lifting of material to improve further with the end of elections in the country. In addition as the raw materials are tight, the sources are not looking weak trends.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 31,000-34,900/MT (USD 444-501) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 18,900-19,800/MT (USD 271-284); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 20th May 2019 (Monday) INR to USD exchange rate stood at INR 69.66.
— ICEX (Indian Commodity Exchange Ltd) Jun’19 contract for STEELLONG today open at INR 33,800/MT & last traded (IST 18:20) at INR 34,080/MT.
— BSE Sensex closed at 39,352(+1421) on Monday, as against last day (Friday) at 37,930(+537).
— NSE Nifty50 index was closed today at 11,828(+421).
Raw Materials
— According to the latest assessment of Coking coal, spot prices of the Premium HCC are reported at around USD 209.5/MT FoB Australia & USD 221.6/MT CNF India.
— South African RB2 (5500 NAR) coal offers are assessed at USD 56.01/MT on FoB basis & USD 69.01/MT CNF India.
Semi Finished
— Neo Metaliks in Durgapur reported improved inquiries for Pig iron and latest deals for steel grade reported at INR 27,800/MT as against last deals at INR 27,500-27,600/MT.
— Officials from Jindal Steel stated healthy bookings in Pig iron at the offers of INR 28,200/MT ex-Raigarh for steel grade. Meanwhile offers for granulated pig iron(panther shots) reported at INR 26,600-26,800/MT ex-plant, Odisha.
— Raipur based Integrated plants have raised Sponge P-DRI prices by INR 300/MT to INR 18,800-18,900/MT ex-plant and as per officials good volumes booked.
— Rashmi Metaliks in Durgapur has increased sponge P-DRI prices by INR 600-800/MT in last couple of days and fresh purchase by sources reported at INR 18,500-18,600/MT.
— Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 18,900/MT & Billet at INR 30,900/MT ex-plant.
— Raigarh based Singhal Steel offered P-DRI at INR 18,200/MT ex-Raigarh & Billet at INR 31,500/MT FoR Raipur, officials reported.
— BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 18,600/MT ex-Bellary, offers incline by INR 200/MT from the last trade; an official reported.
— BIOP Steels in South India has offered FeM 80 & 82 C-DRI lumps at INR 19,300/MT & INR 19,700/MT ex-plant, Karnataka; an official reported.
— Apple Industries in Bellary (Karnataka) offered Sponge FeM 83+ P-DRI lump at INR 20,000/MT & Billet at INR 32,000/MT ex-plant.
Wire Rod & Pipe
— Trade discounts in Raipur Wire rod reduced by INR 300/MT to INR 500-700/MT despite surge in base price by INR 300/MT to INR 37,500/MT ex-plant. Similarly in Durgapur basic prices rose by INR 300-400/MT to INR 37,200-38,500/MT ex-plant.
— Raipur, Central India based ERW pipe manufacturers offers reported at around INR 37,700-37,800/MT ex-plant & excluding GST.
— Mandi Gobindgarh, North India based ERW pipe manufacturers offers reported at around INR 40,300/MT ex-plant & excluding GST.
Rebar (12 mm)
— Rathi Steels based in North region current offering around INR 38,600/MT (ex-Delhi).
— Raipur based – SPEED TMT is offering at INR 35,400/MT (up by INR 400/MT).
— Real Ispat (GK TMT) is offering at INR 37,600/MT (up by INR 300/MT).
— Jalna based SRJ Peety Steels Pvt Ltd (Shree Om) is offering at INR 37,200/MT (up by INR 500/MT).
— Jalna based Rajuri Steel Pvt. Ltd. (Rajuri) TMT is offering at INR 37,100/MT (up by INR 600/MT).
— Mumbai based Guardian Castings Pvt. Ltd. (Guardian TMT) is offering at INR 36,300/MT (up by INR 500/MT).
— Mumbai based Vistar Metal Ind. Pvt. Ltd. (Vistar TMT) is offering at INR 36,500/MT (up by INR 700/MT).
— South region based – VRKP Steel Industry Pvt Ltd – (VRKP TMT) is offering at INR 37,500/MT (up by INR 400/MT).
— Chennai based Sakthi Ferro Alloys India Pvt. Ltd. (SSI TMT) is currently offering at INR 37,500/MT.
— Chennai based Ponneri Steel Ind. (Triple Power) is offering at INR 37,300/MT.
Note – Prices mentioned above are ex-work, excluding GST & changes are placed on day basis. Prices are subject to reconfirmation.
Reference prices as on 20th May 2019.
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 25,800 | 25,700 | 25,900 | + 300 | 25,900 | 26,800 |
| Ex-Mumbai | HMS(80:20) | 25,100 | 25,000 | 25,300 | + 200 | 24,900 | 24,800 | |
| Ex-Chennai | HMS(80:20) | 23,400 | 23,300 | 23,600 | 0 | 23,600 | 24,400 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 19,500 | 19,400 | 19,600 | + 500 | 18,700 | 19,900 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 18,900 | 18,800 | 19,000 | + 300 | 18,650 | 18,700 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 19,800 | 19,700 | 19,900 | + 300 | 19,600 | 19,500 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,000 | 18,900 | 19,100 | + 300 | 19,000 | 19,600 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 18,400 | 18,600 | 18,500 | + 400 | 17,500 | 18,600 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 18,800 | 18,700 | 18,900 | + 300 | 18,550 | 18,500 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 18,500 | 18,500 | 18,600 | + 200 | 18,500 | 19,300 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 19,000 | 18,900 | 19,100 | + 100 | 19,100 | 19,700 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 34,500 | 34,400 | 34,600 | + 500 | 33,800 | 34,100 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 31,500 | 31,400 | 31,600 | + 400 | 31,000 | 31,500 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 30,700 | 30,600 | 30,900 | + 600 | 30,100 | 30,600 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 30,900 | 30,800 | 31,000 | + 400 | 30,550 | 30,800 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 32,700 | 32,600 | 32,800 | + 700 | 32,700 | 32,850 | |
| Billet | Ex-Mandi Gobindgarh | 100×100 mm, IS 2831 | 34,850 | 34,800 | 34,900 | + 550 | 34,200 | 34,500 |
| Ex-Durgapur | 100×100 mm, IS 2831 | 32,000 | 31,900 | 32,100 | + 400 | 31,400 | 31,800 | |
| Ex-Rourkela | 100×100 mm, IS 2831 | 31,000 | 30,900 | 31,100 | + 500 | 30,500 | 30,900 | |
| Ex-Raipur | 100×100 mm, IS 2831 | 31,600 | 31,500 | 31,700 | + 500 | 31,100 | 31,400 | |
| Ex-Ahmedabad | 100×100 mm, IS 2831 | 32,800 | 32,800 | 33,000 | + 500 | 32,100 | 33,700 | |
| Ex-Mumbai | 100×100 mm, IS 2831 | 33,000 | 32,900 | 33,100 | + 700 | 33,100 | 33,100 | |
| Ex-Chennai | 100×100 mm, IS 2831 | 31,900 | 31,800 | 32,000 | + 200 | 31,800 | 33,000 | |
| Ex-Hyderabad | 100×100 mm, IS 2831 | 32,000 | 31,900 | 32,100 | + 500 | 31,500 | 32,300 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 37,500 | 37,400 | 37,700 | + 400 | 37,100 | 37,800 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 37,000 | 36,800 | 37,200 | + 400 | 36,500 | 37,100 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 35,200 | 35,100 | 35,400 | + 400 | 35,100 | 35,700 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 35,900 | 35,700 | 36,100 | + 300 | 36,100 | 36,700 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 37,100 | 36,800 | 37,300 | + 200 | 37,000 | 37,800 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 36,000 | 35,800 | 36,200 | + 500 | 35,300 | 36,000 | |
| Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 37,500 | 37,200 | 38,000 | + 300 | 36,900 | 37,200 |
| Ex-Raipur | Wire Rod(5.5 MM) | 37,100 | 36,800 | 37,500 | + 100 | 37,700 | 37,900 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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