Indian Sponge iron & Billet prices marginally fluctuates by INR 100-200/MT today amid average spot deals. However poor lifting in finished products resulted drop in price range by INR 100-400/MT, day on day.
The Finish steel – Rebar prices fall majorly in Central & Eastern regions by INR 300-400/MT due to mount selling pressure with the mid sized mills.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 26,400-30,100/MT (USD 384-437) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 16,500-17,400/MT (USD 240-253); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 17th July 2019 (Wednesday) INR to USD exchange rate stood at INR 68.84.
— ICEX (Indian Commodity Exchange Ltd) Aug’19 contract for STEELLONG today open at INR 29,250/MT & last traded (IST 18:50) at INR 29,280/MT.
— BSE Sensex closed at 39,215(+84) on Wednesday, as against last day (Tuesday) at 39,131(+234).
— NSE Nifty50 index was closed today at 11,687(+24) & Nifty Metal at 2,848(+1).
Raw Materials
— State Owned, Odisha Mining Corporation (OMC) conducted the e-auction on 15 Jul’19. Amid low demand in the market, and falling Ferro Chrome prices, OMC received a meagre response, as the entire quantity was not booked.
— India’s domestic pellet market remained slow witnessing limited trades.
— Melting scrap offers in India down by INR 100-400/MT with major of fall of INR 400/MT in western India – Jalna, day on day.
Semi Finished
— SAIL may cancel 16,200 MT billet export tender due to limited participation. The tender was put up for Prime Mild Steel Non-Alloy Concast billets, size 125*125 mm offered from Durgapur Steel plant.
— SAIL’s Rourkela Steel Plant (RSP) has conducted pig iron auction today to sell about 6,550 MT steel grade pig iron. As per sources, there was limited participation in the auction as only 1,000-1,200 MT pig iron have been sold at the base price of INR 25,360/MT ex-plant.
— Raipur based integrated plants holds sponge iron offers firm and limited deals reported at the offers of INR 16,500/MT ex-plant.
— Raigarh based manufacturers offered billet at around INR 27,200/MT & Sponge P-DRI at INR 16,500/MT FoR Raipur, as per sources.
— BMM Ispat in south India has kept offers unchanged and reported at around INR 16,300/MT for P-DRI, ex-Bellary.
Wire Rod & Pipe
— Trade discounts in Raipur Wire rod stable at INR 1,500-1,700/MT and base price slump by INR 200/MT to INR 33,500/MT ex-plant. In Durgapur also prices slightly drop by INR 100/MT to INR 31,000-31,800/MT ex-plant.
— ERW pipe offers declined by INR 100/MT in Mandi Gobindgarh, Raipur & Hyderabad.
Rebar (12 mm)
— Raipur based – SPEED TMT is offering at INR 30,900/MT(down by INR 300/MT).
— Real Ispat (GK TMT) has unchanged their offres at INR 33,700/MT.
— Raigarh based Anjani Steels Ltd. (Radhe TMT) is offering at INR 30,900/MT(down by INR 200/MT).
— Raigarh based Scan Group branding (Shrishti TMT) is offering at INR 31,000/MT(down by INR 100/MT).
— Gujarat based Shreeyam Power & Steel Industries Ltd. (National TMT) is offering at INR 33,700/MT FoR(down by INR 100/MT).
— Jalna based Bhagyalaxmi Rolling Mill Pvt Ltd (Polaad TMT) has unchanged their offers at INR 32,900/MT.
— Jalna based Rajuri Steel Pvt. Ltd. (Rajuri) TMT has unchanged their offers at INR 32,900/MT.
— South region based – VRKP Steel Industry Pvt Ltd – (VRKP TMT) has unchanged their offers at INR 33,800/MT.
— Chennai based J.R. Metal Chennai Ltd. (JR TMT) has unchanged their offers at INR 34,500/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 17th July 2019
| Products | Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M |
| Scrap | Ex-Alang | HMS(80:20) | 22,000 | 21,900 | 22,100 | -100 | 22,500 | 25,400 |
| Ex-Mumbai | HMS(80:20) | 21,100 | 20,900 | 21,300 | 0 | 21,200 | 23,900 | |
| Ex-Chennai | HMS(80:20) | 20,600 | 20,500 | 20,700 | 0 | 21,100 | 22,400 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 17,400 | 17,300 | 17,500 | 0 | 17,700 | 17,800 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 16,500 | 16,400 | 16,600 | 0 | 16,300 | 17,600 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 17,350 | 17,300 | 17,400 | -150 | 17,000 | 17,600 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 16,500 | 16,400 | 16,600 | 0 | 16,600 | 17,700 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 16,400 | 16,300 | 16,500 | -100 | 16,700 | 16,800 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 16,500 | 16,400 | 16,600 | 0 | 16,000 | 16,500 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 16,100 | 16,000 | 16,200 | -100 | 16,000 | 17,100 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 16,600 | 16,500 | 16,700 | 0 | 16,500 | 17,800 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 30,000 | 29,900 | 30,000 | +100 | 30,250 | 32,500 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 26,300 | 26,200 | 26,400 | -100 | 26,800 | 29,000 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 26,100 | 26,000 | 26,200 | +100 | 26,300 | 28,200 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 26,600 | 26,500 | 26,700 | 0 | 26,700 | 28,500 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 27,550 | 27,500 | 27,600 | -150 | 27,450 | 30,350 | |
| Billet | Ex-Mandi Gobindgarh | 100×100 mm, IS 2831 | 30,100 | 30,000 | 30,100 | +100 | 30,300 | 32,700 |
| Ex-Durgapur | 100×100 mm, IS 2831 | 27,000 | 26,900 | 27,100 | 0 | 27,400 | 29,500 | |
| Ex-Rourkela | 100×100 mm, IS 2831 | 26,400 | 26,300 | 26,500 | 0 | 26,600 | 28,700 | |
| Ex-Raipur | 100×100 mm, IS 2831 | 27,150 | 27,100 | 27,200 | -50 | 27,300 | 29,000 | |
| Ex-Ahmedabad | 100×100 mm, IS 2831 | 28,950 | 28,900 | 29,000 | +250 | 28,700 | 31,500 | |
| Ex-Mumbai | 100×100 mm, IS 2831 | 27,800 | 27,700 | 27,900 | -100 | 27,700 | 30,550 | |
| Ex-Chennai | 100×100 mm, IS 2831 | 29,200 | 29,100 | 29,300 | 0 | 29,500 | 30,200 | |
| Ex-Hyderabad | 100×100 mm, IS 2831 | 28,500 | 28,400 | 28,500 | 0 | 28,000 | 29,700 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 34,600 | 34,500 | 34,800 | +200 | 34,500 | 36,500 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 31,500 | 31,300 | 31,700 | -300 | 32,500 | 34,600 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 30,600 | 30,500 | 30,800 | -400 | 31,300 | 33,600 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 31,100 | 31,000 | 31,300 | -200 | 30,900 | 33,700 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 33,800 | 33,700 | 34,000 | 0 | 34,200 | 35,700 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 32,300 | 32,200 | 32,500 | -200 | 32,300 | 35,700 | |
| Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 31,200 | 31,000 | 31,800 | -100 | 31,900 | 34,300 |
| Ex-Raipur | Wire Rod(5.5 MM) | 32,700 | 31,900 | 33,500 | -200 | 32,900 | 34,900 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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