Indian Steel prices further surge through the mid sized mills on active demand and the price rise noticed by INR 100-700/MT (upto USD 10) in across major markets.
The Sponge iron prices rise by INR 100-400/MT & Billet at close to INR 100-500/MT. Meanwhile Rebar increases in the range of INR 100-700/MT and majorly in North & Western regions.
As per producers, presently their is no selling pressure with them and are hopeful for further surge in prices as demand is good amid strengthening raw materials.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 34,000-36,700/MT (USD 481-520) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 21,500-22,700/MT (USD 304-322); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 12th February 2019 (Tuesday) INR to USD exchange rate stood at INR 70.62.
— ICEX (Indian Commodity Exchange Ltd) Mar’19 contract for STEELLONG today open at INR 35,780/MT & last traded (IST 18:33) at INR 35,840/MT.
— BSE Sensex closed at 36,153(-241) on Tuesday, as against last day (Monday) at 36,395(-151).
— NSE Nifty50 index was closed today at 10,831(-57).
Raw Materials
— The major merchant miners in Odisha has further increased Iron ore prices today by INR 400-600/MT.
— Raipur (Central India) based pellet makers have increased offers almost three month high to INR 8,000/MT (Ex-Raipur) against the last week’s assessment at INR 6,800/MT.
— According to the sources report to SteelMint, Karnataka High Court has postponed hearing further on NMDC Donimalai lease renewal issue to 14th Feb.
— Imported scrap offers to India for HMS (80:20) Europe origin containers stood at around USD 320/MT, CFR Nhava Sheva.
Semi Finished
— Jindal Steel has raised offers and reported granulated pig iron (panther shots) at INR 27,000/MT & pooled iron at INR 26,000/MT ex-plant, Angul, Odisha. Also the company is offering bulk purchase discount of INR 500/MT.
— India’s Vizag Steel concluded 15,000 MT ocean Billet (90*90 mm) export tender at around USD 440/MT, FoB. Company also concluded Billet export tender to Nepal at around USD 435-440/MT ex-mill
— Indian sponge iron export offers to Bangladesh increased by USD 15/MT W-o-W for lumps of grade FeM 78-80 & recorded at USD 335/MT CPT Benapole (dry land port of Bangladesh & India) and USD 355/MT CFR Chittagong, Bangladesh
— East India, Odisha based manufacturers Mahavir Ferro Alloys & Ganesh Metaliks offered Billet at INR 34,500/MT ex-plant, as per officials.
— Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 21,500/MT & Billet at INR 34,000/MT ex-plant.
— BIOP Steels in South India has increased sponge prices by INR 400/MT, offering FeM 80 & 82 C-DRI lumps at INR 21,500/MT & INR 22,000/MT ex-plant, Karnataka; an official reported.
— BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 21,000/MT ex-Bellary, offers incline by INR 200/MT from the last trade; an official reported.
— South India (Telangana) based Cauvery Iron & Steel offers FeM 80 P-DRI & Billet at INR 21,500/MT & INR 35,000/MT. Also offering 12 mm Rebar at INR 38,500/MT. All prices are ex-plant & excluding GST
Wire Rod & Pipe
— Raipur based wire rod manufacturers increased offers by INR 300/MT and trade discount through manufacturers/suppliers is around INR 500-800/MT. The offers for 5.5 mm wire rod is hovering around INR 41,200/MT ex-Raipur & INR 39,000-39,500/MT ex-Durgapur.
— Rashmi Metaliks kept wire rod offers unchanged & reported at INR 39,000/MT (5.5 mm) ex-Kharagpur, East India.
— Mandi Gobindgarh, North India based ERW pipe manufacturers increased prices by INR 700/MT & offers reported at around INR 42,700/MT ex-plant & excluding GST.
— Hyderabad (South India) based manufacturer Mahalakshmi Profiles Pvt. Ltd (MPL) has offered ERW Pipe at INR 42,000/MT ex-plant. (basic & excluding GST).
Rebar (12 mm)
— Raipur based – SPEED TMT offering at INR 38,000/MT (up by INR 100/MT).
— Raipur based GK TMT offering at INR 40,200/MT (up by INR 500/MT).
— Gujarat based Shreeyam Power & Steel Industries Ltd. (National TMT) offering at INR 40,200/MT FoR (up by INR 400/MT).
— Jalna based Kalika TMT offering at INR 39,300/MT (up by INR 200/MT).
— Mumbai based Guardian TMT offering at INR 39,700/MT (up by INR 500/MT).
Note – Prices mentioned above are ex-work, excluding GST & changes are placed on day basis.
Reference prices as on 12th February 2019
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 27,000 | 26,900 | 27,100 | + 200 | 26,500 | 25,900 |
| Ex-Mumbai | HMS(80:20) | 25,800 | 25,700 | 25,900 | 0 | 25,300 | 25,000 | |
| Ex-Chennai | HMS(80:20) | 25,400 | 25,200 | 25,600 | 0 | 24,500 | NA | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 22,000 | 21,900 | 22,100 | – 100 | 21,100 | 20,200 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 21,400 | 21,300 | 21,500 | + 400 | 19,800 | 19,400 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 22,700 | 22,600 | 22,800 | + 200 | 20,900 | 20,150 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 21,500 | 21,400 | 21,600 | + 200 | 19,700 | 19,100 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 20,900 | 20,800 | 21,000 | + 100 | 19,800 | 19,100 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 21,800 | 21,700 | 21,900 | + 100 | 19,900 | 18,650 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 20,900 | 20,800 | 21,000 | + 100 | 19,300 | 18,700 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 21,500 | 21,400 | 21,600 | + 200 | 19,600 | NA | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 36,250 | 36,200 | 36,300 | + 50 | 34,500 | 33,600 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 33,500 | 33,400 | 33,600 | 0 | 32,000 | 30,700 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 33,400 | 33,300 | 33,500 | + 100 | 31,100 | 30,000 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 34,150 | 34,100 | 34,200 | 0 | 31,800 | 30,700 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 36,300 | 36,200 | 36,400 | + 300 | 34,300 | 32,900 | |
| Billet | Ex-Mandi Gobindgarh | 100×100 mm, IS 2831 | 36,700 | 36,600 | 36,800 | 0 | 34,900 | 33,800 |
| Ex-Durgapur | 100×100 mm, IS 2831 | 34,000 | 33,900 | 34,100 | 0 | 32,500 | 31,200 | |
| Ex-Rourkela | 100×100 mm, IS 2831 | 34,300 | 34,200 | 34,400 | + 300 | 31,700 | 30,500 | |
| Ex-Raipur | 100×100 mm, IS 2831 | 35,150 | 35,100 | 35,200 | + 50 | 32,900 | 31,400 | |
| Ex-Ahmedabad | 100×100 mm, IS 2831 | 36,300 | 36,200 | 36,400 | + 500 | 34,400 | 33,500 | |
| Ex-Mumbai | 100×100 mm, IS 2831 | 36,600 | 36,500 | 36,700 | + 400 | 34,500 | 33,100 | |
| Ex-Chennai | 100×100 mm, IS 2831 | 35,200 | 35,200 | 35,500 | 0 | 33,000 | 32,600 | |
| Ex-Hyderabad | 100×100 mm, IS 2831 | 35,200 | 35,000 | 35,500 | – 300 | 33,000 | 32,500 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 39,500 | 39,300 | 39,700 | + 400 | 37,500 | 37,200 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 38,800 | 38,600 | 39,000 | + 300 | 37,000 | 35,800 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 37,800 | 37,700 | 38,000 | + 100 | 35,400 | 35,000 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 39,300 | 39,100 | 39,600 | + 600 | 37,600 | 36,400 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 39,000 | 38,800 | 39,300 | 0 | 37,100 | NA | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 39,000 | 38,800 | 39,200 | 0 | 37,000 | 37,000 | |
| Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 39,400 | 39,200 | 39,600 | 0 | 37,400 | 36,800 |
| Ex-Raipur | Wire Rod(5.5 MM) | 41,200 | 40,700 | 41,200 | + 300 | 38,400 | 38,100 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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