Indian steel prices declined further by INR 100-400/MT owing to limited spot trades following poor off take in finished steel products, as stated by industry participants.
The major drop in Billet prices recorded in Western India, Gujarat by INR 400/MT. However in remaining markets the prices fell by INR 100-200/MT, day on day.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 25,600-28,800/MT (USD 367-413) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 16,200-17,100/MT (USD 232-245); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 2nd August 2019 (Friday) INR to USD exchange rate stood at INR 69.66.
— ICEX (Indian Commodity Exchange Ltd) Sep’19 contract for STEELLONG today open at INR 27,900/MT & last traded (IST 18:15) at INR 27,790/MT.
— BSE Sensex closed at 37,118(+99) on Friday, as against last day (Thursday) at 37,018(-462).
— NSE Nifty50 index was closed today at 10,997(+17) & Nifty Metal at 2,459(-47).
Raw Materials
— NMDC’s movement of iron ore export for the month of Jul’19 witnessed 17% declined to 39 rakes as compared to 47 rakes in Jun’19.
— A Pellet export deal of 55,000 MT reported at USD 128-129/MT CFR China (down by USD 2-3/MT), equivalent to USD 114-115/MT FOB India. Most of the manufacturers hold their offers at USD 131-132/MT CFR China.
— According to market sources report to SteelMint, assessment for South African lump to India is heard at around USD 135-137/MT, CNF Kandla.
— Melting scrap offers in Western India- Gujarat decline by INR 300/MT in a day trade activities.
Semi Finished
— Private pig iron producers has further cuts offer and steel grade offers stood at INR 24,400-24,800/MT ex-Durgapur, INR 24,300-24,600/MT ex-Jharkhand, INR 24,000/MT ex-Jajpur (Odisha) & INR 25,100-25,200/MT FoR Raipur/Raigarh; excluding 18% GST.
— Raipur based manufacturers have slightly reduced Sponge P-DRI offers by INR 100/MT to INR 16,100-16,200/MT ex-plant.
— Rashmi Metaliks in Durgapur has lowered Sponge P-DRI offers by INR 300/MT to INR 16,000/MT, as per participants.
— The Billet (100*100 mm) export offers by mid sized mills in Durgapur, eastern India reported at around USD 370/MT ex-mill, this is equivalent to USD 395/MT CFR Raxaul border, Nepal.
— Odisha based medium size sponge manufacturers offered FeM 80 C-DRI (70:30 mix material) at INR 16,400-16,500/MT ex-plant & excluding GST.
— South India based Amoda iron & steel ltd is offering FeM 75 & 80 C-DRI lump at INR 15,800/MT & INR 16,800/MT ex-plant (Hyderabad).
— BIOP Steels in South India has kept offers unaltered; offering 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.
Wire Rod & Pipe
— Trade discounts in Raipur wire rod firm at INR 1,300-1,500/MT through the manufacturers and INR 1,700-1,900/MT by re-sellers end. However trade reference prices of 5.5 mm wire rod drop by INR 300/MT to INR 29,800-30,400/MT ex-Raipur & by INR 100/MT to INR 30,000-30,800/MT ex-Durgapur.
— Mandi Gobindgarh, North India based ERW pipe manufacturers offers reported at around INR 34,600/MT ex-plant & excluding GST. Offers decline by INR 400/MT D-o-D.
— Raipur, Central India based ERW pipe manufacturers offers reported at around INR 32,000-32,400/MT ex-plant & excluding GST. Offers decline by INR 200-300/MT D-o-D.
— Odisha based ERW pipe manufacturers offers reported at around INR 32,000-32,200/MT ex-plant & excluding GST, a Pipe (100 TPD) manufacturer reported.
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 August 2019
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 22,100 | 22,000 | 22,200 | – 300 | 22,000 | 23,000 |
| Ex-Mumbai | HMS(80:20) | 21,200 | 21,100 | 21,400 | 0 | 21,000 | 22,000 | |
| Ex-Chennai | HMS(80:20) | 20,400 | 20,200 | 20,600 | + 100 | 20,200 | 21,600 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 17,000 | 16,900 | 17,100 | – 300 | 17,450 | 18,000 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 16,450 | 16,400 | 16,500 | – 50 | 16,500 | 16,700 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 17,100 | 17,000 | 17,200 | – 100 | 17,200 | 17,200 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 16,400 | 16,300 | 16,500 | 0 | 16,400 | 16,800 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 16,000 | 15,900 | 16,100 | – 300 | 16,500 | 17,000 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 16,100 | 16,000 | 16,200 | – 100 | 16,200 | 16,200 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 15,900 | 15,800 | 16,000 | 0 | 15,900 | 16,300 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 16,400 | 16,300 | 16,500 | 0 | 16,400 | 16,800 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 28,700 | 28,600 | 28,800 | – 200 | 29,350 | 30,950 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 25,800 | 25,700 | 25,900 | 0 | 26,100 | 27,600 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 25,200 | 25,100 | 25,300 | – 100 | 25,500 | 26,950 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 25,800 | 25,700 | 25,900 | – 100 | 26,250 | 27,050 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 27,150 | 27,100 | 27,200 | – 150 | 27,650 | 28,800 | |
| Billet | Ex-Mandi Gobindgarh | 100×100 mm, IS 2831 | 28,800 | 28,700 | 28,900 | – 200 | 29,500 | 31,150 |
| Ex-Durgapur | 100×100 mm, IS 2831 | 26,100 | 26,000 | 26,200 | – 200 | 26,600 | 28,100 | |
| Ex-Rourkela | 100×100 mm, IS 2831 | 25,600 | 25,500 | 25,700 | 0 | 25,700 | 27,400 | |
| Ex-Raipur | 100×100 mm, IS 2831 | 26,100 | 26,000 | 26,200 | – 150 | 26,600 | 27,800 | |
| Ex-Ahmedabad | 100×100 mm, IS 2831 | 28,200 | 28,200 | 28,400 | – 400 | 28,500 | 29,450 | |
| Ex-Mumbai | 100×100 mm, IS 2831 | 27,450 | 27,400 | 27,500 | – 150 | 27,900 | 29,000 | |
| Ex-Chennai | 100×100 mm, IS 2831 | 29,100 | 29,000 | 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 | 33,500 | 33,300 | 33,700 | – 200 | 34,100 | 35,300 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 30,300 | 30,100 | 30,500 | – 200 | 30,800 | 33,300 | |
| Ex-Rourkela | 12MM, IS 1786- 415/500 Fe | 29,700 | 29,500 | 29,800 | – 100 | NA | NA | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 29,400 | 29,200 | 29,600 | – 200 | 29,700 | 32,200 | |
| Ex-Jalna | 12-25 MM, IS 1786- 500 Fe | 30,900 | 30,700 | 31,100 | – 200 | 32,100 | 33,300 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 30,400 | 30,200 | 30,600 | 0 | 31,100 | 32,200 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 33,500 | 33,300 | 33,700 | 0 | 33,700 | 34,700 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 32,000 | 31,800 | 32,100 | 0 | 32,200 | 32,700 | |
| Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 30,200 | 30,000 | 30,800 | – 100 | 30,400 | 32,700 |
| Ex-Raipur | Wire Rod(5.5 MM) | 30,400 | 29,800 | 31,600 | – 300 | 31,400 | 33,700 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
Leave a Reply