Indian steel prices marginally fluctuated by INR 100-400/MT today post a constant decline throughout a week’s duration.
As per SteelMint’s assessment the prices of Sponge & rebar have fluctuated by INR 100-300/MT, while billet offers rose by INR 100-400/MT D-o-D in major markets except southern region.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 31,700-35,200/MT (USD 452-502) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 19,400-20,300/MT (USD 276-290); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 8th March 2019 (Friday) INR to USD exchange rate stood at INR 70.10.
— ICEX (Indian Commodity Exchange Ltd) Apr’19 contract for STEELLONG today opened at INR 34,460/MT & last traded (IST 18:36) at INR 34,410/MT.
— BSE Sensex closed at 36,671(-53) on Friday, as against last day (Thursday) at 36,725(+89).
— NSE Nifty50 index was closed today at 11,035(-22).
Raw Materials
— MMTC, a leading international trading company in India and one of the major global players in minerals trade inviting tender for supply of 225,000 MT low-grade iron ore fines. The due date for submitting the offer is 14 Mar’19 at 15:00 Hrs.
— Southern India based pellet maker – KIOCL has concluded 50,000 MT pellet export deal consisting of Fe 64% content with less than 2% alumina at around USD 116.5/MT, FoB India – Sources.
— Spot pellet premium for Fe 65% grade pellets assessed at USD 35.45/DMT, CFR China this week, down by USD 6.65/DMT W-o-W against USD 42.1/DMT a week before.
— 81% material booked in OMC iron ore fines e-auction, bids remain close to base price. Vizag Steel booked around 150,000t fines from Daitari.
— NMDC iron ore sales up 37% from Karnataka mines for Feb’19 recorded at 1.3 MnT as against 0.95 MnT in Jan’19.
— JSW Steel’s iron ore purchases from Karnataka e-auctions increased by 36% to 1.98 MnT in Feb’19 compared to 1.45 MnT in Jan’19
— OMC chrome ore auction receives positive response; fetches bid higher by about 5% over base price.
— According to the latest assessment of Coking coal, spot prices of the Premium HCC are reported at around USD 214.25/MT FoB Australia & USD 227.2/MT CNF India.
Semi Finished
— Ludhiana, North India based trade participants reported steel & foundry grade pig iron offers at INR 30,500/MT & INR 34,300-34,500/MT on FoR basis & excluding 18% GST.
— Electro Steel based in Bokaro offered steel grade Pig iron at INR 27,700-27,800/MT ex-plant.
— In West Bengal – Durgapur, big manufacturers have increased sponge prices by INR 200/MT D-o-D; offering P-DRI at INR 18,300/MT.
— Raipur, Central India based Integrated plants offering Sponge P-DRI at INR 19,100-19,200/MT & Sponge DR CLO grade at INR 21,200-21,400/MT ex-plant.
— Odisha based medium size sponge manufacturers offered FeM 80 C-DRI (70:30 mix material) at INR 19,500-19,700/MT ex-plant & excluding GST.
— BIOP Steels in South India has decreased sponge prices by INR 100/MT, offering FeM 80 & 82 C-DRI lumps at INR 20,200/MT & INR 20,600/MT ex-plant, Karnataka; an official reported.
— Apple Industries in Bellary (Karnataka) offered Sponge FeM 83+ P-DRI lump at INR 20,800/MT & Billet at INR 33,900/MT ex-plant.
— South India (Telangana) based Cauvery Iron & Steel offers FeM 80 P-DRI & Billet at INR 20,000/MT & INR 34,000/MT. Also offering 12 mm Rebar at INR 37,500/MT. All prices are ex-plant & excluding GST.
Wire Rod & Pipe
— Raipur based wire rod manufacturers reduced offers by INR 300/MT and trade discount through the manufacturers/suppliers is around INR 800-1,100/MT. The offers for 5.5 mm wire rod is hovering at around INR 38,800/MT ex-Raipur & INR 37,000-37,300/MT ex-Durgapur.
— Raipur, Central India based ERW pipe manufacturers decreased prices by INR 500/MT & offers reported at around INR 37,700/MT ex-plant & excluding GST.
— Hyderabad (South India) based manufacturer Mahalakshmi Profiles Pvt. Ltd (MPL) has offered ERW Pipe at INR 40,300/MT ex-plant. (basic & excluding GST).
Rebar (12 mm)
— Rathi Steels based in North region current offering at INR 39,100/MT.
— North region based U.P – Gallant Ispat Ltd. current offering at INR 39,800/MT.
— Raipur based – SPEED TMT unchanged their offering at INR 36,500/MT.
— Jalna based SRJ Peety Steels Pvt Ltd (Shree Om) TMT unchanged their offering at INR 38,700/MT.
— Chennai based ARS Steel (ARS 500 D) unchanged their offering at INR 41,600/MT.
Note – Prices mentioned above are ex-work, excluding GST & changes are placed on day basis.
Reference prices as on 8th March 2019
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 25,800 | 25,700 | 25,900 | + 200 | 26,500 | 26,700 |
| Ex-Mumbai | HMS(80:20) | 25,200 | 25,100 | 25,400 | 0 | 25,400 | 25,500 | |
| Ex-Chennai | HMS(80:20) | 25,000 | 24,800 | 25,100 | – 200 | 25,500 | 24,800 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 19,400 | 19,300 | 19,500 | + 100 | 20,200 | 21,500 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 19,700 | 19,600 | 19,800 | – 100 | 20,400 | 20,400 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 20,300 | 20,200 | 20,400 | – 100 | 21,300 | 21,800 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 20,000 | 19,900 | 20,100 | – 200 | 20,400 | 20,400 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 18,300 | 18,200 | 18,400 | + 200 | 19,000 | 20,250 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 19,100 | 19,000 | 19,200 | + 200 | 20,000 | 20,600 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,600 | 19,500 | 19,700 | – 200 | 20,100 | 20,000 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 20,100 | 20,000 | 20,200 | – 300 | 20,600 | 20,500 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 34,800 | 34,700 | 34,900 | + 150 | 35,300 | 35,500 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 31,600 | 31,500 | 31,700 | + 200 | 32,100 | 32,600 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 31,200 | 31,100 | 31,300 | – 300 | 32,050 | 32,000 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 32,050 | 32,000 | 32,200 | + 150 | 32,950 | 32,850 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 34,500 | 34,400 | 34,600 | + 100 | 35,300 | 35,150 | |
| Billet | Ex-Mandi Gobindgarh | 100×100 mm, IS 2831 | 35,200 | 35,100 | 35,300 | + 200 | 35,600 | 35,900 |
| Ex-Durgapur | 100×100 mm, IS 2831 | 32,100 | 32,000 | 32,200 | + 200 | 32,600 | 33,200 | |
| Ex-Rourkela | 100×100 mm, IS 2831 | 31,700 | 31,600 | 31,800 | – 100 | 32,400 | 32,700 | |
| Ex-Raipur | 100×100 mm, IS 2831 | 32,300 | 32,200 | 32,300 | + 100 | 33,650 | 33,850 | |
| Ex-Ahmedabad | 100×100 mm, IS 2831 | 35,200 | 35,100 | 35,300 | + 450 | 35,850 | 34,750 | |
| Ex-Mumbai | 100×100 mm, IS 2831 | 34,700 | 34,600 | 34,800 | + 100 | 35,650 | 35,350 | |
| Ex-Chennai | 100×100 mm, IS 2831 | 34,200 | 34,000 | 34,200 | – 100 | 34,500 | 34,000 | |
| Ex-Hyderabad | 100×100 mm, IS 2831 | 33,700 | 33,500 | 34,000 | – 300 | 35,000 | 34,200 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 37,900 | 37,700 | 38,000 | 0 | 38,200 | 38,300 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 37,000 | 36,800 | 37,200 | + 200 | 37,300 | 37,500 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 36,400 | 36,200 | 36,500 | – 100 | 36,700 | 36,300 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 38,000 | 37,800 | 38,300 | 0 | 38,600 | 38,200 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 39,000 | 38,900 | 39,300 | + 200 | 38,700 | 37,800 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 37,300 | 37,000 | 37,500 | – 200 | 38,300 | 38,200 | |
| Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 37,100 | 36,800 | 37,300 | + 200 | 37,600 | 38,000 |
| Ex-Raipur | Wire Rod(5.5 MM) | 38,800 | 37,800 | 38,800 | – 300 | 40,000 | 40,000 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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