Indian steel prices remain volatile owing to limited spot trades, SteelMint learned in conversation with mid sized mills.
The participants in major markets reported, less inquiries in finished products, this in turn slight price fluctuation in Sponge iron & Billet by INR 100-200/MT, day on day.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 31,200-34,900/MT (USD 448-501) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 18,800-20,400/MT (USD 270-293); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 16th April 2019 (Tuesday) INR to USD exchange rate stood at INR 69.60.
— ICEX (Indian Commodity Exchange Ltd) May’19 contract for STEELLONG today open at INR 34,220/MT & last traded (IST 18:15) at INR 34,100/MT.
— BSE Sensex closed at 39,275(+369) on Tuesday, as against last day (Monday) at 38,905(+138).
— NSE Nifty50 index was closed today at 11,787(+96).
Raw Materials
— Odisha’s merchant iron ore miner -Serajuddin recorded iron ore production at 7.75 MnT, up 3% against 7.51 MnT in FY’18.
— KJS Ahluwalia recorded 21% drop in dispatches at 5.61 MnT in FY’19 as against 7.07 MnT in FY18.
— West India (Rajasthan) based pellet maker – Jindal SAW has decreased pellet (Fe 63% grade) prices by INR 300/MT to INR 8,500/MT (delivered Kandla).
— IDCOL has invited a tender for the sale of 1200 MT high carbon ferro chrome. The due date of bid submission is 22 Apr’19 at 12:00 hrs IST.
— According to the latest assessment of Coking coal, spot prices of the Premium HCC are reported at around USD 201.75/MT FoB Australia & USD 213.65/MT CNF India.
— South African RB2 (5500 NAR) coal offers are assessed at USD 52/MT on FoB basis & USD 65/MT CNF India.
— 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
— Indian sponge iron export offers for FeM 78-80 grade lumps, recorded at USD 315/MT CPT Benapole (dry land port of Bangladesh & India) and USD 335/MT CNF Chittagong, Bangladesh.
— Jharkhand Ispat has raised prices by INR 200/MT and reported Sponge C-DRI lumps at INR 19,800/MT, P-DRI at INR 18,300/MT & Billet at INR 32,200/MT ex-plant. As per officials, Durgapur based furnaces buying sponge P-DRI and freight cost is INR 800-900/MT.
— Rashmi Metaliks in Durgapur, known as price trend setter, has offered Sponge P-DRI at INR 19,100-19,200/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 20,700-20,800/MT ex-plant.
— Hare Krishna, a 300 TPD sponge manufacturer in Bellary, Karnataka has offered FeM 79-80 P-DRI at INR 19,500/MT ex-plant, an official reported.
— Apple Industries in Bellary (Karnataka) offered Sponge FeM 83+ P-DRI lump at INR 20,500/MT & Billet at INR 32,600/MT ex-plant.
— BIOP Steels in South India has offered FeM 80 & 82 C-DRI lumps at INR 19,800/MT & 20,200/MT ex-plant, Karnataka; an official reported.
Wire Rod & Pipe
— Trade discounts in Raipur Wire rod is hovering at INR 1,300-1,500/MT . Basic prices up by INR 200/MT to INR 38,700/MT ex-Raipur & INR 37,400-38,200/MT ex-Durgapur.
— Presently in Raipur, Central India almost all major plants are operational who are largely making Wire rod, hence supply is strong in merchant market, as per participants.
— Raipur, Central India based ERW pipe manufacturers offers reported at around INR 38,000/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 based in North region has offered around INR 39,300/MT ex-Delhi (up by around INR 200/MT).
— Raipur based – SPEED TMT has unchanged their offers at INR 36,100/MT.
— Gujarat based Shreeyam Power & Steel Industries Ltd. (National TMT) is offering at INR 38,800/MT FoR (up by INR 200/MT).
— Jalna based SRJ Peety Steels Pvt Ltd (Shree Om) has unchanged their offers at INR 37,700/MT.
— Chennai based ARS Steel (ARS 500 D) has unchanged their offers at INR 40,800/MT.
— East region based – Shakambhari Ispat & Power Ltd. is currently offering Wire Rod 5.5 mm at INR 38,200/MT and TMT at INR 37,800/MT.
Note – Prices mentioned above are ex-work, excluding GST & changes are placed on day basis.
Reference prices as on 16th April 2019
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 26,100 | 26,000 | 26,200 | + 300 | 26,100 | 25,600 |
| Ex-Mumbai | HMS(80:20) | 25,200 | 25,000 | 25,300 | 0 | 25,300 | 24,800 | |
| Ex-Chennai | HMS(80:20) | 24,600 | 24,400 | 24,800 | 0 | 24,900 | 24,800 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 20,400 | 20,300 | 20,500 | + 100 | 20,600 | 19,300 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 18,800 | 18,700 | 18,900 | 0 | 19,000 | 18,600 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 19,900 | 19,800 | 20,000 | + 100 | 19,500 | 19,700 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,900 | 19,800 | 20,000 | + 100 | 19,400 | 19,000 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 19,100 | 19,000 | 19,200 | + 100 | 19,400 | 18,100 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 18,700 | 18,600 | 18,800 | – 50 | 18,500 | 18,400 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,500 | 19,400 | 19,600 | + 100 | 19,000 | 18,400 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 20,000 | 19,900 | 20,100 | + 100 | 19,400 | 18,800 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 34,500 | 34,400 | 34,600 | – 100 | 34,750 | 33,800 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 31,600 | 31,500 | 31,700 | 0 | 31,700 | 31,300 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 31,000 | 30,900 | 31,100 | + 200 | 31,000 | 30,200 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 31,000 | 30,900 | 31,100 | – 100 | 31,000 | 30,900 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 32,750 | 32,700 | 32,800 | + 50 | 33,000 | 33,000 | |
| Billet | Ex-Mandi Gobindgarh | 100×100 mm, IS 2831 | 34,900 | 34,800 | 35,000 | – 100 | 35,100 | 34,100 |
| Ex-Durgapur | 100×100 mm, IS 2831 | 32,000 | 31,900 | 32,100 | 0 | 32,100 | 31,600 | |
| Ex-Rourkela | 100×100 mm, IS 2831 | 31,200 | 31,100 | 31,200 | 0 | 31,500 | 30,500 | |
| Ex-Raipur | 100×100 mm, IS 2831 | 31,700 | 31,600 | 31,800 | – 100 | 31,500 | 31,400 | |
| Ex-Ahmedabad | 100×100 mm, IS 2831 | 33,300 | 33,200 | 33,400 | + 50 | 33,650 | 33,700 | |
| Ex-Mumbai | 100×100 mm, IS 2831 | 33,000 | 32,900 | 33,100 | + 100 | 33,200 | 33,200 | |
| Ex-Chennai | 100×100 mm, IS 2831 | 33,200 | 33,100 | 33,300 | 0 | 33,300 | 33,000 | |
| Ex-Hyderabad | 100×100 mm, IS 2831 | 33,000 | 32,900 | 33,100 | 0 | 33,000 | 32,500 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 38,200 | 38,000 | 38,400 | + 200 | 38,700 | 36,800 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 37,400 | 37,200 | 37,600 | + 200 | 37,300 | 36,000 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 36,000 | 35,900 | 36,200 | 0 | 36,300 | 35,500 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 36,900 | 36,700 | 37,100 | 0 | 37,100 | 36,800 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 37,800 | 37,600 | 38,000 | – 100 | 38,100 | 38,000 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 36,700 | 36,500 | 36,900 | + 200 | 36,700 | 36,000 | |
| Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 37,600 | 37,400 | 38,000 | + 100 | 37,400 | 36,500 |
| Ex-Raipur | Wire Rod(5.5 MM) | 38,700 | 37,300 | 38,700 | + 200 | 38,600 | 37,700 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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