Indian Steel prices marginally fluctuated by INR 100-200/MT today on average demand in major markets. The trade volumes in Finished products also observed on regular basis.
Participants mentioned that, prices likely to remain volatile as liquidity crunch remain a major concern for bulk deals due to elections in the country.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 30,900-34,700/MT (USD 447-502) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 18,700-20,300/MT (USD 270-294); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 12th April 2019 (Friday) INR to USD exchange rate stood at INR 69.15.
— ICEX (Indian Commodity Exchange Ltd) May’19 contract for STEELLONG today open at INR 34,220/MT & last traded (IST 18:19) at INR 34,110/MT.
— BSE Sensex closed at 38,767(+160) on Friday, as against last day (Thursday) at 38,607(+21).
— NSE Nifty50 index was closed today at 11,643(+46).
Raw Materials
— IDCOL has issued tender for sale of around 28,000 MT Iron Ore and 11,400 MT Sponge Grade Calibrated Lump Ore from its Roida ‘C’ iron and manganese mines, Keonjhar (Odisha). The Due Date for submitting the bids is 17 Apr’19 till 11:00 Hrs.
— NMDC sold 9.23 MnT iron ore via Karnataka e-auctions in FY19, less by 30% Y-o-Y.
— JSW Steel’s iron ore purchases from Karnataka e-auctions decreased by 48% to 1.02 MnT in Mar’19 compared to 1.98 MnT in Feb’19.
— Tata Steel Ltd has issued another RFQ (Request for Quotation) for procurement of 15,000 MT imported steel melting scrap for its newly acquired plant Bhushan Steel Limited.
— Indian coal imports from Australia exhibited a reduction of 4.3% to 3.04 MnT in Mar’19, against 3.18 MnT in Feb’19.
— Imported scrap offers to India for HMS 1&2 (80:20) Dubai origin containers stood at around USD 323/MT, CFR Nhava Sheva.
Semi Finished
— Mid sized mills export offers to Nepal is hovering at USD 450-455/MT for BIllet & USD 530-535/MT for Wire rod, ex-mill at Durgapur.
— Ludhiana, North India based trade participants reported steel & foundry grade pig iron offers at INR 30,200-30,400/MT & INR 34,200-34,400/MT on FoR basis & excluding 18% GST.
— Rashmi Metaliks in Durgapur, known as price trend setter, has offered Sponge P-DRI at INR 19,000-19,100/MT – Sources.
— Raipur, Central India based Integrated plants offering Sponge P-DRI at INR 18,600-18,800/MT & Sponge DR CLO grade at INR 20,500-20,700/MT ex-plant.
— Aloke Steel Industries (Jharkhand) offered Fem 78-80 C-DRI lumps at INR 19,800/MT & Sponge mix material (60:40) at INR 19,500/MT ex-plant (Discount of INR 300/MT on bulk bookings of 300 MT, Immediate payment).
— Odisha based medium size sponge manufacturers offered FeM 80 C-DRI (70:30 mix material) at INR 18,700-18,800/MT ex-plant & excluding GST.
— Apple Industries in Bellary (Karnataka) offered Sponge FeM 83+ P-DRI lump at INR 20,200/MT & Billet at INR 32,500/MT ex-plant.
— BIOP Steels in South India has offered FeM 80 & 82 C-DRI lumps at INR 19,500/MT & 19,900/MT ex-plant, Karnataka; an official reported.
Wire Rod & Pipe
— Trade discounts in Raipur Wire rod (5.5 mm) unaltered at INR 1,100-1,300/MT, however basic prices increased by INR 200/MT to INR 38,500/MT ex-plant. Meanwhile in Durgapur limited inventories have strengthened price range to INR 37,000-37,700/MT ex-plant.
— As per light size structure mills in Raipur, demand is good specifically from southern region and basic prices (55-Angle) reported at around INR 32,000/MT ex-plant.
— Mandi Gobindgarh, North India based ERW pipe manufacturers offers reported at around INR 40,800/MT ex-plant & excluding GST.
Rebar (12 mm)
— Rathi Steels based in North region has unchanged their offers at INR 39,400/MT (ex-Delhi).
— Raipur based – SPEED TMT has unchanged their offers at INR 36,300/MT.
— Gujarat based Shreeyam Power & Steel Industries Ltd. (National TMT)is offering at INR 38,600/MT FoR (Down by INR 200/MT).
— Jalna based SRJ Peety Steels Pvt Ltd (Shree Om) is offering at INR 37,900/MT.
— Mumbai based Vistar Metal Ind. Pvt. Ltd. (Vistar TMT) has unchanged their offers at INR 37,100/MT.
— Chennai based ARS Steel (ARS 500 D) is current offering at INR 40,800/MT.
Note – Prices mentioned above are ex-work, excluding GST & changes are placed on day basis.
Reference prices as on 12th April 2019
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 26,000 | 25,900 | 26,100 | + 200 | 26,200 | 25,800 |
| Ex-Mumbai | HMS(80:20) | 25,100 | 25,000 | 25,200 | 0 | 25,300 | 25,000 | |
| Ex-Chennai | HMS(80:20) | 24,600 | 24,400 | 24,800 | – 100 | 24,500 | 24,800 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 20,300 | 20,200 | 20,400 | 0 | 20,250 | 19,200 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 18,700 | 18,700 | 18,800 | – 100 | 18,900 | 18,900 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 19,500 | 19,400 | 19,600 | 0 | 19,800 | 19,900 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,700 | 19,600 | 19,700 | – 100 | 18,900 | 19,200 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 19,100 | 19,000 | 19,200 | + 100 | 19,000 | 18,000 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 18,550 | 18,500 | 18,600 | + 50 | 18,450 | 18,500 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,400 | 19,300 | 19,400 | 0 | 18,600 | 18,500 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 19,700 | 19,600 | 19,800 | 0 | 19,100 | 19,000 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 34,400 | 34,300 | 34,400 | – 200 | 34,650 | 34,000 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 31,500 | 31,400 | 31,600 | 0 | 31,600 | 31,200 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 30,600 | 30,500 | 30,700 | 0 | 31,000 | 30,400 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 30,850 | 30,800 | 30,900 | + 50 | 31,250 | 31,000 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 32,800 | 32,700 | 32,900 | + 200 | 33,000 | 33,600 | |
| Billet | Ex-Mandi Gobindgarh | 100×100 mm, IS 2831 | 34,700 | 34,600 | 34,800 | – 300 | 35,000 | 34,300 |
| Ex-Durgapur | 100×100 mm, IS 2831 | 31,800 | 31,700 | 31,900 | – 100 | 32,100 | 31,550 | |
| Ex-Rourkela | 100×100 mm, IS 2831 | 31,100 | 31,000 | 31,200 | + 100 | 31,400 | 30,700 | |
| Ex-Raipur | 100×100 mm, IS 2831 | 31,400 | 31,300 | 31,500 | + 100 | 31,750 | 31,550 | |
| Ex-Ahmedabad | 100×100 mm, IS 2831 | 33,500 | 33,400 | 33,600 | – 50 | 34,000 | 34,000 | |
| Ex-Mumbai | 100×100 mm, IS 2831 | 33,000 | 32,900 | 33,100 | + 200 | 33,200 | 33,800 | |
| Ex-Chennai | 100×100 mm, IS 2831 | 33,300 | 33,200 | 33,400 | 0 | 32,750 | 33,400 | |
| Ex-Hyderabad | 100×100 mm, IS 2831 | 33,000 | 32,900 | 33,100 | 0 | 33,000 | 33,000 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 38,300 | 38,100 | 38,500 | – 100 | 38,600 | 37,300 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 37,200 | 37,000 | 37,400 | + 200 | 37,300 | 36,300 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 36,200 | 36,100 | 36,300 | + 100 | 36,200 | 35,800 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 36,900 | 36,700 | 37,100 | – 200 | 37,000 | 37,400 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 38,000 | 37,800 | 38,200 | 0 | 37,700 | 38,300 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 36,500 | 36,300 | 36,700 | 0 | 36,500 | 36,700 | |
| Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 37,300 | 37,000 | 37,700 | + 200 | 37,000 | 36,500 |
| Ex-Raipur | Wire Rod(5.5 MM) | 38,500 | 37,300 | 38,500 | + 200 | 38,600 | 38,000 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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