Indian Steel prices continue to rise, however the trade activities was limited today owing to holidays mood among the participants.
As per daily assessment, the Rebar & Billet prices surge approximately by INR 100-300/MT, while Sponge iron fluctuates by INR 100/MT in major markets of Central, East, North & Western India.
The industry participants are assuming, domestic prices likely to remain supported as there is no selling pressure with the mid size mills and assumptions are high for further improve demand.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 30,900-34,700/MT (USD 442-497) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 19,900-21,200/MT (USD 285-304); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 31st December 2018 (Monday) INR to USD exchange rate stood at INR 69.75.
— ICEX (Indian Commodity Exchange Ltd) Jan’19 contract for STEELLONG today open at INR 33,320/MT & last traded (IST 18:22) at INR 33,340/MT.
— BSE Sensex closed at 36,068(-8) on Monday, as against last day (Friday) at 36,076(+269).
— NSE Nifty50 index was closed today at 10,862(+2).
Raw Materials
— Odisha Mining Corporation (OMC) – a state-owned miner is to conduct next e-auction for 390,000 MT iron ore fines on 05th Jan’19.
— Imported scrap offers to India for HMS (80:20) Europe origin containers stood at around USD 320/MT, CFR Nhava Sheva.
— Local manufacturers in Raigarh offered 60-14 Silico Manganese at around INR 68,000/MT ex-plant.
Semi Finished
— Raipur, Central India based Integrated plants have rolled over Sponge P-DRI prices to INR 19,500-19,600/MT ex-plant.
— Rashmi Metaliks in Durgapur has increased sponge prices by around INR 100-200/MT and today offers for P-DRI heard at around INR 19,900/MT-Sources.
— Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 20,000/MT & Billet at INR 30,800/MT ex-plant.
— Raigarh based Singhal Steel offered P-DRI at INR 19,000/MT ex-Raigarh, an official reported. Also, the company offered Billets at INR 31,800/MT FoR Raipur.
— BIOP Steels in South India has kept offers unaltered; offering FeM 80 & 82 C-DRI lumps at INR 20,100/MT & 20,500/MT ex-plant, Karnataka; an official reported.
— BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 19,700-19,800/MT ex-Bellary.
Wire Rod & Pipe
— Raipur based wire rod manufacturers kept offers unchanged and trade discount through the manufacturers/suppliers is around INR 500/MT. The offers for 5.5mm wire rod is hovering around INR 38,400/MT ex-Raipur & INR 38200-38,500/MT ex-Durgapur.
— Rashmi Metaliks offers unchanged and reported at INR 37,800/MT (5.5 mm), ex-Kharagpur, east India.
— Hyderabad (South India) based manufacturer Mahalakshmi Profiles Pvt. Ltd (MPL) has offered ERW Pipe at INR 40,000/MT ex-plant. (basic & excluding GST).
— Mandi Gobindgarh, North India based ERW pipe manufacturers reduced prices by INR 200/MT & offers reported at around INR 40,000/MT ex-plant & excluding GST.
Rebar (12 mm)
— Raipur based – GK TMT offering at INR 37,700/MT, offers unchanged.
— Raipur based – SPEED TMT unchanged their offering at INR 35,500/MT.
— Gujarat based Shreeyam Power & Steel Industries Ltd. (National TMT) unchanged their offering at INR 38,600/MT FoR.
— Gujarat based, Keyur Ispat Ltd unchanged their offering at INR 38,400/MT.
— Jalna based SRJ Peety Steels Pvt Ltd (Shree Om) TMT unchanged their offering at INR 36,800/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 31st December 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 26,500 | 26,400 | 26,600 | – 200 | 26,000 | 26,600 |
| Ex-Mumbai | HMS(80:20) | 25,500 | 25,400 | 25,700 | 0 | 25,200 | 25,700 | |
| Ex-Chennai | HMS(80:20) | 24,000 | 23,900 | 24,200 | 0 | 24,000 | 25,300 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 21,150 | 21,100 | 21,200 | + 150 | 19,700 | 21,500 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 20,000 | 19,900 | 20,100 | 0 | 19,800 | 20,700 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 21,100 | 21,000 | 21,200 | 0 | 21,000 | 21,700 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,900 | 19,800 | 20,000 | – 100 | 20,000 | 20,500 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 19,950 | 19,900 | 20,000 | + 150 | 18,500 | 20,500 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 19,600 | 19,500 | 19,700 | 0 | 19,500 | 20,200 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,550 | 19,500 | 19,600 | – 50 | 19,600 | 19,800 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 20,300 | 20,200 | 20,400 | 0 | 20,400 | 20,300 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 34,350 | 34,300 | 34,400 | + 500 | 32,850 | 34,550 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 31,700 | 31,600 | 31,800 | + 200 | 29,800 | 31,250 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 30,600 | 30,500 | 30,700 | + 200 | 29,600 | 30,400 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 30,900 | 30,800 | 31,000 | + 100 | 30,350 | 30,800 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 33,250 | 33,200 | 33,300 | – 50 | 33,200 | 32,900 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 34,650 | 34,600 | 34,700 | + 450 | 33,000 | 34,950 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 31,950 | 31,900 | 32,000 | + 50 | 30,300 | 31,600 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 30,900 | 30,800 | 31,000 | + 100 | 30,000 | 30,700 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 31,950 | 31,900 | 32,000 | + 150 | 30,750 | 31,200 | |
| Ex-Ahmedabad | 125×125 mm, IS 2831 | 33,900 | 33,800 | 34,000 | + 150 | 33,000 | 33,200 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 33,450 | 33,400 | 33,500 | – 50 | 33,400 | 33,100 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 33,200 | 33,000 | 33,300 | – 300 | 33,500 | 33,800 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 33,000 | 32,900 | 33,100 | 0 | 32,300 | 32,500 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 37,800 | 37,600 | 38,000 | + 200 | 36,800 | 37,400 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 36,800 | 36,600 | 37,000 | + 300 | 35,200 | 37,000 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 35,400 | 35,200 | 35,600 | 0 | 34,700 | 35,000 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 36,700 | 36,500 | 36,900 | 0 | 36,500 | 36,400 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 37,500 | 37,400 | 37,800 | 0 | 37,800 | 38,200 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 37,500 | 37,300 | 37,700 | 0 | 36,700 | 37,000 | |
| Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 38,300 | 38,100 | 38,500 | + 400 | 36,600 | 37,900 |
| Ex-Raipur | Wire Rod(5.5 MM) | 38,400 | 37,700 | 38,400 | 0 | 37,800 | 38,300 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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