Indian Iron & Steel market finds support after a constant fall in prices on improved demand from domestic buyers. As per daily assessment, the prices of Billet have increased sharply by INR 200-500/MT (USD 3-7) on day to day trade activities.
Further the slight rise is being observed in Rebars & Sponge iron by INR 100-300/MT in major markets of central & western India.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 30,300-34,300/MT (USD 420-476) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 20,200-21,500/MT (USD 280-299); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 14th December 2018 (Friday) INR to USD exchange rate stood at INR 71.97.
— ICEX (Indian Commodity Exchange Ltd) Jan’19 contract for STEELLONG today open at INR 33,780/MT & last traded (IST 18:25) at INR 33,830/MT.
— BSE Sensex closed at 35,962(+33) on Friday, as against last day (Thursday) at 35,929(+150).
— NSE Nifty50 index was closed today at 10,805(+13).
Raw Materials
— NMDC – India’s largest iron ore miner, production from Karnataka mines recorded at 0.69 MnT, down 38% on monthly basis as against 1.12 MnT in Oct’18.
— Odisha’s merchant iron ore miner – Rungta Mines iron ore dispatches dropped 22% M-o-M & stood at 1.31 MnT in Nov’18 against 1.68 MnT in Oct’18.
— South African RB2 (5500 NAR) coal offers are assessed at USD 62/MT on FoB basis & USD 76/MT CNF India.
Semi Finished
— Indian sponge iron export offers reduced by USD 5/MT W-o-W, price assessment for 78-80 FeM sponge lumps are at USD 325-330/MT CPT Benapole (dry land port of Bangladesh & India) and USD 345-350/MT CFR Chittagong, Bangladesh.
— Mid size mills export offers to Nepal from Durgapur, eastern India rebound to USD 430/MT as against last day at USD 425/MT, ex-mill.
— Raipur, Central India based Integrated plants offers increased by INR 100/MT, offering Sponge P-DRI at INR 19,900-20,000/MT & Sponge DR CLO grade at INR 22,500-22,700/MT ex-plant.
— Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 20,200/MT & Billet at INR 30,200/MT ex-plant.
— BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 19,700-19,800/MT ex-Bellary. Officials mentioned that they have sold good quantity of P-DRI to Hyderabad.
Finished Long
— Bokaro based a producer is offering blast furnace grade Wire rod at INR 44,000/MT for Low carbon (MS grade) & INR 46,000/MT for High Carbon, size-5.5 mm, ex-works & excluding GST.
— Hyderabad (South India) based Pipe manufacturer Mahalakshmi Profiles Pvt. Ltd (MPL) has offered ERW Pipe at INR 40,000/MT ex-plant. (basic & excluding GST).
— Raipur based wire rod manufacturers offer unchanged and trade discount through the manufacturers/suppliers slightly decreased at around INR 600-800/MT. The offers for 5.5 mm wire rod is hovering around INR 37,800/MT ex-Raipur & INR 37,200-37,500/MT ex-Durgapur.
— East region- Shakambhari Ispat & Power Ltd offers increased in wire rod by INR 500/MT and reported at INR 37,400/MT (size 5.5 mm, ex-works).
Rebar (12 mm)
— Vizag Steel (RINL) is currently offering 12 mm rebar at around INR 42,000-42,200/MT (ex-Chennai, GST extra) and 5.5 mm wire rod at INR 44,700-44,900/MT (ex-Chennai, GST extra, SAE1008 grade) as per sources.
— Raipur based – SPEED TMT offering at INR 35,200/MT, up by INR 400/MT
— Mumbai based Guardian TMT offering at INR 36,400/MT, up by INR 400/MT.
— Rathi Steels based in North region offers unchanged to INR 37,900/MT. Discount extra.
— Chennai based ARS Steel (Trusteel) kept offers unchanged to INR 40,000/MT.
— Gujarat based Shreeyam Power & Steel Industries Ltd (National TMT) offering at INR 44,500/MT FoR.
Note – The prices mentioned above based on ex-work and excluding GST and changes are placed on day basis.
Reference prices as on 14th December 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 26,400 | 26,300 | 26,500 | + 200 | 26,700 | 27,300 |
| Ex-Mumbai | HMS(80:20) | 25,800 | 25,700 | 25,900 | – 200 | 26,200 | 26,300 | |
| Ex-Chennai | HMS(80:20) | 24,600 | 24,500 | 24,700 | – 300 | 24,900 | 26,800 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 20,200 | 20,100 | 20,300 | 0 | 21,400 | 23,100 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 20,400 | 20,300 | 20,500 | 0 | 20,800 | 21,800 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 21,500 | 21,400 | 21,600 | + 100 | 22,000 | 22,600 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 20,300 | 20,200 | 20,400 | – 100 | 20,800 | 21,500 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 19,200 | 19,100 | 19,300 | + 50 | 20,400 | 22,100 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 20,000 | 19,900 | 20,100 | + 100 | 20,500 | 20,800 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,600 | 19,500 | 19,700 | – 200 | 20,200 | 20,800 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 20,600 | 20,500 | 20,700 | 0 | 20,800 | 21,500 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 34,000 | 34,000 | 34,100 | + 200 | 34,600 | 35,350 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 30,500 | 30,400 | 30,600 | + 400 | 31,300 | 33,200 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 30,000 | 29,900 | 30,100 | + 200 | 30,600 | 32,100 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 30,600 | 30,500 | 30,700 | + 400 | 31,100 | 32,500 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 32,900 | 32,800 | 33,000 | + 400 | 33,300 | 33,700 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 34,300 | 34,300 | 34,400 | + 200 | 34,900 | 36,150 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 31,000 | 30,900 | 31,100 | + 400 | 31,800 | 33,500 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 30,300 | 30,200 | 30,400 | + 100 | 30,800 | 32,700 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 31,250 | 31,200 | 31,300 | + 450 | 31,700 | 33,150 | |
| Ex-Ahmedabad | 125×125 mm, IS 2831 | 33,450 | 33,400 | 33,500 | + 350 | 33,800 | 34,500 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 33,200 | 33,100 | 33,300 | + 300 | 33,500 | 34,000 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 33,500 | 33,400 | 33,600 | 0 | 33,400 | 35,100 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 32,500 | 32,400 | 32,600 | + 500 | 33,000 | 34,500 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 37,200 | 37,000 | 37,400 | 0 | 37,600 | 38,800 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 36,100 | 35,900 | 36,300 | – 100 | 37,000 | 38,800 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 35,000 | 34,800 | 35,200 | + 200 | 35,400 | 36,300 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 36,300 | 35,900 | 36,100 | + 300 | 36,600 | 37,500 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 37,700 | 37,500 | 38,000 | 0 | 37,600 | 39,400 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 37,000 | 36,700 | 37,200 | + 200 | 37,500 | 38,500 | |
| Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 37,300 | 37,100 | 37,500 | + 300 | 38,000 | 39,700 |
| Ex-Raipur | Wire Rod(5.5 MM) | 37,800 | 37,100 | 37,800 | 0 | 38,800 | 39,900 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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