In the week opening, domestic Semi finished market rise marginally amid average trade activities and as per assessment, the price rise seen in Sponge iron by INR 100-200/MT & Billet by INR 100-400/MT D-o-D.
Major price hike seen in billet by INR 400/MT in Mumbai, Maharashtra west India.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 31,400-34,700/MT (USD 436-483) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 19,400-20,700/MT (USD 269-288); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 4th February 2019 (Monday) INR to USD exchange rate stood at INR 71.89.
— ICEX (Indian Commodity Exchange Ltd) Feb’19 contract for STEELLONG today open at INR 33,840/MT & last traded (IST 18:39) at INR 34,030/MT.
— BSE Sensex closed at 36,582(+113) on Monday, as against last day (Friday) at 36,469(+212).
— NSE Nifty50 index was closed today at 10,912(+18).
Raw Materials
— Odisha based major merchant miners including Rungta Mines, Serajuddin Mines have raised iron ore lump & fines prices by INR 200-300/MT. After hike 5-18 mm (Fe 63%) is around INR 4000-4200/MT (ex-mines) and fines (Fe 63%) around INR 2000-2100/MT (ex-mines, including royalty, DMF & NMET)
— Vedanta Ltd. has recently announced its Q3 FY19 results, the total iron ore sales recorded at 0.7 MnT, down sharply by 63% as against Q3 FY18 at 1.8 MnT.
— Sarda Energy & Minerals Limited (SEML) reported highest ever iron ore production of 297,648 MT in 9M FY19 and consumption of 379,137 MT- Reports.
— NMDC Kumaraswamy has decreased fines (Fe 62.7%) base price by around INR 150/MT to INR 2,264/MT (basic) & for Fe 64% lump by INR 300/MT to around INR 2,809 /MT (basic). All prices mentioned are basic. Royalty and other taxes extra
Semi Finished
— Jindal Steel has increased prices by around INR 200-300/MT and latest offers for Steel grade pig iron reported at INR 27,700/MT ex-plant, Raigarh & Panther shots (granulated pig iron) at INR 26,500/MT ex-plant, Angul, Odisha.
— RSP (Rourkela Steel Plant) tender held on 2nd Feb’19 to sell about 10,000 MT steel grade Pig iron. The base price of the tender was at INR 26,800/MT and 6,600 MT quantity have been sold out.
— Ludhiana, North India based trade participants reported steel & foundry grade pig iron offers at INR 29,500/MT & INR 31,000-31,200/MT on FoR basis & excluding 18% GST.
— Neo Metaliks in Durgapur – West Bengal has kept offers unaltered for Pig iron and are assessed at INR 27,300-27,400/MT(steel grade) ex-plant & Foundry grade at INR 31,600-31,700/MT, ex-plant. However as per participants no major deals at this prices.
— Raipur, Central India based Integrated plants offering Sponge P-DRI at INR 19,400-19,500/MT & Sponge DR CLO grade at INR 21,500-21,600/MT ex-plant.
— Rashmi Metaliks in Durgapur, known as price trend setter, has offered Sponge P-DRI at INR 19,500-19,600/MT – Sources.
— Raigarh based Singhal Steel offered P-DRI at INR 18,500/MT ex-Raigarh & Billet at INR 32,200/MT FoR Raipur, officials reported.
— Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 19,700/MT & Billet at INR 31,400/MT ex-plant.
— East India, Odisha based manufacturer, Mahavir Ferro Alloys offered Billet at INR 31,500/MT ex-plant as per officials.
— Bellary, Karnataka based furnace owners offering billet at around INR 32,600-32,700/MT on ex-plant basis.
— Hare Krishna, a 300 TPD sponge manufacturer in Bellary, Karnataka has offered FeM 80 P-DRI at INR 19,000-19,200/MT ex-plant, an official reported.
— BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 19,200/MT ex-Bellary, offers incline by INR 400/MT from the last trade; an official reported.
Finished long
— Raipur based wire rod manufacturers kept prices unchanged and trade discount through manufacturers/suppliers is around INR 900-1,100/MT. The offers for 5.5 mm wire rod is hovering around INR 38,000/MT ex-Raipur & INR 37,000-37,200/MT ex-Durgapur.
— As per sources, Steel Authority of India (SAIL) has increased in long product prices by INR 300/MT for Feb’19 across India.
— Mandi Gobindgarh, North India based ERW pipe manufacturers increased prices by INR 200/MT & offers reported at around INR 40,200/MT ex-plant & excluding GST.
Rebar (12mm)
— Raipur based – SPEED TMT increased their offers by INR 200/MT to INR 35,500/MT.
— Raigarh based Anjani Steels Ltd. (Radhe TMT) unchanged their offering at INR 35,000/MT.
— Gujarat based Shreeyam Power & Steel Industries Ltd. (National TMT) unchanged their offering at INR 38,500/MT FoR.
— Jalna based SRJ Peety Steels Pvt Ltd (Shree Om) TMT offering at INR 37,500/MT (Up by INR 700/MT).
— West region based Bhagwati Ferro Metal (P) Ltd offering at INR 37,500/MT (Up by INR 300/MT).
— Mumbai based Guardian Castings Pvt. Ltd. (Guardian TMT) offering at INR 37,500/MT (Up by INR 400/MT).
— Chennai based Sakthi Ferro Alloys India Pvt. Ltd. (SSI TMT) unchanged their offering at INR 37,000/MT.
— Chennai based Ponneri Steel Ind. (Triple Power) unchanged their offering at INR 37,500/MT.
Note – Prices mentioned above are ex-work, excluding GST & changes are placed on day basis.
Reference prices as on 4th February 2019
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 26,200 | 26,100 | 26,300 | 0 | 25,700 | 25,400 |
| Ex-Mumbai | HMS(80:20) | 25,300 | 25,100 | 25,400 | + 200 | 25,200 | 25,100 | |
| Ex-Chennai | HMS(80:20) | 24,500 | 24,400 | 24,700 | 0 | 24,400 | 24,400 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 20,700 | 20,600 | 20,800 | 0 | 20,700 | 20,100 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 19,600 | 19,500 | 19,700 | 0 | 19,400 | 19,400 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 20,500 | 20,400 | 20,600 | 0 | 20,500 | 20,200 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,400 | 19,300 | 19,500 | + 100 | 19,300 | 19,500 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 19,500 | 19,400 | 19,600 | – 100 | 19,600 | 19,000 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 19,400 | 19,300 | 19,500 | + 100 | 19,000 | 18,600 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,100 | 19,000 | 19,200 | + 200 | 18,800 | 19,000 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 19,500 | 19,400 | 19,600 | + 100 | 19,400 | 19,600 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 34,300 | 34,200 | 34,400 | + 200 | 34,050 | 33,300 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 31,800 | 31,700 | 31,800 | + 200 | 31,400 | 30,400 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 30,800 | 30,700 | 30,800 | + 100 | 30,450 | 29,750 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 31,300 | 32,200 | 32,400 | + 150 | 31,000 | 30,100 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 34,000 | 33,900 | 34,100 | + 400 | 33,600 | 32,500 | |
| Billet | Ex-Mandi Gobindgarh | 100×100 mm, IS 2831 | 34,700 | 34,600 | 34,800 | + 200 | 34,500 | 33,600 |
| Ex-Durgapur | 100×100 mm, IS 2831 | 32,300 | 32,200 | 32,300 | + 200 | 31,800 | 30,800 | |
| Ex-Rourkela | 100×100 mm, IS 2831 | 31,400 | 31,300 | 31,500 | + 100 | 31,100 | 30,300 | |
| Ex-Raipur | 100×100 mm, IS 2831 | 32,400 | 32,300 | 32,400 | + 250 | 32,000 | 30,900 | |
| Ex-Ahmedabad | 100×100 mm, IS 2831 | 34,100 | 34,000 | 34,200 | + 200 | 33,400 | 33,000 | |
| Ex-Mumbai | 100×100 mm, IS 2831 | 34,200 | 34,100 | 34,300 | + 400 | 33,800 | 32,700 | |
| Ex-Chennai | 100×100 mm, IS 2831 | 32,800 | 32,800 | 33,000 | + 300 | 32,700 | 33,000 | |
| Ex-Hyderabad | 100×100 mm, IS 2831 | 32,500 | 32,400 | 32,600 | 0 | 32,000 | 32,000 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 37,400 | 37,300 | 37,500 | + 300 | 37,200 | 36,800 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 36,600 | 36,400 | 36,800 | + 100 | 36,300 | 35,800 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 35,300 | 35,200 | 35,500 | + 200 | 35,000 | 34,700 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 37,200 | 36,900 | 37,400 | + 300 | 36,900 | 36,100 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 36,900 | 36,800 | 37,200 | 0 | 36,800 | 37,200 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 36,500 | 36,300 | 36,700 | 0 | 36,200 | 36,700 | |
| Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 37,100 | 36,900 | 37,300 | 0 | 37,000 | 36,800 |
| Ex-Raipur | Wire Rod(5.5 MM) | 38,000 | 37,000 | 38,000 | 0 | 38,100 | 37,900 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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