India’s Semi – finished steel prices remain uptrend following active demand from the local mills. Today the prices surge near to INR 100-500/MT (upto USD 7) & towards the beginning of week by INR 1,000-1,500/MT (USD 14-21).
On day trade activities, the major rise in Billet prices seen in South & Western India by INR 400-500/MT followed by INR 100-300/MT in remaining locations.
In context to Sponge iron, prices increased by INR 100-300/MT in East & Southern India. Moreover in Central region the producers have maintained prices on average response from the local EA or Induction furnaces.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 32,400-35,900/MT (USD 457-507) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 20,200-21,300/MT (USD 285-301); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 1st March 2019 (Friday) INR to USD exchange rate stood at INR 70.86.
— ICEX (Indian Commodity Exchange Ltd) Apr’19 contract for STEELLONG today open at INR 34,900/MT & last traded (IST 18:11) at INR 35,120/MT.
— BSE Sensex closed at 36,063(+196) on Friday, as against last day (Thursday) at 35,867(-37).
— NSE Nifty50 index was closed today at 10,863(+71).
Raw Materials
— Essel Mining, a unit of Aditya Birla group is set to reduce its offers for iron ore lumps by INR 400/MT (USD 5.6). According to sources, prices after correction for 65% Fe calibrated iron ore lumps (5-18 mm, suitable for DRI plants) stands at INR 5,925 (USD 83.5) and 10-30mm (used by Blast Furnaces, 65%) stands at INR 5,525/MT (USD 77.8) including royalty and taxes on FoR basis.
— India’s DGFT exempts Pre Shipment Inspection Certificate for metal SCRAP imports at Mundra port.
— MMTC invites EOI for empanelment of mine owners/ suppliers/ traders for the supply of non-canalised Iron Ore Fines and CLO. The due date for submission of bids is 15:00 hrs on 11th Mar’19.
— SteelMint’s assessment for containerised Shredded from the Europe, UK and US stands in the range USD 325-330/MT, CFR Nhava Sheva, down by USD 5-10/MT against the last report.
Semi Finished
— In West Bengal – Durgapur, big manufacturers have increased sponge prices by INR 200/MT D-o-D; offering P-DRI at INR 18,900-19,100/MT.
— Raipur, Central India based Integrated plants offering Sponge P-DRI at INR 19,900-20,100/MT & Sponge DR CLO grade at INR 22,300-22,500/MT ex-plant.
— Raigarh based Singhal Steel offered P-DRI at INR 19,300/MT ex-Raigarh & Billet at INR 33,600/MT FoR Raipur, officials reported.
— Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 20,500-20,600/MT & Billet at INR 32,000/MT ex-plant. As per officials, billet deals are mostly concluded to North India market at this prices.
— Odisha based manufacturer, Ganesh Metaliks offered Billet at INR 32,500/MT ex-plant, an official reported.
— BIOP Steels in South India has offered FeM 80 & 82 C-DRI lumps at INR 20,300/MT & 20,700/MT ex-plant, Karnataka; an official reported.
— South India (Telangana) based Cauvery Iron & Steel offers FeM 80 P-DRI & Billet at INR 20,600/MT & INR 34,500/MT. Also offering 12 mm Rebar at INR 38,000/MT. All prices are ex-plant & excluding GST.
— Apple Industries in Bellary (Karnataka) offered Sponge FeM 83+ P-DRI lump at INR 21,100/MT & Billet at INR 34,800/MT ex-plant.
Wire Rod & Pipe
— Raipur based wire rod manufacturers increased offers by INR 300/MT and trade discount through the manufacturers/suppliers is around INR 700-800/MT. The offers for 5.5 mm wire rod is hovering at around INR 40,000/MT ex-Raipur & INR 37,500-37,700/MT ex-Durgapur.
— Rashmi Metaliks increased offers & reported at INR 37,500/MT (5.5 mm) ex-Kharagpur, East India.
— Hyderabad (South India) based manufacturer Mahalakshmi Profiles Pvt. Ltd (MPL) has offered ERW Pipe at INR 40,300/MT ex-plant. (basic & excluding GST).
Rebar (12 mm)
— Raipur based – GK TMT offering at INR 39,200/MT (offers unchanged).
— Raipur based – SPEED TMT offering at INR 36,900/MT (Up by INR 100/MT).
— Gujarat based, Mono Steel (India) Ltd. (Mono TMT) current offering around INR 39,800/MT FoR.
— Gujarat based Akshar Ispat Ltd. (Akshat TMT) offering at INR 40,200/MT FoR (Up by INR 300/MT)
— Jalna based SRJ Peety Steels Pvt Ltd (Shree Om) TMT unchanged their offering at INR 38,800/MT.
— Chennai based ARS Steel (ARS 500 D) unchanged their offering at INR 41,300/MT.
Note – Prices mentioned above are ex-work, excluding GST & changes are placed on day basis.
Reference prices as on 1st March 2019
| 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 | 25,900 |
| Ex-Mumbai | HMS(80:20) | 25,400 | 25,300 | 25,500 | + 100 | 25,300 | 25,100 | |
| Ex-Chennai | HMS(80:20) | 25,500 | 25,300 | 25,600 | + 200 | 25,200 | 24,500 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 20,200 | 20,100 | 20,300 | + 200 | 19,900 | 20,600 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 20,400 | 20,300 | 20,600 | 0 | 20,300 | 19,500 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 21,300 | 21,200 | 21,400 | 0 | 21,100 | 20,300 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 20,400 | 20,300 | 20,500 | + 100 | 20,500 | 19,300 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 19,000 | 18,900 | 19,100 | + 200 | 18,700 | 19,300 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 20,000 | 19,900 | 20,100 | 0 | 20,000 | 19,200 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 20,100 | 20,000 | 20,200 | + 100 | 20,100 | 18,800 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 20,600 | 20,500 | 20,700 | + 100 | 20,700 | 19,300 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 35,300 | 35,200 | 35,400 | + 300 | 34,800 | 34,000 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 32,100 | 32,000 | 32,200 | + 300 | 31,500 | 31,300 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 32,050 | 32,000 | 32,100 | + 350 | 31,500 | 30,600 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 32,950 | 32,900 | 33,000 | + 250 | 32,200 | 31,000 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 35,300 | 35,200 | 35,400 | + 100 | 35,500 | 33,300 | |
| Billet | Ex-Mandi Gobindgarh | 100×100 mm, IS 2831 | 35,600 | 35,500 | 35,700 | + 200 | 35,300 | 34,400 |
| Ex-Durgapur | 100×100 mm, IS 2831 | 32,600 | 32,500 | 32,700 | + 300 | 31,900 | 31,800 | |
| Ex-Rourkela | 100×100 mm, IS 2831 | 32,400 | 32,300 | 32,500 | + 200 | 32,300 | 31,200 | |
| Ex-Raipur | 100×100 mm, IS 2831 | 33,650 | 33,600 | 33,700 | + 150 | 33,200 | 32,000 | |
| Ex-Ahmedabad | 100×100 mm, IS 2831 | 35,850 | 35,800 | 36,000 | + 550 | 35,450 | 33,300 | |
| Ex-Mumbai | 100×100 mm, IS 2831 | 35,650 | 35,600 | 35,700 | + 200 | 35,700 | 33,500 | |
| Ex-Chennai | 100×100 mm, IS 2831 | 34,500 | 34,400 | 34,600 | + 350 | 34,500 | 32,500 | |
| Ex-Hyderabad | 100×100 mm, IS 2831 | 35,000 | 34,900 | 35,100 | + 500 | 34,000 | 32,500 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 38,200 | 38,000 | 38,400 | + 300 | 38,100 | 36,800 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 37,300 | 37,100 | 37,500 | + 500 | 36,800 | 36,300 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 36,700 | 36,500 | 36,900 | + 400 | 36,300 | 34,800 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 38,600 | 38,400 | 39,000 | + 300 | 39,100 | 36,800 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 38,700 | 38,500 | 38,900 | + 200 | 38,800 | 36,800 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 38,300 | 38,100 | 38,500 | + 800 | 37,800 | 36,200 | |
| Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 37,600 | 37,300 | 37,700 | + 300 | 37,000 | 36,600 |
| Ex-Raipur | Wire Rod(5.5 MM) | 40,000 | 39,200 | 40,000 | + 300 | 39,700 | 37,800 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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