Indian Semis & finished long steel prices registered volatility by INR 100-300/MT on day trade activities owing to average inquires. The participants have mentioned that, the mid sized mills are looking for bulk buyers as selling pressure exist with them, specifically in Sponge iron & Rebar.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 29,200-33,300/MT (USD 418-478) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 17,800-18,400/MT (USD 255-264); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 14th June 2019 (Friday) INR to USD exchange rate stood at INR 69.74.
— ICEX (Indian Commodity Exchange Ltd) Jul’19 contract for STEELLONG today open at INR 32,540/MT & last traded (IST 18:13) at INR 32,590/MT.
— BSE Sensex closed at 39452(-289) on Friday, as against last day (Thursday) at 39,741(-15).
— NSE Nifty50 index was closed today at 11,823(-90) & Nifty Metal at 2,944(-11).
Raw Materials
— Essar Steel sourced 0.47 MnT iron ore in May’19 from Odisha’s merchant mines, up 21% against Apr’19 sourcing at 0.39 MnT.
— India has recorded surge in ship breaking scrap imports by 18.1% in May’19 & marked at 147,118 LDT (16 ships) as against 124,614 LDT with 17 number ships in April.
— Rungta Mines, has dispatched the iron ore at 1.46 MnT in May’19, recorded 14% decline as against 1.70 MnT in Apr’19.
Semi Finished
— Amid falling Indian domestic sponge prices & decline in Bangladesh imported scrap prices, Indian sponge iron export offers have come down by USD 10-15/MT to USD 295/MT CPT Benapole (dry port of India & Bangladesh), equivalent to USD 310-315/MT CNF Chittagong, Bangladesh.
— Raipur based sponge producers have raised sponge price by INR 100/MT and as per them deals concluded for P-DRI at INR 17,100/MT as against last day at INR 17,000/MT ex-plant.
— Rashmi Metaliks in Durgapur, known as price trend setter, has kept Sponge P-DRI offers unaltered at INR 17,300-17,400/MT – Sources.
— East India, Odisha based manufacturer, Mahavir Ferro Alloys offered Billet at INR 29,500/MT ex-plant as per officials.However as per participants no major buyers at this prices. And also offering C-DRI mix material at INR 18,000/MT ex-plant.
— Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 18,000/MT & Billet at INR 29,100/MT ex-plant.
— BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 17,500/MT ex-Bellary; an official reported.
— Hare Krishna, a 300 TPD sponge manufacturer in Bellary, Karnataka has offered FeM 79-80 P-DRI at INR 17,500/MT ex-plant, an official reported.
— BIOP Steels in South India has offered FeM 80 & 82 C-DRI lumps at INR 18,200/MT & INR 18,600/MT ex-plant, Karnataka; an official reported.
Wire Rod & Pipe
— Trade discounts in Raipur Wire rod more or less firm today at INR 1,400-1,600/MT along with unaltered base price at INR 36,300/MT ex-Raipur. However in Durgapur base prices further drop to INR 34,500-35,300/MT ex-plant.
— Mandi Gobindgarh, North India based ERW pipe manufacturers offers reported at around INR 39,200/MT ex-plant & excluding GST. Offers decline by INR 100-200/MT D-o-D.
— Hyderabad (South India) based manufacturer Mahalakshmi Profiles Pvt. Ltd (MPL) has offered ERW Pipe at INR 38,800/MT ex-plant. (basic & excluding GST). Offers decline by INR 500/MT D-o-D.
Rebar (12 mm)
— Rathi Steels based in North region is offering at around INR 37,400/MT (ex-Delhi).
— Raipur based – SPEED TMT has unchanged their offers at INR 34,300/MT.
— Gujarat based Shreeyam Power & Steel Industries Ltd. (National TMT) is offering at INR 35,900/MT FoR.
— Jalna based Kalika Steels Alloys Pvt. Ltd. (Kalika TMT) has unchanged their offers at INR 35,500/MT.
— Jalna based SRJ Peety Steels Pvt Ltd (Shree Om) has unchanged their offers at INR 35,600/MT.
Note – Prices mentioned above are ex-work, excluding GST & changes are placed on day basis. Prices are subject to reconfirmation.
Reference prices as on 14th June 2019
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Raipur | HMS(80:20) | 24,400 | 24,300 | 24,500 | 0 | 24,900 | 24,800 |
| Ex-Mumbai | HMS(80:20) | 24,400 | 24,400 | 24,600 | 0 | 24,700 | 24,900 | |
| Ex-Chennai | HMS(80:20) | 22,900 | 22,700 | 23,000 | – 200 | 23,400 | 23,400 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 18,400 | 18,300 | 18,500 | + 100 | 19,000 | 18,900 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 17,900 | 17,800 | 18,000 | – 100 | 18,400 | 18,500 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 18,200 | 18,100 | 18,300 | 0 | 18,900 | 19,500 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 18,000 | 17,900 | 18,100 | – 100 | 18,800 | 18,700 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 17,350 | 17,300 | 17,400 | + 50 | 18,000 | 17,700 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 17,100 | 17,000 | 17,200 | + 50 | 17,800 | 18,400 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 17,500 | 17,400 | 17,600 | 0 | 18,400 | 18,300 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 18,000 | 17,900 | 18,100 | – 100 | 19,000 | 18,900 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 33,000 | 32,900 | 33,000 | + 150 | 33,800 | 33,900 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 29,700 | 29,600 | 29,800 | + 100 | 30,600 | 30,900 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 28,900 | 28,800 | 29,000 | 0 | 29,700 | 30,100 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 29,200 | 29,100 | 29,300 | + 100 | 30,000 | 30,500 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 30,850 | 30,800 | 30,900 | – 350 | 31,400 | 32,000 | |
| Billet | Ex-Mandi Gobindgarh | 100×100 mm, IS 2831 | 33,300 | 33,200 | 33,300 | + 100 | 34,100 | 34,200 |
| Ex-Durgapur | 100×100 mm, IS 2831 | 30,200 | 30,100 | 30,300 | + 200 | 31,000 | 31,400 | |
| Ex-Rourkela | 100×100 mm, IS 2831 | 29,200 | 29,100 | 29,300 | 0 | 30,100 | 30,400 | |
| Ex-Raipur | 100×100 mm, IS 2831 | 29,750 | 29,700 | 29,800 | + 150 | 30,600 | 31,100 | |
| Ex-Ahmedabad | 100×100 mm, IS 2831 | 32,000 | 31,900 | 32,100 | – 300 | 32,500 | 32,000 | |
| Ex-Mumbai | 100×100 mm, IS 2831 | 31,100 | 31,000 | 31,200 | – 300 | 31,700 | 32,300 | |
| Ex-Chennai | 100×100 mm, IS 2831 | 30,600 | 30,500 | 30,800 | – 200 | 31,400 | 31,500 | |
| Ex-Hyderabad | 100×100 mm, IS 2831 | 30,000 | 29,900 | 30,100 | 0 | 31,000 | 31,400 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 37,000 | 36,800 | 37,200 | 0 | 37,200 | 36,900 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 35,100 | 34,900 | 35,300 | 0 | 35,800 | 36,500 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 34,000 | 34,000 | 34,200 | 0 | 34,600 | 34,800 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 34,000 | 33,900 | 34,200 | – 300 | 34,600 | 35,600 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 35,800 | 35,700 | 36,000 | – 100 | 36,300 | 36,900 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 34,000 | 33,800 | 34,200 | 0 | 35,000 | 35,200 | |
| Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 34,900 | 34,500 | 35,300 | – 100 | 36,100 | 37,000 |
| Ex-Raipur | Wire Rod(5.5 MM) | 35,500 | 34,800 | 36,300 | 0 | 35,900 | 37,000 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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