Indian Iron & Steel market remain supported on better demand as Billet & Sponge market registered price fluctuations of INR 100-300/MT on day trade activities.
As per Industry sources, buyers are taking interest following strengthening prices.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 30,800-35,200/MT (USD 436-499) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 20,700-22,000/MT (USD 293-312); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 5th December 2018 (Wednesday) INR to USD exchange rate stood at INR 70.56.
— ICEX (Indian Commodity Exchange Ltd) Dec’18 contract for STEELLONG today open at INR 34,100/MT & last traded (IST 18:18) at INR 34,100/MT.
— BSE Sensex closed at 35,884(-249) on Wednesday, as against last day (Tuesday) at 36,134(-106).
— NSE Nifty50 index was closed today at 10,782(-86).
Raw Materials
— Chhattisgarh based units reduce iron ore sourcing from NMDC by 62% in Nov as mills preferred pellets over iron ore due to price difference.
— According to the latest assessment of Coking coal, spot prices of the Premium HCC are reported at around USD 229/MT FoB Australia & USD 242.3/MT CNF India.
— South African RB2 (5500 NAR) coal offers are assessed at USD 60/MT on FoB basis & USD 74/MT CNF India. Prices decline by USD 3-4/MT on weekly basis.
— Singhal Steel, Raigarh (Central India) based manufacturer has offered 60-14 Silico Manganese at around INR 67,800/MT ex-plant
Semi Finished
— Tata Metaliks has reduced Foundry grade Pig iron prices by INR 700/MT to INR 33,100/MT ex-plant, Kharagpur, East India.
— Electro Steels based in Bokaro, Jharkhand has rolled over Steel grade Pig iron prices at INR 29,000/MT ex-plant.
— Raipur, Central India based Integrated plants offering Sponge P-DRI at INR 20,400-20,500/MT & Sponge DR CLO grade at INR 22,900-23,100/MT ex-plant.
— Aloke Steel Industries (Jharkhand) offered Fem 78-80 C-DRI lumps at INR 21,400/MT & Sponge mix material (60:40) at INR 21,600/MT ex-plant.
— Rashmi Metaliks in Durgapur has slightly reduced sponge prices & reported P-DRI at around INR 20,700/MT.
— Raigarh based Singhal Steel offered P-DRI at INR 19,600/MT ex-Raigarh, an official reported. Also, the company offered Billets at INR 31,600/MT FoR Raipur.
— Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 20,600-20,700/MT & Billet at INR 30,600/MT ex-plant.
— BIOP Steels in South India has offered FeM 80 & 82 C-DRI lumps at INR 20,700/MT & 21,100/MT ex-plant, Karnataka; an official reported.
— Apple Industries in Bellary (Karnataka) offered Sponge FeM 83+ P-DRI lump at INR 21,500/MT & Billet at INR 33,000/MT ex-plant.
Finished Long
— Raipur based wire rod manufacturers kept offers unchanged and trade discount through the manufacturers/suppliers unaltered at around INR 700-1,000/MT. The offers for 5.5 mm wire rod is hovering around INR 38,600/MT ex-Raipur & INR 38,000-38,300/MT ex-Durgapur.
— Rashmi Metaliks offers unchanged for Wire rod and reported at INR 38,000/MT (5.5 mm), ex-Kharagpur.
— Hyderabad (South India) based manufacturer Mahalakshmi Profiles Pvt. Ltd (MPL) has kept offers unaltered for ERW Pipe at INR 40,500/MT ex-plant. (basic & excluding GST).
Reference prices as on 5th December 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 26,900 | 26,700 | 27,000 | + 200 | 26,200 | 27,100 |
| Ex-Mumbai | HMS(80:20) | 26,000 | 25,900 | 26,100 | + 100 | 25,500 | 25,700 | |
| Ex-Chennai | HMS(80:20) | 24,900 | 24,800 | 25,000 | – 100 | 25,800 | NA | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 21,600 | 21,500 | 21,700 | – 200 | 21,300 | 23,400 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 20,700 | 20,600 | 20,700 | – 300 | 20,600 | 22,200 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 22,000 | 21,900 | 22,100 | + 100 | 21,500 | 22,900 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 20,700 | 20,600 | 20,800 | + 100 | 20,400 | 21,600 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 20,600 | 20,500 | 20,700 | – 200 | 20,300 | 22,300 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 20,450 | 20,400 | 20,500 | + 50 | 20,100 | 21,100 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 20,100 | 20,000 | 20,200 | + 100 | 19,900 | 20,800 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 20,500 | 20,400 | 20,500 | 0 | 20,300 | 21,700 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 34,800 | 34,800 | 34,900 | – 100 | 33,600 | 36,300 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 31,600 | 31,500 | 31,700 | + 100 | 31,000 | 33,800 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 30,600 | 30,500 | 30,700 | – 100 | 30,000 | 32,800 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 31,100 | 31,000 | 31,200 | 0 | 30,500 | 33,100 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 33,300 | 33,200 | 33,300 | 0 | 32,500 | 33,800 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 35,200 | 35,200 | 35,300 | – 100 | 34,100 | 37,100 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 32,000 | 31,900 | 32,100 | + 100 | 31,350 | 34,000 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 30,800 | 30,700 | 30,900 | – 200 | 30,500 | 33,200 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 31,700 | 31,600 | 31,800 | + 100 | 30,800 | 33,700 | |
| Ex-Ahmedabad | 125×125 mm, IS 2831 | 33,800 | 33,700 | 33,800 | 0 | 32,800 | 34,600 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 33,500 | 33,400 | 33,500 | 0 | 32,700 | 34,100 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 33,500 | 33,400 | 33,600 | 0 | 34,000 | 35,000 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 32,500 | 32,400 | 32,600 | + 200 | 32,500 | 34,500 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 37,600 | 37,400 | 37,800 | – 100 | 36,700 | 39,100 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 37,100 | 36,900 | 37,300 | – 200 | 36,700 | 39,500 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 35,200 | 35,100 | 35,400 | – 100 | 34,700 | 36,400 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 36,600 | 36,400 | 36,800 | + 200 | 36,300 | 37,600 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 37,900 | 37,800 | 38,100 | – 100 | 38,500 | NA | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 37,200 | 37,000 | 37,400 | + 200 | 37,000 | 38,500 | |
| Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 38,100 | 37,800 | 38,300 | – 200 | 37,400 | 39,900 |
| Ex-Raipur | Wire Rod(5.5 MM) | 38,600 | 37,900 | 38,600 | 0 | 38,600 | 40,200 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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