Indian mid sized steel mills have slightly lower their offers by INR 100-300/MT due to average trade inquiries. The spot trades weak, as per participants who deals largely in finished products.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 26,200-29,500/MT (USD 366-413) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 16,300-17,800/MT (USD 227-249); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 30th August 2019 (Friday) INR to USD exchange rate stood at INR 71.54.
— ICEX (Indian Commodity Exchange Ltd) Sep’19 contract for STEELLONG today open at INR 27,720/MT & last traded (IST 18:18 hrs) at INR 27,990/MT.
— BSE Sensex closed at 37,332(+263) on Friday, as against last day (Thursday) at 37,068(-382).
— NSE Nifty50 index was closed today at 11,023(+74) & Nifty Metal at 2,289(+35).
Raw Materials
— As per the recent updates received, the 22nd Goan iron ore e-auction held on 22nd and 23rd Aug’19, received bids for only 39% (i.e 2.06 MnT) out of total offered quantity of 5.34 MnT.
— 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- Gujarat decline by INR 500/MT in a day trade activities.
Semi Finished
— Vizag Steel has issued an export tender of 25,000 MT basic grade steel making Pig iron (C: 3.5 – 4.8%; Mn: 0.50% max; Si: 1.5% max; P: 0.12% max; S: 0.050% max) for any country other than Nepal. The tender is due on 06 Sept’19.
— Ludhiana, North India based trade participants reported steel & foundry grade pig iron offers at INR 26,200-26,400/MT & INR 29,300-29,500/MT on FoR basis & excluding 18% GST.
— Central India, Raigarh based sponge manufacturer (900 TPD) has offered Pellet sponge at INR 15,900-16,000/MT FoR Raipur.
— Aloke Steel Industries (Jharkhand) offered Fem 78-80 C-DRI lumps at INR 17,600/MT & Sponge mix material (60:40) at INR 17,300/MT ex-plant. Manufacturer is also offering trade discount of INR 300/MT in bulk bookings.
— East India, Odisha based manufacturer, Mahavir Ferro Alloys offered Billet & C-DRI mix material at INR 26,500/MT & INR 16,500/MT ex-plant as per officials. And also added no major buyers at this prices.
— In West Bengal – Durgapur, big manufacturers have decreased sponge prices by INR 100/MT D-o-D; offering P-DRI at INR 16,800-17,000/MT.
— Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered Billet at INR 26,100/MT ex-plant.
— BIOP Steels in South India has kept offers unaltered; offering FeM 80 & 82 C-DRI lumps at INR 16,800/MT & INR 17,200/MT ex-plant, Karnataka; an official reported.
— BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 16,400-16,500/MT ex-Bellary, 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 31,500-31,800/MT ex-plant & excluding GST.
Rebar (12 mm)
— Raigarh based Scan Group branding (Shrishti TMT) is offering at INR 30,800/MT (down by INR 500/MT).
— Bajrangbali Steel Industries Pvt Ltd based in Odisha is offering rebar at INR 30,200/MT.
— Odisha based Subhlabh TMT offers reported at INR 30,300-30,500/MT.
— Gujarat based Shreeyam Power & Steel Industries Ltd. (National TMT) is current offering at INR 32,500/MT FoR.
— Gujarat based Diamond TMT is current offering at INR 32,400/MT.
— Jalna based Bhagyalaxmi Rolling Mill Pvt Ltd (Polaad TMT) has unchanged their offers at INR 32,100/MT.
— Wardha based Sangam TMT has unchanged their offers at INR 31,800/MT.
— Chennai based Suryadev Alloys & Power Pvt. Ltd. (Best TMT) is current offering at INR 32,600/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 30th 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 | – 500 | 21,700 | 22,100 |
| Ex-Mumbai | HMS(80:20) | 21,700 | 21,600 | 21,800 | 0 | 21,500 | 21,200 | |
| Ex-Chennai | HMS(80:20) | 20,400 | 20,400 | 20,700 | – 100 | 20,700 | 20,400 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 17,800 | 17,800 | 18,000 | – 100 | 16,900 | 17,000 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 16,300 | 16,200 | 16,400 | – 100 | 15,900 | 16,450 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 17,200 | 17,100 | 17,300 | – 100 | 16,800 | 17,100 | |
| 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 | 16,800 | 16,800 | 17,000 | – 100 | 15,900 | 16,000 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 15,900 | 15,800 | 16,000 | – 200 | 15,650 | 16,100 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 16,400 | 16,300 | 16,500 | 0 | 15,900 | 15,900 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 16,800 | 16,700 | 16,900 | 0 | 16,400 | 16,400 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 29,400 | 29,300 | 29,500 | + 100 | 28,500 | 28,700 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 26,400 | 26,300 | 26,500 | – 300 | 25,700 | 25,800 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 25,850 | 25,800 | 25,900 | – 50 | 25,000 | 25,200 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 26,400 | 26,300 | 26,500 | 0 | 25,500 | 25,800 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 27,700 | 27,600 | 27,800 | – 300 | 27,400 | 27,150 | |
| Billet | Ex-Mandi Gobindgarh | 100×100 mm, IS 2831 | 29,500 | 29,400 | 29,600 | + 100 | 28,600 | 28,800 |
| Ex-Durgapur | 100×100 mm, IS 2831 | 26,800 | 26,700 | 26,900 | – 100 | 26,100 | 26,100 | |
| Ex-Rourkela | 100×100 mm, IS 2831 | 26,250 | 26,200 | 26,300 | + 50 | 25,400 | 25,600 | |
| Ex-Raipur | 100×100 mm, IS 2831 | 26,900 | 26,800 | 27,000 | + 100 | 26,100 | 26,100 | |
| Ex-Ahmedabad | 100×100 mm, IS 2831 | 27,800 | 27,700 | 28,000 | – 200 | 27,600 | 28,200 | |
| Ex-Mumbai | 100×100 mm, IS 2831 | 27,950 | 27,900 | 28,000 | – 250 | 27,700 | 27,450 | |
| Ex-Chennai | 100×100 mm, IS 2831 | 28,200 | 28,100 | 28,300 | 0 | 28,100 | 29,100 | |
| Ex-Hyderabad | 100×100 mm, IS 2831 | 27,000 | 26,900 | 27,100 | 0 | 26,200 | 28,000 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 33,200 | 33,000 | 33,300 | – 100 | 32,800 | 33,500 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 31,100 | 30,900 | 31,300 | 0 | 29,800 | 30,300 | |
| Ex-Rourkela | 12-25 MM, IS 1786- 500 Fe | 30,300 | 30,200 | 30,500 | 0 | 29,600 | 29,700 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 30,200 | 30,000 | 30,300 | – 100 | 29,300 | 29,400 | |
| Ex-Jalna | 12-25 MM, IS 1786- 500 Fe | 31,800 | 31,700 | 32,000 | 0 | 31,000 | 31,000 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 31,100 | 30,900 | 31,300 | – 200 | 30,400 | 30,400 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 32,200 | 32,100 | 32,400 | – 100 | 32,400 | 33,500 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 31,000 | 30,900 | 31,200 | 0 | 30,200 | 32,000 | |
| Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 30,600 | 30,500 | 30,900 | – 200 | 29,700 | 30,200 |
| Ex-Raipur | Wire Rod(5.5 MM) | 30,100 | 29,600 | 31,300 | – 400 | 29,900 | 30,400 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
Leave a Reply