Indian spot trade inquiries was limited today owing to festive mood. However despite lessen trades, the producers have marginally reduces price by INR 100-200/MT in Sponge iron, Billet & Rebars.
As per industry sources, Semis prices less likely to fall sharply on assumptions of supportive demand.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 32,300-35,900/MT (USD 455-506) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 20,200-21,200/MT (USD 284-299); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 4th March 2019 (Monday) INR to USD exchange rate stood at INR 70.87.
— ICEX (Indian Commodity Exchange Ltd) Apr’19 contract for STEELLONG today open at INR 34,950/MT & last traded (IST 18:25) at INR 35,060/MT.
Raw Materials
— Indian iron ore import for the duration FY19 (Apr-Feb’19), have recorded at 12.07 MnT, up 69% compared to 7.14 MnT for same duration FY18 (Apr’17-Feb’18).
— Imported scrap offers to India for HMS 1&2 (80:20) Dubai origin containers stood at around USD 320/MT, CFR Nhava Sheva.
Semi Finished
— Vizag Steel (RINL) had cancelled tender for export of 8,127 MT (equivalent to 3 rakes) Billets to Nepal whose bid due date was till 26 Feb’19, as the producer was not looking to conclude it on less than of USD 440-445/MT ex-mill.
— Neo Metaliks in Durgapur (Eastern India) has kept pig iron prices unchanged & offered steel grade material at around INR 28,200/MT ex-plant.
— Industry sources are hopeful for further surge in Neelachal Ispat (NINL) pig iron prices in latest price circular. The company’s domestic prices are due since 28th Feb’19.
— Rashmi Metaliks in Durgapur, known as price trend setter, has offered Sponge P-DRI at INR 19,000/MT – Sources.
— Raipur, Central India based Integrated plants offers decreased by INR 200/MT, offering Sponge P-DRI at INR 19,700-19,900/MT & Sponge DR CLO grade at INR 22,100-22,300/MT ex-plant.
— Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 20,300/MT & Billet at INR 32,200/MT ex-plant.
— Hyderabad, South India based steel manufacturers kept offers unaltered, offering Billet, FeM 80 P-DRI & 28 MM Rebar at INR 35,000/MT, INR 21,000/MT & INR 38,500/MT. prices are ex-plant & excluding GST.
Wire Rod & Pipe
— Raipur (Central India) & Mandi Gobindgarh (North India) based pipe manufacturers kept offers at firm level, offering ERW pipe at around INR 38,700-38,800/MT & INR 41,500/MT; prices are ex-plant & excluding GST.
— Raipur based wire rod manufacturers offers unchanged and trade discount through the manufacturers/suppliers is around INR 1,000-1,100/MT. The offers for 5.5 mm wire rod is hovering at around INR 40,000/MT ex-Raipur & INR 38,000/MT ex-Durgapur.
— Hyderabad (South India) based manufacturer Mahalakshmi Profiles Pvt. Ltd (MPL) has offered ERW Pipe at INR 40,600/MT ex-plant. (basic & excluding GST).
Rebar (12mm)
— Raipur based – SPEED TMT unchanged their offering at INR 36,900/MT.
— Gujarat based Shreeyam Power & Steel Industries Ltd. (National TMT) unchanged their offering at INR 40,000/MT FoR.
— Jalna based SRJ Peety Steels Pvt Ltd (Shree Om) TMT offering at INR 39,500/MT (Down by INR 100/MT).
— Jalna based Kalika Steel Alloys Pvt Ltd current offering at INR 39,400/MT.
— Chennai based Shakti Ferro Alloys, (SSI TMT) unchanged their offering at INR 39,000/MT.
Note – Prices mentioned above are ex-work, excluding GST & changes are placed on day basis.
Reference prices as on 4th March 2019
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 26,300 | 26,200 | 26,400 | – 200 | 26,000 | 26,200 |
| Ex-Mumbai | HMS(80:20) | 25,400 | 25,300 | 25,500 | 0 | 24,900 | 25,300 | |
| Ex-Chennai | HMS(80:20) | 25,700 | 25,500 | 25,900 | 0 | 25,000 | 24,500 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 20,200 | 20,100 | 20,300 | – 100 | 19,500 | 20,700 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 20,300 | 20,200 | 20,400 | – 100 | 20,000 | 19,600 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 21,200 | 21,100 | 21,300 | – 100 | 21,000 | 20,500 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 19,000 | 18,900 | 19,100 | – 100 | 18,300 | 19,500 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 19,800 | 19,700 | 19,900 | – 200 | 19,800 | 19,400 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 21,000 | 20,900 | 21,100 | + 100 | 20,600 | 19,500 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 35,200 | 35,100 | 35,300 | 0 | 34,200 | 34,300 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 32,200 | 32,100 | 32,300 | 0 | 31,000 | 31,800 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 31,900 | 31,800 | 32,000 | – 100 | 31,000 | 30,800 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 32,700 | 32,600 | 32,800 | – 200 | 31,800 | 31,300 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 35,500 | 35,400 | 35,600 | + 200 | 34,600 | 34,000 | |
| Billet | Ex-Mandi Gobindgarh | 100×100 mm, IS 2831 | 35,600 | 35,500 | 35,700 | 0 | 34,600 | 34,700 |
| Ex-Durgapur | 100×100 mm, IS 2831 | 32,700 | 32,600 | 32,800 | 0 | 31,400 | 32,300 | |
| Ex-Rourkela | 100×100 mm, IS 2831 | 32,300 | 32,200 | 32,400 | – 100 | 31,600 | 31,400 | |
| Ex-Raipur | 100×100 mm, IS 2831 | 33,400 | 33,300 | 33,500 | – 100 | 32,700 | 32,400 | |
| Ex-Ahmedabad | 100×100 mm, IS 2831 | 35,900 | 35,800 | 36,000 | – 100 | 35,300 | 34,100 | |
| Ex-Mumbai | 100×100 mm, IS 2831 | 35,750 | 35,700 | 35,800 | + 100 | 34,800 | 34,200 | |
| Ex-Chennai | 100×100 mm, IS 2831 | 34,700 | 34,500 | 34,900 | 0 | 34,300 | 32,800 | |
| Ex-Hyderabad | 100×100 mm, IS 2831 | 35,000 | 34,900 | 35,100 | 0 | 34,000 | 32,500 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 38,600 | 38,400 | 38,800 | 0 | 37,600 | 37,400 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 37,500 | 37,300 | 37,700 | + 100 | 36,100 | 36,600 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 36,700 | 36,500 | 36,900 | 0 | 35,900 | 35,100 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 38,600 | 38,400 | 39,000 | 0 | 38,300 | 37,200 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 39,000 | 38,800 | 39,200 | + 200 | 38,600 | 36,900 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 38,500 | 38,300 | 38,700 | 0 | 37,500 | 36,500 | |
| Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 38,000 | 37,700 | 38,200 | + 100 | 36,400 | 37,100 |
| Ex-Raipur | Wire Rod(5.5 MM) | 40,000 | 39,100 | 40,000 | 0 | 39,700 | 38,000 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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