Indian Billet prices marginally fluctuates by INR 100-300/MT today as spot trades was not up to the mark, as per mid sized mills. The prices in Central region fell by INR 100-200/MT, while in remaining markets it gain by INR 100-300/MT except in western India.
Sources assuming that, prices should find stability as the current offers are acceptable among market participants and further surge in prices may result slow-down demand in spot market.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 31,200-34,900/MT (USD 450-504) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 18,800-20,300/MT (USD 271-294); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 5th April 2019 (Friday) INR to USD exchange rate stood at INR 69.24.
— ICEX (Indian Commodity Exchange Ltd) May’19 contract for STEELLONG today open at INR 34,240/MT & last traded (IST 18:33) at INR 34,350/MT.
— BSE Sensex closed at 38,862(+177) on Friday, as against last day (Thursday) at 38,684(-192).
— NSE Nifty50 index was closed today at 11,665(+67).
Raw Materials
— SteelMint’s index for Odisha merchant miners for fines (Fe 63%) have come down to around INR -1,900-2,000/MT and 5-18 lumps at INR 4,000-4,100/MT (ex-mines, including Royalty, DMF & NMET).
— Imported scrap offers to India for HMS (80:20) Europe origin containers stood at around USD 315/MT, CFR Nhava Sheva.
— Indian mill scale exports in FY19 recorded at 98,000 MT. Exports witnessed sharp drop of 52% against 207,400 MT in FY’18.
— Latest offers for the Premium HCC grade are assessed at around USD 210.8/MT & offers for the 64 Mid Vol HCC grade are at USD 186.20/MT respectively on CNF India basis.
Semi Finished
— Rashtriya Ispat Nigam Limited (RINL) have concluded the tender for the lots comprising of size 77*77 and 65*65 mm (grade IS 2830 Gr A) at around USD 455-458/MT, FoB. Each billet lot offered was of 10,000 MT.
— RINL has invited tender for export of 10,836 MT Billets to Nepal. Interested bidders can submit their bids till 12 Apr’19 at 11:00 hrs.
— Eastern India’s mid sized mills Billet export offers to Nepal reported at USD 455-460/MT & Wire rod at USD 530-535/MT ex-mill, Durgapur.
— Raipur, Central India based Integrated plants offering Sponge P-DRI at INR 18,400-18,500/MT & Sponge DR CLO grade at INR 20,500-20,700/MT ex-plant.
— BIOP Steels in South India has increased sponge prices by INR 100/MT, offering FeM 80 & 82 C-DRI lumps at INR 19,200/MT & INR 19,600/MT ex-plant, Karnataka; an official reported.
— Apple Industries in Bellary (Karnataka) offered Sponge FeM 83+ P-DRI lump at INR 19,700-19,800/MT & Billet at INR 32,500/MT ex-plant.
— BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 18,700/MT ex-Bellary; an official reported.
— Hyderabad, South India based steel manufacturers increased their Billet offer by INR 200-300/MT to INR 33,000/MT. And offering 12 MM Rebar at around INR 36,500/MT. prices are ex-plant & excluding GST.
Finished Long
— Trade discounts in Raipur Wire rod increased by INR 200/MT and stood at INR 700-1,000/MT. Basic prices for 5.5 mm is hovering at INR 38,600/MT ex-Raipur & INR 37,000-38,000/MT ex-Durgapur.
— Raipur, Central India based ERW pipe manufacturers increased prices by INR 200-300/MT & offers reported at around INR 37,400-37,500/MT ex-plant & excluding GST.
— Mandi Gobindgarh, North India based ERW pipe manufacturers offers reported at around INR 40,700/MT ex-plant & excluding GST.
— Hyderabad (South India) based manufacturer Mahalakshmi Profiles Pvt. Ltd (MPL) has offered ERW Pipe at INR 39,400/MT ex-plant. (basic & excluding GST). Offers incline by INR 400/MT D-o-D.
Reference prices as on 5th April 2019
| Region | Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M |
| Scrap | Ex-Alang | HMS(80:20) | 26,200 | 26,100 | 26,300 | + 200 | 25,500 | 25,800 |
| Ex-Mumbai | HMS(80:20) | 25,300 | 25,200 | 25,400 | + 200 | 24,800 | 25,200 | |
| Ex-Chennai | HMS(80:20) | 24,600 | 24,500 | 24,700 | 0 | 24,600 | 25,000 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 20,250 | 20,200 | 20,300 | – 50 | 19,800 | 19,400 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 18,900 | 18,800 | 18,900 | + 100 | 18,700 | 19,700 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 19,800 | 19,700 | 19,900 | 0 | 19,800 | 20,300 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 18,900 | 18,800 | 19,000 | + 100 | 18,800 | 20,000 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 19,000 | 18,900 | 19,100 | 0 | 18,400 | 18,300 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 18,450 | 18,400 | 18,500 | – 50 | 18,500 | 19,100 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 18,600 | 18,500 | 18,700 | + 100 | 18,400 | 19,600 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 19,100 | 19,000 | 19,200 | + 100 | 19,000 | 20,100 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 34,650 | 34,600 | 34,700 | + 150 | 34,000 | 34,800 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 31,600 | 31,500 | 31,700 | + 100 | 31,050 | 31,600 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 31,000 | 30,900 | 31,100 | + 100 | 30,200 | 31,200 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 31,250 | 31,200 | 31,300 | – 100 | 31,000 | 32,050 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 33,000 | 32,900 | 33,100 | + 100 | 32,800 | 34,500 | |
| Billet | Ex-Mandi Gobindgarh | 100×100 mm, IS 2831 | 35,000 | 34,900 | 35,100 | + 100 | 34,300 | 35,200 |
| Ex-Durgapur | 100×100 mm, IS 2831 | 32,100 | 32,000 | 32,200 | + 100 | 31,450 | 32,100 | |
| Ex-Rourkela | 100×100 mm, IS 2831 | 31,400 | 31,300 | 31,400 | + 200 | 30,600 | 31,700 | |
| Ex-Raipur | 100×100 mm, IS 2831 | 31,750 | 31,700 | 31,800 | – 150 | 31,350 | 32,300 | |
| Ex-Ahmedabad | 100×100 mm, IS 2831 | 34,000 | 33,900 | 34,100 | 0 | 32,800 | 35,200 | |
| Ex-Mumbai | 100×100 mm, IS 2831 | 33,200 | 33,100 | 33,300 | + 100 | 33,100 | 34,700 | |
| Ex-Chennai | 100×100 mm, IS 2831 | 32,750 | 32,700 | 33,000 | + 250 | 32,100 | 34,200 | |
| Ex-Hyderabad | 100×100 mm, IS 2831 | 33,000 | 32,900 | 33,100 | + 300 | 32,500 | 33,700 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 38,600 | 38,500 | 38,800 | + 300 | 37,700 | 37,900 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 37,300 | 37,100 | 37,500 | + 200 | 36,300 | 37,000 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 36,200 | 36,000 | 36,400 | 0 | 35,600 | 36,400 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 37,000 | 36,800 | 37,200 | 0 | 36,800 | 38,000 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 37,700 | 37,500 | 38,000 | 0 | 37,300 | 39,000 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 36,500 | 36,300 | 36,700 | 0 | 36,000 | 37,300 | |
| Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 37,000 | 36,800 | 37,800 | + 200 | 36,400 | 37,100 |
| Ex-Raipur | Wire Rod(5.5 MM) | 38,600 | 37,800 | 38,600 | + 300 | 37,800 | 38,800 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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