Indian spot steel trade activities remains limited due to holidays mood and the prices marginally fall by INR 100-300/MT.
On daily analysis, Billet & Rebar prices have declined by INR 100-300/MT, meanwhile Sponge iron fluctuated by INR 100-200/MT in major markets.
Industry participants mentioned that, the current prices are at bottom level looking at low conversions (margins) and if raw materials move down than there is scope for downtrend in prices.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 30,500-34,100/MT (USD 442-494) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 18,600-19,700/MT (USD 269-286); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 19th March 2019 (Tuesday) INR to USD exchange rate stood at INR 68.96.
— ICEX (Indian Commodity Exchange Ltd) Apr’19 contract for STEELLONG today open at INR 33,760/MT & last traded (IST 18:15) at INR 33,880/MT.
— BSE Sensex closed at 38,363(+268) on Tuesday, as against last day (Monday) at 38,095(+70).
— NSE Nifty50 index was closed today at 11,532(+70).
Raw Materials
— Indian Iron ore export volumes surge in March as Odisha based miners turn active for low grade exports. Export volumes expected to hit 0.73 MnT in Mar against 0.33 MnT in Feb – Vessel line up.
— NINL achieves highest ever hot metal production since inception; recorded at 0.73 MnT till 17th March.
— According to the latest assessment of Coking coal, spot prices of the Premium HCC are reported at around USD 213.25/MT FoB Australia & USD 225.15/MT CNF India.
— Local manufacturers in Raipur, Central India offered 60-14 Silico Manganese at around INR 66,500/MT ex-plant.
Semi Finished
— Private pig iron producers in eastern India have reduced their offers and reported steel grade at around INR 27,500-27,700/MT ex-plant, Durgapur.
— Raipur, Central India based Integrated plants offering Sponge P-DRI at INR 18,400-18,600/MT & Sponge DR CLO grade at INR 20,600-20,800/MT ex-plant.
— Odisha based medium size sponge manufacturers offered FeM 80 C-DRI (70:30 mix material) at INR 18,500-18,700/MT ex-plant & excluding GST.
— Raigarh based Singhal Steel offered P-DRI at INR 17,800/MT ex-Raigarh & Billet at INR 31,300/MT FoR Raipur, officials reported.
— South India based Amoda iron & steel ltd is offering FeM 75 C-DRI lump at INR 17,700/MT ex-plant (Hyderabad).
— Apple Industries in Bellary (Karnataka) offered Sponge FeM 83+ P-DRI lump at INR 19,700/MT & Billet at INR 32,400/MT ex-plant.
— BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 18,500/MT ex-Bellary, an official reported.
— BIOP Steels in South India has decreased sponge prices by INR 200/MT, offering FeM 80 & 82 C-DRI lumps at INR 19,200/MT & INR 19,600/MT ex-plant, Karnataka; an official reported.
Wire Rod & Pipe
— Mid sized mills in Raipur reduces wire rod prices by INR 300/MT to INR 37,700/MT (ex-plant) and trade discount reported by re-sellers at INR 1,000-1,200/MT. Meanwhile, Durgapur based manufacturers have maintained prices at around INR 36,500/MT ex-plant.
— Hyderabad (South India) based manufacturer Mahalakshmi Profiles Pvt. Ltd (MPL) has offered ERW Pipe at INR 39,000/MT ex-plant. (basic & excluding GST). Offers decline by INR 500/MT.
— Mandi Gobindgarh, North India based ERW pipe manufacturers offers reported at around INR 40,200/MT ex-plant & excluding GST.
— Raipur, Central India based ERW pipe manufacturers decreased prices by INR 200/MT & offers reported at around INR 36,800/MT ex-plant & excluding GST.
Rebar (12 mm)
— Raipur based – SPEED TMT has unaltered their offers at INR 35,700/MT.
— Gujarat based, Mono Steel (India) Ltd. (Mono TMT) is offering at INR 38,100/MT FoR.
— Jalna based SRJ Peety Steels Pvt Ltd (Shree Om TMT) is offering at INR 38,000/MT.
— Chennai based ARS Steel (ARS 500 D) has unchanged their offers at INR 40,400/MT.
Note – Prices mentioned above are ex-work, excluding GST & changes are placed on day basis.
Reference prices as on 19th March 2019
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 25,600 | 25,500 | 25,700 | – 100 | 25,500 | 25,800 |
| Ex-Mumbai | HMS(80:20) | 24,800 | 24,600 | 25,000 | – 200 | 25,200 | 25,300 | |
| Ex-Chennai | HMS(80:20) | 24,800 | 24,800 | 25,100 | 0 | 24,900 | 25,200 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 19,300 | 19,200 | 19,400 | + 50 | 19,000 | 20,500 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 18,600 | 18,500 | 18,700 | – 200 | 19,000 | 20,500 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 19,700 | 19,600 | 19,800 | 0 | 20,000 | 21,300 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,000 | 18,900 | 19,100 | 0 | 19,300 | 21,000 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 18,100 | 18,000 | 18,200 | + 50 | 17,800 | 19,300 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 18,400 | 18,300 | 18,500 | + 100 | 18,700 | 20,300 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 18,400 | 18,300 | 18,500 | 0 | 18,700 | 20,400 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 18,800 | 18,700 | 18,900 | – 100 | 19,300 | 20,900 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 33,800 | 33,700 | 33,900 | 0 | 34,150 | 35,300 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 31,300 | 31,200 | 31,400 | + 100 | 31,200 | 32,100 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 30,200 | 30,100 | 30,300 | – 100 | 30,700 | 32,000 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 30,900 | 30,800 | 31,000 | 0 | 31,300 | 32,400 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 33,000 | 32,900 | 33,100 | – 100 | 33,700 | 35,500 | |
| Billet | Ex-Mandi Gobindgarh | 100×100 mm, IS 2831 | 34,100 | 34,000 | 34,200 | 0 | 34,400 | 36,000 |
| Ex-Durgapur | 100×100 mm, IS 2831 | 31,600 | 31,500 | 31,700 | + 100 | 31,500 | 32,500 | |
| Ex-Rourkela | 100×100 mm, IS 2831 | 30,500 | 30,400 | 30,600 | 0 | 31,000 | 32,600 | |
| Ex-Raipur | 100×100 mm, IS 2831 | 31,400 | 31,300 | 31,500 | 0 | 31,600 | 33,300 | |
| Ex-Ahmedabad | 100×100 mm, IS 2831 | 33,700 | 33,600 | 33,800 | – 100 | 34,200 | 35,200 | |
| Ex-Mumbai | 100×100 mm, IS 2831 | 33,200 | 33,100 | 33,300 | – 100 | 33,900 | 35,750 | |
| Ex-Chennai | 100×100 mm, IS 2831 | 33,000 | 33,000 | 33,200 | 0 | 33,800 | 35,000 | |
| Ex-Hyderabad | 100×100 mm, IS 2831 | 32,500 | 32,400 | 32,600 | – 200 | 33,500 | 34,000 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 36,800 | 36,700 | 37,000 | – 100 | 37,600 | 38,500 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 36,000 | 35,800 | 36,200 | 0 | 36,300 | 37,300 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 35,500 | 35,400 | 35,700 | – 100 | 36,000 | 36,400 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 36,800 | 36,600 | 37,100 | – 100 | 37,600 | 38,700 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 38,000 | 37,800 | 38,200 | 0 | 38,500 | 39,100 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 36,000 | 35,800 | 36,200 | – 500 | 37,000 | 37,500 | |
| Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 36,500 | 36,300 | 36,700 | 0 | 36,500 | 37,500 |
| Ex-Raipur | Wire Rod(5.5 MM) | 37,700 | 36,500 | 37,700 | – 300 | 38,000 | 40,000 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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