Indian sponge iron & billet prices marginally dropped by INR 100/MT today on average trade activities. Following the trends, rebar offers being slump by INR 100-200/MT amid sufficient stock with the re-rollers.
The participants in major markets have reported fall in productions through the standalone mills. Hence they are assuming that, Semis market should find stability in coming days.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 25,600-29,150/MT (USD 372-426) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 16,400-17,300/MT (USD 236-253); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 1st August 2019 (Thursday) INR to USD exchange rate stood at INR 69.10.
— ICEX (Indian Commodity Exchange Ltd) Sep’19 contract for STEELLONG today open at INR 28,280/MT & last traded (IST 18:12) at INR 28,210/MT.
— BSE Sensex closed at 37,018(-462) on Thursday, as against last day (Wednesday) at 37,481(+83).
— NSE Nifty50 index was closed today at 10,980(-105) & Nifty Metal at 2,507(-19).
Raw Materials
— State-owned, KIOCL has invited a tender for purchase of 70,000 DMT iron ore from overseas/off-shore sources for use in the pellet plant. Interested bidders can submit their bids till 09 Aug’19 at 14:00 hrs.
— Odisha based based pellet maker concluded deal to Raigarh for around 10,000 MT pellet at around INR 5,600/MT (ex-plant)- Sources.
— Deb Kalyan Mohanty assumed charge as the new Director (Commercial) at RINL-VSP on August 1, 2019.
Semi Finished
— SAIL conducted auction for around 2,500 MT steel grade pig iron today from its Rourkela Steel plant (eastern India) & received good response as entire offered quantity was sold out at INR 24,250-24,300/MT; ex-plant, Rourkela.
— Indian mill heard to have concluded a bulk parcel of 50,000 MT granulated pig iron (GPI) last week to China at around USD 340-350/MT FOB India east coast- sources.
— Jindal Steel has slightly reduced offers and reported steel grade pig iron at INR 24,800-25,000/MT ex-Raigarh & panther shots at INR 24,000/MT ex-Angul, Odisha.
— Mesco Steels in Jajpur, Odisha has lowered steel grade pig iron offers by INR 300-400/MT to INR 24,100-24,200/MT ex-plant.
— Raipur based manufacturers have maintained Sponge P-DRI offer at INR 16,200-16,300/MT ex-plant, however no major trades reported.
— As per sources, Rashmi Metaliks in Durgapur has lowered Sponge P-DRI offers by INR 100/MT to INR 16,300/MT.
— Aloke Steel Industries (Jharkhand) offered Fem 78-80 C-DRI lumps at INR 16,600/MT & Sponge mix material (60:40) at INR 16,300/MT ex-plant. Manufacturer is also offering trade discount of INR 300/MT in bulk bookings.
— BIOP Steels in South India has offered FeM 80 & 82 C-DRI lumps at INR 16,400/MT & INR 16,800/MT ex-plant, Karnataka; an official reported.
— BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 15,900-16,000/MT ex-Bellary, an official reported. And added concluded few deals of around 4,000 MT to Hyderabad.
Wire Rod & Pipe
— Trade discounts in Raipur wire rod assessed at INR 1,300-1,500/MT through the manufacturers and INR 1,700-1,900/MT by re-sellers end. Meanwhile trade reference prices of 5.5mm wire rod stood at INR 30,100-30,700/MT ex-Raipur & INR 30,200-31,000/MT ex-Durgapur.
— Mandi Gobindgarh, North India based ERW pipe manufacturers offers reported at around INR 35,000/MT ex-plant & excluding GST.
— Raipur, Central India based ERW pipe manufacturers offers reported at around INR 32,300-32,600/MT ex-plant & excluding GST. Offers decline by INR 300-400/MT D-o-D.
Rebar (12 mm)
— Rathi Steels based in North region current offering around INR 34,800/MT (ex-Delhi).
— Raipur based – Prime Ispat Ltd. (Tecon TMT) is current offering at INR 30,000/MT.
— Raigarh based Scan Group branding (Shrishti TMT) is offering at INR 30,300/MT (down by INR 100/MT).
— Gujarat based Diamond TMT has unchanged their offers at INR 33,300/MT.
— Wardha based Sangam TMT is currently offering at INR 30,500/MT.
— Jalna based SRJ Peety Steels Pvt Ltd (Shree Om TMT) is current offering at INR 31,300/MT.
— West region based Bhagwati Ferro Metal (P) Ltd is current offering at INR 30,400/MT.
— South region based – VRKP Steel Industry Pvt Ltd – (VRKP TMT) has unchanged their offers at INR 33,100/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 1st August 2019
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 22,400 | 22,300 | 22,400 | + 200 | 22,000 | 23,500 |
| Ex-Mumbai | HMS(80:20) | 21,200 | 21,100 | 21,400 | + 200 | 21,000 | 22,400 | |
| Ex-Chennai | HMS(80:20) | 20,300 | 20,100 | 20,400 | + 100 | 20,300 | 21,800 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 17,300 | 17,200 | 17,400 | – 100 | 17,500 | 18,250 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 16,500 | 16,400 | 16,600 | 0 | 16,600 | 16,800 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 17,200 | 17,100 | 17,300 | 0 | 17,400 | 17,300 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 16,400 | 16,300 | 16,500 | 0 | 16,500 | 16,900 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 16,300 | 16,200 | 16,400 | – 100 | 16,500 | 17,250 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 16,200 | 16,100 | 16,300 | 0 | 16,400 | 16,400 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 15,900 | 15,800 | 16,000 | + 100 | 16,000 | 16,500 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 16,400 | 16,300 | 16,500 | 0 | 16,500 | 17,100 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 28,900 | 28,800 | 29,000 | – 300 | 29,100 | 31,300 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 25,800 | 25,700 | 25,900 | – 100 | 25,900 | 27,800 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 25,300 | 25,200 | 25,400 | – 100 | 25,500 | 27,300 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 25,900 | 25,800 | 26,000 | – 100 | 26,000 | 27,300 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 27,300 | 27,300 | 27,400 | + 100 | 27,500 | 29,100 | |
| Billet | Ex-Mandi Gobindgarh | 100×100 mm, IS 2831 | 29,000 | 28,900 | 29,100 | – 300 | 29,200 | 31,500 |
| Ex-Durgapur | 100×100 mm, IS 2831 | 26,300 | 26,200 | 26,400 | – 100 | 26,400 | 28,300 | |
| Ex-Rourkela | 100×100 mm, IS 2831 | 25,600 | 25,500 | 25,700 | – 100 | 25,800 | 27,700 | |
| Ex-Raipur | 100×100 mm, IS 2831 | 26,250 | 26,200 | 26,300 | – 50 | 26,400 | 28,100 | |
| Ex-Ahmedabad | 100×100 mm, IS 2831 | 28,600 | 28,500 | 28,700 | – 100 | 28,700 | 29,800 | |
| Ex-Mumbai | 100×100 mm, IS 2831 | 27,600 | 27,600 | 27,700 | + 100 | 27,750 | 29,300 | |
| Ex-Chennai | 100×100 mm, IS 2831 | 29,150 | 29,100 | 29,200 | – 50 | 29,200 | 29,700 | |
| Ex-Hyderabad | 100×100 mm, IS 2831 | 28,000 | 27,900 | 28,100 | 0 | 28,000 | 29,000 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 33,700 | 33,600 | 33,900 | – 100 | 34,200 | 35,400 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 30,500 | 30,300 | 30,700 | – 100 | 30,800 | 33,500 | |
| Ex-Rourkela | 12MM, IS 1786- 415/500 Fe | 29,800 | 29,700 | 30,000 | 0 | NA | NA | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 29,600 | 29,400 | 29,800 | – 200 | 30,000 | 32,400 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 30,400 | 30,200 | 30,600 | 0 | 31,100 | 32,600 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 33,500 | 33,400 | 33,700 | – 100 | 33,700 | 34,900 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 32,000 | 31,800 | 32,100 | 0 | 32,200 | 33,000 | |
| Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 30,300 | 30,200 | 31,000 | – 100 | 30,400 | 33,000 |
| Ex-Raipur | Wire Rod(5.5 MM) | 30,700 | 30,100 | 31,900 | – 200 | 31,700 | 34,000 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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