Indian spot steel trades was limited today owing to holiday mood in the major markets. As per assessment, the prices of Billet & Sponge iron have slightly gain by INR 100-200/MT, day-on-day.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 33,000-36,900/MT (USD 452-505) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 21,300-23,100/MT (USD 291-316); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 5th November 2018 (Monday) INR to USD exchange rate stood at INR 73.08.
— BSE Sensex closed at 34,950(-60) on Monday, as against last day (Friday) at 35,011(+579).
— NSE Nifty50 index was closed today at 10,528(-24).
Raw Materials
— SAIL’s crude steel production inch down by 6% to 3.70 MnT in Q2FY19 in comparison to 3.94 MnT in Q1FY19.
— According to the vessel line up data maintained with SteelMint, Indian pellet exports for the month of Oct’18 witnessed a decline of 22% M-o-M to 0.74 MnT, as against 0.95 MnT in Sept’18.
— According to the latest assessment of Coking coal, spot prices of the Premium HCC are reported at around USD 217.5/MT FoB Australia & USD 232.8/MT CNF India.
— Imported scrap offers to India for HMS 1&2 (80:20) Dubai origin containers stood at around USD 330/MT, CFR Nhava Sheva
Semi Finished
— Indian sponge iron export offers have slightly gain over jump in Indian currency against US dollar and better demand. The latest price assessment stood at USD 360-365/MT CFR Chittagong, Bangladesh.
— RINL has invited a tender for export of 30,000 MT Blooms. And the due date for bid submission is 08 Nov’18 (till 3 pm IST).
— Private pig iron producers in Durgapur are trading steel grade material at INR 29,300-29,500/MT ex-plant. Similar offers being heard from Jharkhand based producers on FoR Durgapur basis.
— Rashmi Metaliks in Durgapur has slightly raised sponge prices & reported P-DRI at around INR 22,200/MT.
— Raipur based Integrated plants have didn’t open the prices today, however mid size plant offers stood at INR 21,000-21,200/MT ex plant. The smelters in Raipur being procured Odisha C-DRI at around INR 23,000/MT FoR & excluding GST.
— Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 22,000/MT & Billet at INR 33,000/MT ex-plant
— Power supply have resumed ful-fledged by DVC in Durgapur and surrounding industrial. Hence, sponge iron demand boost through the EA or Induction furnaces, this led to price rise.
Rebar (12 mm)
— Rathi Steels based in North region unchanged their offering at INR 40,100/MT.
— Raipur based – SPEED TMT unchanged their offering at INR 36,400/MT.
— GK TMT based in Raipur today’s offering at INR 39,300/MT (GST extra, discount upto INR 800/MT).
— Jalna based SRJ Peety Steels Pvt Ltd (Shree Om) TMT unchanged their offering at INR 36,900/MT
— South region based – VRKP Steel Industry Pvt Ltd – VRKP tmt unchanged their offering at INR 39,500/MT.
— Chennai based ARS Steel (Trusteel) unchanged their offering INR 42,100/MT.
Note – The prices mentioned above based on ex-work, excluding GST and changes are placed on day basis.
Reference prices as on 5th November 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 26,900 | 26,800 | 27,000 | 0 | 26,500 | 27,600 |
| Ex-Mumbai | HMS(80:20) | 25,500 | 25,300 | 25,600 | 0 | 25,400 | 26,300 | |
| Ex-Chennai | HMS(80:20) | 26,800 | 26,600 | 27,000 | 0 | 26,500 | 26,600 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 23,300 | 23,200 | 23,400 | + 300 | 22,900 | 22,600 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 22,000 | 22,000 | 22,100 | 0 | 22,000 | 22,800 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 22,800 | 22,700 | 22,900 | + 100 | 22,800 | 24,000 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 21,500 | 21,400 | 21,600 | + 200 | 21,600 | 22,600 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 22,200 | 22,100 | 22,300 | + 200 | 21,600 | 21,000 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 21,100 | 21,000 | 21,200 | 0 | 21,300 | 22,700 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 20,800 | 20,700 | 20,900 | + 300 | 20,700 | 22,000 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 21,700 | 21,600 | 21,700 | + 100 | 21,600 | 22,600 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 36,100 | 36,000 | 36,200 | + 200 | 36,100 | 36,900 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 33,700 | 33,600 | 33,800 | + 200 | 33,900 | 33,900 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 32,600 | 32,500 | 32,700 | + 50 | 32,800 | 33,100 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 33,000 | 32,900 | 33,100 | + 200 | 32,900 | 33,600 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 33,600 | 33,500 | 33,700 | + 200 | 33,200 | 34,600 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 34,500 | 34,400 | 34,600 | 0 | 35,000 | 35,500 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 33,700 | 33,600 | 33,800 | 0 | 33,700 | 36,000 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 36,900 | 36,800 | 37,000 | + 200 | 36,900 | 37,800 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 33,900 | 33,800 | 34,000 | + 100 | 34,200 | 34,500 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 33,000 | 32,900 | 33,100 | 0 | 33,300 | 33,600 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 33,600 | 33,500 | 33,700 | + 100 | 33,800 | 34,500 | |
| Ex-Ahmedabad | 125×125 mm, IS 2831 | 34,600 | 34,500 | 34,700 | + 100 | 34,100 | 35,500 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 33,800 | 33,700 | 33,900 | + 200 | 33,400 | 34,800 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 35,000 | 34,900 | 35,100 | 0 | 35,500 | 36,000 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 34,000 | 33,900 | 34,100 | 0 | 34,000 | 36,300 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 38,900 | 38,700 | 39,100 | 0 | 39,400 | 39,000 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 39,500 | 39,300 | 39,700 | + 200 | 39,300 | 38,800 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 36,400 | 36,200 | 36,500 | 0 | 36,600 | 37,900 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 37,200 | 36,900 | 37,400 | + 200 | 37,000 | 38,900 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 39,800 | 39,600 | 40,100 | 0 | 40,500 | 41,400 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 38,000 | 37,800 | 38,200 | 0 | 38,100 | 39,700 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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