Indian steel prices increase sharply by INR 200-700/MT (USD 3-10) on today’s trade following improved demand from domestic buyers.
As per assessment the Rebar & Billet prices surge by INR 200-700/MT, while sponge iron inched up through the mid size mills, day-on-day.
The industry participants are assuming, domestic demand to remain supported looking at bottom line prices & peak season for the construction activities.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 30,200-33,600/MT (USD 431-480) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 19,700-20,700/MT (USD 281-296); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 26th December 2018 (Wednesday) INR to USD exchange rate stood at INR 70.03.
— ICEX (Indian Commodity Exchange Ltd) Jan’19 contract for STEELLONG today open at INR 32,540/MT & last traded (IST 18:23) at INR 32,910/MT.
— BSE Sensex closed at 35649(+179) on Wednesday, as against last day (Monday) at 35,470(-271).
— NSE Nifty50 index was closed today at 10,729(+66).
Raw Materials
— East India, Durgapur pellet prices have moved down by INR 200-300/MT W-o-W & hit seven months low to INR 6,100-6,200/MT.
— South African RB2 (5500 NAR) coal offers are assessed at USD 64/MT on FoB basis & USD 78/MT CNF India.
Semi Finished
— NINL extended domestic Pig iron price circular due date to 27th Dec’18 as against earlier on 21st Dec’18. The company’s offer for Steel (N1) grade hovering at INR 27,500-27,900/MT, N2 grade at INR 28,500/MT & Foundry (High silicon) grade at INR 29,000/MT; ex-Cuttack, East India.
— Indian large mill export offers to Nepal hovering for Billet at USD 470/MT & Wire rod at USD 540-550/MT. However the mid size mills offering Induction grade Billet at USD 435-440/MT & Wire rod at USD 520-525/MT. The prices are ex-mill at Bengal, eastern India.
— As per officials of Atibir Industries, Giridih – Jharkhand, deals concluded for steel grade Pig iron at around INR 29,000/MT ex-plant.
— Raipur, Central India based Integrated plants offering Sponge P-DRI at INR 19,400-19,600/MT & Sponge DR CLO grade at INR 21,900-22,100/MT ex-plant
— Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 19,700/MT & Billet at INR 30,000/MT ex-plant.
— BMM Ispat in South India (Karnataka) has increased offers for FeM 80 P-DRI by INR 100/MT to INR 19,600-19,700/MT ex-Bellary, an official reported.
— BIOP Steels in South India has decreased sponge prices by INR 100-200/MT, offering FeM 80 & 82 C-DRI lumps at INR 20,100/MT & INR 20,500/MT ex-plant, Karnataka; an official reported.
— South India (Telangana) based Cauvery Iron & Steel offers FeM 80 P-DRI & Billet at INR 20,000/MT & INR 32,700/MT. Also offering 12 mm Rebar at INR 37,000/MT. All prices are ex-plant & excluding GST.
Wire Rod & Pipe
— Raipur based wire rod manufacturers kept offers unchanged and trade discount through the manufacturers/suppliers is reduced upto INR 500/MT. The offers for 5.5 mm wire rod is hovering around INR 37,500/MT ex-Raipur & INR 36,800-37,000/MT ex-Durgapur.
— Rashmi Metaliks offers increase by INR 400/MT and reported at INR 36,900/MT (5.5 mm), ex-Kharagpur, East India.
— Mandi Gobindgarh, North India based ERW pipe manufacturers offers at around INR 39,400/MT ex-plant & excluding GST.
Rebar (12 mm)
— Rathi Steels based in North region unchanged their offering at around INR 38,000/MT.
— Raipur based – SPEED TMT unchanged their offering at INR 34,900/MT.
— Gujarat based Shreeyam Power & Steel Industries Ltd. (National TMT) offering at INR 38,200/MT FoR.
— Mumbai based Guardian TMT increased offering by INR 100/MT and at INR 36,900/MT.
— Jalna based Kalika Steel Alloys Pvt Ltd unchanged their offering at INR 36,900/MT.
— Chennai based ARS Steel (ARS 500 D) unchanged their offering at INR 41,000/MT.
Note – The prices mentioned above are ex-work, excluding GST & changes are on day basis.
Reference prices as on 26th December 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 26,000 | 25,900 | 26,100 | 0 | 26,800 | 26,200 |
| Ex-Mumbai | HMS(80:20) | 25,500 | 25,400 | 25,600 | + 300 | 25,500 | 25,500 | |
| Ex-Chennai | HMS(80:20) | 24,200 | 24,000 | 24,400 | + 200 | 24,100 | 25,800 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 20,000 | 19,900 | 20,100 | + 300 | 20,700 | 21,300 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 19,800 | 19,700 | 19,900 | 0 | 20,300 | 20,600 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 20,700 | 20,600 | 20,800 | – 300 | 21,600 | 21,500 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 20,000 | 19,900 | 20,100 | 0 | 20,300 | 20,400 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 18,900 | 18,800 | 19,000 | + 400 | 19,500 | 20,300 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 19,500 | 19,400 | 19,600 | 0 | 20,000 | 20,100 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,600 | 19,500 | 19,700 | 0 | 19,800 | 19,900 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 20,300 | 20,200 | 20,300 | – 100 | 20,700 | 20,300 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 33,500 | 33,400 | 33,600 | + 650 | 33,950 | 33,600 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 30,500 | 30,400 | 30,600 | + 700 | 30,900 | 31,000 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 29,800 | 29,700 | 29,900 | + 200 | 30,300 | 30,000 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 30,400 | 30,300 | 30,500 | + 50 | 30,800 | 30,500 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 33,400 | 33,300 | 33,500 | + 200 | 33,700 | 32,500 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 33,600 | 33,500 | 33,700 | + 600 | 34,100 | 34,100 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 31,000 | 30,900 | 31,100 | + 700 | 31,300 | 31,350 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 30,250 | 30,200 | 30,300 | + 250 | 30,600 | 30,500 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 31,300 | 31,200 | 31,400 | + 550 | 31,600 | 30,800 | |
| Ex-Ahmedabad | 125×125 mm, IS 2831 | 33,200 | 33,100 | 33,300 | + 200 | 33,900 | 32,800 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 33,600 | 33,500 | 33,700 | + 200 | 33,900 | 32,700 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 33,500 | 33,400 | 33,600 | 0 | 33,500 | 34,000 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 32,700 | 32,500 | 33,000 | + 400 | 33,000 | 32,500 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 36,800 | 36,600 | 37,000 | 0 | 37,900 | 36,700 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 35,300 | 35,200 | 35,400 | + 100 | 36,300 | 36,700 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 34,800 | 34,700 | 34,900 | + 100 | 35,800 | 34,700 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 36,700 | 36,500 | 36,900 | + 200 | 37,200 | 36,300 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 37,800 | 37,600 | 38,000 | 0 | 37,700 | 38,500 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 37,000 | 36,800 | 37,200 | + 300 | 37,000 | 37,000 | |
| Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 36,900 | 36,800 | 37,000 | +300 | 37,400 | 37,400 |
| Ex-Raipur | Wire Rod(5.5 MM) | 37,500 | 37,000 | 37,500 | – 300 | 38,800 | 38,600 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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