Indian steel prices slightly fluctuated amid subdued trade activities as prices in across major markets increased by INR 100-200/MT except in Western India where same proportion fall observed.
SteelMint also learned from the participants that, major Indian steel mills are planing to roll-over rebar prices for May’19 deliveries, however officials confirmation awaited for the same.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 31,000-34,700/MT (USD 447-501) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 18,900-19,900/MT (USD 272-287); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 2nd May 2019 (Thursday) INR to USD exchange rate stood at INR 69.34.
— ICEX (Indian Commodity Exchange Ltd) May’19 contract for STEELLONG today open at INR 33,940/MT & last traded (IST 18:13) at INR 34,050/MT.
— BSE Sensex closed at 38,981(-50) on Thursday, as against last day (Tuesday) at 39,031(-35).
— NSE Nifty50 index was closed today at 11,724(-23).
Raw Materials
— NMDC IRON ORE rake movement for exports from Chhattisgarh mines increased sharply in Apr’19; procurement by C.G. based units stable at 45 rakes.
— State-owned pellet maker – Kudremukh Iron Ore Company Ltd (KIOCL) has signed a tripartite MoU with Emirates Steel, Abu Dhabi, and Star Global, Dubai for sale of high-grade pellets to Emirates Steel.
Semi Finished
— TATA Metaliks Ltd, the largest foundry grade pig iron manufacturer in eastern India has kept prices unchanged for May’19. Offers for foundry pig iron reported at INR 32,500/MT & Low Silicon (1-1.5%) at INR 29,900/MT; ex-plant, Kharagpur.
— SAIL (RSP) has received good response for today’s 7,850 MT steel grade pig iron auction. As per sources, near to 5,000 MT (64%) material have been sold out at the base price of INR 27,450-27,500/MT ex-plant, Rourkela.
— Neo Metaliks in Durgapur, has slightly reduced pig iron prices by INR 100/MT to INR 28,700/MT ex-plant. As per officials, response is not up to mark at prevailing prices.
— SAIL has floated export tender for 16,200 MT Prime Mild Steel Non-Alloy Concast billets (150*150 mm) from Bhilai Steel plant The cargo will be shipped from Vizag port. Due date for bid submission is 16:00 hrs as per IST on 08 May’19.
— Indian sponge iron export offers to Bangladesh remain unchanged with limited trade activities. The price assessment for lumps of grade FeM 78-80, recorded at USD 310/MT CPT Benpole (dry land port of Bangladesh & India) and USD 330/MT CNF Chittagong, Bangladesh.
— Raipur, Central India based Integrated plants offering Sponge P-DRI at INR 19,000-19,200/MT & Sponge DR CLO grade at INR 20,800-21,000/MT ex-plant.
— As per sources, Rashmi Metaliks in Durgapur has raised sponge prices by INR 100-200/MT to INR 18,100-18,200/MT (P-DRI).
— Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 18,900/MT & Billet at INR 31,000/MT ex-plant.
— East India, Odisha based manufacturer, Mahavir Ferro Alloys offered Billet at INR 31,000/MT ex-plant as per officials. Mostly deals concluded to Patna (Bihar) & local markets.
— Apple Industries in Bellary (Karnataka) offered Sponge FeM 83+ P-DRI lump at INR 20,100/MT & Billet at INR 32,100/MT ex-plant. As per officials, billet deals are mostly concluded to Wada (Maharashtra) market at this prices. Freight cost via road to Wada at INR 1,300-1,400/MT.
— BIOP Steels in South India has offered FeM 80 & 82 C-DRI lumps at INR 19,100/MT & 19,500/MT ex-plant, Karnataka; an official reported.
Wire Rod & Pipe
— Trade discounts in Raipur Wire rod further reduced by INR 200/MT to INR 700-900/MT, meanwhile basic prices for 5.5 mm steady at INR 37,900/MT ex-plant. In Durgapur offers for same material is hovering at INR 36,800-37,500/MT ex-plant.
— Raipur, Central India based ERW pipe manufacturers increased prices by INR 200-300/MT & offers reported at around INR 37,900-38,000/MT ex-plant & excluding GST.
— Mandi Gobindgarh, North India based ERW pipe manufacturers offers reported at around INR 40,400/MT ex-plant & excluding GST.
Rebar (12 mm)
— Rathi Steels based in North region is offering at around INR 38,500/MT (ex-Delhi).
— Raipur based – SPEED TMT has unchanged their offers at INR 35,500/MT.
— Real Ispat (GK TMT) is offering at INR 37,800/MT (up by INR 200/MT).
— Gujarat based Shreeyam Power & Steel Industries Ltd. (National TMT) has unchanged their offers at INR 38,300/MT FoR.
— Jalna based SRJ Peety Steels Pvt Ltd (Shree Om) has unchanged their offers at INR 37,200/MT.
— Mumbai based Guardian Castings Pvt. Ltd. (Guardian TMT) is offering at INR 37,300/MT.
Note – Prices mentioned above are ex-work, excluding GST & changes are placed on day basis. Prices are subject to reconfirmation.
Reference prices as on 2nd May 2019.
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 26,500 | 26,400 | 26,600 | 0 | 27,200 | 26,000 |
| Ex-Mumbai | HMS(80:20) | 25,100 | 24,900 | 25,200 | 0 | 25,200 | 25,100 | |
| Ex-Chennai | HMS(80:20) | 24,200 | 24,100 | 24,400 | – 100 | 24,400 | 24,600 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 19,300 | 19,200 | 19,400 | + 100 | 19,500 | 20,300 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 18,900 | 18,800 | 18,900 | + 100 | 18,700 | 18,800 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 19,900 | 19,800 | 20,000 | + 100 | 19,600 | 19,800 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,100 | 19,000 | 19,200 | 0 | 19,500 | 18,800 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 18,100 | 18,000 | 18,200 | + 100 | 18,300 | 19,000 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 18,950 | 18,900 | 19,000 | + 50 | 18,600 | 18,500 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 18,800 | 18,700 | 18,900 | 0 | 19,000 | 18,500 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 19,200 | 19,100 | 19,300 | – 100 | 19,600 | 19,000 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 34,350 | 34,300 | 34,400 | + 50 | 33,800 | 34,500 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 31,450 | 31,400 | 31,500 | + 150 | 31,200 | 31,500 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 30,700 | 30,600 | 30,800 | 0 | 30,600 | 30,900 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 31,050 | 31,000 | 31,100 | + 50 | 30,850 | 31,350 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 33,400 | 33,300 | 33,400 | – 100 | 33,000 | 32,900 | |
| Billet | Ex-Mandi Gobindgarh | 100×100 mm, IS 2831 | 34,700 | 34,600 | 34,800 | + 100 | 34,200 | 34,900 |
| Ex-Durgapur | 100×100 mm, IS 2831 | 31,800 | 31,700 | 31,900 | + 100 | 31,500 | 32,000 | |
| Ex-Rourkela | 100×100 mm, IS 2831 | 31,000 | 30,900 | 31,100 | 0 | 30,900 | 31,200 | |
| Ex-Raipur | 100×100 mm, IS 2831 | 31,750 | 31,700 | 31,800 | + 150 | 31,500 | 31,900 | |
| Ex-Ahmedabad | 100×100 mm, IS 2831 | 33,100 | 33,000 | 33,100 | – 150 | 33,600 | 34,000 | |
| Ex-Mumbai | 100×100 mm, IS 2831 | 33,600 | 33,500 | 33,600 | – 100 | 33,300 | 33,100 | |
| Ex-Chennai | 100×100 mm, IS 2831 | 31,950 | 31,900 | 32,000 | + 50 | 32,800 | 32,500 | |
| Ex-Hyderabad | 100×100 mm, IS 2831 | 32,000 | 31,900 | 32,100 | 0 | 32,300 | 32,700 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 37,700 | 37,500 | 37,900 | 0 | 37,600 | 38,300 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 36,800 | 36,600 | 37,000 | + 300 | 36,800 | 37,100 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 35,400 | 35,300 | 35,500 | + 100 | 35,600 | 36,200 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 37,000 | 36,800 | 37,300 | + 100 | 36,900 | 37,000 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 37,300 | 37,400 | 37,700 | – 100 | 37,700 | 37,700 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 35,800 | 35,600 | 36,000 | 0 | 36,000 | 36,500 | |
| Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 37,200 | 36,800 | 37,500 | + 200 | 37,000 | 36,800 |
| Ex-Raipur | Wire Rod(5.5 MM) | 37,900 | 37,100 | 37,900 | 0 | 37,900 | 38,300 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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