Indian billet & rebar prices fluctuated by INR 100-300/MT today on average inquiries. The participants reported disparity between bids and offers, hence the spot trades were not upto the mark, on daily basis.
However, sponge iron offers moved up sharply by INR 100-500/MT with major rise seen in central region by INR 300-500/MT (USD 4-7). Meanwhile as per trade participants, there were no major deals on increased offers.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 26,500-30,100/MT (USD 384-437) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 16,400-17,500/MT (USD 238-254); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 18th July 2019 (Thursday) INR to USD exchange rate stood at INR 68.86.
— ICEX (Indian Commodity Exchange Ltd) Aug’19 contract for STEELLONG today open at INR 29,090/MT & last traded (IST 18:14) at INR 29,110/MT.
— BSE Sensex closed at 38,897(-318) on Thursday, as against last day (Wednesday) at 39,215(+84).
— NSE Nifty50 index was closed today at 11,596(-90) & Nifty Metal at 2,778(-70).
Raw Materials
— South India (Karnataka) based – NMDC Donimalai Pellet Plant has reduced pellet offers by INR 330/MT to INR 6,500/MT as against last offer at INR 6,830/MT (FoT basis).
— According to the latest assessment of Coking coal, spot prices of the Premium HCC are reported at around USD 183/MT FoB Australia & USD 199.1/MT CNF India.
Semi Finished
— According to market sources report to SteelMint, an Indian mill is heard to have concluded one bulk export deal of granulated Pig iron to Bangladesh at around USD 340/MT FoB India.
— Raipur based integrated plants have sharply raised sponge P-DRI offers by INR 300-500/MT to INR 17,000-17,200/MT, however buying interest reported at near to INR 16,800-16,900/MT ex-plant.
— Raigarh based Singhal Steel offered P-DRI at INR 16,400/MT & Billet at INR 26,700-26,800/MT ex-Raigarh, officials reported.
— Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 16,300-16,400/MT & Billet at INR 26,200-26,300/MT ex-plant.
— Shri Hari Sponge, an Odisha based plant offered FeM 80 sponge mix material at INR 16,500/MT ex-plant.
— Divya Jyothi Steels Ltd in Bellary (Karnataka) offered Sponge FeM 80 C-DRI lump at INR 16,400-16,500/MT ex-plant.
— Apple Industries in Bellary (Karnataka) offered Sponge FeM 83+ P-DRI lump at INR 17,000/MT & Billet at INR 27,700-27,800/MT ex-plant.
— BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 16,000-16,100/MT ex-Bellary, an official reported.
— BIOP Steels in South India has kept offers unaltered; offering FeM 80 & 82 C-DRI lumps at INR 16,500/MT & INR 16,900/MT ex-plant, Karnataka; an official reported.
Wire Rod & Pipe
— Trade discounts in Raipur Wire rod assessed at INR 1,500-1,700/MT and base prices down by INR 300/MT to INR 33,200/MT ex-plant. However, in Durgapur trade reference prices were firm at INR 31,000-31,800/MT ex-plant.
— Raipur, Central India based ERW pipe manufacturers offers reported at around INR 34,000/MT ex-plant & excluding GST.
— Mandi Gobindgarh, North India based ERW pipe manufacturers offers reported at around INR 36,000/MT ex-plant & excluding GST.
Rebar (12 mm)
— Rathi Steels based in North region is offering around INR 35,100/MT (ex-Delhi).
— Raipur based – SPEED TMT is offering at INR 30,800/MT (down by INR 100/MT).
— Real Ispat (GK TMT) is offering at INR 33,300/MT (down by INR 400/MT).
— Raigarh based Anjani Steels Ltd. (Radhe TMT) is offering at INR 30,600/MT (down by INR 300/MT).
— Raigarh based Scan Group branding (Shrishti TMT) is offering at INR 30,800/MT (down by INR 200/MT).
— Gujarat based Shreeyam Power & Steel Industries Ltd. (National TMT) has unchanged their offers at INR 33,700/MT FoR.
— 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) is offering at INR 32,600/MT (down by INR 300/MT).
— South region based – VRKP Steel Industry Pvt Ltd – (VRKP TMT) is offering at INR 33,600/MT (down by INR 200/MT).
— Chennai based Sakthi Ferro Alloys India Pvt. Ltd. (SSI TMT) is offering 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 18th July 2019
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 22,100 | 22,000 | 22,200 | + 100 | 22,800 | 24,900 |
| Ex-Mumbai | HMS(80:20) | 21,100 | 20,900 | 21,300 | 0 | 21,200 | 23,700 | |
| Ex-Chennai | HMS(80:20) | 20,600 | 20,500 | 20,700 | 0 | 21,200 | 22,400 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 17,500 | 17,400 | 17,600 | + 100 | 17,800 | 17,400 |
| Ex-Raigarh | Mix, FeM 80%, +/-1 | 17,200 | 17,100 | 17,300 | + 500 | 16,350 | 16,700 | |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 16,500 | 16,400 | 16,600 | 0 | 16,300 | 17,100 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 16,400 | 16,300 | 16,500 | – 100 | 16,600 | 17,500 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 16,500 | 16,400 | 16,600 | + 100 | 16,800 | 16,400 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 16,800 | 16,700 | 17,000 | + 300 | 16,100 | 16,300 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 16,000 | 15,900 | 16,100 | – 100 | 16,000 | 17,000 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 16,500 | 16,400 | 16,600 | – 100 | 16,500 | 17,500 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 30,000 | 29,900 | 30,100 | 0 | 30,150 | 31,800 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 26,300 | 26,200 | 26,400 | 0 | 27,000 | 28,800 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 26,100 | 26,000 | 26,200 | 0 | 26,100 | 27,600 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 26,800 | 26,700 | 26,900 | + 200 | 26,600 | 27,800 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 27,500 | 27,400 | 27,600 | – 50 | 27,750 | 30,000 | |
| Billet | Ex-Mandi Gobindgarh | 100×100 mm, IS 2831 | 30,100 | 30,000 | 30,200 | 0 | 30,200 | 32,000 |
| Ex-Durgapur | 100×100 mm, IS 2831 | 27,000 | 26,900 | 27,100 | 0 | 27,500 | 29,200 | |
| Ex-Rourkela | 100×100 mm, IS 2831 | 26,500 | 26,400 | 26,500 | + 100 | 26,500 | 28,100 | |
| Ex-Raipur | 100×100 mm, IS 2831 | 27,400 | 27,300 | 27,500 | + 250 | 27,350 | 28,500 | |
| Ex-Ahmedabad | 100×100 mm, IS 2831 | 29,000 | 28,900 | 29,100 | + 50 | 29,000 | 31,100 | |
| Ex-Mumbai | 100×100 mm, IS 2831 | 27,800 | 27,700 | 27,900 | 0 | 28,050 | 30,200 | |
| Ex-Chennai | 100×100 mm, IS 2831 | 29,200 | 29,000 | 29,300 | 0 | 29,300 | 30,150 | |
| Ex-Hyderabad | 100×100 mm, IS 2831 | 28,500 | 28,400 | 28,500 | 0 | 28,300 | 29,300 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 34,400 | 34,300 | 34,600 | – 200 | 34,500 | 36,200 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 31,500 | 31,300 | 31,700 | 0 | 32,300 | 34,100 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 30,500 | 30,400 | 30,700 | – 100 | 31,300 | 33,400 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 31,100 | 31,000 | 31,300 | 0 | 31,200 | 33,400 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 33,800 | 33,700 | 34,000 | 0 | 34,200 | 35,500 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 32,500 | 32,300 | 32,700 | + 200 | 32,500 | 33,200 | |
| Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 31,200 | 31,000 | 31,800 | 0 | 31,800 | 33,900 |
| Ex-Raipur | Wire Rod(5.5 MM) | 32,400 | 31,700 | 33,200 | – 300 | 32,900 | 34,600 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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