Indian steel prices slightly moved up in major markets despite average trade inquiries. Although selling pressure remained with the producers in Central & Eastern India, SteelMint learned.
The price rise noticed by INR 100-500/MT in Billet & Rebar, meanwhile sponge iron increase by INR 100-200/MT, day on day.
Standalone mills have stated that, “demand is not up to the mark since more than a week, resulting gradual rise in stock.”
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 32,600-36,100/MT (USD 457-507) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 20,500-21,500/MT (USD 288-302); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 20th February 2019 (Wednesday) INR to USD exchange rate stood at INR 71.17
— ICEX (Indian Commodity Exchange Ltd) Mar’19 contract for STEELLONG today open at INR 35,310/MT & last traded (IST 18:06) at INR 34,950/MT.
— BSE Sensex closed at 35,756(+403) on Wednesday, as against last day (Tuesday) at 35,352(-145).
— NSE Nifty50 index was closed today at 10,735(+131).
Raw Materials
— Melting scrap offers in Western India- Gujarat incline by INR 300/MT in a day trade activities.
Semi Finished
— Indian sponge iron export offers reduced by USD 5/MT W-o-W, price assessment for 80 FeM sponge lumps are at USD 330/MT CPT Benapole (dry land port of Bangladesh & India) and USD 350/MT CFR Chittagong, Bangladesh.
— As per market sources, Vizag Steel might cancel the export tender of 25,000 MT steel grade Pig iron tender amid lower bids received than company’s expectations. As per sources, the company received bids received around USD 340/MT, FOB India.The tender was due on 13 Feb’19 with offer validity till 20 Feb’19.
— Jharkhand Ispat is offering Sponge C-DRI 78-79 FeM (100% lumps) at INR 21,400/MT, 82+ FeM at INR 22,400/MT & Pellet Sponge (PDRI) at INR 19,800/MT, ex-plant.
— Raigarh, Central India based an Integrated plant has offered pig iron (steel grade) in merchant market after a long span and reported at INR 27,800-28,000/MT ex-plant.
— As per sources, Mesco Steels in Jajpur, Odisha has offered Pig iron at INR 27,000/MT & Billet at around INR 32,800/MT ex-plant.
— Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 20,800/MT & Billet at INR 32,800/MT ex-plant.
— South India (Telangana) based Cauvery Iron & Steel offers FeM 80 P-DRI & Billet at INR 20,800/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 21,600/MT & Billet at INR 35,200/MT ex-plant.
— BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 20,100-20,200/MT ex-Bellary, offers decline by INR 100-200/MT from the last trade; an official reported.
— BIOP Steels in South India has offered FeM 80 & 82 C-DRI lumps at INR 21,000/MT & 21,300/MT ex-plant, Karnataka; an official reported.
Finished Long
— Raipur (Central India) & Mandi Gobindgarh (North India) based pipe manufacturers kept offers at firm level, offering ERW pipe at around INR 39,000/MT & INR 42,100/MT; prices are ex-plant & excluding GST.
— A large mill is offering wire rod (6.5-7.0 mm) at around INR 41,000/MT ex-Vizag – Sources
— Raipur based wire rod manufacturers kept offers unchanged and trade discount through the manufacturers/suppliers is around INR 1,000-1,200/MT. The offers for 5.5 mm wire rod is hovering at around INR 40,000/MT ex-Raipur & INR 37,400-37,600/MT ex-Durgapur.
— Rashmi Metaliks wire rod offers unaltered & reported at INR 37,400/MT (5.5 mm) ex-Kharagpur, East India.
— Hyderabad (South India) based manufacturer Mahalakshmi Profiles Pvt. Ltd (MPL) has offered ERW Pipe at INR 40,800/MT ex-plant. (basic & excluding GST). Offers decline by INR 400/MT.
Reference prices as on 20th February 2019
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 26,100 | 26,000 | 26,200 | + 300 | 26,500 | 26,000 |
| Ex-Mumbai | HMS(80:20) | 25,500 | 25,300 | 25,700 | + 200 | 26,000 | 25,100 | |
| Ex-Chennai | HMS(80:20) | 25,100 | 25,000 | 25,300 | – 100 | 26,000 | 24,300 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 20,500 | 20,400 | 20,600 | 0 | 21,900 | 20,200 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 20,700 | 20,600 | 20,800 | + 200 | 21,400 | 19,300 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 21,500 | 21,400 | 21,600 | + 200 | 22,700 | 20,400 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 20,900 | 20,800 | 21,000 | – 100 | 21,600 | 19,100 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 19,300 | 19,200 | 19,400 | 0 | 20,800 | 19,200 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 20,500 | 20,400 | 20,600 | + 200 | 21,800 | 18,900 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 20,300 | 20,200 | 20,400 | – 100 | 21,000 | 18,500 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 20,800 | 20,700 | 20,900 | – 100 | 21,500 | 19,400 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 35,200 | 35,100 | 35,300 | – 100 | 35,900 | 34,150 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 32,300 | 32,200 | 32,400 | + 200 | 33,300 | 31,200 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 32,000 | 31,900 | 32,100 | 0 | 33,200 | 30,500 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 32,600 | 32,500 | 32,700 | + 200 | 33,800 | 31,000 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 35,800 | 35,700 | 35,900 | + 300 | 36,300 | 33,100 | |
| Billet | Ex-Mandi Gobindgarh | 100×100 mm, IS 2831 | 35,900 | 35,800 | 36,000 | – 100 | 36,500 | 34,550 |
| Ex-Durgapur | 100×100 mm, IS 2831 | 32,600 | 32,500 | 32,700 | + 100 | 33,800 | 31,700 | |
| Ex-Rourkela | 100×100 mm, IS 2831 | 32,700 | 32,600 | 32,800 | + 100 | 34,300 | 30,900 | |
| Ex-Raipur | 100×100 mm, IS 2831 | 33,600 | 33,500 | 33,700 | + 300 | 34,800 | 32,000 | |
| Ex-Ahmedabad | 100×100 mm, IS 2831 | 35,500 | 35,400 | 35,600 | + 300 | 35,850 | 33,350 | |
| Ex-Mumbai | 100×100 mm, IS 2831 | 36,100 | 36,000 | 36,200 | + 350 | 36,500 | 33,300 | |
| Ex-Chennai | 100×100 mm, IS 2831 | 34,700 | 34,500 | 34,800 | – 300 | 36,000 | 32,500 | |
| Ex-Hyderabad | 100×100 mm, IS 2831 | 34,500 | 34,400 | 34,600 | + 500 | 35,200 | 32,500 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 38,500 | 38,300 | 38,500 | 0 | 39,500 | 37,300 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 37,500 | 37,300 | 37,700 | + 200 | 38,600 | 35,800 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 36,600 | 36,500 | 36,800 | + 200 | 37,800 | 34,900 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 39,000 | 38,700 | 39,200 | + 300 | 39,700 | 36,400 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 39,000 | 38,900 | 39,300 | – 100 | 40,000 | 36,600 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 38,000 | 37,800 | 38,200 | + 500 | 39,000 | 36,700 | |
| Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 37,500 | 37,400 | 37,700 | 0 | 39,000 | 36,800 |
| Ex-Raipur | Wire Rod(5.5 MM) | 40,000 | 38,800 | 40,000 | 0 | 41,200 | 37,800 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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