Indian steel prices slightly fluctuated amid average trade inquiries with less clarity in market directions whether the current price range will sustain or see major change in coming days.
The Rebar, Billet & Sponge iron fluctuated by INR 100-300/MT in major markets, as per daily assessment made by SteelMint.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 26,400-29,600/MT (USD 367-412) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 16,600-18,000/MT (USD 231-251); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 28th August 2019 (Wednesday) INR to USD exchange rate stood at INR 71.79.
— ICEX (Indian Commodity Exchange Ltd) Sep’19 contract for STEELLONG today open at INR 28,280/MT & last traded (IST 18:25 hrs) at INR 28,190/MT.
— BSE Sensex closed at 37,451(-189) on Wednesday, as against last day (Tuesday) at 37,641(+147).
— NSE Nifty50 index was closed today at 11,046(-59) & Nifty Metal at 2,226(-77).
Raw Materials
— Jindal SAW (Rajasthan) decreased pellet (Fe 63%) offers for the week at INR 7,500/MT (delivered Kandla) as against INR 7,800/MT a week ago.
— South African RB2 (5500 NAR) coal offers are assessed at USD 48.86/MT on FoB basis & USD 66.13/MT CNF India.
— Imported scrap offers to India for HMS (80:20) Europe origin containers stood at around USD 275/MT, CFR Nhava Sheva.
— Melting scrap offers in Western India- Jalna (Maharashtra) incline by INR 200/MT in a day trade activities.
Semi Finished
— In West Bengal – Durgapur, big manufacturers have kept sponge offers at firm level for the day; P-DRI at INR 17,000/MT & C-DRI at INR 18,000/MT
— The private pig iron producers in eastern India – Durgapur have increased prices by INR 200/MT and latest price for Steel grade reported at INR 24,000-24,200/MT ex-plant.
— Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 17,000/MT & Billet at INR 26,300-26,400/MT ex-plant.
— BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 16,400-16,500/MT ex-Bellary, an official reported.
— BIOP Steels in South India has increased sponge prices by INR 200/MT, offering FeM 80 & 82 C-DRI lumps at INR 17,000/MT & INR 17,400/MT ex-plant, Karnataka; an official reported.
Wire Rod & Pipe
— Mandi Gobindgarh, North India based ERW pipe manufacturers offers reported at around INR 34,000/MT ex-plant & excluding GST.
— Raipur, Central India based ERW pipe manufacturers offers reported at around INR 32,000-32,300/MT ex-plant & excluding GST.
— Odisha based ERW pipe manufacturers offers reported at around INR 32,000/MT ex-plant & excluding GST, a Pipe (100 TPD) manufacturer reported.
Rebar (12 mm)
— Gujarat based Shreeyam Power & Steel Industries Ltd. (National TMT) is current offering at INR 33,200/MT FoR.
— Jalna based Rajuri Steel Pvt. Ltd. (Rajuri TMT) is offering at INR 32,100/MT (up by INR 400/MT).
— Jalna based SRJ Peety Steels Pvt Ltd (Shree Om) is current offering at 31,900/MT.
— Bajrangbali Steel Industries Pvt Ltd based in Odisha is offering rebar at INR 30,500/MT.
— Gujarat based Shreeyam Power & Steel Industries Ltd. (National TMT) is current offering at INR 33,200/MT FoR.
— Jalna based Rajuri Steel Pvt. Ltd. (Rajuri TMT) is offering at INR 32,100/MT (up by INR 400/MT).
— Jalna based SRJ Peety Steels Pvt Ltd (Shree Om) is current offering at 31,900/MT.
— Wardha based Sangam TMT has unchanged their offers at INR 31,800/MT.
— South region based Prakash Ferrous Ind. Pvt. Ltd (Tirumala) currently being offered at INR 34,500/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 28th 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 | + 100 | 21,300 | 22,200 |
| Ex-Mumbai | HMS(80:20) | 21,800 | 21,700 | 21,900 | + 100 | 21,300 | 21,000 | |
| Ex-Chennai | HMS(80:20) | 20,600 | 20,500 | 20,800 | 0 | 20,400 | 20,200 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 18,000 | 17,900 | 18,100 | + 100 | 16,400 | 17,400 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 16,600 | 16,500 | 16,600 | – 100 | 15,600 | 16,500 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 17,400 | 17,300 | 17,500 | – 100 | 16,600 | 17,200 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 16,800 | 16,700 | 16,900 | 0 | 16,300 | 16,400 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 17,000 | 16,900 | 17,100 | + 100 | 15,400 | 16,400 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 16,300 | 16,200 | 16,400 | 0 | 15,300 | 16,200 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 16,400 | 16,300 | 16,500 | + 100 | 15,900 | 15,800 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 16,800 | 16,700 | 16,900 | + 100 | 16,400 | 16,400 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 29,500 | 29,400 | 29,600 | 0 | 27,400 | 29,200 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 26,700 | 26,600 | 26,800 | – 100 | 25,200 | 25,900 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 26,100 | 26,000 | 26,200 | – 100 | 24,100 | 25,400 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 26,400 | 26,300 | 26,500 | – 100 | 24,550 | 26,000 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 28,300 | 28,200 | 28,400 | + 100 | 27,000 | 27,200 | |
| Billet | Ex-Mandi Gobindgarh | 100×100 mm, IS 2831 | 29,600 | 29,500 | 29,700 | 0 | 27,400 | 29,300 |
| Ex-Durgapur | 100×100 mm, IS 2831 | 27,000 | 26,900 | 27,100 | – 200 | 25,600 | 26,400 | |
| Ex-Rourkela | 100×100 mm, IS 2831 | 26,400 | 26,300 | 26,500 | – 200 | 24,600 | 25,700 | |
| Ex-Raipur | 100×100 mm, IS 2831 | 27,000 | 26,900 | 27,100 | – 100 | 25,050 | 26,300 | |
| Ex-Ahmedabad | 100×100 mm, IS 2831 | 28,800 | 28,700 | 28,900 | 0 | 27,100 | 28,700 | |
| Ex-Mumbai | 100×100 mm, IS 2831 | 28,500 | 28,400 | 28,600 | + 100 | 27,200 | 27,500 | |
| Ex-Chennai | 100×100 mm, IS 2831 | 28,500 | 28,400 | 28,600 | + 200 | 28,200 | 29,200 | |
| Ex-Hyderabad | 100×100 mm, IS 2831 | 27,000 | 26,900 | 27,100 | 0 | 26,000 | 28,000 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 33,400 | 33,300 | 33,600 | 0 | 32,600 | 33,800 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 31,400 | 31,200 | 31,600 | + 100 | 29,400 | 30,600 | |
| Ex-Rourkela | 12-25 MM, IS 1786- 500 Fe | 30,500 | 30,400 | 30,700 | 0 | 29,100 | 29,800 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 30,400 | 30,300 | 30,600 | + 100 | 28,600 | 29,800 | |
| Ex-Jalna | 12-25 MM, IS 1786- 500 Fe | 31,800 | 31,600 | 32,000 | + 100 | 30,900 | 31,200 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 31,300 | 31,100 | 31,500 | + 100 | 30,400 | 30,400 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 32,300 | 32,200 | 32,500 | 0 | 32,500 | 33,600 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 31,000 | 30,900 | 31,200 | 0 | 30,000 | 32,000 | |
| Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 31,000 | 30,800 | 31,200 | + 200 | 29,200 | 30,400 |
| Ex-Raipur | Wire Rod(5.5 MM) | 30,900 | 30,400 | 31,900 | 0 | 28,900 | 30,900 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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