Indian spot steel trade activities remain limited as prices moved down due to festive mood in the country.
As per daily assessment, the Sponge & Billet prices down by INR 100-200/MT. Meanwhile Rebar prices fell by INR 100-300/MT, day on day, in major markets.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 30,400-34,400/MT (USD 438-496) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 18,500-19,400/MT (USD 266-280); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 5th June 2019 (Wednesday) INR to USD exchange rate stood at INR 69.28.
— ICEX (Indian Commodity Exchange Ltd) Jul’19 contract for STEELLONG today open at INR 33,540/MT & last traded (IST 18:25) at INR 33,410/MT.
Raw Materials
— Eastern India based pellet maker has concluded an export deal for around 50,000 MT for regular grade pellets (Fe 64%, containing 3% alumina) for June loading at around USD 123-124/MT, CFR China.
— Domestic price for Ferro Chrome in India is assessed to at around INR 66,000/MT Ex-Jajpur.
— South African RB2 (5500 NAR) coal offers are assessed at USD 50.37/MT on FoB basis & USD 63.37/MT CNF India.
Semi Finished
— Ludhiana, North India based trade participants reported steel & foundry grade pig iron offers at INR 30,100/MT & INR 33,100/MT on FoR basis & excluding 18% GST.
— Rashmi Metaliks in Durgapur has reduced sponge P-DRI prices by INR 100/MT to INR 18,400/MT, as reported by sources.
— Raipur, Central India based Integrated plants offers decreased by INR 100-200/MT, offering Sponge P-DRI at INR 18,000-18,200/MT & Sponge DR CLO grade at INR 20,100-20,300/MT ex-plant.
— Raigarh based Singhal Steel offered P-DRI at INR 17,600-17,700/MT & Billet at INR 30,500/MT ex-Raigarh, officials reported.
— Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 18,700/MT & Billet at INR 30,400-30,500/MT ex-plant.
— Sources reported Chandrapur (Maharashtra) based manufacturers offered Sponge C-DRI (70:30) & P-DRI (FeM 80) at INR 19,800/MT & INR 18,100-18,200/MT, ex-plant & excluding GST.
Wire Rod & Pipe
— Mandi Gobindgarh, North India based ERW pipe manufacturers offers reported at around INR 40,000/MT ex-plant & excluding GST.
— Hyderabad (South India) based manufacturer Mahalakshmi Profiles Pvt. Ltd (MPL) has offered ERW Pipe at INR 40,100/MT ex-plant. (basic & excluding GST). Offers unaltered on day-on-day basis.
— Trade discounts in Raipur Wire rod slightly reduced to INR 1,300-1,500/MT as base prices reduced by INR 300/MT to INR 37,200/MT ex-plant.
Rebar (12 mm)
— Raipur based – SPEED TMT is offering at INR 35,000/MT (down by INR 300/MT).
— Real Ispat (GK TMT) is offering at INR 37,500/MT (down by INR 300/MT).
— Raigarh based Anjani Steels Ltd. (Radhe TMT) is offering at INR 35,600/MT.
— Gujarat based Shreeyam Power & Steel Industries Ltd. (National TMT) is offering at INR 36,700/MT FoR.
— Jalna based Bhagyalaxmi Rolling Mill Pvt Ltd (Polaad TMT) has unchanged their offers at INR 35,900/MT.
— Jalna based Kalika Steels Alloys Pvt. Ltd. (Kalika TMT) is offering at INR 36,100/MT.
— Jalna based Rajuri Steel Pvt. Ltd. (Rajuri) TMT is offering at INR 35,800/MT (down by INR 300/MT).
— Goa based Kamdhenu TMT is offering at INR 37,850/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 5th June 2019
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 25,700 | 25,600 | 25,800 | 0 | 25,700 | 25,600 |
| Ex-Mumbai | HMS(80:20) | 24,900 | 24,800 | 25,000 | + 100 | 24,700 | 25,200 | |
| Ex-Chennai | HMS(80:20) | 23,400 | 23,300 | 23,500 | 0 | 23,700 | 23,800 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 19,400 | 19,300 | 19,500 | – 100 | 19,600 | 18,900 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 18,500 | 18,400 | 18,500 | – 150 | 18,800 | 18,800 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 19,300 | 19,200 | 19,400 | – 200 | 19,700 | 19,800 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,000 | 18,900 | 19,000 | 0 | 19,000 | 19,200 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 18,400 | 18,300 | 18,500 | – 100 | 18,500 | 17,600 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 18,100 | 18,000 | 18,100 | – 100 | 18,650 | 18,600 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 18,600 | 18,500 | 18,700 | 0 | 18,750 | 18,800 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 19,100 | 19,000 | 19,200 | – 100 | 19,300 | 19,300 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 34,000 | 33,900 | 34,100 | – 200 | 34,050 | 34,100 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 31,000 | 30,900 | 31,100 | – 100 | 31,300 | 31,200 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 30,000 | 30,000 | 30,100 | – 150 | 30,200 | 30,400 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 30,300 | 30,200 | 30,500 | – 200 | 30,750 | 30,700 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 31,650 | 31,600 | 31,700 | + 150 | 32,000 | 32,800 | |
| Billet | Ex-Mandi Gobindgarh | 100×100 mm, IS 2831 | 34,400 | 34,300 | 34,500 | – 200 | 34,500 | 34,500 |
| Ex-Durgapur | 100×100 mm, IS 2831 | 31,400 | 31,300 | 31,500 | 0 | 31,700 | 31,500 | |
| Ex-Rourkela | 100×100 mm, IS 2831 | 30,500 | 30,400 | 30,500 | – 100 | 30,800 | 30,800 | |
| Ex-Raipur | 100×100 mm, IS 2831 | 31,000 | 30,900 | 31,100 | – 100 | 31,400 | 31,350 | |
| Ex-Ahmedabad | 100×100 mm, IS 2831 | 32,700 | 32,600 | 32,800 | 0 | 32,500 | 32,250 | |
| Ex-Mumbai | 100×100 mm, IS 2831 | 31,900 | 31,800 | 32,000 | + 200 | 32,200 | 33,050 | |
| Ex-Chennai | 100×100 mm, IS 2831 | 31,500 | 31,500 | 31,700 | – 100 | 32,000 | 31,900 | |
| Ex-Hyderabad | 100×100 mm, IS 2831 | 31,500 | 31,400 | 31,600 | 0 | 31,500 | 32,000 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 37,400 | 37,400 | 37,700 | 0 | 37,400 | 37,500 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 36,300 | 36,100 | 36,500 | 0 | 36,800 | 36,600 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 34,900 | 34,800 | 35,000 | – 200 | 35,200 | 35,300 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 34,800 | 34,700 | 35,000 | 0 | 35,100 | 36,400 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 36,400 | 36,300 | 36,600 | – 100 | 36,700 | 37,100 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 35,500 | 35,300 | 35,700 | 0 | 35,500 | 35,700 | |
| Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 36,500 | 36,300 | 36,700 | 0 | 37,100 | 37,200 |
| Ex-Raipur | Wire Rod(5.5 MM) | 36,300 | 35,700 | 37,200 | – 400 | 36,700 | 37,700 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
Leave a Reply