Indian steel prices surge further on account of improved inquiries and as per assessment the prices rose by INR 100-600/MT on day trade activities.
The Sponge prices surge by INR 100-200/MT & Billet by INR 200-600/MT, Inline rebar offers also rise by INR 100-300/MT in major markets.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 25,700-29,000/MT (USD 356-403) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 16,100-17,200/MT (USD 223-239); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 26th August 2019 (Monday) INR to USD exchange rate stood at INR 71.99.
— ICEX (Indian Commodity Exchange Ltd) Sep’19 contract for STEELLONG today open at INR 28,550/MT & last traded (IST 18:31 hrs) at INR 28,210/MT.
— BSE Sensex closed at 37,494(+792) on Monday, as against last day (Friday) at 36,701(+228).
— NSE Nifty50 index was closed today at 11,057(+228) & Nifty Metal at 2,256(-22).
Raw Materials
— According to the latest assessment of Coking coal, spot prices of the Premium HCC are reported at around USD 153/MT FoB Australia & USD 168.9/MT CNF India.
— South African RB2 (5500 NAR) coal offers are assessed at USD 48.86/MT on FoB basis & USD 66.13/MT CNF India.
— As per WSA (World Steel Association) India’s crude steel output inched down by 1% to 9.215 MnT in Jul’19 against 9.338 MnT in the preceding month.
Semi Finished
— Ludhiana, North India based trade participants reported foundry grade pig iron offers at INR INR 29,000-29,200/MT on FoR basis & excluding 18% GST.
— Jindal Steel is offering steel grade pig iron at INR 24,000/MT ex-Raigarh, Central India-Sources.
— Mesco Steel’s pig iron offers in Jajpur, Odisha is hovering at INR 22,800/MT ex-plant- Sources.
— In West Bengal – Durgapur, big manufacturers have kept sponge offers unaltered for the day; P-DRI at INR 16,200/MT & C-DRI at INR 17,200/MT.
— Raigarh based Singhal Steel offered P-DRI at INR 15,100/MT & Billet at INR 25,800/MT ex-plant, officials reported.
— Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered Billet at INR 25,700/MT ex-plant.
— BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 15,900-16,000/MT ex-Bellary, an official reported.
— BIOP Steels in South India has kept offers unaltered; offering FeM 80 & 82 C-DRI lumps at INR 16,300/MT & INR 16,700/MT ex-plant, Karnataka; an official reported.
Wire Rod & Pipe
— Mandi Gobindgarh, North India based ERW pipe manufacturers offers reported at around INR 33,300-33,400/MT ex-plant & excluding GST.
— Raipur, Central India based ERW pipe manufacturers offers reported at around INR 31,000-31,300/MT ex-plant & excluding GST.
— Odisha based ERW pipe manufacturers offers reported at around INR 31,300/MT ex-plant & excluding GST, a Pipe (100 TPD) manufacturer reported.
Rebar (12 mm)
— Raipur based Real Ispat (GK TMT) has unchanged their offers at INR 31,900/MT.
— Raigarh based Scan Group branding (Shrishti TMT) is current offering at INR 30,500/MT.
— Gujarat based Akshar Ispat Ltd. (Akshat TMT) is current offering at INR 32,100/MT FoR.
— Jalna based Bhagyalaxmi Rolling Mill Pvt Ltd (Polaad TMT) is offering at INR 31,300/MT (up by INR 100/MT)
— Jalna based Rajuri Steel Pvt. Ltd. (Rajuri TMT) has unchanged their offers at INR 31,400/MT.
— Wardha based Sangam TMT is current offering at INR 30,700/MT.
— Chennai based Ponneri Steel Ind. (Triple Power) is current offering at INR 33,000/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 26th August 2019
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 21,800 | 21,700 | 21,900 | + 100 | 21,700 | 22,300 |
| Ex-Mumbai | HMS(80:20) | 21,500 | 21,400 | 21,600 | – 100 | 21,400 | 21,200 | |
| Ex-Chennai | HMS(80:20) | 20,400 | 20,200 | 20,500 | – 100 | 20,500 | 20,200 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 17,200 | 17,100 | 17,300 | 0 | 16,800 | 17,350 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 16,200 | 16,100 | 16,300 | + 150 | 16,000 | 16,500 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 17,000 | 16,900 | 17,100 | + 100 | 17,100 | 17,100 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 16,400 | 16,300 | 16,400 | 0 | 16,400 | 16,400 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 16,200 | 16,100 | 16,300 | 0 | 15,800 | 16,400 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 15,750 | 15,700 | 15,800 | + 50 | 15,800 | 16,150 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 16,000 | 15,900 | 16,000 | 0 | 16,000 | 15,900 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 16,400 | 16,300 | 16,500 | 0 | 16,500 | 16,400 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 28,900 | 28,800 | 29,000 | + 600 | 28,550 | 29,000 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 25,800 | 26,700 | 26,900 | 0 | 25,800 | 25,800 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 25,300 | 25,200 | 25,400 | + 200 | 25,150 | 25,300 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 25,800 | 25,700 | 25,900 | + 300 | 25,100 | 25,800 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 27,800 | 27,800 | 27,900 | + 250 | 27,200 | 27,400 | |
| Billet | Ex-Mandi Gobindgarh | 100×100 mm, IS 2831 | 29,000 | 28,900 | 29,100 | + 600 | 28,700 | 29,100 |
| Ex-Durgapur | 100×100 mm, IS 2831 | 26,200 | 26,100 | 26,300 | 0 | 26,300 | 26,350 | |
| Ex-Rourkela | 100×100 mm, IS 2831 | 25,700 | 25,600 | 25,800 | + 200 | 25,450 | 25,600 | |
| Ex-Raipur | 100×100 mm, IS 2831 | 26,400 | 26,300 | 26,500 | + 350 | 25,700 | 26,150 | |
| Ex-Ahmedabad | 100×100 mm, IS 2831 | 28,200 | 28,100 | 28,300 | + 500 | 27,800 | 28,600 | |
| Ex-Mumbai | 100×100 mm, IS 2831 | 28,000 | 28,000 | 28,100 | + 150 | 27,400 | 27,600 | |
| Ex-Chennai | 100×100 mm, IS 2831 | 28,200 | 28,000 | 28,300 | 0 | 28,400 | 29,300 | |
| Ex-Hyderabad | 100×100 mm, IS 2831 | 26,500 | 26,400 | 26,600 | 0 | 26,500 | 28,500 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 32,700 | 32,500 | 32,900 | – 100 | 33,000 | 33,800 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 30,400 | 30,200 | 30,600 | + 300 | 30,000 | 30,800 | |
| Ex-Rourkela | 12-25 MM, IS 1786- 500 Fe | 29,800 | 29,600 | 33,000 | + 200 | 29,400 | 29,800 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 29,700 | 29,600 | 29,900 | + 200 | 29,300 | 29,900 | |
| Ex-Jalna | 12-25 MM, IS 1786- 500 Fe | 31,100 | 31,000 | 31,300 | 0 | 31,000 | 31,800 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 30,700 | 30,500 | 30,900 | + 200 | 30,600 | 30,900 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 32,300 | 32,200 | 32,500 | – 100 | 32,800 | 33,800 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 30,500 | 30,300 | 30,600 | 0 | 30,800 | 32,500 | |
| Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 30,000 | 29,800 | 30,200 | 0 | 30,000 | 30,300 |
| Ex-Raipur | Wire Rod(5.5 MM) | 29,900 | 29,400 | 30,900 | 0 | 29,700 | 31,300 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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