Today, Indian Semi finished steel prices decline slightly over weak demand. The price fall seen in Sponge iron was of INR 100-200/MT & Billet by INR 200-500/MT.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 31,100-34,000/MT (USD 437-478) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 19,200-20,600/MT (USD 270-290); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 29th January 2019 (Tuesday) INR to USD exchange rate stood at INR 71.16.
— ICEX (Indian Commodity Exchange Ltd) Feb’19 contract for STEELLONG today open at INR 33,400/MT & last traded (IST 18:33) at INR 33,020/MT.
— BSE Sensex closed at 35,592(-64) on Tuesday, as against last day (Monday) at 35,656(-368).
— NSE Nifty50 index was closed today at 10,652(-9).
Raw Materials
— Odisha Mining Corporation has scheduled its next iron ore lump e-auction for 350,000 MT iron ore CLO and lump on 01 Feb’19, base prices decreased by INR 650/MT against the previous e-auction conducted on 03 Dec’18.
— Raipur based pellet makers have raised offers to INR 6,100/MT (ex-plant) against INR 6,000/MT (ex-plant).
— According to the latest assessment of Coking coal, spot prices of the Premium HCC are reported at around USD 200.5/MT FoB Australia & USD 210.8/MT CNF India.
— Imported scrap offers to India for HMS (80:20) Europe origin containers stood at around USD 305/MT, CFR Nhava Sheva.
— Karnataka High Court has postponed hearing again on NMDC Donimalai lease renewal pending the decision on the representation by the Karnataka Govt- Sources.
Semi Finished
— NINL extended domestic Pig iron price circular due date to 31st Jan’19 as against earlier bid validity of 29th Jan’19. The company’s offer for Steel (N1) grade hovering at INR 26,500-26,900/MT, N2 grade at INR 27,500/MT & Foundry (High silicon) grade at INR 28,000/MT; ex-Cuttack, East India.
— NINL has also extended the price circular validity for billets (150*150 mm, IS 2830) at INR 31,000/MT (ex-plant)
— Ludhiana, North India based trade participants reported steel & foundry grade pig iron offers at INR 29,500-29,600/MT & INR 31,300/MT on FoR basis & excluding 18% GST.
— Rashmi Metaliks in Durgapur has decreased sponge prices by around INR 100-200/MT and today offers for P-DRI heard at around INR 19,400-19,500/MT-Sources.
— Raipur, Central India based Integrated plants offers decreased by INR 100-200/MT, offering Sponge P-DRI at INR 18,800-18,900/MT & Sponge DR CLO grade at INR 21,200-21,400/MT ex-plant.
— Odisha based manufacturer, Ganesh Metaliks offered Billet at INR 31,200/MT ex-plant, an official reported.
— Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 19,400/MT & Billet at INR 31,200/MT ex-plant.
— East India, Odisha based manufacturer, Mahavir Ferro Alloys offered Billet at INR 31,200-31,300/MT ex-plant as per officials.
— Bellary, Karnataka based furnace owners offering billet at around INR 32,300/MT on ex-plant basis.
— BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 18,600-18,700/MT ex-Bellary, offers decline by INR 200/MT from the last trade; an official reported.
Wire Rod & Pipe
— Raipur based wire rod manufacturers reduced prices by INR 200/MT and trade discount through the manufacturers/suppliers is around INR 1,000-1,200/MT. The offers for 5.5 mm wire rod is hovering around INR 37,900/MT ex-Raipur & INR 36,600-36,900/MT ex-Durgapur.
— Mandi Gobindgarh, North India based ERW pipe manufacturers decreased prices by INR 200/MT & offers reported at around INR 40,200/MT ex-plant & excluding GST.
— Hyderabad (South India) based manufacturer Hari Om Pipe Industries Ltd has offered ERW Pipe at around INR 38,800-39,000/MT ex-plant. (basic & excluding GST).
Rebar (12mm)
— Rathi Steels based in North region unchanged their offering at INR 38,300/MT.
— Raipur based – SPEED TMT unchanged their offering at INR 35,200/MT.
— Jalna based SRJ Peety Steels Pvt Ltd (Shree Om) TMT unchanged their offering at INR 36,600/MT.
— Mumbai based Sun Metallics And Alloy Pvt. Ltd. (SUN TMT) unchanged their offering at INR 37,300/MT.
— Chennai based Sakthi Ferro Alloys India Pvt. Ltd. (SSI TMT) unchanged their offering at INR 37,000/MT.
— East region based – Shakambhari Ispat & Power Ltd. offered Wire Rod 5.5 mm at INR 36,800/MT.
— East region based – Baba Smelter Pvt. Ltd unchanged their offering Structure at INR 38,750/MT (150 Channel).
Note – Prices mentioned above are ex-work, excluding GST & changes are placed on day basis.
Reference prices as on 29th January 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 | 25,900 | 26,500 |
| Ex-Mumbai | HMS(80:20) | 25,200 | 25,100 | 25,300 | 0 | 24,900 | 25,500 | |
| Ex-Chennai | HMS(80:20) | 24,400 | 24,200 | 24,600 | 0 | 24,200 | 24,000 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 20,600 | 20,500 | 20,700 | – 100 | 20,200 | 21,200 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 19,300 | 19,200 | 19,400 | – 100 | 19,300 | 20,200 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 20,300 | 20,200 | 20,400 | – 200 | 20,200 | 21,200 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,300 | 19,200 | 19,400 | 0 | 19,000 | 19,900 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 19,400 | 19,300 | 19,500 | – 200 | 19,000 | 20,000 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 18,800 | 18,800 | 18,900 | – 200 | 18,700 | 19,600 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 18,700 | 18,600 | 18,800 | – 100 | 18,500 | 19,550 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 19,300 | 19,200 | 19,400 | – 100 | 19,400 | 20,300 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 33,600 | 33,500 | 33,700 | – 450 | 33,800 | 34,150 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 31,200 | 31,100 | 31,300 | – 200 | 30,900 | 31,700 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 30,300 | 30,200 | 30,300 | – 150 | 30,200 | 30,700 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 30,850 | 30,900 | 31,000 | – 150 | 30,800 | 30,900 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 33,700 | 33,600 | 33,700 | + 100 | 32,800 | 33,000 | |
| Billet | Ex-Mandi Gobindgarh | 100×100 mm, IS 2831 | 34,000 | 33,900 | 34,100 | – 500 | 34,200 | 34,450 |
| Ex-Durgapur | 100×100 mm, IS 2831 | 31,700 | 31,600 | 31,800 | – 100 | 31,400 | 32,000 | |
| Ex-Rourkela | 100×100 mm, IS 2831 | 31,100 | 31,000 | 31,200 | 0 | 30,650 | 31,000 | |
| Ex-Raipur | 100×100 mm, IS 2831 | 31,800 | 31,700 | 31,900 | – 200 | 31,700 | 31,950 | |
| Ex-Ahmedabad | 100×100 mm, IS 2831 | 33,000 | 32,900 | 33,100 | – 400 | 33,200 | 34,000 | |
| Ex-Mumbai | 100×100 mm, IS 2831 | 33,900 | 33,800 | 33,900 | + 100 | 33,000 | 33,200 | |
| Ex-Chennai | 100×100 mm, IS 2831 | 32,900 | 32,800 | 33,000 | + 200 | 32,500 | 33,200 | |
| Ex-Hyderabad | 100×100 mm, IS 2831 | 32,300 | 32,000 | 32,500 | + 300 | 32,000 | 33,000 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 37,200 | 37,100 | 37,400 | 0 | 37,100 | 37,900 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 36,500 | 36,300 | 36,700 | + 200 | 35,800 | 36,800 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 34,900 | 34,800 | 35,100 | – 100 | 34,700 | 35,400 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 37,000 | 36,700 | 37,200 | + 100 | 36,400 | 36,700 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 37,000 | 36,800 | 37,200 | + 200 | 36,600 | 37,400 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 36,500 | 36,300 | 36,700 | + 300 | 36,500 | 37,200 | |
| Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 36,700 | 36,500 | 36,900 | – 300 | 36,600 | 38,300 |
| Ex-Raipur | Wire Rod(5.5 MM) | 37,900 | 36,900 | 37,900 | – 200 | 37,600 | 38,600 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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