Indian Steel prices slightly rise today through the mid size mills following improved inquiries from domestic buyers. The prices rise by INR 100-400/MT, day-on-day.
As per trade participants, spot deals healthier in Central & Western India, while slight improvement being noticed in Eastern region.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 30,200-34,000/MT (USD 428-483) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 19,200-20,000/MT (USD 272-284); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 9th January 2019 (Wednesday) INR to USD exchange rate stood at INR 70.42.
— ICEX (Indian Commodity Exchange Ltd) Feb’19 contract for STEELLONG today open at INR 32,680/MT & last traded (IST 18:32) at INR 33,030/MT.
— BSE Sensex closed at 36,212(+231) on Wednesday, as against last day (Tuesday) at 35,980(+130).
— NSE Nifty50 index was closed today at 10,855(+53).
Raw Materials
— IDCOL has issued tender for sale of around 11,400 MT iron ore from its Roida ‘C’ iron and manganese mines, Keonjhar (Odisha). The due date for bid submission is 11 Jan’19.
— Tata Steel- one of the India’s major steel maker has registered growth of 2% Q-o-Q basis in its standalone crude steel output to 3.33 MnT in Q3 FY19 as compared to 3.26 MnT in Q2 FY19.
— Indian metallurgical coal imports have surged by 32.28% to 5.71 MnT in Dec’18, as compared to 4.32 MnT in Nov’18, as per the vessel lineup data compiled by CoalMint Research.
— According to the latest assessment of Coking coal, spot prices of the Premium HCC are reported at around USD 201/MT FoB Australia & USD 213.7/MT CNF India.
— Local manufacturers in Raigarh offered 60-14 Silico Manganese at around INR 67,500/MT ex-plant.
Semi Finished
— Tata Metaliks, India’s one of the major foundry grade pig iron manufacturer has rolled over its prices for Jan’19 deliveries. The offers for foundry pig iron reported at INR 33,100/MT (USD 473) ex-plant, Kharagpur, East India.
— The latest price assessment for Steel grade Pig iron stood at INR 28,200-28,400/MT ex-Raipur (Central India) & INR 28,000-28,200/MT ex-Durgapur (East region).
— As per sponge producers in Raipur, Central India, good demand today at the offer price of P-DRI at INR 18,400-18,600/MT, which was quite dull yesterday (8th Jan).
— Raigarh based Singhal Steel offered P-DRI at INR 18,000/MT ex-Raigarh, an official reported. Also, the company offered Billets at INR 31,000-31,100/MT FoR Raipur.
— Odisha based medium size sponge manufacturers offered FeM 80 C-DRI (70:30 mix material) at INR 19,200-19,300/MT ex-plant & excluding GST.
— South India (Telangana) based Cauvery Iron & Steel offers FeM 80 P-DRI & Billet at INR 19,500/MT & INR 32,000/MT. Also offering 12 mm Rebar at INR 36,500/MT. All prices are ex-plant & excluding GST.
— BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 18,800/MT ex-Bellary, offers decline by INR 200/MT from the last trade; an official reported.
— Bellary, Karnataka based furnace owners offering billet at around INR 31,700-31,800/MT on ex-plant basis.
— BIOP Steels in South India has decreased sponge prices by INR 100/MT, offering FeM 80 & 82 C-DRI lumps at INR 19,600/MT & INR 20,000/MT ex-plant, Karnataka; an official reported.
Finished Long
— Tata Steel’s standalone steel sales moved down by 7% Q-o-Q to 2.97 MnT in Q3 FY19 against 3.18 MnT in Q2 FY19.
— Raipur based wire rod manufacturers offers unaltered and trade discount through the manufacturers/suppliers is around INR 900-1,200/MT. The offers for 5.5mm wire rod is hovering around INR 37,700/MT ex-Raipur & INR 36,700/MT ex-Durgapur.
— Rashmi Metaliks wire rod offers increased by INR 100/MT and reported at INR 36,500/MT (5.5 mm), ex-Kharagpur, east India.
— Mandi Gobindgarh, North India based ERW pipe manufacturers reduced prices by INR 200/MT & offers reported at around INR 39,600/MT ex-plant & excluding GST.
— Hyderabad (South India) based manufacturer Mahalakshmi Profiles Pvt. Ltd (MPL) has offered ERW Pipe at INR 39,000/MT ex-plant. (basic & excluding GST).
Reference prices as on 9th January 2019
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 25,400 | 25,300 | 25,500 | + 100 | 26,100 | 26,200 |
| Ex-Mumbai | HMS(80:20) | 25,000 | 24,800 | 25,000 | 0 | 25,500 | 26,000 | |
| Ex-Chennai | HMS(80:20) | 24,100 | 24,000 | 24,300 | – 200 | 24,200 | 24,900 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 19,900 | 19,800 | 20,000 | – 100 | 20,900 | 20,250 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 19,200 | 19,100 | 19,300 | 0 | 20,000 | 20,400 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 20,000 | 19,900 | 20,100 | 0 | 21,100 | 21,600 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,300 | 19,200 | 19,400 | – 100 | 19,800 | 20,500 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 18,800 | 18,700 | 18,900 | – 100 | 19,700 | 19,250 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 18,450 | 18,400 | 18,500 | – 50 | 19,500 | 20,000 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 18,800 | 18,700 | 18,900 | – 100 | 19,500 | 20,000 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 19,600 | 19,500 | 19,600 | 0 | 20,200 | 20,700 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 33,650 | 33,600 | 33,700 | + 300 | 33,800 | 33,700 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 30,350 | 30,300 | 30,400 | + 150 | 31,300 | 30,300 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 29,750 | 29,700 | 29,800 | + 150 | 30,300 | 29,900 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 30,200 | 30,100 | 30,300 | + 200 | 30,700 | 30,000 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 32,800 | 32,800 | 32,900 | + 400 | 32,600 | 32,400 | |
| Billet | Ex-Mandi Gobindgarh | 100×100 mm, IS 2831 | 33,950 | 33,900 | 34,000 | + 300 | 34,100 | 34,000 |
| Ex-Durgapur | 100×100 mm, IS 2831 | 30,800 | 30,700 | 30,900 | + 200 | 31,600 | 30,800 | |
| Ex-Rourkela | 100×100 mm, IS 2831 | 30,200 | 30,100 | 30,200 | + 200 | 30,700 | 30,250 | |
| Ex-Raipur | 100×100 mm, IS 2831 | 31,100 | 31,000 | 31,200 | + 300 | 31,600 | 30,750 | |
| Ex-Ahmedabad | 100×100 mm, IS 2831 | 33,200 | 33,100 | 33,300 | + 300 | 33,700 | 33,100 | |
| Ex-Mumbai | 100×100 mm, IS 2831 | 33,000 | 33,000 | 33,100 | + 400 | 32,800 | 32,600 | |
| Ex-Chennai | 100×100 mm, IS 2831 | 32,800 | 32,800 | 33,000 | – 200 | 33,300 | 33,500 | |
| Ex-Hyderabad | 100×100 mm, IS 2831 | 32,000 | 31,900 | 32,100 | 0 | 33,000 | 32,300 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 36,700 | 36,600 | 36,900 | 0 | 37,600 | 37,200 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 35,500 | 35,300 | 35,800 | 0 | 36,500 | 36,300 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 34,600 | 34,500 | 34,700 | 0 | 35,300 | 34,900 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 36,100 | 35,900 | 36,300 | + 200 | 36,200 | 35,900 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 37,000 | 36,800 | 37,200 | 0 | 37,400 | 37,700 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 36,500 | 36,300 | 36,700 | 0 | 37,500 | 36,700 | |
| Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 36,700 | 36,500 | 36,900 | + 100 | 38,100 | 37,200 |
| Ex-Raipur | Wire Rod(5.5 MM) | 37,700 | 36,500 | 37,700 | – 200 | 38,600 | 38,300 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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