Indian spot steel trades remained weak as billet prices drop further by INR 100-700/MT on day basis with major fall of INR 400-700/MT in central, north & southern regions.
Inline rebar prices declined by INR 100-800/MT following major corrections in southern India – Hyderabad by INR 800/MT. Meanwhile Sponge iron prices slump by INR 100-300/MT day-on-day in major markets.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 24,800-28,000/MT (USD 345-391) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 15,700-16,900/MT (USD 218-236); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 20th August 2019 (Tuesday) INR to USD exchange rate stood at INR 71.68.
— ICEX (Indian Commodity Exchange Ltd) Sep’19 contract for STEELLONG today open at INR 27,150/MT & last traded (IST 18:18 hrs) at INR 26,750/MT.
— BSE Sensex closed at 37,328(-74) on Tuesday, as against last day (Monday) at 37,402(+52).
— NSE Nifty50 index was closed today at 11,017(-36) & Nifty Metal at 2,351(-40).
Raw Materials
— According to the latest assessment of Coking coal, spot prices of the Premium HCC are reported at around USD 155/MT FoB Australia & USD 170.4/MT CNF India.
— South African RB2 (5500 NAR) coal offers are assessed at USD 47.62/MT on FoB basis & USD 63.77/MT CNF India.
— Imported scrap offers to India for HMS (80:20) Europe origin containers stood at around USD 280/MT, CFR Nhava Sheva.
— Melting scrap offers in Northern India- Punjab decline by INR 500/MT in a day trade activities.
— Indian Silico manganese prices remain under pressure amid low demand. Current assessment at INR 63,500-64,000/MT (ex-Raipur)
Semi Finished
— Mesco Steels in Jajpur, Odisha has further lowered pig iron offers and reported steel grade material at INR 23,000-23,100/MT ex-plant.
— Raipur based plants reduced sponge prices by INR 300/MT and deals for P-DRI reported at INR 15,400-15,500/MT ex-plant.
— Rashmi Metaliks in Durgapur has cuts sponge P-DRI price by INR 100-200/MT to INR 15,600-15,700/MT, as per sources
— Apple Industries in Bellary (Karnataka) offered prime grade Billet at INR 27,500-27,600/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.
— Hare Krishna, a 300 TPD sponge manufacturer in Bellary, Karnataka has offered FeM 79-80 P-DRI at INR 16,000-16,200/MT ex-plant, an official reported.
— Hyderabad, South India based steel manufacturers decreased their Billet offer by INR 500/MT to INR 26,000/MT ex-plant.
Wire Rod & Pipe
— Trade discounts in Raipur wire rod remained firm and assessed at INR 1,800-2,000/MT by re-sellers and base prices by manufacturers stood at INR 30,600/MT ex-plant. Meanwhile in Durgapur trade reference prices learned at INR 29,500-30,300/MT ex-plant.
— Mandi Gobindgarh, North India based ERW pipe manufacturers offers reported at INR 33,700/MT ex-plant & excluding GST.
— Odisha based ERW pipe manufacturers offers reported at around INR 31,000/MT ex-plant & excluding GST, a Pipe (100 TPD) manufacturer reported.
— Raipur, Central India based ERW pipe manufacturers offers reported at INR 30,600-30,800/MT ex-plant & excluding GST.
Rebar (12 mm)
— Raipur based Real Ispat (GK TMT) is offering at INR 31,500/MT (down by INR 300/MT).
— Raigarh based Anjani Steels Ltd. (Radhe TMT) is current offering at INR 29,500/MT.
— Gujarat based Diamond TMT is current offering at INR 32,100/MT
— Jalna based Rajuri Steel Pvt. Ltd. (Rajuri TMT) has unchanged their offers at INR 31,300/MT.
— Jalna based SRJ Peety Steels Pvt Ltd (Shree Om) is current offering at INR 31,200
— Mumbai based Sun Metallics And Alloy Pvt. Ltd. (SUN TMT) is current offering at INR 30,200/MT.
— Gujarat based Akshar Ispat Ltd. (Akshat TMT) is current offering at INR 31,900/MT FoR.
Note – Prices mentioned above are ex-work, excluding GST & changes are placed on day basis. Prices are subject to reconfirmation.
Reference prices as on 20th August 2019
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 21,600 | 21,500 | 21,700 | – 100 | 22,500 | 22,100 |
| Ex-Mumbai | HMS(80:20) | 21,400 | 21,400 | 21,600 | 0 | 20,900 | 21,300 | |
| Ex-Chennai | HMS(80:20) | 20,500 | 20,300 | 20,600 | 0 | 20,400 | 20,400 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 16,600 | 16,500 | 16,700 | – 200 | 17,500 | 17,800 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 15,700 | 15,600 | 15,800 | – 300 | 16,600 | 16,650 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 16,900 | 16,800 | 17,000 | – 200 | 17,500 | 17,700 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 16,400 | 16,300 | 16,500 | 0 | 16,600 | 16,600 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 15,600 | 15,500 | 15,700 | – 200 | 16,500 | 16,800 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 15,500 | 15,400 | 15,600 | – 300 | 16,600 | 16,800 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 15,900 | 15,800 | 16,000 | – 100 | 16,000 | 16,300 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 16,400 | 16,300 | 16,500 | – 100 | 16,500 | 16,700 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 28,000 | 27,900 | 28,100 | – 550 | 29,800 | 29,950 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 25,750 | 25,700 | 25,800 | – 50 | 26,900 | 26,400 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 24,800 | 24,700 | 24,900 | – 350 | 26,100 | 25,900 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 24,800 | 24,700 | 24,900 | – 300 | 26,600 | 26,600 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 27,300 | 27,200 | 27,400 | + 100 | 27,700 | 27,850 | |
| Billet | Ex-Mandi Gobindgarh | 100×100 mm, IS 2831 | 28,000 | 27,900 | 28,100 | – 700 | 29,900 | 30,000 |
| Ex-Durgapur | 100×100 mm, IS 2831 | 26,050 | 26,000 | 26,100 | – 250 | 27,300 | 26,900 | |
| Ex-Rourkela | 100×100 mm, IS 2831 | 25,000 | 24,900 | 25,100 | -450 | 26,400 | 26,200 | |
| Ex-Raipur | 100×100 mm, IS 2831 | 25,250 | 25,200 | 25,300 | – 450 | 27,300 | 27,050 | |
| Ex-Ahmedabad | 100×100 mm, IS 2831 | 27,600 | 27,500 | 27,800 | – 200 | 28,600 | 28,700 | |
| Ex-Mumbai | 100×100 mm, IS 2831 | 27,500 | 27,400 | 27,600 | + 100 | 27,950 | 28,150 | |
| Ex-Chennai | 100×100 mm, IS 2831 | 28,300 | 28,200 | 28,400 | – 100 | 28,700 | 29,200 | |
| Ex-Hyderabad | 100×100 mm, IS 2831 | 26,000 | 25,900 | 26,100 | – 500 | 27,300 | 28,500 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 32,800 | 32,600 | 33,000 | – 200 | 33,300 | 34,300 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 29,600 | 29,400 | 29,800 | – 400 | 30,800 | 31,300 | |
| Ex-Rourkela | 12-25 MM, IS 1786- 500 Fe | 29,200 | 29,100 | 29,300 | – 200 | 30,000 | NA | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 29,000 | 28,800 | 29,100 | – 300 | 30,500 | 30,500 | |
| Ex-Jalna | 12-25 MM, IS 1786- 500 Fe | 30,900 | 30,700 | 31,100 | – 100 | 31,300 | 32,600 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 30,600 | 30,400 | 30,700 | 0 | 30,800 | 31,300 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 32,700 | 32,500 | 32,900 | – 100 | 33,100 | 33,600 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 30,000 | 29,800 | 30,100 | – 800 | 31,200 | 32,500 | |
| Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 29,600 | 29,500 | 30,300 | – 400 | 31,000 | 30,800 |
| Ex-Raipur | Wire Rod(5.5 MM) | 29,200 | 28,600 | 30,600 | – 500 | 30,900 | 32,300 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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