Indian steel prices surge further on account of improved buying interest and as per assessment the prices rose by INR 100-700/MT on day trade activities.
The rebar & billet prices rallied by INR 100-700/MT in which major hike of INR 500-700/MT (USD 7-10) observed in central & northern regions. Inline sponge iron prices increased 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 25,100-28,200/MT (USD 349-392) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 15,800-16,700/MT (USD 219-232); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 22nd August 2019 (Thursday) INR to USD exchange rate stood at INR 71.87.
— ICEX (Indian Commodity Exchange Ltd) Sep’19 contract for STEELLONG today open at INR 27,250/MT & last traded (IST 18:23 hrs) at INR 27,600/MT.
— BSE Sensex closed at 36,472(-587) on Thursday, as against last day (Wednesday) at 37,060(-267).
— NSE Nifty50 index was closed today at 10,737(-180) & Nifty Metal at 2,201(-81).
Raw Materials
— Ministry of Mines tribunal puts a stay to Karnataka govt order on NMDC Donimalai lease cancellation.
— South India (Karnataka) based – NMDC Donimalai Pellet Plant has reduced pellet offers by INR 500/MT to INR 6,000/MT as against last offer at INR 6,500/MT (FoT basis).
— Domestic Prices for Ferro Chrome in India is assessed in the range of INR 64,000-65,000/MT.
— Imported scrap offers to India for HMS 1&2 (80:20) Dubai origin containers stood at around USD 270/MT, CFR Nhava Sheva.
— Melting scrap offers in Western India- Jalna & Mumbai (Maharashtra) incline by INR 200/MT in a day trade activities.
Semi Finished
— Mid sized mills export offers to Nepal assessed at around USD 405/MT for Wire rod & around USD 350-355/MT for Billet, ex-plant at Durgapur, eastern India.
— Raipur based manufacturers sold sponge P-DRI at INR 15,500-15,600/MT ex-plant. Whereas offers from Raigarh assessed at INR 15,500/MT FoR Raipur.
— Raigarh based Singhal Steel offered billet at INR 25,200/MT ex-plant, officials reported.
— Odisha based medium size sponge manufacturers offered FeM 80 C-DRI (70:30 mix material) at INR 15,800-16,000/MT ex-plant & excluding GST.
— BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 15,900/MT ex-Bellary, offers decline by INR 100/MT from the last trade; an official reported.
— BIOP Steels in South India has decreased sponge prices by INR 300/MT, offering FeM 80 & 82 C-DRI lumps at INR 16,600/MT & INR 17,000/MT ex-plant, Karnataka; an official reported.
Wire Rod & Pipe
— Trade discounts in Raipur wire rod dropped by INR 500/MT to INR 1,300-1,500/MT by re-sellers and base prices also hike through the manufacturers by INR 300/MT to INR 30,600/MT ex-plant. Meanwhile in Durgapur trade reference prices up by INR 200/MT to INR 29,200-30,000/MT ex-plant.
— Mandi Gobindgarh, North India based ERW pipe manufacturers offers reported at around INR 32,500/MT ex-plant & excluding GST.
— Raipur, Central India based ERW pipe manufacturers offers reported at around INR 30,500-30,600/MT ex-plant & excluding GST. Offers incline by INR 200-300/MT D-o-D.
— Odisha based ERW pipe manufacturers offers reported at around INR 31,000/MT ex-plant & excluding GST, a Pipe (100 TPD) manufacturer reported.
Rebar (12 mm)
— Raigarh based Scan Group branding (Shrishti TMT) is current offering at INR 29,800/MT.
— Jalna based Bhagyalaxmi Rolling Mill Pvt Ltd (Polaad TMT) is offering at INR 31,100/MT (down by INR 200/MT).
— Jalna based Rajuri Steel Pvt. Ltd. (Rajuri TMT) is offering at INR 31,100/MT (down by INR 200/MT).
— Gujarat based Diamond TMT is current offering at INR 31,900/MT.
— Raipur based Real Ispat (GK TMT) is offering at INR 31,400/MT (up by INR 200/MT).
— Wardha based Sangam TMT is currently offering at INR 30,300/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 22nd August 2019
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 21,300 | 21,200 | 21,400 | 0 | 22,600 | 22,000 |
| Ex-Mumbai | HMS(80:20) | 21,500 | 21,300 | 21,500 | + 200 | 21,000 | 21,000 | |
| Ex-Chennai | HMS(80:20) | 20,400 | 20,300 | 20,500 | 0 | 20,400 | 20,300 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 16,600 | 16,500 | 16,700 | + 200 | 17,100 | 17,500 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 15,900 | 15,800 | 16,000 | + 300 | 16,600 | 16,600 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 16,700 | 16,600 | 16,800 | + 100 | 17,500 | 17,400 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 16,300 | 16,200 | 16,400 | 0 | 16,700 | 16,500 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 15,600 | 15,500 | 15,700 | + 200 | 16,100 | 16,500 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 15,500 | 15,400 | 15,600 | + 200 | 16,500 | 16,400 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 15,900 | 15,800 | 16,000 | 0 | 16,300 | 16,000 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 16,400 | 16,300 | 16,400 | 0 | 16,600 | 16,500 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 28,050 | 28,000 | 28,100 | + 650 | 29,300 | 29,100 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 25,500 | 25,400 | 25,600 | + 300 | 26,400 | 25,900 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 24,700 | 24,600 | 24,800 | + 600 | 26,100 | 25,500 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 25,150 | 25,100 | 25,200 | + 600 | 26,200 | 26,000 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 27,000 | 27,000 | 27,100 | 0 | 27,500 | 27,500 | |
| Billet | Ex-Mandi Gobindgarh | 100×100 mm, IS 2831 | 28,100 | 28,000 | 28,100 | + 700 | 29,400 | 29,200 |
| Ex-Durgapur | 100×100 mm, IS 2831 | 25,800 | 25,700 | 25,900 | + 200 | 26,800 | 26,400 | |
| Ex-Rourkela | 100×100 mm, IS 2831 | 25,100 | 25,000 | 25,200 | + 500 | 26,500 | 25,800 | |
| Ex-Raipur | 100×100 mm, IS 2831 | 25,700 | 25,600 | 25,800 | + 650 | 26,800 | 26,400 | |
| Ex-Ahmedabad | 100×100 mm, IS 2831 | 27,400 | 27,300 | 27,500 | + 300 | 28,700 | 28,700 | |
| Ex-Mumbai | 100×100 mm, IS 2831 | 27,300 | 27,200 | 27,400 | + 100 | 27,800 | 27,750 | |
| Ex-Chennai | 100×100 mm, IS 2831 | 28,200 | 28,100 | 28,300 | 0 | 28,500 | 29,200 | |
| Ex-Hyderabad | 100×100 mm, IS 2831 | 26,000 | 25,900 | 26,100 | 0 | 27,300 | 28,000 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 32,700 | 32,500 | 32,900 | + 100 | 33,300 | 34,200 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 29,600 | 29,400 | 29,800 | + 200 | 30,800 | 30,800 | |
| Ex-Rourkela | 12-25 MM, IS 1786- 500 Fe | 29,100 | 29,000 | 29,200 | 0 | 30,200 | NA | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 29,100 | 28,900 | 29,300 | + 500 | 30,400 | 30,000 | |
| Ex-Jalna | 12-25 MM, IS 1786- 500 Fe | 30,900 | 30,700 | 31,100 | 0 | 31,300 | 32,300 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 30,200 | 30,000 | 30,400 | – 200 | 30,800 | 31,100 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 32,500 | 32,300 | 32,700 | 0 | 33,100 | 33,700 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 30,200 | 30,000 | 30,400 | + 200 | 31,200 | 32,200 | |
| Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 29,400 | 29,200 | 30,000 | + 200 | 31,000 | 30,400 |
| Ex-Raipur | Wire Rod(5.5 MM) | 29,600 | 29,100 | 30,600 | + 700 | 30,800 | 31,700 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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