Indian steel prices fell in through out the first half today, however at the end of day prices increased by INR 200-300/MT in across major markets.
The participants in central & eastern regions reported healthy booking in Semis products, although in finished products demand has remained average.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 30,300-34,200/MT (USD 432-489) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 18,500-19,400/MT (USD 264-277); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 16th May 2019 (Thursday) INR to USD exchange rate stood at INR 70.07.
— ICEX (Indian Commodity Exchange Ltd) Jun’19 contract for STEELLONG today open at INR 33,380/MT & last traded (IST 18:18) at INR 33,540/MT.
— BSE Sensex closed at 37,393(+278) on Thursday, as against last day (Wednesday) at 37,114(-203).
— NSE Nifty50 index was closed today at 11,257(+100).
Raw Materials
— According to the latest assessment of Coking coal, spot prices of the Premium HCC are reported at around USD 212.5/MT FoB Australia & USD 224.7/MT CNF India.
— SteelMint’s assessment for low grade (Fe 57/58%) iron ore fines prices have remained mostly stable at USD 57-58/MT, FoB India equivalent to USD 67-68/MT, CFR China.
— Imported scrap offers to India for HMS 1&2 (80:20) Dubai origin containers stood at around USD 325/MT, CFR Nhava Sheva.
— Melting scrap offers in Western India- Gujarat decline by INR 200/MT in a day trade activities.
Semi Finished
— Neo Metaliks in Durgapur has further reduced pig iron prices by INR 200/MT to INR 27,600/MT ex-plant.
— Rashmi Metaliks in Durgapur, known as price trend setter, has kept Sponge P-DRI offers unaltered at INR 17,600/MT – Sources.
— As per participants, Raipur based sponge manufacturers received healthy bookings for P-DRI at INR 18,200-18,300/MT, hence later it increased at INR 18,400-18,500/MT ex-plant.
— Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 18,500/MT & Billet at INR 30,300/MT ex-plant.
— East India, Odisha based manufacturer, Mahavir Ferro Alloys offered Billet at INR 30,500/MT ex-plant as per officials.
— Sources reported Chandrapur (Maharashtra) based manufacturers offered Sponge C-DRI (70:30) & P-DRI (FeM 80) at INR 19,800-19,900/MT & INR 18,300/MT, ex-plant & excluding GST.
— Apple Industries in Bellary (Karnataka) offered Sponge FeM 83+ P-DRI lump at INR 19,500/MT & Billet at INR 31,000/MT ex-plant.
— BIOP Steels in South India has offered FeM 80 & 82 C-DRI lumps at INR 18,900/MT & INR 19,300/MT ex-plant, Karnataka; an official reported.
Wire Rod & Pipe
— Trade discounts in Raipur Wire rod have reduced by INR 200/MT to INR 800-1,000/MT with fall in basic price by INR 200/MT to INR 37,000/MT ex-plant.
— Hyderabad (South India) based manufacturer Mahalakshmi Profiles Pvt. Ltd (MPL) has offered ERW Pipe at INR 39,600/MT ex-plant. (basic & excluding GST).
— Raipur, Central India based ERW pipe manufacturers offers reported at around INR 37,500/MT ex-plant & excluding GST.
Rebar (12 mm)
— Rathi Steels based in North region is offering around INR 38,000/MT (ex-Delhi).
— Raipur based – SPEED TMT unchanged their offering at INR 35,000/MT.
— Real Ispat (GK TMT) is offering at INR 37,000/MT (down by INR 300/MT).
— Raigarh based Anjani Steels Ltd. (Radhe TMT) is offering at INR 35,000/MT (down by INR 300/MT).
— Gujarat based Shreeyam Power & Steel Industries Ltd. (National TMT) is offering at INR 36,600/MT FoR.
— Jalna based Bhagyalaxmi Rolling Mill Pvt Ltd (Polaad TMT) has unchanged their offers at INR 36,600/MT.
— Jalna based Rajuri Steel Pvt. Ltd. (Rajuri) TMT is offering at INR 36,100/MT (down by INR 400/MT).
— South region based – VRKP Steel Industry Pvt Ltd – (VRKP TMT) is offering at INR 36,900/MT (down by INR 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 16th May 2019.
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 25,400 | 25,300 | 25,500 | – 200 | 25,700 | 26,100 |
| Ex-Mumbai | HMS(80:20) | 24,900 | 24,800 | 25,000 | 0 | 25,000 | 25,100 | |
| Ex-Chennai | HMS(80:20) | 23,500 | 23,300 | 23,700 | 0 | 23,900 | 24,500 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 18,800 | 18,700 | 18,900 | + 100 | 18,900 | 20,200 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 18,500 | 18,400 | 18,500 | 0 | 18,700 | 18,800 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 19,400 | 19,300 | 19,500 | 0 | 19,600 | 19,800 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 18,700 | 18,600 | 18,800 | – 100 | 19,100 | 19,800 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 17,600 | 17,500 | 17,700 | + 100 | 17,700 | 18,900 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 18,300 | 18,200 | 18,400 | 0 | 18,600 | 18,600 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 18,300 | 18,200 | 18,400 | 0 | 18,700 | 19,300 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 18,900 | 18,800 | 19,000 | 0 | 19,300 | 19,900 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 33,950 | 33,900 | 34,000 | + 400 | 34,000 | 34,500 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 30,900 | 30,800 | 31,000 | + 100 | 31,200 | 31,500 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 30,050 | 30,000 | 30,100 | + 50 | 30,400 | 30,800 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 30,400 | 30,300 | 30,500 | + 100 | 30,700 | 30,800 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 32,000 | 31,900 | 32,100 | – 400 | 32,600 | 32,700 | |
| Billet | Ex-Mandi Gobindgarh | 100×100 mm, IS 2831 | 34,200 | 34,100 | 34,300 | + 400 | 34,400 | 34,800 |
| Ex-Durgapur | 100×100 mm, IS 2831 | 31,400 | 31,300 | 31,500 | + 100 | 31,500 | 31,900 | |
| Ex-Rourkela | 100×100 mm, IS 2831 | 30,350 | 30,300 | 30,400 | + 50 | 30,700 | 31,200 | |
| Ex-Raipur | 100×100 mm, IS 2831 | 30,900 | 30,800 | 31,000 | 0 | 31,300 | 31,500 | |
| Ex-Ahmedabad | 100×100 mm, IS 2831 | 31,650 | 31,600 | 31,700 | – 50 | 32,300 | 33,400 | |
| Ex-Mumbai | 100×100 mm, IS 2831 | 32,300 | 32,200 | 32,400 | – 300 | 32,800 | 32,900 | |
| Ex-Chennai | 100×100 mm, IS 2831 | 31,500 | 31,400 | 31,600 | 0 | 31,900 | 33,200 | |
| Ex-Hyderabad | 100×100 mm, IS 2831 | 31,500 | 31,400 | 31,600 | 0 | 32,000 | 32,500 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 36,900 | 36,700 | 37,100 | – 100 | 37,500 | 38,100 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 36,300 | 36,100 | 36,500 | 0 | 36,500 | 37,400 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 34,700 | 34,500 | 34,800 | – 200 | 35,300 | 36,000 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 35,700 | 35,500 | 36,000 | – 200 | 36,200 | 36,900 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 37,000 | 36,800 | 37,200 | 0 | 37,200 | 37,800 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 35,200 | 35,000 | 35,400 | 0 | 35,700 | 36,000 | |
| Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 36,800 | 36,500 | 37,200 | + 100 | 37,200 | 37,400 |
| Ex-Raipur | Wire Rod(5.5 MM) | 37,000 | 36,000 | 37,000 | – 200 | 37,700 | 38,400 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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