Spot Billet & Sponge iron prices have increased by INR 100-400/MT in Central & Eastern India. However in remaining markets it fluctuated by INR 100/MT, day-on-day.
As per participants, the prices in Central & Eastern regions found support in line with short supply of materials as power cuts resumed in Punjipathra, Raigarh based industries by about 50%. Raigarh, is one of the major merchant supplier of Semis products to the North-east & Central regions.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 31,200-35,000/MT (USD 449-504) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 18,800-20,300/MT (USD 270-293); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 15th April 2019 (Monday) INR to USD exchange rate stood at INR 69.37.
— ICEX (Indian Commodity Exchange Ltd) May’19 contract for STEELLONG today open at INR 34,080/MT & last traded (IST 18:25) at INR 34,220/MT.
— BSE Sensex closed at 38,905(+138) on Monday, as against last day (Friday) at 38,767(+160).
— NSE Nifty50 index was closed today at 11,690(+46).
Raw Materials
— RINL has invited a global tender for purchase of 30,000 MT low ash metallurgical coke at Visakhapatnam, India. The due date for bid submission is 25 Apr’19 till 10:30 Hrs.
— Chinese mills have raised bids for low grade (Fe 57%) iron ore fines by 12% W-o-W to around USD 56/MT, FoB India or equivalent to USD 66-67/MT, CFR China.
— Essel Mining – a major iron ore miner in Odisha has reduced its offers for iron ore lumps by INR 300-400/MT (USD 4-6/MT) and INR 200/MT in fines (USD 3/MT) w.e.f 13 Apr’19.
— Local manufacturers in Central India are offering 60-14 Silico Manganese at around INR 68,000-68,500/MT ex-plant.
Semi Finished
— As per participants, Vizag Steel has received weak response for 10,386 MT Billet export tender to Nepal. However bid prices didn’t confirmed by the sources.
— Pig iron prices by private mills continued rise, offers for steel grade is hovering at INR 28,500-29,000/MT ex-Durgapur & INR 28,000-28,500/MT ex-Jharkhand.
— As per officials from Jindal Steel, limited availability for Pig iron and last deals for steel grade reported at INR 27,500/MT ex-plant, Raigarh.
— Raipur, Central India based Integrated plants offers increased by INR 200-300/MT, offering Sponge P-DRI at INR 18,700-18,800/MT & Sponge DR CLO grade at INR 20,700-20,900/MT ex-plant.
— Raipur based mills sourcing Sponge iron from Odisha at around INR 19,800-20,000/MT FoR Raipur.
— Raigarh based steel manufacturers offered P-DRI at INR 18,000/MT ex-Raigarh & Billet sold during 1st half at INR 31,700/MT FoR Raipur, as per trade sources.
— Odisha based medium size sponge manufacturers offered FeM 80 C-DRI (70:30 mix material) at INR 18,700-18,900/MT ex-plant & excluding GST.
— Sources reported Chandrapur (Maharashtra) based manufacturers offered Sponge P-DRI (FeM 80) at INR 18,800/MT, ex-plant & excluding GST.
— BMM Ispat a price trend setter in South Indian sponge market has offered FeM 80 P-DRI lumps at INR 19,300-19,400/MT ex-Bellary, Karnataka.
— BIOP Steels in South India has offered FeM 80 & 82 C-DRI lumps at INR 19,800/MT & INR 20,200/MT ex-plant, Karnataka; an official reported.
Wire Rod & Pipe
— Trade discounts in Raipur Wire rod reduced to INR 1,000-1,200/MT as against end of last week at INR 1,300-1,500/MT. Meanwhile basic (5.5 mm) wire rod offers unaltered in Raipur at INR 38,500/MT and up by INR 200/MT in Durgapur at INR 37,300-37,800/MT; ex-plant.
— Sources reported, Rashmi Metaliks offer for 5.5 mm Wire rod at around INR 37,700/MT ex-plant, Kharagpur, Eastern India.
— Raipur, Central India based ERW pipe manufacturers 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 39,700/MT ex-plant. (basic & excluding GST).
Rebar (12 mm)
— Rathi Steels has unchanged their offers at around INR 39,100/MT (ex-Delhi).
— Raipur based – SPEED TMT has offered at INR 36,100/MT (down by INR 200/MT).
— Gujarat based Shreeyam Power & Steel Industries Ltd. (National TMT) unchanged their offers at INR 38,600/MT FoR.
— Jalna based SRJ Peety Steels Pvt Ltd (Shree Om) has offered at INR 37,700/MT(down by INR 200/MT).
— Chennai based ARS Steel (ARS 500 D) is offering at INR 40,800/MT.
— Chennai based Ponneri Steel Ind. (Triple Power) has unchanged their offers at INR 38,500/MT.
Note – Prices mentioned above are ex-work, excluding GST & changes are placed on day basis.
Reference prices as on 15th April 2019
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 25,800 | 25,700 | 25,900 | 0 | 26,300 | 25,700 |
| Ex-Mumbai | HMS(80:20) | 25,200 | 25,000 | 25,300 | 0 | 25,400 | 25,000 | |
| Ex-Chennai | HMS(80:20) | 24,600 | 24,400 | 24,800 | 0 | 24,700 | 24,800 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 20,300 | 20,200 | 20,400 | 0 | 20,700 | 19,250 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 18,800 | 18,700 | 18,900 | + 100 | 19,100 | 18,800 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 19,800 | 19,700 | 19,900 | + 300 | 19,600 | 19,700 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,800 | 19,700 | 19,900 | 0 | 19,400 | 19,000 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 19,000 | 18,900 | 19,100 | 0 | 19,450 | 18,050 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 18,750 | 18,700 | 18,800 | + 150 | 18,500 | 18,300 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,400 | 19,300 | 19,500 | – 50 | 19,000 | 18,400 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 19,900 | 19,800 | 20,000 | 0 | 19,400 | 18,900 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 34,600 | 34,500 | 34,700 | + 200 | 34,800 | 33,800 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 31,600 | 31,500 | 31,700 | + 100 | 31,900 | 31,200 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 30,800 | 30,700 | 30,800 | + 200 | 31,400 | 30,300 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 31,100 | 31,000 | 31,200 | + 250 | 31,300 | 30,900 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 32,700 | 32,600 | 32,800 | – 100 | 33,300 | 33,100 | |
| Billet | Ex-Mandi Gobindgarh | 100×100 mm, IS 2831 | 35,000 | 34,900 | 35,100 | + 300 | 35,200 | 34,100 |
| Ex-Durgapur | 100×100 mm, IS 2831 | 32,000 | 31,900 | 32,100 | + 150 | 32,350 | 31,500 | |
| Ex-Rourkela | 100×100 mm, IS 2831 | 31,200 | 31,100 | 31,300 | + 100 | 31,800 | 30,500 | |
| Ex-Raipur | 100×100 mm, IS 2831 | 31,800 | 31,700 | 31,900 | + 400 | 31,900 | 31,400 | |
| Ex-Ahmedabad | 100×100 mm, IS 2831 | 33,250 | 33,200 | 33,300 | + 50 | 33,750 | 33,800 | |
| Ex-Mumbai | 100×100 mm, IS 2831 | 32,900 | 32,800 | 33,000 | – 100 | 33,500 | 33,300 | |
| Ex-Chennai | 100×100 mm, IS 2831 | 33,200 | 33,100 | 33,300 | – 100 | 33,300 | 33,000 | |
| Ex-Hyderabad | 100×100 mm, IS 2831 | 33,000 | 32,900 | 33,100 | 0 | 33,300 | 32,700 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 38,000 | 37,800 | 38,200 | – 200 | 38,900 | 36,900 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 37,200 | 37,000 | 37,400 | 0 | 37,500 | 36,000 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 36,000 | 35,900 | 36,200 | – 100 | 36,400 | 35,600 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 36,900 | 36,700 | 37,100 | 0 | 37,100 | 36,900 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 37,900 | 37,700 | 38,100 | – 100 | 38,100 | 38,000 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 36,500 | 36,300 | 36,700 | – 100 | 37,000 | 36,500 | |
| Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 37,500 | 37,300 | 37,800 | + 200 | 37,700 | 36,500 |
| Ex-Raipur | Wire Rod(5.5 MM) | 38,500 | 37,300 | 38,500 | 0 | 38,600 | 38,000 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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